The postings on this site are my own and do not necessarily represent the positions, strategies or opinions of Tribe Financial Group

MORTGAGE PRE-APPROVAL - Get Pre-Approved in 15 Minutes

Posted by Sean Stewart on 8 March 2021
MORTGAGE PRE-APPROVAL - Get Pre-Approved in 15 Minutes
Are you looking to purchase a property and want to know how much of a mortgage you qualify for? Knowing your purchasing power allows you to buy with confidence. There is a lot of information that goes into mortgage qualification and it takes an experienced expert to provide you with accurate advice. With our proprietary system we can give you an accurate maximum mortgage pre-qualification approval in just 15 minutes. A simple call allows me to ask you pre-qualification questions about incom...
Posted in:Mortgage Products  

FIRST TIME HOME BUYER - How to Qualify for More Mortgage

Posted by Sean Stewart on 22 February 2021
FIRST TIME HOME BUYER - How to Qualify for More Mortgage
   First Time Home Buyers typically want to maximize their buying power and are looking to purchase the best home that they can afford. At the core of mortgage qualification is a mathematical formula. Essentially your total debt payments divided by your gross income. If you find yourself not qualifying for the mortgage you want then you might be carrying too much other debt (ie: car loans, credit cards, student loans, etc.) which is limiting your mortgage amount. Keep in mind th...
Posted in:First Time Home Buyer  

BROKER FEE - What is a Reasonable Fee?

Posted by Sean Stewart on 8 February 2021
BROKER FEE - What is a Reasonable Fee?
Mortgage brokers typically get paid a commission from the lender and do not need to charge a broker fee for their services. Though, private lenders do not pay commissions and hence brokers do need to charge a fee for their service. There are no strict rules for what brokers can charge for their service. So, it is up to the individual broker on what they want to charge. However, there are some generally accepted industry fee guidelines that have evolved.

Here is what I see as reasonable...
Posted in:Key Tips  

MORTGAGE - How Long Does It Take To Get A Mortgage

Posted by Sean Stewart on 25 January 2021
MORTGAGE - How Long Does It Take To Get A Mortgage
A good rule of thumb is to allow three to four weeks for the entire mortgage process (including appraisal and lawyer). If you think that you have a more challenging case, please allow more time. It is never too early to start the mortgage conversation. As a rough guideline, the mortgage broker and lender need a week or so to get the approval, straight forward files can take less time and more complicated files can take longer. The appraiser needs about a week to do the site visit and to c...
Posted in:Key Tips  

REFINANCE - What Can I Use the Money For?

Posted by Sean Stewart on 11 January 2021
REFINANCE - What Can I Use the Money For?
Canadian mortgage interest rates are currently at an all-time low. For most people, mortgage financing is the cheapest form of financing that you can get. So, it makes sense to take out some of that home equity and pay off other higher interest rate loans.
You can use the money to pay out almost any other type of structured loan. Common debt payouts include: Credit cards Lines of Credits Private mortgages Personal loans Car Loans Student loans You can also us...
Posted in:Key Tips  

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