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You have options
Many lenders with products to suit most people.
I talk to clients, realtors, financial planners and all kinds of people every week and in many cases I hear stories about people being turned down by their bank for a mortgage. I tell these people they should have their clients, friends or family member give me a call. In many cases I can help them with a solution or work with them to improve their situation and move forward now or in the future.
By restricting yourself to one bank you eliminate all other options you may have. You won't know what those options are if you don't take the chance by contacting a mortgage broker to discuss those options. I help many people each month to buy a home, refinance their home to pay out debts, take equity out of their home to buy a rental property or to help their kids buy their first home. In many cases these people would not have taken these opportunities if they had only spoken to their bank.
There are many lenders in the marketplace that have specific niches of business. Banks have their own target client too and that may or may not be you. That doesn't mean you can't get what you need. We still have to go through the application process and we will work with you to determine what you can and can't do. I am honest with my clients and treat them with respect. I am a person just like you and I think we all should have a fair chance to own a home for our family.
See below for an example of one product that helped a client who could not get a mortgage from their bank.
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Mortgage Product Overview
Client - New to Canada.
Edward moved to Vancouver and got a job in his industry where he had worked for 5 years. We were restricted by lenders because he only had 20% down payment and only 4 months of income history in Canada. He also had limited credit history in Canada. One of our lenders has a newer product where we were able to use the 20% down payment, proof of short term income and alternate sources of credit. We secured a low rate and he was able to buy his new home. The realtor who referred the client to me was unsure his client could qualify. Of course, he was thrilled that I could help his client and can offer this option to other clients.
It only took a phone call to check it out.
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Mortgage Financing and Tax Planning
If you are looking to purchase a home or you own a home and want to take out equity to purchase real estate - then you won't want to miss this.
Join myself and David Perkins of Assante Financial on Wednesday Nov 10,2010 at 7pm in Vancouver.
Call (604-813-8402) or email me (pauline@mybcmortgage.ca) to receive more information. This interactive presentation is free but seating is limited - we have a few seats left.
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