total mortgage and leasing immigration seminar

TOTAL MORTGAGE AND LEASINGTOTAL MORTGAGE AND LEASING

Immigration Seminar

www.mypowermortgage.com


• Ways To Get a Mortgage

• Why Choose a Mortgage Broker?

Outline

• Mortgage Basics

• Role of a Mortgage Broker

• Kinds of Mortgages

• The Mortgage Process


• Who is Dominion Lending Centres?


Who Are We?

Dominion Lending Centres is a national mortgage brokerage and leasing company with more than 2,000 mortgage professionals offering free expert advice across Canada - taking the hassles out of the mortgage process and simplifying your life. I own a Dominion Lending Centre franchise called DLC Total Mortgage and Leasing and you can view my website at wwww.mypowermortgage.com

With access to more than 90 lending institutions, including big banks, credit unions and trust companies, I am familiar with which lenders will be interested in applicants that are new to Canada who are either Landed Residents or in Canada on work permits or off-shore investors.

TOTAL MORTGAGE AND LEASING



From your bank or from a licensed Mortgage Broker.

Two Ways To Get a Mortgage Two Ways To Get a Mortgage

The problem with going to a bank:

Banks can only offer products from their financial institution.

Why Choose a Mortgage Broker?Why Choose a Mortgage Broker?



I am independent – I work for you, not the bank!

I have access to Canada’s largest banks, Credit Unions, Trust Companies and Financial Institutions.

You have access to hundreds of products offering you much more choice.

MY SERVICES ARE FREE!

I offer a structured approach to your mortgage needs which can begin before you arrive in Canada thus removing much stress.

My Role as a Mortgage BrokerMy Role as a Mortgage Broker

Save you time, money and effort.



To provide exceptional customer service.

Walk you through the entire mortgage process and educate you with regards to your mortgage options so that you can become comfortable with the mortgage process and equip you to make informed mortgage decisions.

Tailor your mortgage to suit your unique financial needs.

Lending Categories for “New To Canada” ApplicantsLending Categories for “New To Canada” Applicants



2. Work Permits/Provincial Nominee Program

1. Landed Residents

A. With employment

B. Without employment

3. Offshore Investor




1. Landed Residents

A. With employment

• Employment letter on company letterhead• Start date• Position held• Gross annual income

• Recent paystub• Previous job reference letter confirming tenure and position• Bank status report confirming account tenure in good standing• UK credit bureau (good to have)• Source of down payment• Maximum LTV = 95% upon qualification




1. Landed Residents

B. Without employment

• Previous job reference letter confirming tenure and position• Bank status report confirming account tenure in good standing• UK credit bureau (good to have)• Source of down payment• Max LTV = 65%• Lender may ask for 6 – 12 months hypothecated funds for

principal and interest payments




2. Work Permits / Provincial Nominee Program

• Same requirements as those who are Landed Residents with employment

• Max LTV = 90%• Copy of work permits




3. Offshore Investor

• Max LTV = 65%• Full disclosure of income, assets and liabilities in UK• Rates are at a premium• Bank status report confirming account tenure in good standing• UK credit bureau (good to have)

The Mortgage ProcessThe Mortgage Process



1. Mortgage Pre-approval

2. Mortgage Approval

3. Product Selection

Mortgage BasicsMortgage Basics



Source of down payment

Short term debts

Income

Credit score

Two Kinds of MortgagesTwo Kinds of Mortgages



Conventional

Down payment is at least 20% of the purchase price.

No mortgage default insurance.

High Ratio

Down payment is less than 20% of the purchase price.

Mortgage must be insured against default.

Minimum 5% down payment.



Useful WebsitesUseful Websites

Canadian Mortgage and Housing Corporation (CMHC)cmhc.ca

Genworthgenworth.ca

Take Home MessagesTake Home Messages



Complete an online application at www.mypowermortgage.com/keith

Let me help guide you through each step of the mortgage process!

Get pre-approved before you start house-hunting!• You learn what purchase price you qualify for• Rate hold in place for up to 120 days• Take your time, do things at your own pace• Arm yourself with the knowledge to make informed financial decisions that you feel comfortable with

http://www.mypowermortgage.com/keith

For more information please visit my website

www.mypowermortgage.com/keith

604.723.5363

[email protected]

Dominion Lending Centres Total Mortgage and LeasingOffice Address, City, Province, Postal Code

Dominion Lending Centres Total Mortgage and LeasingOffice Address, City, Province, Postal Codewww.mypowermortgage.com

Thank YouThank You

Questions?Questions?


total mortgage and leasing immigration seminar

Documents

mortgage processtotal

mortgage needs

mortgage professionals

mortgage brokersave

leasingtotal mortgage

mortgage options

dlc total mortgage

licensed mortgage broker