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...
What We Do!By Scott WestlakeJanuary 28, 20191 comments#mortgagelending #mortgagebrokeroakville #mortgagebrokergta #thewestlaketeam #twt #mortgageadvise #corevalues #luxuryrealestate #lendingoakville #lendinggta I loved the process of creating a new website. Especially, when the designer asked us 3 very specific questions to help their company understand our business. They simple asked: 1. Who we are 2. What do we do, 3. Why do people want to work with us. I never ...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...
Mortgage ApplicationBy Scott WestlakeJanuary 18, 20191 comments#mortgageapplication #mortgageadvise #mortgageoakville #mortgagetoronto #bestrates #thewestlaketeam #twt #scottwestlake #mortgagelendinggta One of the first steps in applying for a mortgage is completing an application. A good application allows us to capture the pertinent details to fully underwrite a mortgage, be it pre-approval, purchase, refinance or renewal. So many times, we see clients take very little time ...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...
What is Mortgage Default InsuranceBy Scott WestlakeJanuary 16, 20190 comments#defaultinsurance #mortgagedefaultinsurance #genworth #thewestlaketeam #twt #scottwestlake #mortgageadvise #realestate #oakvillemortgageadvise #burlingtonmortgageadvise #torontomortgageadvise In 2018 a very common question, especially among our first time home buyers, was with regards to default insurance. I thought the best explanation out there is credit from our good friends at Genworth Financial: http://genworth.ca/en/homebuyers/index.aspx What is Mortgage ...Read more...
Credit Counselling OntarioBy Scott WestlakeJanuary 15, 20190 comments#clevercredit #creditadvise #creditsolutions #credithelpoakville #creditsupport #credithelpontario #thewestlaketeam #twt #scottwestlake #creditcounsellingontario #creditneed #poorcredit #realestate Over the last year, credit has been coming up in more conversations than I recall in the past. In the past, I was never sure how to assist. Our team underwrites and review credit on a daily basis and we therefore have a higher level of sophistication when it comes to providing ...Read more...
Mortgage Broker OakvilleBy Scott WestlakeJanuary 14, 20190 comments#mortgagebrokeroakville #mortgageoakville #mortgagebrokeroakvilleontario #thewestlaketeam #scottwestlake #mortgagecalculator #mortgagerate #mortgageteam #realestateoakville #luxuryrealestate If you are looking for a mortgage in Oakville, we would love to help! We have a terrific pulse on the market as well as any unique qualities that may arise in lending, for example, heritage properties. We work with Banks, Local Credit Unions, Trust Companies, Commercial ...Read more...
Mortgage CalculatorBy Scott WestlakeJanuary 11, 20191 comments#mortgagecalculator #calculator #mortgageapp #thewestlaketeam #scottwestlake #oakvillemortgagecalculator #torontomortgagecaluclator #mortgagecalculatorontario #mortgagecalculatoraffordability A lot of clients and referral sources ask me what the best mortgage calculator is or what I use the most. I know this may seem bias but we have our own app https://www.dlcapp.ca/app/scott-westlake available on both iTunes and Google to download. I use it whenever ...Read more...
Corporate Mortgage ProgramBy Scott WestlakeJanuary 10, 20192 comments#corporatemortgageprogram #mortgageprogram #affinityprogram #mortgageadvise #lending #thewestlaketeam #TWT #scottwestlake #realestate #lucuryrealestate #luxurylending #corporatepackage #mortgageadvise WHAT IS A CORPORATE MORTGAGE PROGRAM Our corporate mortgage program has been influenced around our existing customers. The most common referral we receive is from our clients. Its natural for friends, family and colleagues to be excited about their most recent real ...Read more...
Canadian Economic Outlook for 2019By Scott WestlakeJanuary 8, 20191 comments#mortgageoutlook #mortgagebroker #realestate #realestatelending #thewestlaketeam #scottwestlake #mortgageadvise #mortgageopinion #mortgagenews I am always a little apprehensive in making predictions on the market place, especially with regards to the broader economy of Canada. Therefore, I leave this responsibility in addressing those types of questions to DLC's Chief Economist, Dr. Sherry Cooper. Dr. Cooper's ...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...
Niche Mortgage Lending Solutions in Toronto, Oakville and rest of GTABy Scott WestlakeDecember 13, 20181 comments#niche #lenders #toronto #mortgages #construction #landacquistion #affluentlending #luxuryrealestate #mortgagesolutions #nichelending #thewestlaketesm #scottwestlake #mortgagebroker #bank #creditunion Niche Mortgage Lenders in Toronto Over the past few years, Niche lending solutions have become very popular. We define niche lenders as solution providers in the mortgage lending space that offer more unique solutions that what is considered the norm. For example, there ...Read more...
Gap Funding Solutions for Real Estate in TorontoBy Scott WestlakeDecember 12, 20181 comments#gap #funding #realestate #toronto #gta #lending #lenders #private #bridgeloan #thewestlaketeam #scottwestlake #privatelending #realestate #demandloan #bank #privatelending #oakville #toronto #GTA Gap Funding Lenders for Real Estate in Toronto, Oakville & GTA We define Gap financing as a non-traditional lending solution, when the client purchases a property and has not sold their existing home and cannot qualify to carry both mortgages. This is different ...Read more...