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Self-Employed? Get Approved for a Mortgage Today!

Posted by Ontario on February 18, 2016 in Business, Home Living Tips, oakville ontario with No Comments


self employed mortgage OntarioIf you’re a self-employed individual, then you already know all the perks that come with being your own boss: making your own decisions, setting your own schedule, and so forth. But there are also some disadvantages that come with being self-employed, including the fact that you don’t fit the ‘mold’ when applying for a mortgage with the banks to purchase a home.

The main problem that the self-employed face when qualifying for a mortgage is the need to prove income with tax returns. Whereas borrowers who are employed by companies get a regular pay check and paystub which helps them prove their income, those who are self-employed have to go to much greater lengths in order to prove that their financial position is sufficient enough to cover mortgage payments.  Standard bank forms do not let you provide additional info, like receivables, growth potential, assets and intellectual property.

With over 15 percent of the Canadian population falling under the self-employed category, they have to find a way to get approved for a much needed self employed mortgage in Ontario. If you are self employed or earn a commission-based salary, your best bet is to work with a mortgage specialist who can help you find a home loan at terms and rates that work with your current and future needs.

Call the Specialists in Self-Employed Mortgages!

If you’re in need of a self employed mortgage in Ontario, you need to work with experienced mortgage experts that know how to find lenders for hard-to-place mortgages.  A mortgage broker shops your mortgage over lenders across Canada – from big banks to investment companies, credit unions, financial investors and private lenders.  They work for you – not the bank – to help you get the home loan you need. You don’t have to fill out multiple applications or have each lender pull a credit report. When you work with a reputable company – like the Mortgage Medics, they sit down with you to do a private and confidential consultation.  They can help you determine how much you can afford to spend on a home, what to expect for closing and carrying costs, and how to become mortgage free faster. The best part is, the experts at Mortgage Medics can potentially save you thousands in interest, but there is no charge for their service!

self-employed mortgageMortgage Medics help small-medium size business owners to find the home loan or debt consolidation that they need.  They understand your needs, and will look above and beyond just the fact that you’re a self-employed individual. They’ll look at components including your credit rating, debt ratios, income and more to help you get approved for a mortgage. They compare hundreds of lending products to match the ones that are best for your requirements.  The Medics have access to lenders who are well-versed in providing mortgages to the self-employed.

Even if the banks turned you down, get a second opinion from a Medic!  Call the team at Mortgage Medics at (905) 847-6611 or visit their website at www.mortgagemedics.ca for more information!  They Medics also make house calls!

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You Can Still Get a Mortgage With Bad Credit!

Posted by Ontario on October 6, 2015 in Finance, oakville ontario, Oakville Ontario Services with No Comments


mortgage lender Oakville, Milton, Mississauga, BurlingtonBad Credit Doesn’t Have to Stand in the Way of You Getting a Mortgage!

If you’ve got credit that’s less than stellar, you probably think you’ll never get approved for a mortgage, right? Well, you’re in luck, because there are still ways to get a “YES” stamp on your mortgage application, even if you’ve suffered poor credit in your financial life!

Dealing with Typical Lenders is Not Your Best Choice if You Have Bad Credit

OBad Credit Mortgage Miltonf course, typical lenders – like big banks – will more than likely reject your application if your credit score isn’t adequate in their eyes. Lenders will look at your credit score to determine whether or not they will approve you when you apply for a mortgage. While various lenders have their own set of requirements, bad credit is one of the most common factors that will affect a lender’s mortgage approval. This can make finding a mortgage lender Oakville, Milton, Mississauga, Burlington and other areas of Greater Toronto – Greater Hamilton more difficult.

In addition to your credit score, lenders will look at a variety of different factors relating to your financial strength, including your:

  • Housing expense ratio (which should be no more than 32% of your gross income)
  • Co-borrowers
  • Investments
  • Stocks
  • Vehicles
  • Income history
  • Value of your home (if you own one and are looking to refinance or buy a more expensive home)
  • Amount of debt (cars, credit cards, current mortgage, student loans, child care, etc)
  • Debt to income ratio (which should be no more than 44%)bad credit mortgage Toronto

Let the Experts in Bad Credit Mortgages Help You Get Approved!

Rather than go the typical route of approaching traditional mortgage lender, why not take a better way and deal with an independent mortgage broker who knows exactly who to talk to in order for you to increase your chances of a mortgage approval, even with bad credit? Marcelle Tiqui is a mortgage agent who has plenty of experience getting a bad credit mortgage for those who have struggled with their financial past.

Marcelle has access to hundreds of lenders across Canada, who offer a variety of mortgage products for special situations just like yours. She is well versed in the criteria that different lenders have, and can use this knowledge to help you get approved for a mortgage. Even if you’ve been turned down by the banks, you can still get a bad credit mortgage in Ontario with the help of Marcelle Tiqui. She can also help you with home equity loans – to pay down high interest credit card debt, or mortgage refinancing. Call her at (905) 208-7070 or visit her website: www.marcelletiqui.com. Get your mortgage now- while rates are still low!

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Getting a Cottage Mortgage Ontario for Your Vacation Home

Posted by Ontario on October 2, 2015 in Business, oakville ontario with No Comments


cottage mortgage OntarioOntario has a vast amount of gorgeous lakes and cottage settings for Canadians to escape to during the summer months, or even all year round. Owning your very own cottage to use at your leisure makes vacationing that much more enjoyable and convenient. There are often bargains to be found in the fall or winter, and many cottages are also conveniently located near ski hills – making them the perfect year round destination.

When you have decided to purchase your own cottage or vacation home, it’s in your best interest to speak with a mortgage specialist, such as Claire Drage, who has the necessary expertise to help you arrange the best cottage mortgage to help finance your Ontario vacation home.

Cottage Mortgages – Consult the Experts

When you are shopping for a mortgage, you will naturally want to lock in a low interest rate. However, cottage mortgages are not necessarily only about rate, but also about the conditions and terms of the mortgage that will allow you to pay off this second home mortgage as quickly as possible. This is where the services of a knowledgeable mortgage broker can help arrange the perfect structure for your cottage mortgage Ontario.

There are generally two types of cottages:

Type A – These types of cottages are those that are generally used year round, even throughout the winter months. Because of this year-round use, these homes usually have heating and road access, and are zoned appropriately (residential, seasonal or rural). Home buyers can get financing for up to 95% of the home’s price.

Type B – These vacation homes are usually used only during the summer months, and therefore don’t usually need or have a heating system. These homes have seasonal road access, and can be financed up to 75% of the home’s price.

You can begin creating memories that will last a lifetime by spending quality moments with friends and family at a fun and relaxing vacation home. Getting a mortgage specialist to help you attain the proper cottage mortgage can help to make these memories happen right away.

Mortgage agents, like award winning Claire Drage, can find you the right mortgage terms, conditions and rates that are customized to suit your particular situation. Claire can connect with lenders across Canada, and find the one who will provide you with the lowest rates and the best terms possible. You only fill out one application and have one credit report pulled. Claire can then shop your cottage mortgage over big banks, private lenders, trust companies, credit unions and other financial lenders. Payment options can be quite flexible, and tailored to your financial position so that you can make comfortable payments, while paying off your mortgage as quickly as possible.

cottage mortgage financingGet Claire to help you realize your dreams of buying the perfect vacation home for you and your family.  Her and her team also do mortgage renewals, home equity lines of credit, new to Canada mortgages and mortgage refinancing.

Call Claire today for a personal and confidential financial evaluation and consultation.  She could save you thousands on your mortgage – all at no cost to you!  Give her at call at 289-679-0123 or learn more at www.yourmortgageoptions.ca.

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