23 - Blog - The Westlake Team

First Responder Mortgage Program

By Scott WestlakeMay 17, 20210 comments

#firstrespondermortgageprogram #firstresponder #DLC #TWT #SW

We are extremely excited to share the news about our NEW Mortgage Program! Exclusive to DLC and available through our Mortgage Brokers -The Dominion Lending Centres First Responder Mortgage Program. Launch date June 1, 2021! This is an incredible offering that allows us to ...Read more...

Recently Funded - High Ratio Insured Purchase For First Time Home Buyer

By 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...

25 Tips To Pay Down Your Mortgage Faster and Save You Money

25 Tips To Pay Down Your Mortgage Faster & Save You Money!

By Scott WestlakeMay 11, 20210 comments

#paydownmortgagefaster #sw #twt #DLC

For more information on working with Dominion Lending Centres and/or one of our brokers for your next mortgage, contact scott@thewestlaketeam.com 25 Secrets To Pay Down Your Mortgage Faster & Save You Money. Twenty-five or thirty years can sound like an impossibly ...Read more...

Outside The Box - Container Homes Tiny Homes and Yurts

Outside The Box - Container Homes, Tiny Homes & Yurts

By Scott WestlakeMay 7, 20210 comments

#outsidethebox #alternative #financing #DLC #SW #TWT

Outside The Box. For most Canadians, a home looks like a few different things. It is either a single-family dwelling, a townhome, condominium or a high-rise. But Daniel Croft, Vice President of Giant Container Services, is looking to change that! In the quest to find less expensive ...Read more...

Recently Funded - Self Employed Mortgage Refinance $1.4M

By 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 Program

By 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...

How To Afford a Secondary Property In Retirement

By Scott WestlakeApril 28, 20210 comments

#seondhome #retirement #SW #TWT #DLC

For support on setting up a mortgage for a second property or for any mortgage related advise or information on this article, you can contact our office, scott@thewestlaketeam.com or 416-436-1135. How to Afford a Second Property in Retirement. More and more Canadians ...Read more...

Common Myths About Credit Scores You Should Know When Applying For A Mortgage

By Scott WestlakeApril 27, 20210 comments

How is your credit score calculated? It is a complex answer and, as such, common myths persist. Today, we are going to help you get a better understanding of your credit score and how to make the grade by busting the most common credit score myths! MYTH #1: TOO MANY CREDIT CARDS ...Read more...

10 First-Time Homebuyer Mistakes.

By Scott WestlakeApril 26, 20210 comments

#FTHB #10firsttimehomebuyermistakes #buyermistakes #mortgagrbroker #mortgaegbrokerage

For information on working with Dominion Lending Centres, The Westlake Team or Scott Westlake on your next mortgage, be it pre approval, purchase, refinance or switch, please contact our team @416-436-1135. Article: As a first-time buyer, there are some homebuyer ...Read more...

Recently Funded - Property Acquistion + Construction Capital For Multiple Triplexes

By 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...

Bank of Canada Holds Rates Steady, But Pares Bond-Buying Program

By Scott WestlakeApril 21, 20210 comments

#mortgagerates #ratechange #SW #TWT #sherrycooper #DLC #mortgagebroekr

For more information on how our mortgage brokerage can help with your current or next mortgage or how this information impacts you, please connect with scott@thewestlaketeam.com ...Read more...

Trudeau Opens the Spigots for Social Spending, Income Support, and a Green Economy.

By Scott WestlakeApril 21, 20210 comments

#DrSherryCooper #DLC #SW #TWT #scottwestlake #federalbudget #mortgaegnews

For more information on how the budget impacts your current or future mortgage needs, please contact scott@thewestlaketeam.com Chrystia Freeland’s First Budget is As Promised In more than two years, the first federal budget extends Ottawa’s COVID-19 “lifeline” ...Read more...

$2M Inter Alia Mortgage - Cottage Land Acquisition

By 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...

Home Buyer Guide

By Scott WestlakeApril 14, 20210 comments

#homebuyingguide #cmhcbuyingguide #dlc #twt #SW #scottwestlake

For a copy of the CMHC home buying guide, please email scott@thewestlaketeam.com Market Smarts: Home Buying Guide. The Canada Mortgage and Housing Corporation (CMHC) is one of Canada’s three mortgage insurers. Beyond insuring mortgage, CMHC also offers consumer ...Read more...