Tired of not getting a straight answer about your mortgage from your bank or current mortgage broker? Do you feel like everything is left to the last minute? There are several reasons why delays happen. Keep reading to find out why delays can happen and how you can avoid them.

By following some of these easy steps, we’ll help you get the best possible mortgage that combines competitive rates and flexibility. Remember the lowest rate isn’t always the best option, especially if the mortgage has constraints such as the option to renew the mortgage early, moving the mortgage to a new house or even pre-paying the mortgage. Some of the mortgage rates you see online are simply “bait-and-switch” tactics. If the rate is too good to be true, it probably is! I know that doesn’t seem right, but it’s a fact.

That’s why it’s even more important now to work with a reputable mortgage brokerage that has been in business for a long time and has an excellent reputation. That’s where we come in!

Here are some tips to get the best possible mortgage and feel confident about your mortgage approval.

Avoid surprises – be up-front, don’t worry about being “complicated”!

Because we’ve helped 1000’s of people with their mortgage we have the expertise to help clients who have straight forward applications (like T4 salaried income) and those that can be complicated. Some of the things that can make a mortgage application complicated are being self-employed, owning multiple properties, having a lot of debt besides a mortgage or job loss.

Often bankers or other mortgage brokers are inexperienced and don’t have the knowledge to put together a mortgage application and present the application for an approval. If there’s a good story on why your income has fluctuated, we tell the story with the aim of getting you approved for the mortgage.

Provide all income documents up-front to get a valid pre-approval so your purchase offer is strong.

We always like to get clients’ information before we schedule a full mortgage consultation. Why? By having this information up-front we can do the necessary pre-work and be prepared for the appointment. It helps you get a clear picture of what you are approved for. In this market you may be competing to buy a house with other buyers. Doing this extra work up-front means you’ll have a better chance for a stronger offer and winning the bid.

If you’re redoing your mortgage to consolidate debts or purchasing another property, being organized is also important. When you are organized, we can negotiate on your behalf to get the best possible mortgage option for you!

There are always good options if you don’t qualify through a bank. 

If you’ve been declined by your financial institution, we can likely help you as there are good options available for borrowers who have difficulty qualifying for a mortgage. If you have 15-20% as a down payment on a purchase you can likely qualify for a mortgage through an alternative lender or even a private mortgage. Refinancing a mortgage is often easier, even if your bank has declined you.

Remember, we’re here to help and are always open to answering your questions. Please be sure to contact us directly! /contact-us/