Wednesday, 10 June 2015

Do I Qualify For a Mortgage?

To answer this question I need to get to know you, a lot better.

It’s my job to get to know all aspects of your financial situation, your long-term/short-term goals, and how these details fit into your life and lifestyle. By getting to know these things, I can start to formulate a detailed mortgage plan that is custom-tailored to you. This is something that makes my services unique, and allows me to recommend solutions that might otherwise be overlooked by larger financial institutions(i.e. the bank).

Where do we start?


Our first step should be to sit down and talk about you and your needs, either over the phone or in person. From there I can build a profile that will let us take a holistic look at where your mortgage(s) fit in to your life and financial plans. Your plans could be as simple as purchasing/refinancing a home, investing in an income property, or even as intricate as commercial lending, but the foundation is the same:  “I need to get to know you better.”

Before your appointment with me you should try have some basic information ready regarding your income, how you are paid(hourly, salary, commission, etc.), any existing monthly payments, and any assets(things you own) or debts(loans, credit cards, student debt, etc.) you are responsible for. All these things affect your potential mortgage amount and we will combine them all into a complete picture of you as a borrower.

Building your unique profile


As we go through the process, I will enter your information into our cutting-edge computer system which allows me to track and analyze everything we’ve discussed and to recommend the lender that best suits your needs. Once the lender has reviewed your file, they will usually come back with a pre-qualification. This is an indication that based on the information we submitted, you will likely qualify for the mortgage amount we’ve requested.

What is it that you want to purchase?


We will also spend some time discussing the property you would like to purchase(assuming you are  still searching), or the property(ies) you currently own. It is important that we consider the location, the services and amenities, and the overall condition of the property. I can then add all the relevant information to your profile, which leads us to helping choose the best lender for you. Sometimes this involves having an appraisal of the property, but again I’m here to help and will get this process going for you.


If you would like to get the most up-to-date information in Kamloops, BC on your Home Purchase, Mortgage Refinance, or Mortgage Renewal, please 'Like' our Facebook page and follow me on Twitter and Pinterest. Also visit my website www.ryanWsmith.ca to Apply Now for your mortgage!


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