Mortgage insurance for Self Employed

Mortgage insurance for Self Employed

By Scott Westlake0 comments
Apparently, self employed individuals make up roughly 15% of the Canada's labour force (noted in the CMHC link below).  It is evident working in the industry as a mortgage professional, that its become difficult to apply for a mortgage.  CMHC has announced that they revised ...Read more...
Self Employed Mortgage Qualifications

Self Employed Mortgage Qualifications

By Scott Westlake0 comments
I personally believe that the way we know self employment mortgages from the past has disappeared. Stating income and using what we believe to be an accurate indication of debt serviceability for a mortgage qualification is no longer an option in my opinion at the bank level.  We ...Read more...
5 REASONS WHY REALTORS WANT YOU TO HAVE A PRE-APPROVAL

5 REASONS WHY REALTORS WANT YOU TO HAVE A PRE-APPROVAL

By Scott Westlake0 comments
In the embedded link there are 5 great reasons to have a pre approval and why your realtor wants you to have one in place.   I might add, that not all pre approvals are created equal.  A top realtor in our area called me asking about a pre approval a client received from ...Read more...
Government of Canada Programs to Support Home Buyers

Government of Canada Programs to Support Home Buyers

By Scott Westlake0 comments
Our partners at CMHC has some terrific information on programs the Government of Canada has set up to support home buyers.  For more information visit:https://www.cmhc-schl.gc.ca/en/buying/financial-information-and-calculators/government-of-canada-programs-to-support-homebuyers ...Read more...
What is Mortgage Default Insurance

What is Mortgage Default Insurance

By Scott Westlake0 comments
In 2018 a very common question, especially among our first time home buyers, was with regards to default insurance.  I thought the best explanation out there is credit from our good friends at Genworth Financial: http://genworth.ca/en/homebuyers/index.aspx What is Mortgage ...Read more...
Credit Counselling Ontario

Credit Counselling Ontario

By Scott Westlake0 comments
Over the last year, credit has been coming up in more conversations than I recall in the past.  In the past, I was never sure how to assist.  Our team underwrites and review credit on a daily basis and we therefore have a higher level of sophistication when it comes to providing ...Read more...
Mortgage Broker Oakville

Mortgage Broker Oakville

By Scott Westlake0 comments
If you are looking for a mortgage in Oakville, we would love to help! We have a terrific pulse on the market as well as any unique qualities that may arise in lending, for example, heritage properties.     We work with Banks, Local Credit Unions, Trust Companies, Commercial ...Read more...
Mortgage Calculator

Mortgage Calculator

By Scott Westlake1 comments
A lot of clients and referral sources ask me what the best mortgage calculator is or what I use the most.  I know this may seem bias but we have our own app https://www.dlcapp.ca/app/scott-westlake available on both iTunes and Google to download.  I use it whenever ...Read more...
Corporate Mortgage Program

Corporate Mortgage Program

By Scott Westlake2 comments
WHAT IS A CORPORATE MORTGAGE PROGRAM   Our corporate mortgage program has been influenced around our existing customers.  The most common referral we receive is from our clients.  Its natural for friends, family and colleagues to be excited about their most recent real ...Read more...
Canadian Economic Outlook for 2019

Canadian Economic Outlook for 2019

By Scott Westlake1 comments
I am always a little apprehensive in making predictions on the market place, especially with regards to the broader economy of Canada.  Therefore, I leave this responsibility in addressing those types of questions to DLC's Chief Economist, Dr. Sherry Cooper.  Dr. Cooper's ...Read more...
January 2019 Mortgage Newsletter

January 2019 Mortgage Newsletter

By Scott Westlake0 comments
This month we touch on how to stay cool in the housing market and making 2019 your turnaround year!  Each month in 2019 we will be posting our newsletter at http://www.thewestlaketeam.com/.  This newsletter is designed a simple fast read with a few tips for current and future ...Read more...
Niche Mortgage Lending Solutions in Toronto Oakville and rest of GTA

Niche Mortgage Lending Solutions in Toronto, Oakville and rest of GTA

By Scott Westlake1 comments
Niche Mortgage Lenders in Toronto Over the past few years, Niche lending solutions have become very popular.  We define niche lenders as solution providers in the mortgage lending space that offer more unique solutions that what is considered the norm.  For example, there ...Read more...
Gap Funding Solutions for Real Estate in Toronto

Gap Funding Solutions for Real Estate in Toronto

By Scott Westlake1 comments
Gap Funding Lenders for Real Estate in Toronto, Oakville & GTA   We define Gap financing as a non-traditional lending solution, when the client purchases a property and has not sold their existing home and cannot qualify to carry both mortgages.  This is different ...Read more...
Non Traditional Mortgage Financing Toronto Oakville and GTA

Non Traditional Mortgage Financing Toronto, Oakville & GTA

By Scott Westlake1 comments
Non Traditional Mortgage Financing GTA   Non Traditional Lending Solutions are becoming necessary. Between government intervention & lender policy change, clients are turning to mortgage agents/brokers for solutions.  Not all clients understand the recent mortgage changes ...Read more...
Private Mortgage Lenders Oakville Toronto and GTA

Private Mortgage Lenders Oakville, Toronto & GTA

By Scott Westlake0 comments
Private Mortgage Lenders in the GTA   Private Lending has become a popular topic but hopefully not for the wrong reasons.  Private lending can be a lucrative investment strategy and a very necessary lending option if presented properly to all parties.  Most private ...Read more...
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