News from Canada's Mortgage Experts

With interest rates at historic lows clients are once again finding themselves in bidding wars in hopes to land their dream home. A long time client of mine referred one of his colleagues to me last week. In speaking to her I learned that she and her husband had lost a bidding war a few days earlier because their offer was conditional upon financing. These clients were very eager not to lose out on another home. While we never encourage anyone to go in "firm" on any offer these clients were looking for some type of edge. As you will hear in this video, one way to gain the edge is to have all of your paper work in order ahead of time. In today's market lenders are far more adamant when it comes to ensuring that all documentation (confirmation of employment, pay stubs, Notice of Assessment, confirmation of down payment, lawyer's information, etc.) has been submitted before financing is approved.