Category: Private Mortgage

  • Farm Lending

    Most times when a borrower is a farmer, they have gone through all avenues to obtain financing on their farm. If you have not tried Farm Credit Canada yet, please do. They are an amazing company that specializes in business and financial services, and products to farming operations, including family farms, and to those businesses…

  • Self-Employed.

    We all know we need income for a mortgage. What Income is needed on a mortgage is always good to know. Most lender’s take one form of self employment or another. It all depends on which lender has a certain Appetite for your self employment. There are 3 different types of Self Employment income when…

  • (Mortgage) Letter Of Direction Deciphered

    A letter of direction is a legal document that a client signs in order to acknowledge and direct the lawyer to take a fee for the Mortgage transaction. The signature has to be witnessed. This direction only applies if the client must pay a mortgage brokerage fee. This fee is a percentage of the loan,…

  • What A Private Mortgage Loan Looks Like. On Closing.

    A Private Mortgage is something that looks expensive because it is. Below, Mortgage Suite breaks down all costs in a list to show you what it would look like and cost. There is a lot of info in this Mortgage Sheets breakdown. In order to get in to this type of Purchase or Refinance, you…

  • What Everyone Ought To Know About Mortgage Fees

    This topic could expand into an all encompassing look at the actual process and degree of tenacity and skill it takes a broker/agent to obtain approvals on certain mortgage loans but we’ll skim here in this post.  We are basing this on Borrower Types, and mortgage types we see in the current mortgage industry in…

  • What Is A Mortgage Exit Strategy

    We are not talking paying your mortgage off. That is everyone’s goal. Here we are going to discuss the high interest rate mortgage, and the cosigned mortgage. “When am I able to get into a better mortgage rate?” Situation #1 The high interest mortgage. We have to realize that any rate above the bank prime…

  • Borrower Types Explained In Few Minutes.

    We could go into the 6 c’s of lending here and go into exhausting detail about how every client is different because they are. Instead we are going to sum up types of borrowers by matching them to the type of lending Mortgage Suite achieves approvals with. It’s not the borrower that’s called this type,…