Q and N with Scott Westlake on Mortgages

Q & N with Scott Westlake on Mortgages

By Scott Westlake1 comments
1. How do I get the best rate   2. How long does it take to get pre-approved   3. What documents are needed for a mortgage   4. Do you like brokering better than being a banker   5. ...Answer1. Just ask.  We constantly are finding the best rates for our clients.  I just like to emphasize the importance in finding the best rates for YOU.  We have a free mortgage app that publishes ...Read more...
Mortgage Affordability Calculator

Mortgage Affordability Calculator

By Scott Westlake0 comments
A lot of clients are curious how much mortgage they qualify but might not yet be ready for a pre-approval.  Wen know that when we do a pre-approval we need to check credit, ideally have income confirmation and run the numbers based on the new stress test to come up with an "official" ...Read more...
How To Get The Best Mortgage Rate

How To Get The Best Mortgage Rate

By Scott Westlake0 comments
Its not a surprise searching for the Best Mortgage Rate is always going to be a popular topic.  Its a top search term in google, there are rate sites specifically positioned to promote the lowest rates and to be honest, who doesn't want the best interest rate?!   Even though ...Read more...
Reverse Mortgage Oakville and GTA

Reverse Mortgage Oakville & GTA

By Scott Westlake1 comments
1. What is a Reverse Mortgage   2. Eligibility for Reverse Mortgage   3. Qualifying for a Reverse Mortgage    4. Repaying the money you borrow   5. Cost to get a Reverse Mortgage    6. ...Answer1. A reverse mortgage is solution for home owners 55 years and older that want to access equity from their home without having to sell it.  For clients that may not have the income to qualify from ...Read more...
February 2019 Mortgage Newsletter

February 2019 Mortgage Newsletter

By Scott Westlake0 comments
This February we touch on the ABC's of Alternative Lending and the idea of if "we" are qualified to help qualify you for a mortgage.  We also provide a homeowners tip on insurance and provide some additional information on who is DLC along with who is The Westlake Team if you ...Read more...
Jumbo Mortgage

Jumbo Mortgage

By Scott Westlake1 comments
The Westlake Team recently connected with multiple lenders to discuss Jumbo Mortgage Solutions.  As a Mortgage Team that finances a lot of luxury real estate, its natural that many requests come in for large mortgages.  Depending on circumstances, traditional "Jumbo Mortgage" ...Read more...
Commercial Mortgage Oakville GTA

Commercial Mortgage Oakville, GTA

By Scott Westlake0 comments
Commercial Lending is one of our fasting growing verticals within The Westlake Team.  Similar to our Residential vertical, we have built significant relationships with Banks, Credit Unions, Trust Companies, Insurance Companies and Private Capital to once again, be our commercial ...Read more...
First Time Home Buyer Mortgage GTA

First Time Home Buyer Mortgage GTA

By Scott Westlake0 comments
Some great advise from our friends at DLC on what information First Time Home Buyers should be aware of when buying a home and more specifically applying for a mortgage.   The steps broken down:   1. Find a Fantastic Mortgage Broker  2. Get Comfortable with the numbers ...Read more...
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...
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