A client recently approached the team at Red Deer Whalen Mortgages seeking help. “They were our last chance at buying the home we loved”. The big banks had already told her no, she didn’t qualify for that home she had her eye on. She came to us in the hope that we could say yes to her dream of buying a new home.
The big banks had turned her down because she had lots of debt. They patted her on the head and said come back when you have the money. She had 10% to put down on the home, we used 5% for the down payment and the other 5% was used to payout debt allowing her to qualify for the home she loved.
Each big bank only a few mortgage products on their roster; if you don’t qualify for any of them, they turn you down. Red Deer Whalen Mortgages works with around forty lenders, each of which has five or six mortgage products. This is why we can find a suitable affordable mortgage product for almost any client. And we were able to help this client. We found a lender who accepted her 5% down payment via a gift from her parents. They accepted her child support and family allowance as income, allowing her to meet the debt to income ratio. You should work with a Red Deer mortgage broker like Whalen Mortgages instead of the big banks for several reasons. All we do is mortgages. We aren’t pushing you to sign up for a savings account or car loan. We don’t run through a short checklist and tell you no if you don’t meet rather strict criteria. All we do is connect those in need of a new mortgage with the best possible deal.
We don’t just help Red Deer home buyers get approved we also find the best rates on their mortgage renewals. Call us before your home mortgage comes up for renewal so we can find you a better deal. Talk to us before you pay a major penalty to refinance your mortgage or break the mortgage when you sell your home. Let Red Deer Whalen Mortgages explore your options when you need to tap into your home equity. We’re here to help if you want to consolidate your debt into a second mortgage or roll it into your primary mortgage. We can help you buy land on which to build your dream home or buy that investment property, too.
Call us today at 587-315-3525.