What do banks look for? Mortgage Milton

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The 5 C's of Credit. What your bank needs to know before they will approve your mortgage. You are more than just numbers on paper when applying for a mortgage loan, so you need a mortgage broker that tells your story to the mortgage lender.

Whether you are first time buyer, mortgage refinancing, have bad credit, self employed, debt consolidation or have equity in your home, your story is unique and needs to be told so.

Happy help. Serving Milton, Burlington, Mississauga, Oakville in Ontario, Canada

Published in: Economy & Finance, Business
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What do banks look for? Mortgage Milton

  1. 1. Mortgage Agent #M10001503 Brokerage #12358
  2. 2. Financial Services - Banking, Stock Broking, Financial Planning Clothing Production - Factory Management (Jockey) Marketing Automation - Start up to Acquisition Licensed with FSCO - Financial Services Board of Ontario Member of Independent Mortgage Brokers Asso Licensed Agent under Mortgage Edge Brokerage Governed by the MBLAA – Mortgage Brokerages, Lenders and Administration Act Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  3. 3. The 5 C’s of Credit: • Credit • Capacity • Capital • Collateral • Character Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  4. 4. Call Direct: 647-274-6029 www.MortgageSource.biz Can you afford your mortgage: • Income Type • Employment Status • Covenants • GDS / TDS Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  5. 5. Mortgage Down Payment: • Source - Equity - Cash - Gifts Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  6. 6. Bank Mortgage Security: • Property Type • Location • Age • Purpose • Owner Occupied / Rental Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  7. 7. What makes you a good Mortgage Risk for the bank: • The Story • More than numbers • Who are you Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  8. 8. Beacon Score B Lenders Expensive Money A Lenders Cheaper Money Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  9. 9. - Credit Report Call Direct: 647-274-6029 www.MortgageSource.biz Poor Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  10. 10. - Credit Report Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  11. 11. - Credit Report Good Bad Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  12. 12. • Beacon 489 • $79,000 in arrear debts (Credit) ✗ • Self Employed – little income, no web presence • Separating from Wife • $1,750 in Child Support (Capacity) ? • Selling existing Home (Capital) ✓ • Buying a New Home (Collateral) ? • Not a good story (Character) ✗ Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  13. 13. • Debt Negotiation saved $30,000 - avoided Consumer Proposal or Bankruptcy - Cleared all debt saving $884 pm • New Mortgage with B Lender - 80% LTV - 1 year rate at 5.99% Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  14. 14. We do the WORK! Contracts with over 28 Lenders We find the mortgage that is right for you. Call Direct: 647-274-6029 www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503
  15. 15. Warwick Johnston Your “Mortgage Source” Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503

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