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Taghouse purchase

Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!

Blog Image, Interest Only Flex, July 2018There’s a great new flexible interest-only mortgage product that could prove beneficial for a number of borrowers, including first-timers, real estate investors, professionals, seasonal workers and others looking for lower monthly mortgage payments.

Designed to help borrowers increase monthly cash flow by providing maximum flexibility, this product can be used for both purchases and refinances.

I recently tried this product out and was really impressed!

Continue reading “Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!”

Down payment verification… a quick checklist to ensure your purchase goes smoothly.

CanadianBillsWhat you need to know about your downpayment.

You’ve got your downpayment and you’re ready to go. Congratulations! Soon, you’ll need to verify that downpayment for your mortgage approval. It’s required by all lenders to protect against fraud and to prove that you are not borrowing your downpayment, which changes your lending ratios and potential approval.

Here’s how to prepare:

  1. Provide a 3-month history of any bank account(s) where you have been assembling your downpayment. It’s critical that your name is linked to the account; some internet print outs don’t show a name.
  2. If you had any large deposits, show its source i.e. if you sold your car, show a copy of the bill of sale. If you transferred money in from another account, bring the records for that account too. Continue reading “Down payment verification… a quick checklist to ensure your purchase goes smoothly.”