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...
Canadian Mortgage Professionals 2019 Hot ListBy Scott WestlakeFebruary 18, 20190 comments#hotlist #CMPhotlist #scottwestlake #twt #thewestlaketeam #oakvillemortgagebroker #mortgagebrokergta #mortgageadvise #luxuryrealestate Each year Canadian Mortgage Professional (CMP) accepts nominations for their "HOT LIST." They commented on this group by saying, "despite a challenging year for the broker channel, these 40 mortgage professionals managed to set the industry on fire." I am proud to say the someone ...Read more...
How To Know When You Are Ready To Buy A HouseBy Scott WestlakeFebruary 18, 20190 comments#ishomeownershiprightforyou #areyoureadytobuy #preapproval #mortgagebrokeroakville #mortgagebrokertoronto #twt #thewestlaketeam #scottwestlake #mortgageadvise #oakvllemortgagebroker Signs you are ready to buy a house! 1. You have enough for your down payment -The minimum down payment to purchase a home in Canada is 5% and this should be a natural starting point. Being able to save for the down payment shows the discipline needed for home ownership ...Read more...
Top 35 under 35By Scott WestlakeFebruary 7, 20190 comments#top35under35 #top35mortgagebrokers #twt #thewestlaketeam #scottwestlake #oakvillemortgagebroker #burlingtonmortgagebroker #bestmortgagebroker #luxuryrealestate #financingluxuryrealestate I recently came across and article (below) I forgot was written. Back in 2016 I was thrilled to be nominated and awarded as on of the TOP 35 Mortgage Brokers under the age of 35. The reason this meant a lot to me, is I entered the market fairly young - in my mid 20's after finishing ...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...
Mortgage Affordability CalculatorBy Scott WestlakeFebruary 6, 20190 comments#mortgagecalculator #calculator #mortgageapp #thewestlaketeam #scottwestlake #oakvillemortgagecalculator #torontomortgagecaluclator #mortgagecalculatorontario #mortgagecalculatoraffordability 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 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...