FAQs

Frequently Asked Questions

Yes, it means that you’ll have to work for it. But we’ll be by your side for the ride. Usually you’ll need to spend 3-8 hours to get it done. We’ll do anything in our power to make it a stress-free experience for you.
Banks and lenders will look at the last 2 years of your tax documents, like T1 general, NOA’s, T2’s and financial statements. If the most recent year shows higher figures they will use the average of the two years. If the most recent year is lower, they use the lowest most recent year. When the difference between the year is bigger than 20% they will do a special consideration. Unique global event call for special consideration as well.
We as mortgage consultants have access to more than 40 lenders and 600+ mortgage programs which update on a daily basis. Lenders who work with mortgage brokers include traditional sources, such as chartered banks, credit unions, trust companies, as well as corporate and private pension funds. In addition to these sources, brokers often develop professional relationships with private sources of funds, also known as private lenders. These lenders can provide various mortgage products not available from conventional sources. Above this, being part of Canada’s large network and our accumulated volume gives us access to the best deals in the market.
Simply call us at 604.339.4495, email us at jacob@snegmortgageteam.ca or fill up one of the forms in this page to contact us. We’ll call and start an application for you.
A good investment property is the property that you can hold until the right time to sell it.
If you ask yourself this question, you are already one step ahead of those who don’t ask this question. The 2nd step is to consult with an expert; to review your abilities and match the right investment property to make the most of this step.
Usually you’ll hear in the news that there are great rates available to the borrowers. This is your cue to call us. We, on the other hand, run an ongoing algorithm to mine all of our clients that might benefit from refinancing their mortgage and we’ll call so if you are to save a significant amount AFTER paying your penalty. We are known across Canada because of this phone call. And of course, if a new financial need arises, it's a great reason to consider refinancing your mortgage.
As a client, the mortgage service is free of charge. Most financial Institutions pay a commission to the broker for doing all the legwork and credit research for them, which is otherwise the job of a loans officer. Since this service is valuable, a commission is paid by the lending institution to the mortgage broker. In rare circumstances, such as challenging credit or in highly complicated cases, the lender may not pay the mortgage broker, and fees payable may be charged to the client.
A reverse mortgage allows homeowners to convert a portion of the equity in their home into cash while still living in it. The borrower is not required to make monthly mortgage payments, but interest continues to accrue and must be repaid when the loan comes due, typically when the borrower sells the property or passes away.
A mortgage pre-approval typically lasts for 90 days. After that, you may need to provide updated financial information to the lender.