Jackie Loewen - TMG The Mortgage Group

04/01/2019

TRUDEAU'S BUDGETS HOME-BUYING MILLENNIALS WITH EQUITY PLAN..

Canada’s housing agency will spend up to $1.25 billion over three years to take equity positions in homes purchased by first-time buyers, part of a plan by Justin Trudeau’s government to make entering the property market more affordable for the youngest voters.

12/10/2018

QUALIFYING A BORROWER FROM THE LENDER IS BASED ON THE INFORMATION GIVEN.

12/05/2018

WHAT IS BEST FOR CLIENT? - It is the mortgage professional responsibility to explain the reasoning behind the mathematics to borrowers, in order to better equip them when making mortgage decisions that best suit their individual circumstances.

Therefore important documents has to be provided in order to produce the right answers to the client.

11/30/2018

THE FIVE C's of Credit
Qualifying the borrower

1.) CAPACITY- The ablity to pay the loans, the most critical one.

2.) CAPITAL - The amount of money the borrowers have invested for the property.

3.) CHARACTER - The general impression of how trustworthy borrowers are to repay loans.

4.) COLLATERAL - The guarantee in the form of security that can be provided to the lender.

5.) CREDIT - Ask about the credit history of the borrowers, and more particularly, their payment history.

11/28/2018

Five steps in the Mortgage Application Process:

1.) Meeting with client
2.) Maintaining a Loan File
3.) Evaluation of the Security and the Borrower
4.) Assembling the Documentation and Presenting to Lenders
5.) Negotiation and Commitment

11/13/2018

Things to get your Mortgage Loan Approved

1.) Know your credit score - 650 and above
2.) Cash for closing costs
3.) Stay in your job at least 2 years - Lenders approve your home loan base on the information you provided in your application.

11/12/2018

THINKING TO FINANCE A HOME?

Advantage of putting more than 5% down payment.

More than 5% down payment not only knocks down your Mortgage balance but also alleviate your Mortgage Insurance.

11/11/2018

Some provinces celebrate Remembrance Day as a statutory holiday.

CMLS and Street Capital rates are warning to change. It will be updated accordingly.

11/09/2018

The wounds remain. In time, the mind, protecting its sanity, covers them with scar tissue and the pain lessens. But it is never gone. "Praising what is lost makes the Remembrance dear." - ThoughtCo.