What do banks look for? Mortgage Milton

Mortgage Agent #M10001503Brokerage #12358

Warwick JohnstonMortgage Broker

Financial Services - Banking, Stock Broking, Financial Planning

Clothing Production - Factory Management (Jockey)

Marketing Automation - Start up to Acquisition

Licensed with FSCO - Financial Services Board of Ontario

Member of Independent Mortgage Brokers Asso

Licensed Agent under Mortgage Edge BrokerageGoverned by the MBLAA – Mortgage Brokerages, Lenders

and Administration Act

Brief Bio

Call Direct: 647-274-6029www.MortgageSource.biz

Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503

http://www.MortgageSource.biz/

The 5 C’s of Credit:• Credit• Capacity• Capital• Collateral• Character

What Do Mortgage Lenders Look For?




Capacity


Can you afford your mortgage:• Income Type• Employment Status• Covenants• GDS / TDS




Capital

Mortgage Down Payment:• Source

- Equity- Cash- Gifts



Collateral

Bank Mortgage Security:• Property Type• Location• Age• Purpose• Owner Occupied / Rental




Character

What makes you a goodMortgage Risk for the bank:• The Story• More than numbers• Who are you




CreditBeacon Score

B LendersExpensive Money

A LendersCheaper Money




Credit - Credit Report


Poor





Good

Bad



Client Situation• Beacon 489• $79,000 in arrear debts (Credit) ✗• Self Employed – little income, no web presence• Separating from Wife• $1,750 in Child Support (Capacity) ?• Selling existing Home (Capital) ✓• Buying a New Home (Collateral) ?• Not a good story (Character) ✗




Client Solution• Debt Negotiation saved $30,000

- avoided Consumer Proposal or Bankruptcy- Cleared all debt saving $884 pm

• New Mortgage with B Lender- 80% LTV

- 1 year rate at 5.99%

Call Direct: 647-274-6029www.MortgageSource.biz Mortgages Originated as a Licensed Agent of Mortgage Allies #12358. License #10001503



We do the WORK!Contracts with over 28 LendersWe find the mortgage that is right for you.

Mortgage Broker



Let The Numbers Do the Talking

For a Free Mortgage Analysis simply call 647-274-6029

[email protected]

Warwick JohnstonYour “Mortgage Source”


mailto:[email protected]

http://www.mortgagesource.biz/

What do banks look for? Mortgage Milton

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