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...
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 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...
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...