Table of Contents Draw & Construction Mortgage Guide What is a draw mortgage? A draw mortgage, also known as a construction mortgage is a mortgage type used to finance the construction of a property. It allows for a home builder to draw on funds as needed to complete the build. Normally in a draw mortgage, a builder will need to submit...
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Table of Contents What is Bridge loan financing? Who Needs a bridge loan? What is bridge financing? A bridge loan is a sum of money lent by a bank to cover an interval between two transactions. Typically the buying of one house when selling another. In simple terms Bridge loans are used when you have a firm sale on a current...
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Table of Contents How to get a lower mortgage interest rate? Step 1 Contact a high volume mortgage broker, not a bank. Reason for contacting a broker is that we pull your credit only once and then shop around for rates for you. The high volume mortgage brokers get discount from the banks on rates. I am a high volume...
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Table of Contents Mortgage Types and Terms You Need To Know What Kind Of Mortgage Should I Get? Most Common Types Of Mortgages Fixed Rates For Buyers that want security or want to lock into an extremely low rate. Normally people lock into a 5 year fixed term as the banks are most competitive in the 5 year term. This is...
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Table of Contents 5 C’s of Credit: How to Become Credit Worthy? What are the 5 c’s of credit? Character Capacity Capital Collateral Conditions What do they mean, and what are potential lenders looking for? Character: The reputation of the Buyer or Borrower. We can check your reputation by pulling your credit bureau such as Equifax or transition....
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Table of Contents How To Get A Mortgage? Step By Step Instructions On Real Estate Financing Step 1. Contact your mortgage broker or me! 780-278-4847 We will have an initial conversation about your mortgage goals and I will get an understanding of what you require. Step 2. I will text or email you a mortgage application to fill out Please ensure...
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Table of Contents How to Repair your Equifax Credit Report Why Repair your Equifax Credit Report? You will want to repair your Equifax credit report in order to get good credit. If there are errors to your report, you can fix this in just a few steps. Further to this, if you do have bad reporting, this can also be fixed...
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Table of Contents Should I Cosign A Loan? What Can Go Wrong? Who Can Cosign On A Mortgage Loan? Anyone can cosign for another person. It does make you fully responsible for the loan. When you cosign for a mortgage, the mortgage loan is registered on your credit bureau and the other owners credit bureau A person should only cosign...
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Table of Contents How To Repair Your TransUnion Credit Report Why repair your TransUnion credit report? You will want to repair your TransUnion credit report in order to get good credit. If there are errors to your report, you can fix it in just a few steps. Further to this, if you do have bad reporting, this can also be fixed...
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Table of Contents Step By Step Guide Of Buying A Home Step By Step Instructions On How To Buy A Home Early Stage 1 At this stage you are shopping around on Realtor.com, realtor.ca, Zillow or one of the other multiple listing services. You do not have a realtor yet and are not yet serious. Early Stage 2 You see something...
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