Benefits of Home Ownership.By Scott WestlakeMay 2, 20220 comments#homeownership #benefitsofhomeownership #equity So, you have decided to utilize your buying power in the Canadian retail market and are looking to purchase a home – congratulations! This is a great step towards ensuring your future. As a potential homeowner, there are some amazing benefits that we think you should be aware ...Read more...
Great Start to 2022! Top 50 Monthly Revenue!By Scott WestlakeApril 24, 20220 comments#top50 #top50revenue Quick thanks to all my amazing clients and referral sources that helped start 2022 on the right track! Q1 is in the books and we started off hot! Top 50 in monthly revenue, month after month which is a reflection on the amount of amazing people that trust our services to get ...Read more...
Documents You Require To Qualify For A MortgageBy Scott WestlakeApril 24, 20220 comments#documentation #documentrequirements #mortgagesubmission #mortgagepaperwork Documents Required to Qualify for a Mortgage Mortgages can sometimes feel like endless stacks of paperwork, but being prepared in advance can save you time and stress! Getting your mortgage pre-approved is part of this prep-process, and will make things easy in the long run. In order ...Read more...
Recently Funded - $1.553M Mortgage - Residential Purchase - Pre Approved for NO COF - P - 1.25%By Scott WestlakeMy PortfolioApril 23, 20220 comments#portfolio #recentlyfunded #SW #TWT #DLC #purchase #variablerate TWT Recently Funded a $1.55M Mortgage for a client of ours purchasing a new home. Client referred by realtor during a very hot market with limited supply and needed feedback on viability of no financing condition. TWT fully underwrites pre approvals ...Read more...
Canadian Inflation Is At 6.7%By Scott WestlakeApril 21, 20220 comments#inflation #2022inflation StatsCanada today reported that consumer prices rose a whopping 6.7% year-over-year in March, a full percentage point above the 5.7% reading the month before. Market-driven interest ...Read more...
Canadian March Home Sales Posted Their Biggest Decline Since JuneBy Scott WestlakeApril 20, 20220 comments#homesales2022 #homesalesspring2022 Statistics released today by the Canadian Real Estate Association (CREA) show that rising interest rates were already dampening housing activity well before the Bank of Canada's ...Read more...
Bank of Canada Hikes Rates by 50 BPs, Signalling More To ComeBy Scott WestlakeApril 13, 20220 comments#mortgagerates #mortgagerate #boc #variablerate The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will ...Read more...
Mortgage Industry Jargon ExplainedBy Scott WestlakeApril 13, 20220 comments#industryjargon #mortgagejargon Baffled by some of the phrases realtors and bankers throw at you? Here are some commonly used—but not always understood—words to describe mortgages: Amortization Period This is the number of years it will take to repay the entire mortgage in full and is determined when ...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...
OTMH GOLF TOURNAMENT - MONDAY AUGUST 15By Scott WestlakeApril 8, 20220 comments#OTMH #OTMHgolftournament #golftournament #TWT #SW #charity Join us at The Pulpit at The Pulpit Club, Wednesday August 15, 2022 for an amazing golf experience and opportunity to give back to an amazing cause! The Oakville Hospital Foundation connects generosity to world-class community healthcare at Oakville Trafalgar Memorial Hospital. ...Read more...
Affordable Housing Is A Key Theme In Federal Budget 2022By Scott WestlakeApril 8, 20220 comments#budget #housing #drsherrycooper #drcooper #twt #SW #DLC Today's budget announced a $10 billion package of proposals intended to reduce the cost of housing in Canada (see box below). The fundamental problem is insufficient supply to ...Read more...
Working With Scott Westlake & The Westlake TeamBy Scott WestlakeApril 5, 20220 comments#agencyad Recent Article For The Agency Oakville Website: scottwestlake.com Cell: 416-436-1135 Email: Scott@TheWestlakeTeam.com Read more...
Understanding Your Mortgage Rate.By Scott WestlakeApril 5, 20220 comments#interestrate #mortgagerates When it comes to mortgages, one of the most important influencers is interest rate but do you know how this rate is determined? It might surprise you to find out that there are 10 major factors that affect the interest you will pay on your home loan! Knowing these factors will not ...Read more...
How & Why Credit Matters To Mortgage LendersBy Scott WestlakeMarch 28, 20220 comments#credit The Credit Challenge. For most people, credit score isn’t something you spend much time thinking about. Especially if you are someone who is making good money and paying all your bills on time. When you are in that boat, it feels pretty good! But, when you miss a payment or ...Read more...
Inflation Pressures AcceleratingBy Scott WestlakeMarch 21, 20220 comments#inflation #drsherrycooper StatsCanada today reported that consumer prices rose 5.7% year-over-year in February, up again from the prior month's 5.1% rise. This was the largest gain since August 1991 (+6.0%). ...Read more...