Frequently Asked Questions (FAQs)
Kelleway Mortgage Architects
What is Glen Kelleway's job as a mortgage consultant?
Why use a mortgage consultant?
Why work with Glen Kelleway?
What are Glen Kelleway's fees?
What is required to obtain a mortgage?
Can gift money be used for down payment?
How long is the mortgage approval process?
What are the different types of mortgages?
What are the mortgage lenders available through Kelleway Mortgage Architects?
Can a cash back mortgage really help me save money?
What are Glen Kelleway's credentials? Why use a mortgage consultant?
With the recent fluctuation in interest rates, the public has become more aggressive in seeking out the best possible terms from a lender. A mortgage consultant searches a large segment of the mortgage industry for the optimum terms, rather than negotiate personally with only one or a few lenders.
Consumers like you are increasingly discovering they just do not have the time to shop from one lender to the next, trying to figure out which deal is best. According to the Canadian Association of Accredited Mortgage Professionals (CAAMP), the popularity of Canadians using the services of mortgage consultants is growing annually.
Why work with Glen Kelleway? Consider this for a minute: How often do you think about mortgages? I think about mortgages day-in and day-out and I’ve been doing this for years.
I am an independent agent, which means I do not work for a bank, I work for you. I offer my clients (particularly first-time buyers) a high degree of expertise and knowledge on the nuances of mortgages rarely found at the local bank.
Not only do I seek to understand everything there is to know about mortgages, I will be happy to explain it and answer all your questions. As a mortgage consultant, I am 100% dedicated to the financing of your home and I know all about GDS, TDS, PIT, ARM, LTV, ETO, IRD, etc.
Also, because I am approved to get mortgages from different lenders, I receive daily updates about new products, changes in lending policies, interest rate changes, promotions, and more!
I can shop dozens of lenders in the time it would take you to book an appointment at a bank. I know which lenders offer which products and I can quickly short list the ones that best match your needs. Shopping for mortgages can be time-consuming and frustrating if you do it yourself. Let me work for you and you will end up with the best mortgage product and rate, in just one stop.
The best part –depending upon your credit picture– is that Kelleway Mortgage Architects does not charge any fees for arranging normal mortgage financing! Although I work for you (not the lender), I get paid a finders fee by the lender that funds you the best mortgage product.
These finders fees pay me and my team at Kelleway Mortgage Architects for explaining the mortgage terms and options to borrowers, taking mortgage applications, sourcing the best mortgage financing, gathering and processing documentation, and bringing lenders customers like you who complete their funding. I build my business by developing lifelong mortgage financing relationships with my clients and giving them such exceptional service that they send me referrals. Therefore, keeping my clients happy and coming back is much more important to me than any incentive program that a lender could offer me as a mortgage broker.
Only in very rare circumstances do clients pay a fee for my work, such as when I facilitate porting a small mortgage or arranging financing for buying a low priced mobile home. All this is discussed upfront, disclosed and agreed to in writing.
To get the best mortgage rate, terms and conditions, you'll need the following:
* Mortgage application
* Credit history
* Verification of source of down payment
* Proof of income: Employment Full-time, Part-time, Commissions, Self-employed, Employment Insurance, Pension
I can also access mortgage financing for borrowers with impaired credit history or undeclared income.
Call me at 604 476 0053 or e-mail glen@mtgitright.com to discuss your case.
Yes, most lenders will accept down payment funds that are a gift from family. A gift letter signed by the donor is usually required to confirm that the funds are a true gift and not a loan. Click here for a Gift letter template.
As your mortgage broker I'm highly motivated to get your mortgage completed FAST!
The first step is to start a mortgage application. You can fill an application online, over the phone, by fax, by mail, or in person. Once I have your information I will contact you for any details needed and to answer your questions. After I’ve analyzed your financial situation and goals I shop several lenders for the best mortgage products for your needs. I can usually get you a mortgage approval within two days of having your information.
Once you and I agree on the final choice, I place that mortgage with the lender you want. Only after all the details are finalized and your mortgage is complete do I receive my finder’s fee from the lender. This provides strong motivation for me to negotiate with the lender and keep your deal moving forward.
All you need to start is to fill out a Mortgage Application.
and many more....
Please see the Mortgage Types section for more info.
Call me at 604 476 0053 or tollfree 1 866 476 0053 or e-mail glen@mtgitright.com to discuss the types of mortgages available to you.
Cash back mortgages give you the flexibility that extra cash can provide. The amount of cash back is based on the size of the mortgage and the length of term you choose.
But you must be very careful. Some of the promos used to entice you to take a mortgage at an institution may seem very appealing but the long term effect could be costly. A 5% cash back may seem great on closing, but a 1% discount in your rate may save you considerable more over the 5 years. It is important to look at the numbers. I have the systems available to compare your options and ensure you get the mortgage that fits your needs best.
Give me a call at 604 476 0053 to do the math. Some clients can qualify for cash back at the maximum broker discounted rates, which is an excellent way to pay down higher interest rate debt.
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