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Self-Employed? Secure a Mortgage in GTA

Posted by samanthas on June 17, 2013 in Home Living Tips with No Comments

self-employed mortgage OakvilleThere are plenty of reasons why the banks turn home owner hopefuls down for a mortgage. Bad credit, low income, lack of adequate down payment and being self-employed are just some of the reasons why getting a mortgage with a traditional bank can be almost impossible. Canadian mortgage rules along with banks are becoming more and more stringent in their rules and criteria to provide borrowers with the mortgages they need to buy a home. Unfortunately, for many, getting this mortgage can be a real challenge, and can be a stressful situation for many.

In particular, if you’re self-employed, you may not have the adequate amount of history showing positive cash flow. You might be earning commissions that are not necessarily adequately identified at tax time. Many banks look at those who are self-employed as a big risk, particularly if the business is fairly new and is small in magnitude.

The good news is that looking to a bank is not the only option. Working with an independent mortgage broker can be the answer you are looking for to secure the mortgage you need. Brokers will look around at various lenders who are in the business of supplying mortgages to people who are self-employed. They understand your needs, and will look at things other than your financials and tax notice of assessments.

Many lenders will supply self-employed mortgage Oakville for Ontarians. Brokers will negotiate the best rate possible, and will help to arrange a mortgage package that best suits your needs and your situation.

If you’re in the Oakville and surrounding area, work for yourself and are looking for a self-employed mortgage Oakville, give Marcelle Tiqui a call at the House of Mortgage Experts. Marcelle is an independent mortgage expert with lots of experience dealing with hard-to-get mortgages, such as those for the self employed. Call her team today at (905) 208-7070 to get started securing your mortgage!


Why Use a Mortgage Agent To Find You a Mortgage

Posted by samanthas on May 18, 2012 in Home Living Tips with No Comments

When you are considering purchasing a home in the Milton area and are in need of a mortgage to help you pay for the home, don’t just settle for whatever mortgage product the bank is willing to offer you. Use the services of a reputable independent mortgage broker to get yourself the best mortgage rate and terms possible. There are many advantages to using an independent mortgage agent rather than working with a traditional bank, which could save you thousands of dollars over the life of your mortgage.

Why Use an Independent Mortgage Broker?

Rather than going to a bank and getting one rate and set of terms offered to you, or shopping around yourself for the lowest mortgage rate, you should consider letting a mortgage agent do all the work for you. Since they do not work for banks or lenders, their best interests lie with you being able to get the lowest rate and best terms and conditions for a mortgage in Milton, Oakville or other areas of Greater Toronto-Greater Hamilton.

Mortgage professionals deal with a number of lenders on a regular basis, and as such are able to shop around rather quickly for the best mortgage package for your home. By securing a low interest rate, you can potentially save thousands of dollars over the life of your mortgage simply by having a mortgage broker find the lowest rate for you.

Mortgage brokers are well trained and highly knowledgeable in the field of mortgage financing, and will be able to make all the financial jargon in your mortgage package make sense to you, so you are completely up to speed on what your exact responsibilities and benefits are. This is especially helpful for first time home buyers who are new to the whole mortgage process. First time home buyers are given certain special privileges when it comes to buying their first home and arranging their first mortgage, so it`s quite helpful to have a mortgage broker introduce them to the programs that exist for their benefit.

Home buyers who have bad credit will find the use of a mortgage broker especially useful, since most banks will most likely turn them down when they apply for a mortgage. Independent brokers have access to a variety of lenders of all sorts, and will know exactly who to go to when it comes to lending funds for home buyers with bruised credit.

Independent brokers are also able to deal with mortgage renewals on existing homes, as well as refinancing your home. They really are a one-stop-shop for all your mortgage needs. Call a professional mortgage agent today, like Lee Anne Taylor, and get the lowest rate and best terms and conditions on your next mortgage in Southern Ontario.