Creative Financial Solutions and Alternative Lenders
For many of my clients finding creative financing solutions for them has made all the difference in getting an approval and helping them purchase their first home!
This is one of the biggest benefits of working with a mortgage agent like myself, rather than working directly with your bank. My team and I have access to Alternative Lenders and products which offer clients greater flexibility.
Remember, not all lenders view income (especially business for self clients) the same way. Depending on your current employment and/or situation, I can match you up with the lender and mortgage that is best suited for you and your needs.
What creative solutions can your lenders offer me?
Some Creative Solutions that have made all the difference in getting an approval or the lenders I have access to that have specific niches such as:
Clients that need longer amortization schedules in order to make the deal work and stretch their purchasing power
Lower-income earners with government income such as a pension can be grossed up by up to 35% by some lenders
Clients that are currently on maternity leave, I have lenders that will count 100% of their return to work income regardless of what their RTW date is. With limited income verification.
85% rental offset as opposed to big banks which offer 50% add to income rental value
Some of our lenders allow 100% of child tax benefits and child support without a court order
These are just a few examples of creative financing solutions that our lenders offer clients that work with us.
There’s nothing worse than having your offer fall through because you can’t obtain financing. This is why we recommend obtaining a pre-approval certificate or including a clause for financing in order to secure your funds and protect yourself from losing your deposit when putting an offer in on a property.
To learn more about Creative Financial Solutions reach out today.
How can Ahmad, mortgage specialist at AskAhmad.ca and the Total Mortgage Source 360 Team help you?
Ahmad and his team are industry experts on mortgages. They offer excellent customer service and pride themselves on their ability to help you find the right mortgage product for your needs.
We can offer you some of the most competitive interest rates and mortgage products available because we have access to Canada’s leading lenders, including banks, mortgage firms, trust companies and private lenders.
Total Mortgage Source 360 FSRA#12151 – Each office is independently owned and operated
Meet Ahmad, Your Mortgage Specialist.
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