Rowan Smith, Mortgage Broker
The Mortgage Centre
Mortgage broker Rowan Smith works for you, not the lender. Mortgage brokers are paid a one-time commission. They require no benefits from the banks; they pay for their own offices, and they are offered no other pay or fringe benefits from their lenders. In short, it is cheaper for the banks to offer mortgages through lenders than through traditional banking branches where they need to pay rent, salaries, benefits, insurance, and so forth.
Thursday's presentation featured compelling examples of various people Rowan has recently helped. These included an 82 year old West Vancouver pensioner with a valuable home he'd owned for many years, but also a substantial debt load he'd accumulated as a result of helping family. (No good deed goes unpunished?) By restructuring his client's debt, Rowan reduced monthly payments from $2,062 (mortgage) plus $2,250 (credit card) to a vastly reduced payment of $1,397 for BOTH (versus a total of $4,312 a month). Savings of $2,915 per month!
Another story Rowan shared with us demonstrated his remarkable skill in negotiating mortgages for the self-employed, people that banks routinely turn down because of their inability to prove steady income. One such client had been a successful commercial welder for 10 year -- he'd earned $75,000 annually -- but because he'd started his own business less than a year ago and hadn't yet filed the pertinent tax return, three banks and two brokers turned him down. In all of 24 hours, Rowan had his client approved for a $650,000 home purchase. The man bought a home for $625,000 less than a week later.
Two banks also turned down a movie industry worker for being "high risk", but Rowan stepped in and got the individual (who'd paid $1,750 monthly rent) into a $475,000 condo, where mortgage payments are no higher than rent had been.
It seems that no matter how sticky a mortgage qualifying situation may be, Rowan is the man to step in and render it workable. Got an oil tank in your yard? No problem! Rowan can coach you (as he's done for the owner of a Commercial Drive "old timer") in how to have said tank removed according to city bylaws. You say your rental suite isn't "approved" (fact: they almost never are) and the bank won't give you credit? Turns out there are ways to make that suite income usable, and Rowan can walk you through the process.
Whether you're ready to buy your first home, or looking to renegotiate an existing mortgage, remember that conventional lenders have no vested interest in getting you the best possible deal. Rowan Smith does, and he knows what he's doing. So contact him today and "take the hassle out of financing your castle."
Phone: 604.657.6775
Toll Free: 800.774.8818
Fax: 604.637.2139
smith.rowan@mortgagecentre.com
Website: rowansmith.ca
Blog: mortgagecentrecitywide.com/blogs/smith
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