Brian Field
2005 Sheppard Ave. E., Suite 200 M2J5B4 Toronto, ON, Canada

One of the most common questions I get from our clients is how much the down payment will be on their investment mortgage. While your lender will determine this amount, the down payment is typically a minimum of 20%. However, the down payment will vary depending on the type of investment: non-owner occupied and owner-occupied. If you live in one of the units, your down payment can be as low as 5%. While investment mortgages are a fantastic asset to investors, they are not ea...sy to attain. To qualify for an investment mortgage, the buyer must: - Demonstrate sufficient rental income (proof through tenancy documentation or market rent) - Maintain good credit history - Demonstrate sufficient non-rental income - Proof of down payment When you make an appointment with me, I’ll take the time to understand your investment plan, including the kind of property you are looking to purchase and how much revenue you are expected to generate. From there, I’ll be able to make appropriate recommendations for what type of investment mortgage could work for you. Ready to chat about your first or next investment property? Send me a message or give me a call at 905-442-1236!

After one of our busiest years yet, our team will be taking a well-deserved break this holiday season. Our Sudbury Head Office at Today’s Mortgage Choice will be closed beginning December 24 and reopen on January 4. For any immediate or emergency assistance, please send me an email or give me a call and I’ll get back to you as soon as I can. From our family to yours, have a safe and healthy holiday season. ... Merry Christmas - Joyeux Noël!

A lot has gone on this year in the mortgage market. We have had everything from rate drops to deferrals to restrictions come at us and your personal situation may have changed. As the year comes to an end, if you have not made time for your annual mortgage check-up, now is the time! Send me a message and we can review your situation, free of charge, to ensure you are getting the mortgage that’s right for you.

What's a Credit Score? Your credit score is a number that evaluates your creditworthiness. Your credit score is a report card, grading you on how well or unwell you’ve repaid loans in the past. Your credit score can range from 300 - 900. Ideally, your credit score is in the 700 to 900 range, which makes finding you a lender for your mortgage quick and easy. Each lender has different criteria on what score they will lend to, so the higher the score, the better! It’s important... to know that your score will change over time. Just because you checked it a few months ago, doesn’t mean it will be the same when we check it when applying for a pre-approval. The two biggest things that influence your credit score are the amount of debt you have, and the number of late payments you make. The more debt and the more late payments, the lower your score will be! Give me a call or send me a message to book some time to review your credit score!

Are you self-employed and looking for a mortgage? If you are a self-employed individual or business owner, you might be wondering what your options are for homeownership. Our team at Today's Mortgage Choice can help. While it might be slightly more challenging to finance your new home or leverage the equity of your existing home, there are still a number of options available to you.... In general, proof of steady and reliable income is considered an important criterion in the mortgage qualification. Therefore, as a self-employed individual, you will need to prove your status as an ideal loan candidate. To qualify for a mortgage as a self-employed person, you’ll need to provide your most recent Notice of Assessment. This will ensure proof of both income and taxes. You might be required to provide other documentation, depending on the lender. Ready to start planning for a new home purchase in 2021? Give me a call or send me a message!