How does being Self-Employed affect my Mortgage?
Over 80% of my business in 2021 has been self-employed clients. With the pandemic, many companies have switched their employees to WFH, or transitioned them from salary to commissioned, and some people have outright left their salaried positions to pursue entrepreneurship.
New Year, New Award: Carlo Del Giudice now TOP 2% of Brokers in Canada
You can’t build an empire without a solid foundation and I've taken what I've done in my previous year (2020) and doubled it in 2021. Allowing me to be awarded the title of “Master”- a title awarded to the top 2% of Mortgage Brokers in Canada.
Why I Became a Mortgage Broker
After working at a reputable BIG 6 bank for over 7 years, starting as a teller and working my way up to Mobile Mortgage Specialist for the last 3 years there, I often get asked why I left?
What is Private Financing?
Private mortgages should never be a long term solution and should only be entertained for periods of 6 to 24 months. Private mortgages are meant to be short term solutions bridging the gap between the period of when a borrower may not qualify for traditional lending to when they can qualify for traditional lending. A great Mortgage Broker will always have an exit strategy to get the borrower out of private financing and into traditional lending.
Bank of Canada Announces No Interest Rate Hikes Until 2023!
The Bank of Canada has confirmed that there will be no interest rate hikes until 2023. However, this does NOT confirm that the banks will follow suit. As we’ve seen already earlier on the pandemic, as the BOC lowered the overnight lending rate, the banks mortgage rates were increasing. Existing variable rates on the books were becoming less expensive to the consumer and with all of the uncertainty surrounding COVID the banks elected to raise interest rates to account for this uncertainty.
How Much Money do I Need to Buy A House?
Home ownership is not always as difficult to attain as it seems when purchasing a home through a bank or a monoline lender (unlike a bank, a monoline = a lender whose only product is mortgages).
10 Unique Scenarios where a Mortgage Broker can help you
Choosing a mortgage broker opens a vast amount of lending avenues for you as the borrower. Every client and every lending scenario is unique, I have taken the time to provide you with a few examples of scenarios where a Mortgage Broker is better suited to provide you with a lending solution over a Bank Mortgage Specialist (or bank representative).
Fees to Consider When Buying a Home
Mortgage brokers DO NOT always charge a fee, they have YOUR BEST INTEREST in mind and have the ability to send your deal to multiple lenders to obtain the best terms and rate for your situation.