The postings on this site are my own and do not necessarily represent the positions, strategies or opinions of Ashburn Mortgages - Paragon

Liquid Asset Qualification

Posted by Sean Stewart on 17 February 2022
Liquid Asset Qualification
   No need to liquidate your assets for more of a down payment, instead you can use your invested assets to qualify for more of a mortgage. This mortgage program allows you to use net liquid assets to help qualify for the mortgage you need. If your income is not enough to qualify you for the mortgage you want, then a liquid asset qualification might work for you. It is designed to qualify for mortgage amounts above standard qualification. Case Study:    A borrower was s...
Posted in:Mortgage Products  

Private Mortgage - Effective Uses

Posted by Sean Stewart on 10 November 2021
Private Mortgage - Effective Uses
Private mortgages have exploded in Canada over the last few years. There are so many different lenders now in the marketplace offering private mortgage money. Many private lenders have a niche and cater to specific borrower types. There is a private lender for almost any situation. There are many different reasons why people look to private lending as a mortgage solution. Real estate investors often use private money to purchase residential and commercial real estate to build their portfolio...
Posted in:Key Tips  

The Investor Mortgage

Posted by Sean Stewart on 1 November 2021
The Investor Mortgage
Investing in real estate requires a different mindset, the investor mindset. It is about positive cashflow and purchasing the property at a good price; Meaning not over valued for the income generated. Investors analyze the Net Operating Income (NOI) for the property. Purchase price should be evaluated on the current net operating income and not the potential NOI. Cap rate is a great formula to help evaluate potential income properties. In Ontario a good cap rate is between 4% to 12%, depend...
Posted in:Mortgage Products  

The Self-Employed Mortgage

Posted by Sean Stewart on 26 October 2021
The Self-Employed Mortgage
       There are many mortgage options designed specifically for the self-employed. Some lenders cater specifically to the self-employed to help them get the financing they need. There are many products that lender have which help the self-employed qualify for the mortgage they need, including: Gross up net income Add back of non-cash expense items Use a portion of corporate net income Stated income Cash flow analysis Property equity program Total Net Worth p...
Posted in:Mortgage Products  

MORTGAGE - Do I Need an Income to get a Mortgage

Posted by Sean Stewart on 26 July 2021
MORTGAGE - Do I Need an Income to get a Mortgage
Yes, you need some type of income to get a mortgage. The calculation for debt servicing is your total debt payments divided by your gross income. Without an income this formula does not work, and you cannot qualify for a mortgage.

Employment income is the most common and you can use the gross annual amount. Other types of income include rental income, investment income (dividends and interest), alimony, pensions, child support and other types of income. There are many restrictions on how muc...
Posted in:Key Tips  
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