Should You Tell Your Mortgage Broker Everything? скачать в хорошем качестве

Should You Tell Your Mortgage Broker Everything?

http://LeahCoss.ca Hi everyone, it's Leah Coss with The Mortgage Center. I wanted to go over communicating with your broker and why it's very vital that you're not withholding information from them. They're meant to help you, so it's important that you help them so that they can get you the best mortgage option, based on your situation. Here's a prime example. I have a mortgage friend who, with rates going up right now, there's a lot of rate holds going on. If you want to know what a rate hold is, check out my other videos. Basically, the broker had gotten them about three different rate holds at different lenders, based on the situation that they thought it was, and by the time the person actually went to purchase, two of the rate holds had expired and there's only one left. Now, it was at this point during the purchase that the broker found out that the person's actually buying a rental property not owner occupied. The unfortunate thing there was that the one last rate hold they had, that lender does not do rentals. It's just their policy. They don't like them. They find them to be risky. They want to keep a very clean, clean profile or portfolio, rather. So, because of that, this person is going to have to be stuck with today's higher rates than what the rate hold was at the time. That's why it's very important that you're upfront with them now. Of course, a lot of this onus has to go onto the broker, making sure that we're asking the right questions and so forth, but I know there's definitely times when people are withholding information. Now, I want to help you to try and get the deal done. If I don't think the deal can be done, I'll let you know upfront because obviously that's using my time for something where I'm just going to be spinning my wheels later on. So, I will be upfront with you, and I will let you know the steps that you need to take in order to be approved for the mortgage, amount you're happy with. If you're going to withhold things like, for example, self employed people are definitely prime candidates for this where I'll say how much do you make, and they'll say, well, how much do I need to make? And that's not the right answer. I need to know, what were your gross revenues? The bank is going to ask for paperwork, so this isn't just a number you can hypothetically pull out of your butt. OK, we're going to be looking at past performance not going forward. So, you can't just say, Oh, this year I'm projecting 300 grand in income. OK, that's great, but what did you file the last couple of years? Oh, uh, 40 grand. OK, that's a big difference. So, you need to be upfront with me. You need to give me the right answers. If there's something you're worried about, just let me know. I'll let you know if it's a concern, and we can go from there. But if you're going to withhold things from me, I assure you once I pull credit, once I start asking the right questions, I'm going to find out anyway. And you're going to waste a lot of our time going the wrong direction. So, if you have any questions about this, if you want to be pre approved, if you want to know what your situation is as of today and how to get it so that tomorrow's a lot better for you in terms of qualifying for the mortgage you want, give me a call, give me an email. My contact info's on this page. My website, if that's not where you're at, look for me on YouTube. It's LeahCoss.ca, and I guess that's about it. Don't forget to subscribe to my videos, and that's it for now. So, Leah Coss with The Mortgage Broker. I'm a Canadian broker helping you understand your mortgage.