You go to the bank to get a mortgage and get one choice; their product in many variations. They quote you a great rate. Professionals know a lot more to a mortgage. Requested financing must be custom fitted to YOUR needs, not of theirs. One of the reasons you need a mortgage broker. They can give you access to all the products in the market to fit YOUR rate and product needs. First let’s look at the three main pillars of qualifying for a mortgage:
1. credit 2. income 3. down payment
Our analogy, just like any building. IF ANY ONE PILLAR IS MISSING, YOU ARE STILL STANDING. IF TWO ARE MISSING, YOUR CHANCES ARE SLIM. (short enough?)
Let me explain:
Credit: when your credit is not good (lower than 500 score), but you have a good job and a large down payment (15-25%), we can place you with a B lender. You will stay until your credit recovers (we help you create a plan to get it done). Once you qualified for a new low rate mortgage with a lender you will love for years to come.
Income: if your income does not fit with the stringent rules (~42% TDS total debt ratio) of an A lenders, we will place you with a B lender, again you have to have two pillars: decent credit and at least 15-25% down.
NO Down payment: great credit (sky high credit score) and efficient earnings are required, there are only a few lenders who can offer flex-down products. We make it easy.
We are experienced and dedicated serve our clients. Our objectives are finding a solution for you. We will teach you about mortgages. Our professionals know you will make better decision when you are educated. FREE advice 24/7 give us a call 403-253-2022 or send our president an email.