Financial character

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Character

Financial character

Financial character is the mental and moral group of qualities presented by an individual in regards to his/her behaviors when it comes to his/her financial agreements.

Your credit score may not be good enough to qualify for a mortgage!
Your high income may not be sufficient to qualify for a mortgage!

Have you suffer disappointments or being declined for a mortgage even when your credit score is higher than others?

Do yo have a high income, yet have being declined for a mortgage or are currently paying high interest rates?

Learning how financial character affects your ability to qualify or to obtain better mortgage rates means a great deal of money in your pockets.

Understanding that money is not everything should very important to you as it is to the financial institutions or lenders that you will seek a loan from.

Your credit score may not be good enough to qualify for a mortgage!

It is in the way your earn money and the way you use it that you create behaviors and may tell of what you give priority when you spend, how respectful and committed you can be to a promise made when requesting a loan, and what capacity you have to continue repaying a long term debt that you are asking for.

To some people making money is very easy at a time, but spending more than what they make maybe easier, to them going into credit card’s debt may be not important because they can pay the money back (at first) but without a conscience, of repaying with respect to the institution that lent them the money and the integrity to recognize that the lending and repaying transactions are a mutual commitment, the behavior patterns of those people most likely will lead to a higher un-affordable debt.

Some people pay on time and what is agreed their mortgages, but fail to do the same with their telephone or utility bills or car loan or others, this deteriorates the character of the borrower.

Paying responsibly, with consistency, on time and agreed amount (that is not yours, yo borrowed it) with consistency to all who you have celebrated a financial agreement with, will help you build a pattern of good character, one that respects financial institutions and that is always observed by the lenders when requesting a mortgage loan.

Your high income may not be sufficient to qualify for a mortgage!

Some people may have a high income, yet they may have previous commitments to car and student loans, credit cards, other monthly commitments and may not see in time that their debt ratios are getting out of hand as what they make or more is already committed.

The above example is common and may be as a result of poor management of their income.

Some people may be earning enough money to afford mortgage payments but may not be able to document all their income, this represents a higher risk for the lender. Different lenders have different appetite for risk and therefore some people may be able to support their income in different ways and qualify for a mortgage loan, but the borrower needs to understand that a higher risk means a higher interest rate in their mortgage loan.

There are also people earning good money but not capable to save for the down payment on their own, and have no assets, so where does the money go?

May I help you with your mortgage?

All this examples and a thousand more that you may be familiar with, are considered as factors that build a financial character in a person by his/her own, and are always considered by the lenders when underwriting before they decide to approve or decline a mortgage loan.

Keeping a good financial character helps you project a good image of your self when it comes to requesting a mortgage loan, it shows your respect to your agreements, to, other people, to institutions and mainly to your own commitments

With a good financial character, you could picture yourself as the client all lenders want to have in their portfolio, it gives everyone a peace of mind, you would be a promise of a long lasting relationship, it is good business for everyone, and it means to you a great deal of savings.

Get the strategy you need to achieve your financial goal of investing on real estate, take the next step, get your mortgage assessment for free

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Appraisal rebate

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Appraisal rebateAppraisal rebate is an excellent opportunity and limited time offer that can help you save after we consider the reality that there are a number of additional costs when buying a home.

This special appraisal rebate offer is valid through your mortgage agent

May I help you with your Mortgage?

For a limited time (valid only until July 31st, 2015) Equity Financial Trust is passing on to borrowers with bruised credit unique savings, this $300.00 appraisal rebate are valid on new deals on purchases and refinances in the following:

Lending Areas:

Urban & suburban marketable properties in Greater Toronto, Golden Horseshoe, Greater Ottawa, Kingston, Belleville, London, Kitchener, Cambridge, Waterloo and Guelph areas

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Mortgage Agent

Mortgage AgentMortgage broker Toronto offers quick personalized service, access to lenders offering their lowest mortgage rates through Mortgage agent Jesus del Rio

We can save you thousands of dollars on your residential mortgage, complete your online application, click on the top right banner now

From your TMortgage Broker - Mortgage Edgeoronto mortgage agent, you have quick personalized service and get your mortgage loan approved.

Don’t worry about your credit, submit your online application and let’s get it done now!

If you already own a property, request a property value & comparable sales report when you complete your online mortgage assessment

If you have questions about what type of mortgage you need, learn about the following mortgage products

MortgageSecond MortgageRefinance
Reverse mortgageHome Equity Line of CreditCommercial Mortgage

Whether you are looking for a mortgage to purchase a home, refinance your existing mortgage and your other loans or credit cards in order to pay less interest, or if you are looking for a commercial mortgage to finance your business, you can call me to help you get that financing that you seek.

Let us help you

Request your *mortgage assessment free*, apply online and get a free one on one meeting

Call or text 416-262-7139
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New To Canada Mortgage

 

New To CanadaNew to Canada Mortgage is for people who have immigrated or relocated to Canada within 60 months, offers credit record or history flexibility, lower down payment required than a conventional mortgage.

The New to Canada  mortgage is for the new immigrants that have obtained landed status and have not already owned a house It presents the opportunity to start owning a home instead of renting.

The following are some borrower qualifications for the New to Canada Mortgage:

  • High ratio secured mortgage loans with only 5% Down payment from own resources; For LTV’s less than 95%, the remainder may be gifted from an immediate family member or from a corporate subsidy. (3 years landed immigrant)
  • Or Conventional unsecured mortgage loan with 35% Down payment or more from own resources.
  • Amortization up to 30 years in Conventional & 25 years insured mortgages
  • No 3rd party/Guarantors

  • Number of units, Max 2

  • Must provide valid work permit or verification of landed immigrant status

  • International Credit Report or 2 alternative sources of credit

  • Bank reference letter or 6 months bank statements
  • 3 months minimum full-time employment in Canada (borrowers being transferred under a corporate relocation program are exempt)
  • All debts held outside of the country must be included in the total debt servicing ratio (Rental income earned outside of Canada is to be excluded from the GDS/TDS calculation)
Call or text 416-262-7139
Contact meApply On Line