What is Alternative Lending?.By Scott WestlakeJuly 12, 20230 comments#alternativelending #privatelending #businessforself #nichelending When traditional lenders (such as banks or credit unions) deny mortgage financing, it can be easy to feel discouraged. However, it is important to remember that there is always an alternative! If you’re seeking a mortgage, but your application doesn’t fit into the box ...Read more...
Oakville Hospital Foundation Golf TournamentBy Scott WestlakeJuly 4, 20230 comments#charity #OTMH #oakvillehospital #golf Hey everyone! I want to take a moment to express my deepest gratitude and appreciation for each and every one of you who got involved and contributed to the tremendous success of our Oakville Hospital Foundation Golf Tournament this year at beautiful Mississauga Golf Club. Your support ...Read more...
Recently Funded Mortgage --> Unlocking Financial Success: The Power Couple's Journey to Mortgage SuccessBy Scott WestlakeMy PortfolioJune 6, 20230 comments#recentlyfunded #businessforself #netincomeaftertax #businessincome #businessforselfmortgage #selemployedmortgage Introduction: In the world of high net worth individuals and entrepreneurs, financial decisions can often be complex and challenging. Recently, we had the pleasure of working with a remarkable power couple who epitomized success in both their personal and professional lives. Their ...Read more...
Self-Employed and Seeking a Mortgage.By Scott WestlakeApril 12, 20230 comments#businessforself #selfemployedmortgage #selfemployedmortgage Approximately 20% of Canadians are self-employed, making this an important segment in the mortgage and financing space. When it comes to self-employed individuals seeking a mortgage, there are some key things to note as this process can differ from the standard mortgage. Qualifying ...Read more...
Mortgages For Self Employed Borrowers - Under Corporations, Holdco's & MoreBy Scott WestlakeFebruary 24, 20230 comments#corporatemortgage #businessforself #selfemployed If you are a self-employed client who owns your own business, you may have chosen to set that business up as a corporation. This means the business operates as essentially its own person. They have income through business revenue and expenses from marketing costs, materials, office ...Read more...
Recently Funded - Business for Self Mortgage $1.84M - Refinance - Variable Rate To Fixed RateBy Scott WestlakeMy PortfolioDecember 12, 20220 comments#recentlyfunded #businessforself #netincomeaftertax #businessincome #businessforselfmortgage #selemployedmortgage We recently funded a mortgage for a client of ours, for $1.84M. The client has a good equity position in their home and wanted to refinance their property. The clients business slows down over the holidays and early part of the winter and and wanted to firm up their payment ...Read more...
How To Protect Yourself From Real Estate Fraud & SchemesBy Scott WestlakeMay 10, 20220 comments#realestatescams #fraudprevention #protectyourself As online-based transactions become more prevalent, cybercriminals are finding new and creative ways to steal your money. So, what can you do to make sure you don’t fall prey to these malicious attacks? Here are the most common types of real estate fraud schemes and some ways ...Read more...
How To Get A Mortgage When You Are Self EmployedBy Scott WestlakeApril 1, 20210 comments#businessforself #scottwestlake #twt #dlc Obtaining a mortgage when self employed can seem complicated, especially in a market with limited inventory and multiple offers. This often doesn't allow for offers with conditions and clients with complicated income may require that condition period to help ensure they qualify for ...Read more...
Million Dollar MortgagesBy Scott WestlakeFebruary 22, 20210 comments#milliondollarmortgage #networthlending #businessforself #scottwestlake #twt There has been a lot of media attention to the increase in real estate value to start 2021, and in turn, more conversations about million dollar mortgages or more specifically, the increase in the average size of mortgage. With limited real estate supply in certain markets ...Read more...
PST on Default Mortgage InsuranceBy Scott WestlakeSeptember 24, 20200 comments#defaultinsurance #mortgagedefaultinsurance #firsttimebuyer #F #thewestlaketeam #twt #scottwestlake #mortgageadvise #realestate #oakvillemortgageadvise #burlingtonmortgageadvise #torontomortgageadvise Many buyers are not aware or prepared to pay the Sales Tax on the Mortgage Default Insurance Premium - this is when you’re putting less than 20% down payment on a purchase. This is also in addition to your down payment and other closing costs. Sales Tax in Ontario is 8% ...Read more...
How & Where To Access Mortgage Capital & More...By Scott WestlakeApril 29, 20200 comments#mortgagecapital #homeequity #reliefcapital #governmentrelief #mortgaegadvise #twt #dlc Over the last 6 weeks there has naturally been a large increase in inquiries from Canadian's looking for access to Mortgage Capital or other sources of capital. As a Mortgage Brokerage that has access to many forms of Mortgage Capital we want to share some different avenues ...Read more...
How To Get A Mortgage, Access To Capital Or Relief During COVID-19By Scott WestlakeMarch 19, 20200 comments#mortgageadvise #mortgagerelief #mortgagerenewal #mortgagerefinance #twt This weeks been confusing to say the least, but we, as a team, are super proud of everyone thats moved their offices home, started working remote for the betterment of our community and are working around the clock to help those in need! This week we have already taken questions ...Read more...
Invest in yourself, invest in relationships & There is NO Secret Sauce!By Scott WestlakeNovember 25, 20190 comments#MPCNationalconference #MPC #twt #DLC #thewestlaketeam #scottwestlake #mortgagebroker #mortgagebrokerage #investinyourself #investinrelationships This past week a lot of mortgage brokers from across Canada took time to attend their National Mortgage Conference. The photo above was the start to my weekend at our Brokerages (DLC) Party - Brokers & Brews! After spending 3 days and nights with a lot of my peers and partners, ...Read more...
More Than Just Mortgages!By Scott WestlakeJune 27, 20190 comments#mortgage #equipmentleasing #businessforself #selfemployedmortgage #oakvillebrokerage #bestbroker #twt #thewestlaketeam Its funny - I read this post by a colleague of mine, David Cooke and I couldn't agree more with his thoughts. He described DLC brokerages as more than a mortgage company because we can offer other lending services, like equipment leasing. But we also offer, Visa cards, mortgage ...Read more...
Self Employed MortgageBy Scott WestlakeApril 23, 20191 comments#selfemlpoyment #businessforself #businessforselfmortgage #mortgageselfemlyment In 2018 a lot of clients that filed income, as business for self, and showed lower personal income but had strong business financials were susceptible to potentially higher mortgage interest rates without access to programs like the one described below - having to use their net personal ...Read more...