Our goal is to exceed your expectations. We want to be your only source for a mortgage in Canada.

Purchase

If you are looking to buy or sell make sure you call  The SunCoast Team™ for all of your financial needs.

Mortgage financing has become very complex with constantly changing rates, terms and challenging conditions.  Choosing the mortgage best suited to your circumstances has never been more difficult.  Banks, trust and insurance companies are continually inventing new mortgage products to capture your attention, and hopefully your business.  In addition, ensuring that you get the best possible rate and product depends on aggressively shopping the mortgage marketplace.  Often a mortgage lender’s posted rate may not be the best rate available.  You may be able to qualify for a lower rate, but not know it.

To maximize the benefits to you, you may want to consider enlisting the services of a  Mortgage Intelligence agent.  We negotiate with major financial institutions, chartered banks, trust and insurance companies, Canada Mortgage and Housing Corporation, Genworth and others to bring our clients the most competitive mortgage rates and terms.  Mortgage Intelligence will usually earn a commission or fee from the lender* for all the work, advertising and promotion done on their behalf.  Our professional services are provided, in most cases, at no cost to you.  We are constantly updated on rate changes and new products being introduced in the market.  As our client, you can choose from the widest range of options, obtain the most competitive rate and best product suited to your specific needs.  An extensive network of financial institutions has enabled many of our clients to obtain savings of up to 1.40% below posted lender rates.

What lenders look for: Good credit improves your mortgage negotiations

Contrary to what you may think, you don’t manage your credit applications and payments in a vacuum. Your credit behaviour (as some have learned the hard way) is tracked by credit bureaus such as Equifax Canada and TransUnion of Canada. This information is tabulated, and then you are assigned a credit rating. It’s important for you to maintain as high a rating as possible. The following information shows you how you can be sure to earn a good score, and why it’s so important to do so.

Lenders have access to this information. Think about it. When you decide to apply for a mortgage for a home purchase, or a hefty loan for home renovation – don’t you want A+ right up there beside your good name?

Your good name is really what’s it’s all about. In the financial world, your credit profile is your reputation. If you have a good record, it means smooth sailing ahead for you. If your record isn’t all it should be, you might be in for a bit of rough weather when it comes to acquiring the monies you need -- at the interest rates you want.

Your payment history -- especially of credit card debt -- is one of the most important factors considered when your score is being tabulated. Any missed, late, or neglected payments are duly noted. Not only does a prompt payment history buff your credit image -- it saves you money in interest, and assures a quicker retiring of that debt too.

Timeliness of payments, actual amount of payments, the state of your credit card balances versus credit available, the number of cards you own, the frequency of your requests for more credit – these are just some of the tidbits of personal financial information that make up your credit profile. This comprehensive history is compiled to show lenders how reliable a debt risk you are. To put it simply – they want to know whether or not you are credit worthy.

Your credit score is established with a mathematical formula. Various factors are weighed and balanced and given a certain percentage value towards your final score. Credit bureaus also take into consideration -- in addition to factors already mentioned -- your existing debt burden, your actual and potential income (remember you do give out these details when you apply for credit), your debt to income ratio, your past financial problems (any bankruptcy or foreclosure remains a long time on record), your job stability – essentially any piece of public information that helps build an accurate as possible risk assessment of you as debtor.

Your credit rating is a fluid and an ever-changing thing, dependent upon your present financial circumstances and any actions you make. The credit bureaus always follow your money trail. Because the formation of your profile is an on going thing, it’s vital for you to consistently practice reliable and responsible debt handling. The good news? The ever-changing quality of your credit rating allows you to continually aim for a higher score. Think of your rating -- not as a burden -- but as a challenge and an opportunity.

Infrequent requests for additional credit? That’s a really good sign to a lender. Keep in mind that mortgage and loan shopping won’t impact you negatively if it’s done in a concentrated time period. The credit bureaus interpret this flurry of activity positively -- as long as it doesn’t occur too frequently. You want to look savvy, not desperate.

How much plastic is too much? Too many credit cards red flag you to potential lenders. Limit your cards to three or four, and try to maintain long-time use of at least one card. This is a key way to build up an excellent credit history. The amount of credit you use, versus credit available, is really telling too. Keep your balances low.

It’s your right to pull up your credit report profile and it’s in your interest to do so. (You can do this online at www.equifax.com). Experts advise you to check it out at least once a year. Doing so gives you the opportunity to correct any errors or misinformation that may be there. Practice reliable and responsible debt management. Then, when you do actually need money for a major undertaking (like the purchase of a home), your credit rating will be an asset, not a liability.

Before you make what is likely to be the biggest financial decision of your life, call us at 866-544-4001 or email Justin Christie or Keith Walper

To request a free copy of the Home Buyers Guide please complete the form below

For more information or a free consultation - Please contact Justin Christie or Keith Walper at 519-238-HOME(4663) or toll free at 1-866-544-4001.

* Subject to certain guidelines

Home | About Us | Glossary | Apply Now | Contact Us | Mortgage Info | FAQ | Exclusive Products | Privacy Statement | Legal Statement

® Registered trademark of Mortgage Intelligence Inc. © Copyright 2009, Mortgage Intelligence Inc. All rights reserved.

HO Address:  5770 Hurontario Street, Suite 600, Mississauga, Ontario, L5R 3G5

Mortgage Intelligence FSCO licence # 10428 | Justin Christie FSCO licence # M08001295  |  Keith Walper FSCO licence # M08001748