“OTHER INCOME SOURCES”

General Janette Roch 25 Jan

Today I wanted to share with you some “OTHER INCOME SOURCES” you may not realize we can use in the Broker world, for example:   Non Occupying Co-Borrower – check out this article for more info Car, Living or Housing Allowance Parental Leave Foster Care Canada Child Benefit (CCB), Provincial Child Benefit, Family Allowances Support […]

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Insurance Products in the Mortgage Industry

General Janette Roch 25 Jan

1 – Default Insurance The first and perhaps most common form of insurance when discussing the mortgage space is known as “default insurance”. The purpose of mortgage default insurance is to protect the lenders, allowing them to lend money more aggressively. This type of insurance is mandatory for any homes where the buyer puts less […]

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PURCHASE of a SECOND HOME

General Janette Roch 25 Jan

Whether it is to get away to the cottage, a need to be closer to your job, or sending the kids to University – buying a Second Home is becoming increasing popular and is VERY similar to the purchase of your Principle Residence. The minimum down payment remains 5% of the purchase price and will […]

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3 Things You May Not Know About Cash-Back Mortgages

General Janette Roch 25 Jan

It can get pretty exciting to see campaigns around “cash-back mortgages” but, before you get too far along, here are three things you might not know about these types of mortgages: Occasionally you will see campaigns on cash-back mortgages, so don’t jump at the first one you see! These types of mortgages are available through […]

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Property Transfer Tax

General Janette Roch 25 Jan

Closing Costs:  As a Mortgage Broker, our job is to ensure you can produce not only the down payment, but all CLOSING COSTS as well.  Today I wanted to cover off the largest one that surprisingly, many forget to budget for:  Property Transfer Tax What Is PTT? Property Transfer Tax is a Provincial Government tax […]

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NO Stress test option now available

General Janette Roch 25 Jan

I now have access to a new BC lender and they have some amazing underwriting programs .. You are going to want to read this 😊 A NON-STRESS TEST option, slightly higher in rate BUT can get the clients MUCH higher in pre-approval numbers. Example: $100K income, 5.39% Stress test and 20% down = $420 […]

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BAD things happen to REALLY, REALLY GOOD people

General Janette Roch 25 Jan

If there’s one thing I’ve seen in 20 years as Mortgage Broker its this:  BAD things happen to REALLY, REALLY GOOD people.  Divorce, health issues, accidents, failing parents, failure of business, pandemic….. there are a ton of reasons why someone’s credit score may have gone down the toilet.  My job is to listen, package it, […]

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Document Requirements by Lenders

General Janette Roch 25 Jan

Today I am going to go over Document Requirements when getting a mortgage – Lenders today are SO incredibly picky about documents – it almost always takes people by surprise as to how much is required these days.  We do try to collect as much as we can at pre-approval stage, however many documents become […]

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New to Canada Program

General Janette Roch 25 Jan

As we all know, Canada has seen a surge of international migration over the last few years so it’s a good time to review some of the details surrounding mortgages and how individuals new to Canada can qualify to be homeowners. If you have a client who is already a Permanent Resident or has received […]

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Collateral Mortgage Charge

General Janette Roch 25 Jan

Let’s get right down to it – today I am going to chat about the Collateral Mortgage Charge. Collateral mortgages have had a bad rap when they first came out, but to the right client they do come in handy: if there is a good amount of equity in the property that you feel you […]

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