I promote and protect the best interests of my clients. Essential facts about the mortgage.
I also, disclose any direct or indirect financial benefits I receive when I refer you to a specialist.

Some important information regarding the mortgages

• I encourage you to speak to at least three mortgage specialists to learn more and obtain expert advice.
• A preapproval is not a guarantee of financing!
• Mortgages with down payments of less than 20% of the sale price require mortgage insurance.
• There are more expenses after submitting the offer and at the time of closing. Always work with a buffer.
• A common thumb of the rule is that mortgage debt cannot be more than four times your annual income. So, if you make $50,000 for example, you could borrow $200,000 from a bank. Four times 50,000 equals 200,000. You will need two years of tax returns, plus two recent pay stubs from your employer to demonstrate your income. You also must have a good history of paying back the money you borrow. In other words, you need a good credit score. Credit scores help the bank to judge how risky you are as a borrower and whether they should give you that loan. Your credit score is important because it is key to getting a loan for a house. Probably the most important role that banks play in most people's lives is providing home loans.

Kinds of mortgages:

- Conventional or high-ratio mortgages
- Open or closed mortgages
- Fixed, variable or convertible rate mortgages

Special mortgage features:

- Cashback
- Loyalty programs
- Assumable mortgages
- Portable mortgages
- Expandable mortgages
- Step mortgages