2. Overview
 Today's world of finance is becoming increasingly complicated, with
lenders all facing massive competition from their rivals in trying to attract
new business.
 Often, the most difficult task a client has when trying to raise finance, is
which of these multitude of lenders to approach. Each will have their own
lending criteria, underwriting and market preferences, so that a client
may take a perfectly reasonable proposal to the 'wrong' lender who will
reject it - not realising that there are others in the marketplace that would
be actively looking for that type of deal.
 We have access to most lenders in all areas of Residential and
Commercial Financial market and have the ability to offer rates that
would not be available in the streets.
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

3. Lecom Mortgage Brokers offers
 Integrity
 Transparency
 Action oriented
 Working knowledge of deal
 Strong communication skills
 Attention to detail
 Negotiating strength and good reputation with lenders
 Experience in helping people to achieve their goals
 Highest professional standard in the mortgage industry
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

4. Ways we can help…
 we put the proposal subject to valuation, references etc.
 First Time Buyers
 Home Movers
 Capital Raising on existing property
 Holiday Home Purchase
 Adverse Credit mortgages
 Buy-to-Let Mortgages
 Let and Buy Mortgages
 Ex-Bankruptcy
 Self Employed
 Bridging Finance
 Arrears and Default cases considered
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

5. How do we help…
 Choice of lenders
 Independence and objectivity
 Negotiating power (best rate for your situation)
 Access to rate promotions
 Expertise
 A focused specialist
 Potentially lower rate at renewal
 One credit inquiry
 No cost
 Personal attention
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

6. Meet our Principal Broker (Lic. M09000269)
Carlo Ruggeri
 My background includes many years of experience in the mortgage
financing business
 While rate is important, it’s critical to look at mortgage options and
privileges like pre-payment features, which can save you thousands
 My goal is to develop mortgage plans that are a custom fit to every client
 My business has been built primarily from referrals from satisfied clients
and referral sources
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

7. Who can benefit by using our services,? Anyone for…
 Commercial 2ndMortgage
 First buyers for Apartments Buildings / Condo / House
 Construction loans
 Non-owner occupied rentals
 Condo conversion
 Farms
 Manufacturing
 Equipment financing
 Rent to own
 Land
 Commercial property owners
 Developers
 Home builders
 Small Business Entrepreneurs
 People who are action oriented
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

8. Mortgage Options for Residential
 Term – The length of the current mortgage agreement. After the term
expires, the mortgage can be repaid, or renewed for a new term and rate:
 Terms range from 6 months to 10 years
 Most common term is 5 year fixed
 Amortization Period – The time over which equal payments would
pay off the mortgage. This is normally 25 years for a new mortgage,
amortizations up to 35 years are available, although there is a 30 years
maximum amortization for insured mortgages
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

9. Conventional Mortgage vs Insured
Conventional Mortgage
 Your down payment is a minimum 20% of the purchase price
Insured Mortgage
 A mortgage that is more than 80% of the purchase price of the
home, requires mortgage insurance
 It protects the Financial Institution and, by law, most Canadian
lending institutions would require it
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

10. Loan-to-Value Premium on Total
Loan
Premium on Increase to Loan Amount
for Portability and Refinance
Up to and including 65% 0.60% 0.60%
Up to and including 75% 0.75% 2.60%
Up to and including 80% 1.25% 3.15%
Up to and including 85% 1.80% 4.00%
Up to and including 90% 2.40% 4.90%
Up to and including 95% 3.15% 4.90%
90.01% to 95% —
Non-Traditional Down Payment**
3.35% *
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca
Mortgage Insurance Costs

11. Mortgage loan submission
 Even with a pre-approval there will be a final mortgage approval after an
offer is made. We shall need a copy of the property listing and the offer to
purchase.
 We shall use the lender that best meets the needs, submitting all of the
required documentation. When the approval is received, the borrower can
decide if to waive the financing condition. If there are any, all prior to
funding conditions need to be met.
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

12. What lenders like to see
 Good and established credit, i.e. pay bills on time and don’t have access to
a lot of unused debt.
 Adequate income to support mortgage
 In today’s mortgage world, strong credit and good down payment can
mean no income verification.
 A property that is marketable with a reasonable purchase price.
 Considered down payment:
 Savings (need proof), borrowing, a gift, the home buyer’s plan, or the
proceeds from property sale?
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

13. New mortgage
 More Canadians than ever before are achieving the dream of home
ownership. The market has really changed over the last few years and
there are now mortgages available for almost any situation:
 Flex down or no down payment mortgages for young families, divorcees,
or those with good income but no savings.
 No income documentation required for certain situations, particularly the
self employed, new immigrants.
 Mortgages that repair damaged credit.
 Mortgages with excellent options and features that will help you become
mortgage-free faster.
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

14. Plan for closing costs
 Closing costs are the legal, administration and other fees associated with
buying a home, They range from 2% to 4% of a home’s selling price and
can include:
 Home inspection
 Land/property transfer tax
 Legal fees
 Adjustments i.e. interest & property tax
 Appraisal fee
 Utility connection fees
 Moving costs
 Title insurance
 Furnishings/appliances
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

15. Sequence of Events
1. Pre-approval
2. Conditional offer to purchase
3. Counter offer from seller (if any)
4. Conditional agreement
5. Mortgage approval
6. Satisfactory home inspection
7. Remove conditions on purchase contract
8. Binding purchase agreement
9. Closing day at lawyer’s office
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

16. Closing Day
 Lender will provide the mortgage money to the lawyer
 The balance of the purchase price must provided and all closing costs to
be taking care of
 Lawyer uses funds to pay the vendor,
transfers the title, registers the mortgage
 The keys for your client!!
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca

17. Next Steps
 Book an appointment with us
 Get a Pre-approval….!!
 More information for Commercial and Construction Mortgages at
“www.LecomMortgageBrokers.ca”
Tel 1-800-827-1786
admin@LecomMortgageBrokers.ca