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Thank you for taking a few moments to read my bio. My name is Troy Locke and I wanted to introduce myself and tell you how I may be able to save you time and interest with your mortgage. I was born and raised on the east coast , Cape Breton, even though people say I sound like a Newfoundlander. I transferred to Ottawa 16 years ago and I have 25 yrs mortgage consulting experience. With my experience and wealth of knowledge in the mortgage industry as well as personal finances, I will be able to answer all of your questions.
What is a mortgage broker and how can it benefit you? Well, I will shop your mortgage to over 40 different lenders (First National, Scotiabank, , TD/Canada Trust, Ing etc.) who want to compete for your business. This will help us obtain the lowest rates and best mortgage products to fit your needs. Whether you want to refinance your home for renovations, build a new home, a new purchase or even dreaming of that new cottage, we’ll have the right product for you!
Approvals are very prompt, usually within 24 to 48 hours and my services are free. I can meet you at your home or office, 7 days a week. With my laptop in hand we can go over different mortgage options from the comfort of your home.
Saving money on your mortgage is not just a matter of getting the most competitive rate. There are different types of mortgages… open, closed, fixed rates, variable rates, short term, long term, discounts, cash backs and each with different penalty calculations etc. Making sense of it all can be a daunting task and you may need someone who will take the time to ensure that you have the necessary information to make an informed decision.
I have extensive experience in commercial lending and a lot of knowledge to help approve those "out of the box" tougher deals. I help many local mortgage brokers and bankers place their commercial and alternative deals.
Call or email for quick online pre-approval and rate quote, you won't reget it. Just hit the "apply with Troy" button in the upper righthand corner and I will get back to you within a couple of hours. Great service and rates with a friendly laid back "east coast" style you'll appreciate during this daunting time. This can all be done over the web and email to save you time.
- purchasing your first or next home, or considering a vacation property;
- new to Canada;
- investing in property; rentals
- considering a large renovation project;
- refinancing to boost monthly cash flow and save on interest costs;
- looking at options for your mortgage renewal; or,
- interested in repairing your credit so you can qualify for mortgage financing.
- commercial or multi-units
7 reasons to use a Mortgage Broker over your BankCheck it out
If you’re a homeowner over the age of 55 and want to tap into your home equity, a reverse mortgage can be the right solution for you. A reverse mortgage is also known as an “equity release”. With a reverse mortgage, you can access up to 55% of the equity in your home tax-free as a lump sum or monthly cash deposits. The maximum amount you are able to borrow will depend on your age, your home’s appraised value, and our lender. No mortgage payments are required and you maintain ownership of your home. Repayment of the loan and interest is only required once you move or sell the home. At the end of your loan term, you may have less equity in your home. If you don’t make any payments, which is fine, you may have a larger interest payment to make when the home is sold.
A lender will often ask you to consult a lawyer prior to giving you a reverse mortgage to ensure you understand the conditions of the mortgage. The lender can never force you to sell your home to repay the reverse mortgage. It is also important to note that all existing loans on the property, including a mortgage or a home equity line of credit must be paid off prior to getting the mortgage.
Whether you’re looking for a financial cushion to live comfortably, funds to cover monthly expenses, pay off debt, renovate or fund your children’s education, you can use the funds from a reverse mortgage in any way you want without restrictions! What’s more, is if the home goes up in value, it doesn’t affect the reverse mortgage, meaning that all equity gained is yours! Lastly, you can get out of a reverse mortgage at any time by paying off the loan and any interest accrued.
Have a discussion with your mortgage professional to find out if a reverse mortgage is the right solution for you.
Commercial Mortgages fall into their own class of financial products. As a result of this you will need to work with a broker who specializes specifically in commercial mortgages. They are different because there is no standard methodology that all lenders use to underwrite them so they require a lot more expertise to successfully put together.
Lenders typically underwrite each commercial mortgage transaction according to the merits of the proposal and the financial strength of the borrower. Once the lender is satisfied with the risk in funding the commercial mortgage or project, they will then decide on price.
Our commercial mortgage professionals arrange complex funding for client projects utilizing strong relationships across the entire commercial lending community. Our team of commercial mortgage brokers are experts when it come to commercial lending types and posses the knowledge and understanding of the niche each lender serves, loan types they prefer as well as what security, interest rates, fees and debt service coverage meet the criteria of those lenders. They will help you determine the right lender and mortgage for your investment.
We will ensure that your financial needs are matched with the right lender so you can get the highest possible rate of success for your investment. Commercial lending is very different from residential mortgages and are subject to a strict set of criteria. The participants in this market are chartered banks, credit unions, life insurance companies, mortgage investment companies, and non-institutional companies. Each have a unique portfolio structure, pricing matrix, and appetite for specific loan types and industries. It's important to seek the advice of a mortgage broker to ensure that your requirements are satisfied, and you get the mortgage that helps you reach your short term and long terms investment objectives. Contact us to get started and take your first step into making your project a reality.
With the ever-changing market and a stricter stress test, many Canadians are finding it harder to qualify for a mortgage through traditional financial institutions “A-Lenders” and are turning to alternative lending solutions for their mortgage. At Invis we work with many alternative lenders, who can offer excellent mortgage options with more flexible criteria and more lenient qualification requirements.
Alternative lenders are great for individuals who have non-traditional forms of income for example, capital gains, room rental income, child tax benefits and others or for self employed applicants who may not have the minimum required number of years being self employed.
These lending solutions are also a good option for those with lower credit scores. While the rate they offer is slightly higher than what you will see posted by an A-Lender, they are nothing out of the ordinary when compared to traditional rates posted in Canada. They also generally have shorter terms, meaning that you can get into the home of your dreams while being able to rebuild your credit at the same time.
Buyers who don’t qualify under the mortgage stress test can also take advantage of the expanded debt service ratios allowed by alternative lenders to qualify for a mortgage and get into the home of their dreams. If you have a very unique situation, we also have access to various private lenders who are even more flexible and lenient in requirements and may be able to offer you mortgage options that fit your situation. In today’s environment, we’re seeing more private lenders helping Canadians with their mortgages.
Call your Invis professional to find out about the different options available to you. They are experts when it comes to mortgage products and different solutions and will provide you with unbiased advice. They work for you, not the lender.
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As of September 23, 2023
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* Insured mortgage rates, subject to change. Conventional and refinance rates may be higher. OAC. E&OE