Canadian Mortgage Professionals 2019 Hot List

Canadian Mortgage Professionals 2019 Hot List

By Scott Westlake0 comments
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 House

How To Know When You Are Ready To Buy A House

By Scott Westlake0 comments
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 35

Top 35 under 35

By Scott Westlake0 comments
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 Estate

How To Finance Luxury Real Estate

By Scott Westlake0 comments
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 and N with Scott Westlake on Mortgages

Q & N with Scott Westlake on Mortgages

By Scott Westlake1 comments
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 Calculator

Mortgage Affordability Calculator

By Scott Westlake0 comments
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 Rate

How To Get The Best Mortgage Rate

By Scott Westlake0 comments
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 and GTA

Reverse Mortgage Oakville & GTA

By Scott Westlake1 comments
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 Newsletter

February 2019 Mortgage Newsletter

By Scott Westlake0 comments
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...
Jumbo Mortgage

Jumbo Mortgage

By Scott Westlake1 comments
The Westlake Team recently connected with multiple lenders to discuss Jumbo Mortgage Solutions.  As a Mortgage Team that finances a lot of luxury real estate, its natural that many requests come in for large mortgages.  Depending on circumstances, traditional "Jumbo Mortgage" ...Read more...
Commercial Mortgage Oakville GTA

Commercial Mortgage Oakville, GTA

By Scott Westlake0 comments
Commercial Lending is one of our fasting growing verticals within The Westlake Team.  Similar to our Residential vertical, we have built significant relationships with Banks, Credit Unions, Trust Companies, Insurance Companies and Private Capital to once again, be our commercial ...Read more...
First Time Home Buyer Mortgage GTA

First Time Home Buyer Mortgage GTA

By Scott Westlake0 comments
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...
Mortgage insurance for Self Employed

Mortgage insurance for Self Employed

By Scott Westlake0 comments
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 Qualifications

Self Employed Mortgage Qualifications

By Scott Westlake0 comments
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...
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