HOW MORTGAGE BROKERS HELP YOU GET APPROVED BY ‘A’ LENDERS
Skilled Mortgage Brokers Can Help
Every year Canadian families are caught in unexpected bad circumstances. Only to find out the banks and the credit unions are there to lend money in the good times, not so much during the bad times.
This is where thousands of families have benefited over the years from the services of skilled Mortgage Brokers. They has access to dozens of different lending solutions including trust companies and private lending corporations. These shot-term solutions can help a family bridge the gap through business challenges, employment challenges, health challenges, etc.
The key to taking on these sorts of mortgages is always in having a clear exit strategy. Which in some cases may be as simple as a sale deferred to the spring market. Most times, the exit strategy involves cleaning up credit challenges, getting consistent income back in place, and moving the mortgage debt back to a mainstream lender (or ‘A’ lender).
How The New Rules Effect Our Clients
The challenges for our clients over the last few years has been the constant tinkering with lending. Guidelines by the federal government and the changes of January 1, 2018 represent far more than just tinkering.
These changes have effectively moved the goal posts well out of reach for many client currently in ‘B’ or private mortgages. Clients who have made strides in improving their credit or increasing their income will find that the new standards have put that A-lender mortgage just a little bit out of reach.
Are you hoping to make a move to the A-Side in 2018?
Contact us for help. At Client First Mortgage Solutions we can look at your unique situation and find a solution that will work for you. Because we have access to different lending solutions, we can help get you a mortgage when the banks can’t. And once we have determined an exit strategy, we can help you get over to the A-Side. Be sure to visit our website and watch one of our many informational videos on why Mortgage Brokers like us can help you. Contact us today!
Original Article – Dominion Lending Centres – January 19, 2018
