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Category: Mortgage

  • What Does Extended Ratios Mean?

    You maybe have heard about a decline, or been declined yourself in regards to the Affordability on your mortgage. The fact that you cannot afford this mortgage payment would not necessarily mean you are declined, it means you have to seek out Alternative Lending. They extend this affordability, which means they take your ratios and…

  • 4 Main Types Of Alt “A” Lending. Alternative Lending.

    There are 4 Main types of Alternative Lending. This is not the same as Alternative Mortgage Solutions. The rates on this type of mortgage typically range .5% to 2% higher than your best mortgage rate on the market. The is a lender, that offers mortgages that fit clients with Bruised Credit, and or lower income…

  • 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…

  • What A B Lending Mortgage Looks Like. On Closing.

    B lending is cheaper than private lending. We won’t go into the details of what B lending is all about. For that, check out our post on what B lending is. In this post we will break down the costs of getting into a B Lending Mortgage. This type of scenario applies to certain borrower…

  • Secrets Of The Bearer Trust Agreement. Purchase.

    This is an agreement that is made when a borrower mortgages a property for another party that is family related. This type of agreement allows the title to be transferred in future from “family related borrower” back to the “intended borrower” and avoid capital gains and land transfer taxes. Legally it is performed as a…

  • Small Important Things About A Mortgage Bridge

    We are not talking about London bridge or the Mackinac bridge in this post. We are talking about a Mortgage Bridge. This can happen in a few ways when you obtain financing. You buy a house, and your closing on the new purchase is BEFORE the old home sells. As most client’s down payment comes…

  • 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,…

  • The Philosophy of “Un”insured Mortgages

    So let’s just jump into this fact. Putting down 20% on your mortgage avoids default insurance cost, and PST on that premium payable at the lawyers, but it does increase your rate.  Yes, more down does not necessarily mean better rate.  “It is the world of insurance and an insured mortgage takes the plate when…

  • The 3 Most Important Factors That Determine Your Mortgage Approval

    Everyone wants the best rate.  It’s incredible to think that the best rate comes with a price.  That price is insurance. But nevertheless you get a deep rate discount when you get an insured mortgage and you have these 3 important factors.   Income: You have proof of employment income and usually they like to see…

  • 8 Fund Facts! RRSP Mortgage Downpayments

    Now that you want to buy a home it’s time to look at some creative ways to obtain your down payment.  Sometimes it makes sense to withdraw from your investments to purchase a home, but a good discussion with your investment advisor and/or accountant is recommended.  The specific investment we’re taking about in this situation…