refer friends

Refer Friends

Refer friends, Refer family, Refer colleagues

refer a friend

Let’s cut to the chase,

WE WANT YOUR REFERRAL! There, we said it. Phewww, glad that’s off our shoulder. Refer friends, Refer family, Refer colleagues. Whether its for business or any other form of transaction, word of mouth referrals are a time tested way of getting quality leads for whatever you are doing; providing a service, selling something, or anything else that requires people to be part of your venture.

At Trusterra Mortgage,

We value referrals and appreciate it greatly when you Refer friends, Refer family, Refer colleagues, because it show’s that you put great trust and value in our company and the services we provide to the consumer. Our company is based on ethical and moral values such as honesty, integrity, truthfulness, and providing a positive customer service experience for all our clients; just to name a few. One of the nicest compliment’s we could receive would be when you Refer friends, Refer family, Refer colleagues.

Home Sweet Home,

For the majority of the consumer purchasing real estate – home sweet home – will be the largest investment they’ll ever make, and we feel it’s that much more important for them to work with credible, well mannered, and trustworthy people and company. When you Refer friends, Refer family, Refer colleagues to us we know that you’re putting your neck out on the line and vouching for us. We wouldn’t want to disappoint you or your friends. We will work with our clients from day one, and all the way to the last day when their mortgage closes, looking after them and making sure that the right mortgage solutions and decisions are made that best suit their financial reality’s and needs. Although once the mortgage closes it is out of our hands, but we still, after the closing, continue to assist all and in any way we can our clients when they have mortgage questions.

This is the Call To Action part

This is the part of the blog that we ask kindly for your trust in us and to Contact Us and Refer friends, Refer family, Refer colleagues. You won’t regret it, and we’ll humbly appreciate it and ever be thankful.

refer friends

Beginners Guide to Getting a Mortgage

Beginners Guide to Getting a Mortgage

A beginner’s guide to getting a mortgage

In this beginner’s guide to getting a mortgage we will take you through the main steps of applying for a mortgage application. This beginners guide to getting a mortgage will cover the main points that will help you better understand what is involved when getting a mortgage in Canada.

Beginners Guide to Getting a Mortgage

A beginner’s guide to getting a mortgage STEP 1 – find a mortgage professional

We strongly recommend you working with a Mortgage Broker or Agent. They are licensed with their respective Provincial Governments and have met all the required educational standards to become a licensed mortgage broker or agent.

There are many advantages to acquiring the services of a mortgage broker or agent. To name a few;

  1. They work for their client’s best interest,
  2. Mortgages are what they do day-in, day-out,
  3. Because a mortgage broker or agent is not working for any of the lenders there is no conflict of interest for them towards pushing you to one lender or the other,
  4. They constantly stay up to date with the real estate financing world by participating in continuing educational courses and workshops.

A beginner’s guide to getting a mortgage STEP 2 – ‘checks and balances’

Buying real estate is, for most people, the largest single investment they will ever make, and because of this, getting a mortgage should not be taken lightly. Every person thinking about buying their own home whether now or in the future should start planning for the inevitable. What is the inevitable you ask? It is being able to show the lender that you are able to pay them back on a timely manner as agreed upon based on your credit strength and income. And how do you show this in practicality? Lenders such as Chartered Banks, Trust Companies, and Credit Unions follow Government underwriting guidelines, and as well their own internal policy’s, all designed to test how strong or week someone’s personal financial strength is in comparison to their debt level’s to be able to pay back the mortgage loan. To do this the lenders have certain requirements and they ask for information from the borrower when considering whether to approve them for a mortgage loan or not. They want to make sure at minimum the borrower has:

  • Enough income to pay back the monthly principle and interest of the loan
  • At least 5% down payment or more; you can even use gifted money from immediate family
  • A satisfactory credit history and a healthy credit score
  • We also recommend checking your credit report and score regularly, perhaps every year or two at Equifax and Transunion. This is great preparation for when you are ready to apply for a mortgage by making sure there are no discrepancies or fraud activity in your accounts.

Beginners Guide to Getting a Mortgage

That means from now you can start putting aside money each month in your bank account for your down payment and making sure that you have a steady job or income coming in to show the lender that you can afford to pay back the loan. As well, you want to make sure that you are paying back your debt on time, and on a monthly basis, and not be late making those payments.

A beginner’s guide to getting a mortgage STEP 3 – Consult with your Mortgage Broker or Mortgage Agent

Beginners Guide to Getting a Mortgage

Now that you have done your checks and balances, you can contact your Mortgage Broker or Mortgage Agent and consult with her or him about your current financial strength and debt obligations. They will ask you to fill out their mortgage application so that they can better assess your financial health and credit worthiness/readiness to apply for a mortgage. Your mortgage professional will, after reviewing your financial and debt history, ask further questions and give you advice on what steps to take next; whether to continue with your mortgage application or to wait until other matters are taken care of to strengthen and improve your chances of getting approved for a mortgage.

 

This post and its content, we hope, has provided you with the basic information you need when considering applying for a mortgage. Don’t hesitate to Contact Us with your questions, and if you would like to start the mortgage application process. As well, we invite you to share any thoughts you may have about the mortgage application and approval process below in the comments section.

Trouble making mortgage payments

Trouble making mortgage payments

Are you having trouble making mortgage payments?  Find out from your lender what preventive measures they have set in place to help you.

This ‘Article from the Toronto Star‘ provides helpful information and insight regarding people having trouble making mortgage payments. has a good point in his article saying that “it’s the last thing you want to do when you can’t make your mortgage or loan payment but it’s a common response for many Canadians — stick your head in the sand and ignore it.” Definitely sticking your head in the sand is not the best way to deal whith having trouble making mortgage payments.

[fb_embed_post href=”https://www.facebook.com/trusterramortgage/posts/717334781659550/” width=”550″/]

You need to be open and honest to yourself and the lender that has given you the mortgage and let them know that you are having trouble making mortgage payments. This way the lender can come up with a solution to help you with making your payments. The last thing that on a lenders mind is wanting to worry about foreclosures and selling properties to get their money back. Therefore to as much as they can, help will be offered in creating a resolution to assist you.

Working with a mortgage broker or agent can also be helpful as they have specialized experience in this field and may be able to offer other solutions to your dilemma .

having trouble making mortgage payments

How to Get Approved for a Mortgage

How to Get Approved for a Mortgage

Knowing how to get approved for a mortgage is very helpful when planning to buy your first home, or investment property or even your second home. Do not even think that real estate financing can be approved without knowing that there are certain prerequisites on how to get approved for a mortgage.

people that are mortgage happy, how to get approved for a mortgage

When it comes to getting a mortgage approval you should be ready to provide proof of employment / income, down payment, strong credit history and willingness to work with your mortgage broker or agent.  There will be occasions when it’s just not time yet to buy your own place and that’s alright. This wake-up call allows you to prepare yourself for the near future. Things that you can do on how to get approved for a mortgage are:

1) Make sure you have a steady income stream; full time employment or self-employment

2) Start putting aside money for your down payment. You will need at least 5% of the purchase price. The higher your down payment amount the higher could be your chances to getting a mortgage approval.

Equifax_Transunion, How to get Approved for a Mortgage

3) Do a credit check on yourself with both Transunion, and Equifax Canada

to make sure your credit is in order. If you find any problems with it, such as fraud, outdated payment / debt balance information, incorrect personal information, or anything else; immediately rectify the issues. The stronger and cleaner your credit bureau history the better it will look when the lender reviews it at the time of mortgage application.

4) Even the property you are interested to buy can make a difference in your mortgage approval rating. There are times that for different reasons the lender will not approve the mortgage application, even though everything else is good, because the property is not marketable, or too small, or was previously used for illegal purposes. This is where it pays off to work with an experienced and trustable Realtor who can find you the right properties.

5) Lastly,and equally important, consult in advance with a mortgage professional about your future plans of home ownership. A mortgage professional is trained and educated on the subject of mortgage lending and underwriting. They will be able to provide you with valuable and timely advice.

Are you wondering if you could be approved for a mortgage and how much? Contact us. We are here to help, and work with you in reaching your home ownership goals.

Working with Trusterra Mortgage

Working with Trusterra Mortgage has many advantages.

Professionalism, truthfulness, customer service, judiciary responsibility, openness with client consultation, are just a few important points that we take seriously with the interest of our clients being the first priority when working with Trusterra Mortgage.

With years of real estate mortgage financing experience under our belts we have the know-how to get the job done right the first time around. By working with Trusterra Mortgage you bypass the long wait of making an appointment to walk into your local bank, and then after all that time spent there, feeling like the representative is trying to sell you a mortgage plus other products that you don’t really want.

Working with Trusterra Mortgage gives you the benefit, advantage, and comfort of knowing that we are here to work on your behalf and for your best interest. And we’re not going to try to sell you a whole lot of things you don’t need or want.

Have questions, not sure about something in the mortgage world, whatever your real estate financing needs are, we’re here to help. Don’t hesitate … CONTACT US! and let us show you why working with Trusterra Mortgage is a good idea.

Mortgage Happy

Are you a Mortgage Happy person?

Are you a mortgage happy person or not a mortgage happy person?  We want to hear about what was your good and bad experiences when going through the mortgage application process when you were buying a home whether as a first time home buyer or an existing home owner.

Share with us and the world why you are a happy person, or not when it comes to the mortgage application process.

If you were to go through the mortgage application process what changes do you want to see in the mortgage industry, what can be improved on?

people that are mortgage happy

 

 

 

 

 

 

 

 

 

How to Select Mortgage Broker

How to Select Mortgage Broker

Are you planning to buy your first home, or refinance your existing home? Maybe you have been thinking about purchasing an investment property. Whatever your plans are, you should know how to select mortgage broker.

In the mortgage industry, these professionals are called mainly Mortgage Brokers, or Agents. There are many reasons why you should know how to select mortgage broker and we will provide a few here, and invite you to also share your points and experiences on how to select mortgage broker in the comments section below.

An experienced and licensed mortgage broker or agent specializes in helping you get a mortgage to purchase real estate. Mortgage brokers or agents for the most part do not sell other products as part of their mortgage services and they are here to work on your behalf and for your benefit in applying for a mortgage with one of the lending institutions in Canada.

First you need to make sure when selecting a mortgage broker or agent that they are licensed with the provincial governing body of the province they reside in. You can go onto the Governments web site and check to see if their name is on their approved list. Or you can call in and check that way.

Another way on how to select mortgage broker would be to see how many years of experience they have in the field. Being a member of the Canadian Association of Accredited Mortgage Professionals CAAMP www.caamp.org  is a bonus and a good sign as well of the mortgage broker or agents level of professionalism, and commitment to the industry.

As part of how to select mortgage broker you should also make sure that you interview the mortgage broker or agent over the phone or in person. This will allow you to gauge their sincerity and personal demeanor and respect for their clients by way of their tone of voice and body language; are they showing interest in you and listening to all your questions and concerns?

Referrals from a close friend or family member are another method in which you can funnel out the mortgage broker s or agents. These are individuals who would have worked with a mortgage broker or agent in the past and will have your best interest in mind.

Don’t be fooled or swayed towards advertisement promoting best and lowest rates around, but not knowing who the company is or person advertising the rate. You might be promised a low rate, but how will the service and trust factor be?

These are just a few suggestions, and we hope to hear your comments as well below.

How to select a Realtor

Whether you are a first time home buyer or an existing home owner looking to buy or sell,  it is very important for the consumer to know how to select a Realtor, and you can do this in several ways; research online, and in person by way of speaking with their family members, friends, and colleagues about their personal experiences of working with a Realtor when they bought their first home or sold it. Many times, our clients are referred to their Realtors through their trusted network of friends.

Most importantly, you should be interviewing the real estate professional so you know how to select a Realtor.

 

Some questions that can be asked from your potential Realtor are:

1) How many years have you been working in the real estate industry as a licensed Realtor?

2) What is your area of specialty in real estate?

3) What is your geographical coverage? You want to make sure you work with someone who knows the city, town, neighbourhood, or village that you are looking to buy in.

4) Ask the Realtor if they can provide you with any references from past clients.

5) You can also ask to see the Realtors portfolio of homes he or she had sold in the past.

6) How are you planning to advertise and sell my home in the market place?

7) Why should I work with you instead of your competitor?

8) Are there any fee’s in working with you?

9) Do I have to sign a contract to exclusively work with you, or can I go somewhere else if I am not satisfied with your service?

6) [you can ask yourself the following questions]

(a) How many listings does the Realtor have currently?

(b) Does the Realtor have a professional presence online, such as a web site, and social media feeds?

(c) When meeting in person with the Realtor what is her or his attitude and demeanor towards your interest in buying a home?

(d) Perform an online search of the Realtors name to see if any positive or negative results in the way of good or bad reviews / comments are said about the individual.

(e) Call the Real Estate Board in which the Realtor is part of and check with them to see if the Realtor is in good standing or not.

Canadian Mortgage Brokering Industry

Canadian Mortgage Brokering Industry

The Canadian mortgage brokering industry still has a long way to go in becoming recognized as a primary source of financial services for real estate financing equal to the big banks. What many people do not realize is that Canadian mortgage brokers and agents for the most part get mortgages for their clients from the big Canadian banks and even those with stable income / employment and strong credit scores can still work with mortgage professionals. It’s actually to their benefit to go through a mortgage broker / agent as our services are more specialized and customer service oriented with our clients best interest first in mind.

Mortgage Brokers and Agents must study specific industry courses as a minimum benchmark before they can be allowed to get licensed by their respective Provincial regulator.

The official national association that represents the mortgage brokering industry is called the Canadian Association of Accredited Mortgage Professionals CAAMP.

Canadian Mortgage Brokering Industry

Mortgage Professional

Mortgage Professional

In the complexities of an ever advancing Canadian real estate market it has become increasingly important and beneficial for the consumer, such as the first time home buyer, existing home owner looking for a mortgage renewal, or the real estate investor seeking to acquire an investment property to work with a seasoned Canadian mortgage professional – mortgage broker / mortgage agent —  when it comes to getting their mortgage financing in order.

A mortgage professional, or otherwise known as a mortgage broker or agent – we will call them from this point onwards the ‘mortgage professional’ — studies in the field of real estate financing and specializes just in mortgages. A mortgage professional here in Canada works for the benefit of the consumer / client, making sure that the mortgage client receives the correct and unbiased professional advice that best suits the needs and realities of each clients situation, which differs from everyone one else.

Unlike the individual working in a bank, mortgage professionals will not try to up-sell to you proprietary specific bank products in order that they meet their sales quota. Mortgage professionals will not push you towards one lender over another, but rather, they will decide which one of the lenders has the best mortgage product based on your personal and unique circumstances. For most consumers when working with mortgage professionals there is no fee’s or charges that they have to pay. The lending institution that approves your mortgage application will pay a commission to the mortgage professional after the closing of the deal.

Unfortunately it has become normal practice for the consumer to shop around just for the lowest interest rate even if that means sacrificing the quality and trustworthiness of the individual or company that is quoting the low interest rate. There should be more to your investigation and shopping of mortgages than just how low their interest rates are. You should be looking at the overall package of the mortgage professional.

Most provinces in Canada regulate the mortgage brokerage industry. The purpose of the regulation is for the protection of the consumer by making sure that individuals who want to work in the industry meet certain minimal judiciary and educational requirements.

If you are considering to become a mortgage broker or agent in any of the Canadian provinces, or you are thinking about seeking the professional help of a mortgage broker or agent, you can visit the following Government web sites to learn more about the mortgage industry and its professionals in most Canadian provinces.

British Columbia

Financial Institutions Commission – FICOM

The Financial Institutions Commission (FICOM) is an agency of the provincial government, which administers nine statutes providing regulatory rules for the protection of the public in the province of British Columbia.

 

Alberta

Real Estate Council of Alberta – RECA

RECA is an independent, non-government agency, responsible for governing industry professionals in the real estate, mortgage broker, and real estate appraisal industries.

 

Saskatchewan

Financial and Consumer Affairs Authority – FCAA

Financial and Consumer Affairs Authority (FCAA) protects consumer and public interests and supports economic well-being through responsive financial marketplace regulation. FCAA enhances consumer protection through licensing, registration, audit, complaint handling and enforcement activities pursuant to various provincial statutes.

 

Manitoba

The Manitoba Securities Commission

The real estate division is responsible for administering The Real Estate Brokers Act and The Mortgage Brokers Act. This division registers real estate brokers, salespersons, and mortgage brokers, monitors brokers’ trust accounts, and investigates complaints against real estate brokers, salespersons and mortgage brokers.

 

Ontario

Financial Services Commission of Ontario – FSCO

The Financial Services Commission of Ontario is a regulatory agency of the Ministry of Finance that regulates insurance, pension plans, loan and trust companies, credit unions, caisses populaires, mortgage brokering, and co-operative corporations in Ontario.

 

Quebec

Organisme d’autoréglementation du courtage immobilier du Québec – OACIQ

The Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) is the organization responsible for the application and enforcement of the Real Estate Brokerage Act.

 

New Brunswick

Department of Justice and Consumer Affairs Consumer Affairs Branch

 

Nova Scotia

Service Nova Scotia and Municipal Relations Business Licensing