Christine Buemann Mortgage Broker

It has been heavily publicized how insurers and lenders alike have been increasingly tightening up their approval guidelines, making it significantly more difficult to obtain a mortgage in Canada.   Most people will feel so discouraged when they are declined by their bank, that they may not look for a second opinion or they may not even know that they have other options. Mortgage Brokers have the ability to shop the "A" lenders for the best rates and products to suit your needs but we are also licensed to look at "B" lenders or even private lenders, depending on your situation.   For example, we have access to an alternative lender who is currently offering "Stated Income" mortgages on rentals (65% LTV max) or a private lender who has rates as low as 4.5% (rates are file specific). Using a Mortgage Broker will allow you to explore all of your options and have professional guidance to determine the best solution for you.   Contact me for more in

Do you want to know what size of mortgage you qualify for but are unsure of what income to use? When calculating debt ratios, it is very important to know how much to use as your qualifying income. Here are a few basic guidelines: L enders will use the average of your last 2 year's Gross income if: ·          your income fluctuates ·          you receive bonuses or overtime ·          you are part time (unless you are guaranteed a certain number of hours) ·          you are self-employed ·          you are paid on commission ·          you are paid as a sub-contractor ·          you are using pension income ·          you are using investment income This amount is taken from your Line 150 on your T4's and /or Notice of Assessments. If you have not been at your current job for more than 2 years, they may accept a 2 year history if your employment was in the same industry. They will use your Gross annual wage if: ·          you are hourly and guaranteed full