Mortgage Brokers in Kelowna

 

Mortgage Broker Kelowna

Michelle is a Kelowna BC mortgage specialist. Mortgage Broker Kelowna helps home buyers or homeowners find the best rates and financing for their homes.

Mortgage brokers are primarily working on behalf of the borrower, while banks compete to offer mortgages. The rates vary depending on the aggressiveness of banks in a particular market.

Kelowna Mortgage Broker, allows several banks to compete for your business with only one credit check. This is a great service for anyone who wants to buy a home or already owns one and wants to make sure they get the best rates available on the market.

Mortgage Broker Kelowna can also help in difficult situations by finding funding. Self-employment income is one example of how banks may have difficulty with non-traditional, non-T4-type income.

In extreme cases, private lenders may be involved. Michelle’s responsibility to her clients is getting them the best mortgage rate possible. She does this.

Private Mortgage Lenders Kelowna

Many Canadian banks are governed by government regulations. This makes many Canadians turn away from banks in favor of less regulated lenders. Depending on your circumstances, a private mortgage or loan could be the best option.

In situations where banks refuse to or are unable to lend money on your mortgage due to past bankruptcy proceedings or poor credit or income questions, private mortgage lenders may be used. Private lenders offer borrowers an alternative.

Private mortgage lenders can arrange first and second mortgages for residential & commercial property. They can also provide funding & approvals quickly, with fewer qualifications than a bank.

Commercial Mortgage Broker Kelowna

Commercial Mortgage Broker Kelowna deals with properties such as office, retail, industrial, and apartment rentals. They can connect you to several lenders in your area. A lender will evaluate the risk of each property.

Commercial Mortgage Solutions for all types of properties. Construction loans, refinance financing, and land financing are available for all types of properties, including multi-family, mixed-use, industrial, office buildings, and retail plazas. medical building, self-storage, hotel, motel.

You can save thousands or even more dollars by getting the right financing.

Mortgage Calculator

Our mortgage calculators will help you determine how much you can afford to borrow, compare mortgage rates, and learn all the information you need for your next purchase. Simple mortgage calculator with extra payments or amortization.

The minimum down payment is 5% in Canada. Home buyers who make down payments of less than 20% are required to buy mortgage default insurance. This is also known as CMHC Insurance.

Mortgage Broker Fees

Our interests are aligned, which is why clients love working with Kelowna Mortgage Broker. Mortgage brokers are paid 100% on commission, and it is our job to ensure that we find our clients the best mortgage rate and product when the time comes to put the mortgage in action.

The mortgage lender pays the fee to the mortgage broker at that point, not the client. The mortgage broker works hard to approve their client, so both the client and the mortgage broker win in the end. This is true for “A” loans.

Fees can vary when it comes to alternative lenders such as private lenders or “B” lenders. These lenders are used when a client doesn’t meet the “A” guidelines for lending but still has a high risk.

These lenders take on more risk and charge an extra fee. The fee can range from 1% to 2% of the total mortgage amount.

Mortgage brokers are paid half as much by “B” lenders than they would be from “A” lenders. The mortgage broker can choose to add a fee on top of compensation.

Mortgage brokers are not paid by private lenders, so they would have to charge them a fee to get paid. The average Mortgage Broker in Kelowna will charge fees between 5% and 2% on alternative lending deals.

Kelowna Mortgage Rates

This mortgage calculator provides rates for Kelowna and BC as well as Canada. Michelle can help you determine whether mortgage rates are increasing or decreasing.

Kelowna BC

Kelowna, Canada’s most western province, is located in the Okanagan Valley. Kelowna lies about two hours north-northeast of the US border, which crosses into Idaho. The city is located on Lake Okanagan. This lake is 150 km long and can reach depths of 800 feet in certain places.

Kelowna’s surroundings include orchards, vineyards, mountains and forests. It is also surrounded by provincial parks. Downtown Kelowna includes a waterfront park called City Park and what is said to the be largest marina in Canada. Kelowna, Okanagan Valley, and its fruit orchards used to be known worldwide for their wines.

Wineries are also a major contributor to tourism in Kelowna, the Okanagan Valley, and surrounding areas. As wineries have become more numerous, wine tours and tastings are becoming increasingly popular. In 2016, the contribution of tourism to Kelowna’s economy surpassed $1 billion. In Lake Country, south of Osoyoos and the US border, there are hundreds of vineyards and wineries.

Kelowna’s largest employer is the tourism industry. Summer activities include boating, hiking, and golf. Winter sports include Nordic and Alpine skiing. Two major resorts in Kelowna offer “Champaign Powder” — Big White, near Kelowna, and Silver Star, near Vernon.

Okanagan College offers post-secondary courses, and in the early 2000s, the University of British Columbia Okanagan opened a campus in Kelowna. Each of these institutions has an enrollment of about 9,000 students. The college is known for its adult education and vocational training, but also its university transfer and business programs. UBCO offers similar programs to UBC Vancouver — a variety of undergraduate and graduate degrees.