Ottawa to Allow 30-year Amortizations for First Time Buyers' Mortgages on New HomesBy Scott WestlakeApril 12, 20240 comments#FTHB #firsttimehomebuyer #mortgagenews #insuredmortgage #newbuild #marketupdate Advocates are applauding Ottawa's decision to extend the amortization period on insured mortgages for specific homebuyers, viewing it as a positive step toward making homeownership more attainable. Finance Minister Chrystia Freeland announced the extension to 30 years for insured ...Read more...
The Bank of Canada Holds Rates Steady Until Core Inflation Falls FurtherBy Scott WestlakeMarch 6, 20240 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales Today, the Bank of Canada held the overnight rate at 5% ...Read more...
The Bank of Canada Holds Rates Steady And Expects Rate Cuts Later This YearBy Scott WestlakeJanuary 24, 20240 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales Today, The Bank of Canada held the overnight rate at 5% for the fourth consecutive meeting but provided an outlook suggesting that monetary easing will begin by mid-year. The Bank ...Read more...
Hawkish Hold By The Bank of CanadaBy Scott WestlakeOctober 25, 20230 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales ...Read more...
Home Sales Dipped Once Again Last Month In The Wake of Two Consecutive BoC Rate HikesBy Scott WestlakeSeptember 15, 20230 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales Not surprisingly, buyers moved to the sidelines last month as the central bank took the overnight policy rate up to 5.0%. Home sales posted a 4.1% decline between July and August, ...Read more...
Bank of Canada June Rate Hike Spooks the Housing MarketBy Scott WestlakeJuly 17, 20230 comments#Bankofcanada #interestrate #boc #variablemortgage #mortgagerates The Canadian Real Estate Association says the BoC's surprise ...Read more...
Reverse Mortgage Myths Versus FactsBy Scott WestlakeJune 28, 20230 comments#reversemortgage #homeequitybank #retirement #retirementmortgage #homeequityloan Read more...
Unlocking Home Equity: The Benefits of a Reverse Mortgage vs a HELOC.By Scott WestlakeJune 9, 20230 comments#HELOC #reversemortgage Do you need help to meet your retirement income needs? With rising inflation, accessing sufficient cashflow for your desired lifestyle can be challenging. However, with over 70% of Canadians owning their homes, tapping into home equity can be the cashflow solution you need. Tapping ...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...
Top 8 Questions About Reverse Mortgages.By Scott WestlakeApril 14, 20230 comments#reversemortgage #equitytakeout #refinance #CHIP 1. if i have an existing mortgage on the property, can i get a reverse mortgage? Not only is this the most common question regarding reverse mortgages, it is actually one of the most common uses for a reverse mortgage – to pay off the current mortgage and eliminate that payment ...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...
What is an Uninsurable Mortgage?.By Scott WestlakeMarch 23, 20230 comments#uninsurablemortgage #insuredmortgage #insurablemortgaeg When it comes to mortgages, insurance is necessary to protect the lender on these types of loans, which deal in large sums of money. There are three different tiers relating to insurance, which all have different minimum down payment amounts and varying premium insurance fees. ...Read more...
Further Decline in Inflation in February Will Keep the Bank of Canada On Hold in AprilBy Scott WestlakeMarch 21, 20230 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates All eyes will be on the Federal Reserve tomorrow when ...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...
How to provide a tax-free gift to your children with a Reverse Mortgage.By Scott WestlakeFebruary 17, 20230 comments#reversemortgage #CHIPmortgage #EQBmortgage #nomortgagepayment #seniormortgage The current economic situation in Canada may pose challenges for young people, who are facing uncertainty with high interest rates and inflation, as they try to establish their careers, consider home ownership or starting a family. As a parent, you may be concerned about how to support ...Read more...
4 Key Things to Know about a Second Mortgage.By Scott WestlakeFebruary 1, 20230 comments#secondmortgage #privatelending #homeequity #refinance A second mortgage is a mortgage that is taken out against a property that already has a home loan (mortgage) on it. Generally people take out second mortgages to satisfy short-term cash or liquidity requirements, have an investment opportunity or to pay off higher-interest debts (such ...Read more...
Why Now Might Be A Good Time To Consider A Reverse MortgageBy Scott WestlakeJanuary 10, 20230 comments#reversemortgage #CHIPmortgage #EQBmortgage #nomortgagepayment #seniormortgage A reverse mortgage can provide a number of benefits for senior homeowners. These loans allow homeowners who are 55 or older to tap into the equity they have built up in their home, without having to sell their property or make monthly mortgage payments. Instead, the loan is repaid ...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...
The Bank of Canada Hiked Rates The Full 50 bpsBy Scott WestlakeDecember 7, 20220 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates The Governing Council of the Bank of Canada raised its ...Read more...
Commercial Mortgage TeamBy Scott WestlakeNovember 24, 20220 comments#commercialmortgage #commerciallending Commercial Mortgages Commercial projects can range from apartment buildings, shopping centres, office buildings and industrial properties. We have a team of experts to handle all types of loans ranging from construction financing to term loans. While you can get a commercial mortgage ...Read more...
Its Time To Feel Zen About Your MortgageBy Scott WestlakeNovember 9, 20220 comments#brucebuffer #itstime #mortgage Read more...
What To Know About Porting Your MortgageBy Scott WestlakeOctober 27, 20220 comments#portablemortgage #mortgageportability When it comes to getting a mortgage, one of the more overlooked elements is the option to be able to port the loan down the line. Porting your mortgage is an option within your mortgage agreement, which enables you to move to another property without having to lose your existing interest ...Read more...
Construction and Pre-Construction Mortgages.By Scott WestlakeAugust 29, 20220 comments#constructionmortgage #constructionfinancing #presale #presaleconsturction #selfbuild #specbuild #twt #scottwestlake Construction and Pre-Construction Mortgages. Building or renovating your own home is such an exciting time and allows you to create something tailored to you and your family! But when it comes to construction mortgages, there are a few different types of loans: new construction ...Read more...
Using a Reverse Mortgage for In-Home Health CareBy Scott WestlakeJuly 4, 20220 comments#reversemortgage Here are 2 ways to use a reverse mortgage to pay for in-home health care: 1. Set-up an Income Advantage Line of Credit – Our reverse mortgage lender will deposit a fixed amount each month into the clients bank account (ex: $2000/month). Interest is only charged on ...Read more...
Recently Funded - $2.4M Reverse Mortgage for High Net Worth Client.By Scott WestlakeMy PortfolioJune 3, 20220 comments#recentlyfunded #portfolio #reversemortgage #retirement Would it surprise you if you learned that High-Net-Worth (HNW) clients use reverse mortgages as part of their overall financial planning strategy? HNW clients have a minimum of $1 million dollars in liquid assets. So why use a reverse mortgage? Why High-Net-Worth Clients Use ...Read more...
9 Reasons People Break Their Mortgage.By Scott WestlakeJune 1, 20220 comments#breakingmortgage #whybreakmortgage Did you know, approximately 60 percent of people break their mortgage before their mortgage term matures? While this is not necessarily avoidable, most homeowners are blissfully unaware of the penalties that can be incurred when you break your mortgage contract – and sometimes, ...Read more...
5 Things to Consider When Building Your New Home.By Scott WestlakeApril 12, 20220 comments#constructionloan #constructionfinancing #constructionmortgage Building a new home is an exciting adventure but requires very different considerations. To help you have the best experience building a home, we have put together the 5 most important considerations. 1. it’s all in the numbers Regardless of whether you are shopping for a pre-built ...Read more...
My Mortgage Toolbox #1 Mortgage App/CalculatorBy Scott WestlakeApril 12, 20220 comments#mortgageapp #mortgagecalculator #mortgage #onlineapp Did you know we provide our clients and referral sources with Canada's #1 Mortgage App & Calculator, available on both the Apple Store & Google Play for free! Our Mortgage App helps calculate the cost of owning a home, stress test your mortgage, pre-qualify for mortgage in ...Read more...
Recently Funded - $2M Construction FacilityBy Scott WestlakeMarch 2, 20220 comments#portfolio #construction #constructionmortgage TWT Recently Funded a $2M credit facility. Up to 80% of the as-completed value of the home 65% of the land value released upon registration. Remaining funds draws based on the percentage complete. Interest only charged on the funds advanced to-date ...Read more...
Staying Out of the Penalty Box.By Scott WestlakeFebruary 2, 20220 comments#mortgaegpenalty #penalty #breakingmortgage #SW #TWT #DLC When it comes to mortgages, it is easy to focus on the rates and your current situation, but the reality is that life happens and when it does, rates won’t be the only thing that matters. First and foremost, the most important thing to remember is that a mortgage is a contract. ...Read more...
Recently Funded - $6M + Mortgage Luxury Real EstateBy Scott WestlakeMy PortfolioJanuary 26, 20220 comments#luxuryrealestate #milliondollarmortgage #luxurymortgagespecialist #TWT #SW #DLC TWT recently funded a $6M ++ residential mortgage for a client of ours purchasing a very luxurious home. Navigating financing for luxury real estate is one of our specialities and we are happy to see this come together smoothly. Locking in industry low mortgage ...Read more...
Getting Familiar with our Commercial Mortgage SolutionsBy Scott WestlakeNovember 29, 20210 comments#commercialmortgage #dlccommercial #twtcommercial #SW #TWT #DLC At The Westlake Team, Dominion Lending Centres, we have access to a wide range of commercial financing options. From apartment buildings, shopping centres, office buildings and industrial properties, we have you or your clients covered! Our main product line is: CMHC ...Read more...
Your quick guide to your best short-term financing options.By Scott WestlakeNovember 11, 20210 comments#shorttermfinancing #bridgeloan #privatemortgage #reversemortgage #TWT #DLC #SW Short-term financing – credit or loans that are designed to be paid off in a short period of time – can be a useful financial tool in a variety of different situations, such as: Bridge financing If you’re planning on moving and have found a new home before ...Read more...
Renewing Your MortgageBy Scott WestlakeNovember 10, 20210 comments#renewingyourmortgage #mortgagerenewal #mortgagebroker #DLC #TWT #SW Did you know? Close to 70 percent of mortgages never make it to the end of their term! This means that, for a variety of reasons, homeowners are ending their mortgages early. However, that still leaves a solid 30 percent of home buyers who keep their mortgage until the term is up ...Read more...
Recently Funded - Construction Capital Available!By Scott WestlakeMy PortfolioOctober 18, 20210 comments#constructionmortgage #constructionfinancing #selfbuild #specbuild #twt #scottwestlake Recently funded acquisition financing to purchase property our clients are going to build on. In addition, construction financing is approved. Property is being torn down. It is an existing bungalow for new two story home - principal residence. Construction ...Read more...
How Credit Impacts Your Next MortgageBy Scott WestlakeSeptember 28, 20210 comments#fourc #credit #mortgage #SW #TWT #DLC Buying your first home is an incredible step in life, but it is not without its hurdles! One of which is demonstrating that you are creditworthy, which all comes down to your credit rating. This is how lenders and credit agencies determine the interest rate you pay, or whether you ...Read more...
Recently Funded - Multiple Mortgage Refinances & Mortgage TransfersBy Scott WestlakeMy PortfolioJune 29, 20210 comments#recentlyfunded #recentlyfundedmortgage #FTHB #TWT #SW #DLC TWT has recently funded a significant amount of mortgage refinances and mortgage transfers. The combination of low mortgage interest rates & appreciating real estate assets is a perfect combination to consider restructuring ones current mortgage. Refinance --> ...Read more...
Recently Funded - High Ratio Insured Purchase For First Time Home BuyerBy Scott WestlakeMy PortfolioMay 12, 20210 comments#recentlyfunded #recentlyfundedmortgage #FTHB #TWT #SW #DLC TWT recently funded a $882,440 High Ratio Insured Mortgage for our First Time Home Buyers. The purchase price was $915,000 and our clients wanted the lowest down payment. For CMHC-insured mortgage loans, you must have the following: • 5% down payment for ...Read more...
Recently Funded - Self Employed Mortgage Refinance $1.4MBy Scott WestlakeMy PortfolioMay 6, 20210 comments#fundedmortgage #recentlyfunded #portfolio #refinance #ETO #SW #TWT #DLC TWT Recently Funded a Mortgage Refinance for $1.4M for Self Employed Clients. Purpose of refinance was a combination of equity take out for home improvement & debt consolidation. Clients have built up significant equity but also accumulated unsecured debt. Clients ...Read more...
Recently Funded - Luxury Condo - Net Worth Lending ProgramBy Scott WestlakeMy PortfolioApril 30, 20210 comments#networthmortgage #highnetworthmortgage #networthlending #SW #TWT TWT Recently Funded a Residential Mortgage for a luxury condominium in Toronto. -$2,500,000 Mortgage -Roughly 73% loan to value (LTV) -Sub 2% interest rate -No set up fee TWT used a Net Worth Program to help approve the mortgage. Net Worth Mortgages allow clients to ...Read more...
Recently Funded - Property Acquistion + Construction Capital For Multiple TriplexesBy Scott WestlakeMy PortfolioApril 23, 20210 comments#constructionmortgage #constructionfinancing #mortgagebroker #mortgagebrokerage #twt #SW TWT Recently funded a mortgage to acquire a property and additional approved the construction capital for multiple triplexes. 70% Loan To Value on the acquisition of an existing property that will be demolished. Construction capital based on "as if" value and ...Read more...
$2M Inter Alia Mortgage - Cottage Land AcquisitionBy Scott WestlakeMy PortfolioApril 20, 20210 comments#land #landfinancing #acquistionfinancing #constructionmortgage #SW #TWT #scottwestlake TWT recently closed on a $2M Inter Alia Mortgage facility in Muskoka in under 1 week. Our client approached us to purchase land and required 100% financing. Land typically finances around 50-65% loan to value. We cross collateralized another asset to secure the $2M lending ...Read more...
Recently Funded - Cottage Construction + Take Out MortgageBy Scott WestlakeMy PortfolioMarch 29, 20210 comments#constructionmortgage #cottagebuild #scottwestlake #twt TWT recently wrapped up a complete construction and take out mortgage strategy that was put in place for our clients. Scott initiated this process over a year back after a comprehensive conversation with the clients, builder and multiple lenders and determined there ...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...
What Are The 6 Most Important Questions To Ask Before A Home Renovation?By Scott WestlakeFebruary 1, 20210 comments#homerenovation #homereno #renovationmortgage #mortgaegbroker #scottwestlake #twt 7 Important Questions to Ask Before a Big Home Renovation. So you want to make a major home renovation. Congratulations! Now, you’ve got to find the right contractor for the job. While doing a thorough online search or asking family and friends is an important first step, once ...Read more...
How Much Do You Really Know About Reverse Mortgages?By Scott WestlakeJanuary 29, 20210 comments#reversemortgage #nopaymentmortgage #twt #scottwestlake #dlc How much do you really know about reverse mortgages? Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free. Maybe you know that tens of thousands of Canadians are using a reverse mortgage as part of their financial plan. But did you ...Read more...
Residential Construction Financing - Programs Available & How To ApplyBy Scott WestlakeJanuary 20, 20210 comments#constructionmortgage #constructionfinancing #selfbuild #specbuild #twt #scottwestlake Construction Mortgage Programs Available Bank Mortgage -Bank mortgages are available for clients looking to build their principal residence. -You need to be able to debt service the mortgage -You will have a fixed draw schedule -Depending on the size and scope of the ...Read more...
TWT/DLC Commercial MortgagesBy Scott WestlakeJanuary 13, 20210 comments#commercialmortgage #commerciallending #TWTcommercial #dlccommercial #scottwestlake #commercialbrokerage Most of our clients and referral sources know our team for our residential mortgages. However, in the last 24 months we have grown dramatically in the commercial sector. Between the access our brokerage provides, being one of the largest National Brokerages - funding North ...Read more...
Planning For A Mortgage In 2021 - Everything You Need To Know & More!!!By Scott WestlakeDecember 18, 20200 comments#planningforamortgage #mortgageprep #mortgagebroker #mortgageadvise #FTHB #firstimebuyer #scottwestlake #dlc Planning for a mortgage. What you need to know and how Scott & his team can help! scott@thewestlaketeam.com 416-436-1135 Understanding your Credit Score One of the important factors in home ownership is understanding things like your credit score. ...Read more...
Bank of Canada 2021 ScheduleBy Scott WestlakeNovember 30, 20200 comments#BoC #bankofcanada #oakvillemortgagebroker #gtamortgage Please see the schedule for the Bank of Canada announcements on Interest Rates & Business Outlook Survey for 2021Read more...
5 Expenses Most Canadians Don't Expect In RetirementBy Scott WestlakeNovember 16, 20200 comments#retirement #reversemortgage #twt #dlc #scottwestlake 5 Expenses Most Canadians Don’t Expect in Retirement. According to a recent CIBC poll, nearly half (48%) of retired Canadians stopped working sooner than they expected. The result is that many retirees have saved less for retirement than they planned, making unexpected ...Read more...
Getting a Mortgage When New To CanadaBy Scott WestlakeNovember 10, 20200 comments#newtocanadamortgage #newtocanada #perminentresident #twt #dlc #scottwestlake Getting a Mortgage When You’re New to Canada. Canada has seen a surge of international migration over the last few years. In 2019, we welcomed a total of 313,580 immigrants to the country! This is an increase of 40,000 individuals when compared to 2017 numbers. According ...Read more...
5 Things to Know When Buying a Rural PropertyBy Scott WestlakeNovember 9, 20200 comments#ruralpropertties #cottage #ruralmortgage #twt #scottwestlake 5 Things to Know Before Buying a Rural Property. As cities continuing to grow bigger and busier, a rural home beyond those limits can seem like a dream come true! However, before you dive into country living, there are a few things you should know! Especially, how different it can ...Read more...
How To Support Your Family Without Jeopardizing Your RetirementBy Scott WestlakeOctober 22, 20200 comments#reversemortgage #homeequity #heloc #accessequity #equitymortgage #twt #scottwestlake According to a study by Finder.com 67.7% of Canadian parents assist their adult children financially. There are many reasons why our clients may need to help out a family member, however, its important that they do so without jeaprodizing their retirement. Below, we look at ...Read more...
Get Pre Qualified for your next Mortgage in 60 secondsBy Scott WestlakeOctober 14, 20200 comments#mortgageapp #oakvillemortgagebroker #gtamortgage #twt #thewestlaketeam #scottwestlake What do all these people in our video have in common, and thousands of other happy Canadians? They have all downloaded My Mortgage Toolbox to help pre-qualify them for their home and more important obtain their home using our Mortgage Brokers. Try downloading our Free Mortgage ...Read more...
Financing A CottageBy Scott WestlakeAugust 4, 20200 comments#cottage #cottagemortgage #muskoka #haliburton #collingwood #georgianbay #twt #scottwestlake #dlc Its no surprise in recent months people in general, including clients of ours are looking for outside activities - and that includes spending time at the cottage and perhaps even looking to purchase a cottage. With a long weekend past us, many people spent time at their ...Read more...
Mortgage Solution For Vacant Residential Development SiteBy Scott WestlakeJune 23, 20200 comments#interaliamortgage #mortgagelending #mortgagebroker #landacquisition #constructionfinancing #twt #scottwestlake We recently funded a mortgage for some amazing clients that needed a creative solution. $1,890,000 1st Mortgage inter-alia 53% LTV Permanent Resident with foreign income and assets 7.35% Interest Rate 1% Set up fee Interest Only and open with 3 month interest Corporate ...Read more...
The Importance of Reviews!!!By Scott WestlakeMay 29, 20200 comments#reviews #mortgagereview #testimonial #twt #realestate #mortgage It was not too long ago The Westlake Team, TWT started asking for reviews! People are busy and its not always easy to take time to leave a review but we are so happy we started to ask. After over $1B in mortgage lending we cant believe we just started to ask for reviews. We ...Read more...
"The Mortgage Manual" Our House Magazine Digital Version Now AvailableBy Scott WestlakeApril 20, 20200 comments#ourhouse #mortgagemagazine #firstimehomebuyer #oakvillemortgagebrokerage #gtamortgage #lucuryfinance #buyingahome #myfirsthome #firstmortgage Due to COVID-19 we suspended this months delivery of Our House Magazine. However, that doesn't mean you still cannot get the content. This addition is a follow up to our popular edition entitled Mortgage Manual. This Magazine touches on everything a homebuyer needs to ...Read more...
Know The FAQ's About Reverse Mortgages - We Are Servicing Oakville & The GTABy Scott WestlakeApril 15, 20200 comments#reversemortgage #retirement #mortgageplannig #wehaveamortgageforthat #thewestlaketeam #twt Know the FAQs about Reverse Mortgages - Servicing Oakville & The GTA Thousands of Canadians are using a reverse mortgage as part of their re rement solu on. Purpose-built for Canadians 55+ it allows homeowners to turn their equity into tax-free cash. Below is ...Read more...
Virtual Mortgage AssessmentBy Scott WestlakeApril 3, 20200 comments#mortgageadvise #mortgagenews #whattodowithmortgage #mortgagerefinance #mortgagerenewal #privatelending #privatemortgage #purchase #twt #dlc #covid19 We are very proud of how quickly our industry has adapted to change. Our brokerage at Dominion Lending Centres put up one of the better websites with resources for homeowners savings questions pertaining to finances and the impact of COVID-19 https://dominionlending.ca/covid-19/ Our ...Read more...
COVID-19 Updates & What Homeowners Need To KnowBy Scott WestlakeMarch 30, 20200 comments#mortgageadvise #mortgagenews #whattodowithmortgage #twt #dlc #covid19 At The Westlake Team (TWT) & Dominion Lending Centres, we are deeply concerned about the Coronavirus – and we know you are too. Our thoughts and prayers go out to all the families and front line workers that are dealing with this around the world. We recognize that many ...Read more...
What You Should Do With Your Mortgage In Todays MarketBy Scott WestlakeMarch 30, 20200 comments#mortgageadvise #mortgagenews #whattodowithmortgage #twt #dlc #covid19 In today's volatile market a common question from clients and referral sources alike is what their clients should be doing in todays market with their mortgage. We break down the different mortgages you may have and what industry professionals are recommenting. Existing ...Read more...
The Westlake Team (TWT) & Dominion Lending Centres Recognize You May Be Looking For Mortgage Advise...By Scott WestlakeMarch 23, 20200 comments#dlccommercial #covid19 #mortgageadvise #mortgagehelp #mortgagerefinance #oakvillemortgagebroker #gtamortgage At The Westlake Team (TWT), part of Dominion Lending Centres, we are deeply concerned about the Coronavirus – and we know you are too. We recognize that many homeowners may be looking for guidance around mortgage financing and our mortgage brokers are here for you today, and ...Read more...
CHIP REVERSE MORTGAGEBy Scott WestlakeMarch 11, 20200 comments#chip #reversemortgage #twt #dlc #oakville #babyboomers Over the last few years its been evident to our team there is an aging demographic of clients, looking to access equity in their homes that they have built up over the years. Running in parallel, lending has become a lot more strict and it hasn't been as easy for clients to ...Read more...
Top 5 Things Millennials Should Know When Buying Real EstateBy Scott WestlakeMarch 10, 20200 comments#millennial #millenialmortgage #twt #dlc #thewestlaketeam #firsttimebuyer #FTHB Some great commentary from our team at DLC on what Millennials should know when getting into real estate. As always for more information on how our team can help you with your next mortgage, email scott@thewestlaketeam.com, info@thewestlaketeam.com or call ...Read more...
10 Great Reasons To Work With A RealtorBy Scott WestlakeFebruary 24, 20200 comments#workingwitharealtor #mortgagebroker #realestateagent #oakville #gtamortgage #twt #scottwestlake We want to give a shout out to all those amazing realtors out there! Those that work with us, those that are newer to working with us and those that haven't yet, but hopefully can in the near future! Our team empowers the realtor/mortgage broker relationship. In fact, ...Read more...
New Benchmark Rate for Qualifying For Insured MortgagesBy Scott WestlakeFebruary 19, 20200 comments#breakingnews #qualifyingrate #twt #scottwestlake #oakvillemortgagebroker #gtamortgage Our Chief Economist Dr. Sherry Cooper shares the recent news on the new qualifying interest rate... Although the net impact, immediately, may only be 30 basis points, this is a strong message that we require a more dynamic solution that can adjust to the market place ...Read more...
Mortgage PenaltiesBy Scott WestlakeNovember 19, 20190 comments#mortgagepenalty #breakingyourmortgage #twt #thewestlaketeam #mortgagebroker #bank #monolinelender Very interesting article on mortgage penalties and how not all lenders charge the same penalty. Its sometimes tough for clients to see past rate but there are a lot of features within a mortgage and factors that one should consider when apply for a mortgage and deciding on the institution ...Read more...
Jumbo Mortgage, Oakville, GTA & MuskokaBy Scott WestlakeNovember 15, 20190 comments#jumbomortgage #largemortgage #mortgagebroker #twt #scottwestlake #oakvillemortgagebroker In 2019 we soft marketed our Jumbo Mortgage Program. We partnered up with a combination of lenders and private capital that all provide very niche lending solutions and can accommodate large mortgages north of $1m and up to $20M. A few examples of niche markets ...Read more...
TWT Launching Commercial Team in 2020!By Scott WestlakeNovember 7, 20190 comments#commercialbroker #commerciallending #commercialmortgage #twtcommercial #thewestlaketeamcommerciallending #oakvillemortgage Over the past year TWT has made tremendous strides in obtaining commercial mortgage opportunities. The number of commercial brokers on the team has increased, the origination volume has increased and the relationships with lenders has dramatically increased. TWT hasn't ...Read more...
The Westlake Team, TWT Sponsors Master Works of Oakville!By Scott WestlakeOctober 30, 20190 comments#sponsorship #masterworksofoakville #bestmortgagebroker #oakvillemortgage #twt #thewestlaketeam #scottwestlake #realestate The Westlake Team, TWT part of DLC National is proud to sponsor Masterworks of Oakville Chorus & Orchestra. Scott says, "this sponsorship is an investment in our community and the amazing people that are apart of it." Scott committed to investing into two of the communities that ...Read more...
What the election results mean for your mortgageBy Scott WestlakeOctober 24, 20190 comments#electionandmortgage #liberalmortgage #mortgagenews #twt #thewestlaketeam #dlc Some insights from one of our peers at DLC on what the Liberal win means to your mortgage. As always, feel free to reach out if we can help: scott@thewestlaketeam.com "What the liberal win means for your mortgage: 1. We will see the continuation of the First Time Home Buyers’ ...Read more...
A Night of Networking & Entertainment at an Exclusive Car LoungeBy Scott WestlakeOctober 2, 20190 comments#luxurymortgage #luxuryrealestate #networking #oakvillemortgagebroker #twt #thewestlaketeam #scottwestlake The Westlake Team is a proud sponsor of this October's Luxury Networking Event. We are happy to be apart of The Preferred Network and look forward to wrapping up another great year in financing Luxury Real Estate. The Westlake Team has consistently provided solution based ...Read more...
Reverse Mortgages Explained...By Scott WestlakeSeptember 27, 20190 comments#reversemortgage #retirement #mortgageplannig #wehaveamortgageforthat #thewestlaketeam #twt Great article from our friends at Home Equity Bank on the differences between a reverse mortgage in Canada and USA. We have a couple specialists on our team and wed be happy to support any inquiries on if a reserve mortgage is suitable for your family. Full article credit ...Read more...
Why Should I use a Mortgage BrokerBy Scott WestlakeSeptember 26, 20190 comments#whyuseamortgagebroker #mortgagebroker #oakvillemortgage #gtamortgage #twt #dlc #thewestlaketeam #scottwestlake Using a Mortgage Broker has multiple benefits. Mortgage Brokers has access to multiple lenders. For example, Meridian recently came out (September 2019) with a 5 year fixed mortgage for uninsurable mortgages at 2.49% and insurable mortgages at 2.39%. If ...Read more...
5 Mistakes First Time Home Buyers Should AvoidBy Scott WestlakeSeptember 25, 20190 comments#homebuyermistakes #preapproval #oakvillemortgagebroker #homebuying #gtamortgage #twt #thewestlaketeam #scottwestlake A great article written by one of my peers from DLC on mistakes home buyers should try to avoid. (Credit and link at bottom of article). The biggest thing about buying a home is being prepared, asking questions and having a knowledgeable professional help address them. ...Read more...
Canada's First Time Home Buyer Incentive Program for First Time Home BuyersBy Scott WestlakeAugust 30, 20190 comments#fisttimebuyerincentive #nationalhousingstrategy #firsttimehomebuyerincentiveprogram #preapproval #mortgage #bestbrokeroakville #gtamortgage #twt #scottwestlake We have been inundated with questions on the New, First Time Home Buyer Incentive Program. Please see details below along for links to relevant information. As always our brokerage and team will be leading the way with new initiatives and helping make home ownership ...Read more...
Commercial Mortgage Oakville & GTABy Scott WestlakeAugust 19, 20190 comments#commercialrealestate #commercialmortgage #commercialmortgageoakville #twt #thewestlaketeam #scottwestlake #dlc A lot of our clients and referral sources don't know we finance commercial real estate. We have a team that has tremendous experience going back 30 + years and we have financed a lot of commercial real estate in Oakville, throughout the GTA and across Canada. We do a ...Read more...
Mortgage CalculatorBy Scott WestlakeAugust 15, 20190 comments#freemortgageapp #mortgagecalculator #gtamortgage #oakvillemortgagebroker #scottwestlake #twt #dlc #thewestlaketeam Why is everyone so excited?!? Easy - they have downloaded our free Mortgage App/ Mortgage Calculator and can be pre-qualified for a mortgage in less than 60 seances! Along with that, they can get our low rates, understand closing costs including land transfer tax and run mortgage ...Read more...
Construction Mortgage OakvilleBy Scott WestlakeAugust 14, 20190 comments#constructionfinancing #oakvillebroker #gtabuild #muskokabuild #constructionmortgage #twt #thewestlaketeam #scottwestlake Construction financing is probably our teams favourite lending solution and mortgage products to place and one our team handles very well! Although we are based out of Oakville and do a lot of construction financing and construction mortgages in Oakville we do a lot of construction ...Read more...
Monthly Mortgage Newsletter - August 2019By Scott WestlakeAugust 6, 20190 comments#oakvillemortgagebroker #mortgagebroker #realestate #monthlymortgagenewsletter #augustnewsletter #twt #thewestlaketeam #gtamortgage #scottwestlake Check out our Monthly Mortgage Newsletter for August! This month we touch on: -4 Costs to consider as a first-time homebuyer -Mortgage Default Insurance rates are not the problem -About DLC -About The Westlake Team -Homeowner Tips -Did you know... As always for more information ...Read more...
Oakville Mortgage BrokerBy Scott WestlakeJuly 24, 20190 comments#oakvillemortgagebroker #GTAmortgage #realestate #twt #thewestlaketeam #scottwestlake Q&A from Invidiata Magazine a year back. A lot of great things happened with our team when we moved our office to Oakville. We still service the GTA, Muskoka and Niagara but the transition to a local office in a terrific community like Oakville was the best ...Read more...
Qualifying Mortgage Rate Falls For First Time Since B-20 IntoBy Scott WestlakeJuly 21, 20190 comments#qualifyingrate #bankofcanada #mortgagerate #oakvillemortgagebroker #oakvillemortgagebrokerage #bestmortgagebroekr #gtamortgage #twt #thewestlaketeam QUALIFYING MORTGAGE RATE FALLS FOR FIRST TIME SINCE B-20 INTRO The interest rate used by the federally regulated banks in mortgage stress tests has declined for the first time since 2016, making it a bit easier to get a mortgage. This is particularly important for first-time homeowners ...Read more...
Updates on our free mortgage appBy Scott WestlakeJuly 15, 20190 comments#mortgageapp #oakvillemortgagebroker #gtamortgage #twt #thewestlaketeam #scottwestlake Its our one year anniversary of unveiling, My Mortgage Toolbox, the free mortgage app our clients and referral sources can download and use for their home buying needs. Calculating closing costs, being able to be pre qualified in under 60 seconds or simply compare payments and search ...Read more...
How A Mortgage Pre Approval Works! (Video Explanation)By Scott WestlakeJuly 11, 20190 comments#preapproal #firsttimehomebuyer #FTHM #twt #thewestlaketeam #oakvillemortgage #gtamortgage A lot of people overlook the importance of a pre approval. Not everyone realizes a pre approval can lock in interest rates so that your ahead of the market if rates shift and may not be impacted. You also can get peace of mind knowing your pre qualified for a mortgage ...Read more...
Projected Income for Medical Professional ProgramBy Scott WestlakeJuly 8, 20190 comments#projectedincomemortgage #medicalprofessionalmortgage #mortgagefordoctor #twt #thewestlaketeam #oakville #GTA When stated income mortgage programs were removed from lenders, it left a lot of clients including medical professionals looking for mortgage solutions. By bringing back a projected income program, we now can better serve the medical community that are recently licensed and have ...Read more...
How to Get the Best Mortgage!By Scott WestlakeJuly 4, 20190 comments#bestmortgage #mortgaegadvise #bestrate #constructionmortgage #selfemployedmortgage #oakvillemortgagebroker #gtamortgage #twt #thewestlaketeam #scottwestlake Defining BEST Mortgage is difficult as we all have different unique needs and requirements. To a lot of clients the best mortgage involves the best rate, which we can help find and provide to our clients. To others, the best mortgage is one than can get them the approval ...Read more...
Types of Commercial MortgagesBy Scott WestlakeJune 28, 20190 comments#commercialmortgage #commerciallending #twt #thewestlaketeam OUR TEAM IS ALWAYS LOOKING FOR INNOVATIVE WAYS TO MINIMIZE THE COST OF FUNDS AND MEET OTHER UNIQUE NEEDS OF THE BORROWER SUCH AS LIMITED GUARANTEES, FUNDING PRIOR TO LEASE-UP AND THE FIXING OF INTEREST RATES PRIOR TO THE COMPLETION OF DEVELOPMENT PROJECTS. CMHC INSURED ...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...
Leave us a Review!By Scott WestlakeJune 25, 20190 comments#revews #mortgageteam #mortgagebrokerage #testimonials #oakville #GTAmortgage #muskoka #thewestlaketeam #twt #scottwestlake We recently starting asking for reviews. We started just a few months back after years of not having the right platform or making the process of asking a part of our routine. Now, years later we are asking and its humbling to see the amazing comments left by our clients ...Read more...
Recent Mortgage - Refinance $640,000By Scott WestlakeJune 24, 20190 comments#refinance #mortgage #oakvillemortgagebroker #gtamortgage #twt #thewestlaketeam Backstory: Originally, the clients came to us to get pre-approved for a mortgage to buy a new home. After months of searching, reviewing their existing financing and speaking with a solid realtor that really took the clients considerations into heart, decided they could ...Read more...
Recent Mortgage - Construction Financing Cottage Country - $2,475,000By Scott WestlakeJune 17, 20190 comments#constructionfinancing #cottagemortgage #oakvillemortgagebroker #gtamortgage #twt #thewestlaketeam #muskokabuild #muskoka We had the pleasure of supporting repeat clients of ours financing another cottage build in Cottage Country. We provided both land acquisition financing to purchase the property as well as the construction financing for the cottage build out. Backstory: Clients ...Read more...
Recent Transaction - $748,000 Residential MortgageBy Scott WestlakeJune 10, 20190 comments#oakvillemortgagebroker #gtamortgage #thewestlaketeam #residentialpurchase #bestrates #mortgageteam Nothing overly complicated about this mortgage. Perhaps the way it was referred to us was flattering, but we highlight this mortgage, because our team can easily be categorized as a non-traditional or niche lending mortgage solution provider. When in fact, the most common mortgage ...Read more...
Recent Transaction - Net Worth Mortgage Explained $2mil MortgageBy Scott WestlakeJune 7, 20190 comments#networthmortgage #oakvillemortgagebroker #gtamortgage #scottwestlake #twt #thewestlaketeam We recently funded one of the first mortgages under a new Net Worth Mortgage Program. BackStory: Our client had large investments in marketable securities. The client is business for self and had been taking a draw from and investment portfolio held within a corporate ...Read more...
Recent Transaction - June 2019 - Construction Loan $2.8milBy Scott WestlakeJune 5, 20191 comments#recenttransaction #constructionfianancing #twt #thewestlaketeam #scottwestlake #mortgagebroker #oakvillemortgagebroker #gtamortgage Backstory: Land Accusation completed by purchaser in 2018, The client went through the process of deciding on builder, budget and applying for permit. -Cash buyer. No credit facility at closing. -Exit strategy is take out mortgage at completion through major institution, soft ...Read more...
Bank of Canada Maintains Overnight RateBy Scott WestlakeMay 30, 20190 comments#boc #bankofcanada #oakvillemortgagebroker #gtamortgage Bank of Canada Maintains Overnight Rate at 1-3/4% In a terse statement, the Bank of Canada maintained ...Read more...
Building a plan to move into your dream home!!By Scott WestlakeMay 25, 20190 comments#mortgageadvise #oakvillemortgagebroker #gtamortgage Some great advise from our partners at DLC in Quebec on building a plan to move into your dream home. There’s nothing quite like stepping into your dream home for the very first time. You have achieved your goal of homeownership! However, the journey from home seeker ...Read more...
Let us be a part of the Journey!By Scott WestlakeMay 24, 20190 comments#mortgageadvise #oakvillemortgagebroker #gtamortgage #preapproval #FTHB Buying a home can be exciting but also stressful. A good mortgage broker should help navigate the buying process from start to finish. Brokers work with multiple banks, credit unions, mono-line lenders and have access to creative lending programs. In an ever changing market ...Read more...
Planning For Retirement - We Have A Mortgage For ThatBy Scott WestlakeMay 23, 20190 comments#reversemortgage #retirement #mortgageplannig #wehaveamortgageforthat #thewestlaketeam #twt Wether you or a family member are planning for retirement or are already retired and looking for credit solutions, we have a mortgage for that. From traditional lending through banks and credit unions to reverse mortgages we can help access equity with or without income to support ...Read more...
First Time Home Buyer Mortgage GTABy Scott WestlakeMay 21, 20190 comments#FTHB #firsttimehomebuyer #oakvillemortgage #gtamortgage Check out one of our new commercials as seen on TV. Regardless if your a First Time Home Buyer in Oakville, where our head office is located, or around the GTA we have a team that can help secure your next mortgage! Don't take our word for it, see some of the reviews ...Read more...
Net Worth MortgageBy Scott WestlakeApril 24, 20190 comments#networthmortgage #networth We are pleased to announce our net worth lending program is back! This program is designed to provide additional mortgage solutions to customers with moderate incomes who have a significant amount of verifiable liquid assets and strong credit scores. Asset Requirements: -Minimum ...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...
Should you pay down your mortgage ASAP?1?By Scott WestlakeApril 13, 20190 comments#payingdownmortgage #mortgageadvise #twt #thewestlaketeam #scottwestlake I read a blog post from one of my peers on if it makes sense to pay your mortgage down ASAP (article below) and thought I would share my ten cents for my readers and clients. Depending upon your interest rate, other investments or opportunities you have available to ...Read more...
April Monthly Mortgage NewsletterBy Scott WestlakeApril 4, 20190 comments#monthlymortgagenewsletter #mortgagetips #mortgagenews #twt #thewestlaketeam #scottwestlake #DLC #oakvillemortgage #gtamortgagebroker This month we touch on the following topics: 1. How to Protect your Pre Approval 2. Moving up or down the Property Ladder 3. Homeowner Tip on Exterior Renovation To read our monthly mortgage newsletter, click the following link https://www2. ...Read more...
Mortgages for Investment PropertiesBy Scott WestlakeMarch 19, 20190 comments#rentalproperty #investmentmortgage #investmentproperty #rentalmortgage Turning to real estate for investment purposes is nothing new. In fact, when other markets are underperforming we tend to see a lift in clients seeking alternative investment strategies. Real estate, unlike other investments tend to be a little more familiar and comforting to ...Read more...
Our House MagazineBy Scott WestlakeMarch 11, 20190 comments#ourhouse #mortgagemagazine #firstimehomebuyer #oakvillemortgagebrokerage #gtamortgage #lucuryfinance #buyingahome #myfirsthome #firstmortgage This past year our brokerage launched OUR HOUSE Magazine. The magazine is distributed quarterly with mortgage relevant information. For example, this last addition specifically focuses on First Time Buyers and provides a comprehensive guide on what you need to know when buying ...Read more...
A Guide to the CHIP Reverse Mortgage ProgramBy Scott WestlakeMarch 7, 20190 comments#reversemortgage #CHIP #CHIPreversemortgage #retirementmortgage #twt #thewestlaketeam #scottwestlake #mortgagebroker We just received the updated guide for CHIP Reverse Mortgages and are available for distribution. This guide covers the following topic: 1. A note from the President of CHIP 2. What is a Reverse Mortgage 3. The Benefits of CHIP Reverse Mortgage ...Read more...
Oakville Young Professional or Entrepreneur of the Year (YPEG)By Scott WestlakeMarch 5, 20190 comments#oakvillebia #YPEG #awards #twt #thewestlaketeam #scottwestlake #bestmortgagebroker #oakvillemortgagebrokerage #mortgage This past year I was nominated for the YPEG - Young Professional or Entrepreneur of the Year. I went through the vetting out process which included a detailed report on ones business, including: results, year over year growth, community involvement, mentorship, leadership, implementation ...Read more...
March Monthly Mortgage NewsletterBy Scott WestlakeMarch 5, 20190 comments#monthlymortgagenewsletter #mortgagetips #mortgagenews #twt #thewestlaketeam #scottwestlake #DLC #oakvillemortgage #gtamortgagebroker This March we touch on a few different topics: 1. Going through a divorce, doesn't mean you have to split from your home -Understanding what a spousal buyout program is. 2. Insurance products for when you own a home. -Touching on Title Insurance, Mortgage Protection ...Read more...
Purchase Plus ImprovementsBy Scott WestlakeMarch 4, 20190 comments#purchaseplusimprovement #homerenovation #renovationmortgage #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #gtamortgage #luxuryrealestate Have you ever walked through a home thats almost perfect. If you could only renovate one of the washrooms or them all. Update the Kitchen or make the Laundry Room more functional. These renovations often happen while living in the home but few people realize we can ...Read more...
Mortgage Stress Test CalculatorBy Scott WestlakeFebruary 28, 20190 comments#mortgagestresstest #stresstestmortgage #twt #thewestlaketeam #scottwestlake #preapproval #mortgagecalculator #realestate Are you wondering how the "stress test" impacts your ability to buy a home? We launched an app this past year to specifically help you calculator what you can afford. By downloading: https://www.dlcapp.ca/app/scott-westlake you can quickly click on our stress ...Read more...
How to pay off your Mortgage FASTER in CanadaBy Scott WestlakeFebruary 28, 20190 comments#mortgagetips #mortgaegeadvise #buyingahome #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #burlingtonmortgagebroker #torontomortgage As a brokerage that originates a lot of mortgage business, I feel we have a responsibility to not only help Canadians get into their homes but also help them become mortgage free faster. Below are my tips on how you can do this! 1. Choose an accelerated mortgage payment ...Read more...
How to get a Mortgage on a CottageBy Scott WestlakeFebruary 28, 20190 comments#financingcottage #cottagemortgage #muskokamortgage #twt #thewestlaketeam #scottwestlake #bestmortgagebrokermuskoka #muskokamortgagebroker Financing a cottage can be as easy as financing your principal residence or more complicated than you can imagine. This is why we strongly recommend getting advise before making the multiple drives back and forth to cottage country without being properly informed. When ...Read more...
Transferring or Switching your MortgageBy Scott WestlakeFebruary 26, 20190 comments#switchmortgaeg #transfermortgage #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #refinancingmortgage #mortgagerenewal Transferring your mortgage or switching your mortgage from one lender to another is usually done in order to take advantage of a better rate or better terms. A transfer or switch is different then a refinance. A transfer/switch is when you don't add any money to the mortgage, ...Read more...
Construction Financing Oakville & GTABy Scott WestlakeFebruary 26, 20190 comments#constructionfinancing #constructionfinancingoakville #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #constructionmortgage There are two types of homes we get a lot of inquires about financing when it comes to construction. Building a home to live in as your principal residence and building a home to sell for investment purposes. When building a home to live in we have numerous lenders that ...Read more...
Minimum Down Payment RequirementsBy Scott WestlakeFebruary 22, 20190 comments#preapproval #downpayment #downpaymentoptions #minimumdownpaymentoptions #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #torontomortgage #luxuryrealestate Explanation of minimum down payment requirements: Purchase price between $1 - $500,000 = 5% minimum down payment Example - a purchase price of $400,000 is a minimum down payment of $20,000 Purchase price between $500,000 - $999,999 = Blended down payment The ...Read more...
Mortgage Document ChecklistBy Scott WestlakeFebruary 20, 20190 comments#mortgagedocumentchecklist #mortgaechecklist #twt #thewestlaketeam #twt #scottwestlake #oakvillemortgagebroker #mortgageoakville #gtamortgage #mortgageadvise #lucuryrealestate When applying for a mortgage or even better, when doing the pre-approval its crucial from an underwriting perspective to understand the buyers income. We have created multiple checklists to help clients understand whats required: Our checklist outlines what clients should ...Read more...
How To Finance Luxury Real EstateBy Scott WestlakeFebruary 7, 20190 comments#luxuryrealestate #financingluxuryrealestate #jumbomortgage #largemortgageoakville #luxuryfinancing #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #bestoakvillemortgagebroker When Financing Luxury Real Estate its important to work with a team that has experience working similar files, especially if the mortgage amount is getting North of $1mil. We get a lot of calls from Private Bankers, Wealth Managers, Top Performing Realtors, Lawyers and even ...Read more...
Q & N with Scott Westlake on MortgagesBy Scott WestlakeFebruary 6, 20191 comments#mortgageadvise #scottwestlake #twt #thewestlaketeam #bestoakvillemortgagebroker #torontomortgagebroker #oakvillemortgage #burlingtonmortgage #bestmortgagebroker #luxuryrealestate #luxuryfinancing 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...
How To Get The Best Mortgage RateBy Scott WestlakeFebruary 6, 20190 comments#bestmortgagerate #mortgagerate #bestmortgagerateoakville #bestmortgagerategta #bestmortgageratetoronto #twt #thewestlaketeam #scottwestlake #bestmortgage #lowestmortgagerate #lowmortgagerateoakville 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 & GTABy Scott WestlakeFebruary 5, 20191 comments#reversemortgage #reversemortgageoakville #oakvillereversemortgage #thewestlaketeam #twt #scottwestlake #reversemortgagegta #CHIP #chipmortgage #patch #pathmortgage 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 NewsletterBy Scott WestlakeFebruary 5, 20190 comments#mortgageadvise #luxuryrealestate #oakvillemortgagebroker #burlingtonmortgagebroker #twt #thewestlaketeam #scottwestlake #homeowners #alternativelending #alternative #mortgage #mortgageadvise 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 MortgageBy Scott WestlakeJanuary 30, 20191 comments#jumbomortgage #luxuryrealestate #jumbomortgageoakville #luxuryrealestateoakville #twt #thewestlaketeam #scottwestlake #financingluxury #largemortgage #jumbomortgageoakville #jumbomortgagegta 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, GTABy Scott WestlakeJanuary 30, 20190 comments#oakvillecommercialmortgage #commercialmortgage #thewestlaketeam #twt #scottwestlake #commerciallendingoakville #commerciallending #commercialmortgage #commercialmortgagetoronto #mortgageadvise 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 GTABy Scott WestlakeJanuary 29, 20190 comments#FTHB #firsttimehomebuyer #mortgageadvise #thewestlaketeam #TWT #scottwestlake #oakvillemortgage #gtamortgage #FTHBmortgage #Homebuyerplan 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 EmployedBy Scott WestlakeJanuary 22, 20190 comments#cmhcselfemployedmortgage #selfemployedmortgagequalifications #mortgageadvise #oakvillemortgage #mortgagegta #thewestlaketeam #TWT #scotwestlake #businessforselfmortgage 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 QualificationsBy Scott WestlakeJanuary 21, 20190 comments#selfemployedmortgagequalification #selfemployedlending #selfemployedmortgagerules #oakvillemortgage #torontolending #mortgagecanada #thewestlaketeam #twt #scottwestlake #mortgageadvise #realestate 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-APPROVALBy Scott WestlakeJanuary 18, 20190 comments#preapproval #firsttimehomebuyer #millenialmortgage #thewestlaketeam #twt #scottwestlake #mortgageadvise #mortgagepreapproval #preapprovaloakville #preapprovaltoronto 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 BuyersBy Scott WestlakeJanuary 17, 20190 comments#FTHB #CMHC #homebuyer #homebuyeroakville #homebuyertoronto #homebuyerburlington #mortgage #mortgageadvise #thewetlaketeam #scottwestlake #twt 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...
January 2019 Mortgage NewsletterBy Scott WestlakeJanuary 8, 20190 comments#mortgagenewsletter #oakvillemortgage #gtamortgage #torontomortgage #realestate #luxuryrealestate #thewestlaketeam #scottwestlake #preapprova #mortgageapp #oakville #toronto #muskoka 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...
Non Traditional Mortgage Financing Toronto, Oakville & GTABy Scott WestlakeDecember 11, 20181 comments#mortgages #gta #lenders #nontraditionallending #bank #creditunion #oakvillemortgage #bestmortgagerates #thewestlaketeam #scottwestlake #lending #trustcompany #lendingsolutions #mortgage 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 & GTABy Scott WestlakeDecember 9, 20180 comments#privatemortgage #privateloan #mortgage #lenders #gtaloans #torontoprivatemortgage #thewestlaketeam #scottwestlake #privatefinancing #constructionmortgage #oakvilleprivatemortgage 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...