Bank Said No? We Say YES! (If you live in Vancouver, Victoria, or anywhere in BC)...
So you got turned down by a bank. If you have some credit issues, it doesn’t mean that you are unable to obtain the financing that you need. That’s where a mortgage broker can help.
If you don’t fit the usual lending criteria, are self-employed, are a small business owner or even have bad credit, a mortgage broker has access to alternative financing options. We have sourced out lenders offering competitive rates and packages and these lenders will compete to meet your financing needs.
Because you only have to complete one application, your credit rating will be protected. This is especially important if your credit score is already low. Every time your credit rating is checked, your score drops so it is important that you don’t shop around for financing, let me do it for you.
I will meet with you at a time that is convenient for you. You don’t always need an appointment and I will work around your schedule. Mortgage brokers don’t keep 9 – 5 hours like conventional lenders do.
Mortgage brokers have a better understanding of the financial market and the lending products that are available. Because we are independent of large banks or lending institutions, we are committed to helping you. I work for your best interests, not the lender’s.
At our appointment, I will take a close look at your financial history and current situation. Then after a careful assessment, I will determine what the best lending options are for you and discuss with you the interest rates, repayment terms and length of mortgages available.
Once you are comfortable with the options available, you will complete the borrowing application which I will present in the best way to several lenders at the same time.
Brokers are in contact with boutique lenders that don’t advertise and just deal with mortgage professionals. Our lenders don’t have a “one size fit’s all” philosophy, it’s more of a “custom fit for each situation” approach.
Because no two lending situations are alike, specialty lenders know how to look at your annual income if you are self-employed and know how your gross income can be reduced by your tax write-offs.
We have lenders who are willing to work with you even if you have bad credit by considering the whole picture, not just your credit history. If your application appears to be solid and you have secure equity, we can find the right lender for you. If you do need a bit of time to clean up your credit, we will tell you the best way to do that.
Be aware, though that in certain situations, the interest rate for some mortgages will be higher than the average but financing will still be available. When your credit score improves by paying the higher rate mortgage, you may then be in a position to refinance at a lower rate.
Unlike the loans office at the bank I don’t get paid unless you get the financing. In many cases, the lender pays my fees. I can typically give you an initial “thumbs up or down” the same day.
Don’t be intimidated by the big banks and don’t be embarrassed if you have been turned down. Mortgage brokers will have solutions to your credit problems.
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The bottom line is - I'm in YOUR corner, and I can set you up with the best possible mortgage (or otherwise solution) for your needs, period. Even if your situation is "challenging" - you'd be amazed at what's possible with a little creativity...
You can email me here, call me at 1-877-686-4246, or submit a Quick-Quote request HERE...
We'll talk soon!
Sincerely,
Kam Brar
BCMortgageHelp.com