To me it hasn’t seemed that long ago when if you had car trouble someone always had a guy who could fix it at his place. It didn’t matter if it was as simple as brakes or a complicated as major motor work, it was all possible in someone’s back yard. Now vehicles are so […]
Sometimes it happens that your mortgage request has been declined. More often than not this is an opportunity to restructure the request and start again. See if any debts can be repaid, have you included all the assets and properly explained the sources of income and all your debts? Can you increase you down payment […]
The best time to buy a house according to the old adage is always now. In this hot real estate market and thanks to rock bottom interest rates, you will be paying down principal much faster than you are paying in interest. For example if you bought a house for 550K with 30K down on […]
https://craigburn.com/wp-content/uploads/2021/08/external-content.duckduckgo-2-3.jpg266474Pat Sawlerhttps://craigburn.com/wp-content/uploads/2015/03/craigburn-logo2-e1426637601970.pngPat Sawler2021-08-31 12:56:062026-07-09 08:10:16The best time
Usually when you pay for something you own it. The exception to this rule is for real estate appraisals. When and if they are required, they requested and owned by the lender. On the odd chance that we your broker have a copy, just remember that we can not release it to you. Appraisal are […]
The best kind of new clients to get come from referrals. This could be from past clients or referral partners like realtors or financial planners. This is because they come pre screened from a trusted source so they are people who really know what they want and have already been told who you are and […]
If you are one of the lucky few who’s mortgage is coming up for renewal in the next few months, this post is for you. Let’s say for example that you will have a mortgage balance of 300K at renewal and that you have been at 2.79% for the past 5 years on a 25 […]
Any goal worth achieving will take some planning to make happen. Take our hot real estate market for example. If you plan on buying a home in the not too distant future then you need to start to work on a few things to make that happen. We are going to look at the two […]
Rules in life and in mortgages are made to be broken, on an exception basis. Lenders look at your mortgage application and judge it based on the 5C’s of credit ( Character, Capacity, Credit, Collateral and Capital). Having a strong strength in 4 out of the 5 would be grounds to request an exception. Note […]
Simply put, unless I am sleeping, eating or doing a workout I will take your call or return your text. Try getting that same level of service from your bank or even your bank mortgage specialist who have extended hours on occasion. However even-though I may take your call, if my corresponding lender is not […]
Not all financing is created equal. There are low rates for AAA credit clients, moderate rates for alternative lending and higher rates for private mortgages. I have done a lot of private lending over the years and at the end of the day it is never about the rate it is about the opportunity cost. […]
This amounts to .5 to .10 of a percentage point as a basis point is essentially 1/100th of a percentage point. I bring this up as consumers will shop their mortgage business and leave an existing relationship at the last minute for perceived deal of 5 one hundreds of a percent. So here is some […]
As I have been a mortgage broker for just almost 20 years, I have seen a lot of interesting real estate markets. However this year really takes the cake. February, March & April anything with a roof sold as soon as it hit the market and in most cases with multiple offers and in many […]
There is a vast difference between getting pre-approved for a mortgage and getting pre-qualified. One holds your rate for up to 120 days and allows you to go house hunting and the other just gives you rough idea of what you can afford. Yes getting a pre-approval will take some time but it is worth […]
When applying for a mortgage it is necessary to provide 90 days history of your down payment. This is to prove that you did not borrow it or it was not obtained through illicit activity. Often clients have more than one bank account as a source for their down payment. This will require that we […]
https://craigburn.com/wp-content/uploads/2021/08/external-content.duckduckgo-5.jpg237474Pat Sawlerhttps://craigburn.com/wp-content/uploads/2015/03/craigburn-logo2-e1426637601970.pngPat Sawler2021-08-07 14:34:362026-07-09 08:51:3690 Days History
We all have deadlines in life from when to file and pay your taxes to due dates of new arrivals to your family and lastly and importantly for my business are deadlines for financing to purchase your new home. When you are prepared you can deal with deadlines much easier. However sometimes things are outside […]
Trusted Advisor
To me it hasn’t seemed that long ago when if you had car trouble someone always had a guy who could fix it at his place. It didn’t matter if it was as simple as brakes or a complicated as major motor work, it was all possible in someone’s back yard. Now vehicles are so […]
Request Declined
Sometimes it happens that your mortgage request has been declined. More often than not this is an opportunity to restructure the request and start again. See if any debts can be repaid, have you included all the assets and properly explained the sources of income and all your debts? Can you increase you down payment […]
The best time
The best time to buy a house according to the old adage is always now. In this hot real estate market and thanks to rock bottom interest rates, you will be paying down principal much faster than you are paying in interest. For example if you bought a house for 550K with 30K down on […]
Appraisals
Usually when you pay for something you own it. The exception to this rule is for real estate appraisals. When and if they are required, they requested and owned by the lender. On the odd chance that we your broker have a copy, just remember that we can not release it to you. Appraisal are […]
New Clients
The best kind of new clients to get come from referrals. This could be from past clients or referral partners like realtors or financial planners. This is because they come pre screened from a trusted source so they are people who really know what they want and have already been told who you are and […]
Extra Payments
If you are one of the lucky few who’s mortgage is coming up for renewal in the next few months, this post is for you. Let’s say for example that you will have a mortgage balance of 300K at renewal and that you have been at 2.79% for the past 5 years on a 25 […]
Future Homeowner
Any goal worth achieving will take some planning to make happen. Take our hot real estate market for example. If you plan on buying a home in the not too distant future then you need to start to work on a few things to make that happen. We are going to look at the two […]
Exceptions
Rules in life and in mortgages are made to be broken, on an exception basis. Lenders look at your mortgage application and judge it based on the 5C’s of credit ( Character, Capacity, Credit, Collateral and Capital). Having a strong strength in 4 out of the 5 would be grounds to request an exception. Note […]
Broker’s hours vs banker’s hours
Simply put, unless I am sleeping, eating or doing a workout I will take your call or return your text. Try getting that same level of service from your bank or even your bank mortgage specialist who have extended hours on occasion. However even-though I may take your call, if my corresponding lender is not […]
Opporunity Cost
Not all financing is created equal. There are low rates for AAA credit clients, moderate rates for alternative lending and higher rates for private mortgages. I have done a lot of private lending over the years and at the end of the day it is never about the rate it is about the opportunity cost. […]
5 to 10 basis points
This amounts to .5 to .10 of a percentage point as a basis point is essentially 1/100th of a percentage point. I bring this up as consumers will shop their mortgage business and leave an existing relationship at the last minute for perceived deal of 5 one hundreds of a percent. So here is some […]
August Market Update
As I have been a mortgage broker for just almost 20 years, I have seen a lot of interesting real estate markets. However this year really takes the cake. February, March & April anything with a roof sold as soon as it hit the market and in most cases with multiple offers and in many […]
Approved or qualified
There is a vast difference between getting pre-approved for a mortgage and getting pre-qualified. One holds your rate for up to 120 days and allows you to go house hunting and the other just gives you rough idea of what you can afford. Yes getting a pre-approval will take some time but it is worth […]
90 Days History
When applying for a mortgage it is necessary to provide 90 days history of your down payment. This is to prove that you did not borrow it or it was not obtained through illicit activity. Often clients have more than one bank account as a source for their down payment. This will require that we […]
Deadline Anxiety
We all have deadlines in life from when to file and pay your taxes to due dates of new arrivals to your family and lastly and importantly for my business are deadlines for financing to purchase your new home. When you are prepared you can deal with deadlines much easier. However sometimes things are outside […]