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Buying Property with Alternative Mortgage Financing

One of the most important by-products of the recent financial crisis was the disappearance of the non-prime alternative mortgage financing products. In the past when there were no high credit score, borrowers purchasing or refinancing property could qualify for alternative mortgage loans that compensated for the added risk with increased rates of interest. Lenders that made these loans demanded 1-3% higher rates of interest than those that were available on the prime loans. Higher loans of interest were considered sufficient for compensating for the additional lending risk. In the present day market, the non-prime mortgages are available for around 5% to 7%.

However, such mortgages were eliminated by stringent financial regulations and the departure of the private secondary mortgage market. In […]

By | September 5th, 2013|Alternative Mortgage Financing, Vancouver Mortgage Broker|

How to Single Out the Right Mortgage Broker

In this world, finding reputable help can be a challenge, whether you’re looking for a lender, a real estate agent, a dentist, a lawyer, and the list goes on. I know that just the mention of some occupations probably made you cringe. And, everyone has an experience or bad story they can tell about the service or person. To help you come over those bad experiences, I have listed few tips to single out the right mortgage broker in BC. Go through it and hopefully learn from my experience:

Tip #1: Word of mouth referral is typically your best source to find someone worth their weight in gold. If you think the referral is not worthy, you can go back to […]

Advice from a Mortgage Broker in BC

As a mortgage broker in BC we are able to offer existing homeowners or ones looking to get pre-approved to purchase property in every corner of the province competitive mortgage financing to an extremely wide variety of clients employment, retirement, alimony income etc. We can also qualify all types of property types, sizes and locations. Not all mortgage lenders lend out mortgage funds on an equal basis of qualifications. The typical brick and mortar financial institutions that you opened your bank account at an early age might not be the best suited for your current mortgage needs.

It can be disheartening if you go out and shop for a mortgage on your own to different banks and each time getting a […]