Are you facing financial hardship? Don't miss this episode of The Mortgage Secrets Podcast! Discover practical solutions for getting a mortgage after bankruptcy. We'll guide you through the waiting game, alternative lending options, and the world of private lenders. Plus, learn why sharing your story can work in your favour. Tune in for essential insights on your path to homeownership. 🎧🔑 #MortgageSecrets #FinancialRecovery #HomeownershipAfterBankruptcy

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Join us on The Mortgage Secrets Podcast as we dive into a game-changing episode: "Secure Your Child's Future: Back to School Homeownership Tips for Parents." 🎒🏠

As summer winds down and the back-to-school season approaches, Canadian parents have a golden opportunity to plan for their children's education while securing their financial future. Discover the advantages of buying a rental property now, building equity for the next generation, offering affordable rent during university years, and imparting valuable life lessons to your child. 📚💰

Tune in to this insightful episode to learn how you can pave the way for a brighter future for your child while making a strategic move toward homeownership. Your child's financial well-being and life lessons that last a lifetime are on the horizon. Don't miss out! 🎉

Questions??? Lets' chat! www.chatwithcraig.ca

#Homeownership #FinancialPlanning #ParentingTips #PodcastEpisode #MortgageSecrets

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Discover the ins and outs of bridge financing in this episode of the Mortgage Secrets Podcast. Bridge financing, a short-term loan, fills the financial gap between selling your existing property and purchasing a new one. It's vital when buying before selling or when closing dates don't align. Learn about the application process, benefits, and risks, and gain expert tips for a successful bridge financing experience. Subscribe for more mortgage and real estate insights on the Mortgage Secrets Podcast.

The game-changing secret for self-employed individuals who want to qualify for a mortgage without increasing their personal income. I reveal an alternative approach to traditional lenders that can save you from paying higher personal income taxes. By exploring the option of "B" lenders, you can showcase your bank statements for the past six to twelve months, providing a snapshot of your recent revenue. While it may come with a slightly higher interest rate, the potential tax savings often make it a more advantageous choice.

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The notion that a realtor needs to have a PREC for at least two years before being able to obtain a mortgage is nothing more than a common misconception. Lenders consider an overall 24-month income period, and it's vital for realtors to collaborate with a mortgage professional who can help them navigate the options and find the ideal mortgage for their specific needs.

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In this episode, we explore the common misconception that the lowest interest rate equals the lowest cost mortgage. We uncover the impact of factors like the bona fide sales clause, lack of portability, and limited prepayment privileges, revealing how these can outweigh the initial savings of a discounted rate. Discover why it's crucial to look beyond the interest rate and consider the overall cost when choosing a mortgage.

Questions? Go to www.chatwithcraig.ca to schedule a call

When the Greater Toronto Real Estate Market is on fire and sellers have all the leverage, bidding wars are a common phenomenon. Bidding wars are oftentimes confusing, frustrating and complicated so let's take a closer look at what REALLY happens behind the scenes.

Need a rockstar realtor referral? Let's Chat!

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Please find below some useful tips:

• Most major lenders require a minimum of 2 full years of credit history with at least 2 active trade lines and a minimum of $3,500 of available credit before they will consider offering you a mortgage. This demonstrates that you have a history of paying back borrowed money before being given theirs.
• It is important to never go into overdraft on your credit card, as this could cause you to borrow more money than your credit limit allows.
• Try to keep your credit utilization below 30% of your credit limit. For example, if you have a credit card with a $1,000 limit, try not to have a balance over $300.
• Missing a minimum payment on even a small cell phone bill can negatively impact your credit score for up to 2 years, so be sure to always make your payments on time.
• Remember to use your credit cards, as inactive accounts do not help your credit score.
• Additionally, overpaying your account by even just $1 can help boost your credit score.
• Limit the number of hard inquiries on your credit report, such as applying for new credit cards or vehicle financing.
• Refrain from requesting an increase in credit from your credit card company or bank. However, if they offer you an increase in credit, always accept it. But remember not to use the additional credit, as having lots of available credit can improve your credit profile.
• If you have deferred any payments, they will show on your credit bureau, and we will need to explain why the payments were deferred and ensure they are in good standing now.

Let's Chat: www.chatwithcraig.ca