Scripts & Dialogues - Mortgages

• Have you been more than 30 days late on any payment over the last 6 months.      
• We have to send that to our underwriting department.          
• The underwriter will give you a higher price because the listing price will reflect a high value.
• Sometimes from a qualifying standpoint they can't go higher than that
• they will get the loan outside of death
• we've established relationships with lenders
• The penalties are greater than my fees
• partial discharge privileges
• We imalgimate the downpayment in to the mortgage payment
• Preferred lending partner
• Borrowing money is not cheap and borrowing money that you do not qualify for is more expensive than that
• the shorter the term and the lesser the amount the harder the money is to come by and the more interest is charged
• pre approval means that the lender has stated in writing that you do qualify for a mortgage and what amount based on your current income and credit history
• another advantage to pre approval is that when it comes time to purchase pre approval lets the seller know that securing financing should not be an issue. This is of particular importance in a competitive market whereby the seller may receive multiple bids
• while receiving a pre approval does not commit you to a single lender it does guarantee that the lender's rate offer is locked into you for 90 to 120 days which helps if interest rise while you are still shopping. If interest rates decrease you will be offered the lower rate
• what we have is an outline of the benefits we offer that clearly states no cost and no obligation and if we under deliver you only let us know you wish yo stop working with us
• a swift close with a magnificent lender
• Buying and/or selling Real Estate is most often about the elevation of lifestyle
• those are what the industry calls discount brokers and I refer to as limited service brokers
• Toronto is ranked first in CIBC World Markets Metropolitan Economic Activity Index. Been in the top 5 for 7 consecutive years.
• 3690 sales in December 2012. Down 19.5% from 4585 Sales on December 11.
• 13,241 Active listings in December 2012. Up 2.9% from 12,868 in December 11.
• Average days on market are now 36 days up to 10.6% from 32 days in December 2011.
• Toronto unemployment rate is 8.4%
• Prime rate is 3%.
• Stricter mortgage lending guidelines that preclude government backed mortgages on homes sold for over 1,000,000 and the city of Toronto’s additional upfront land transfer tax played a role in the slower pace of luxury detached home sales.
• The MLS Home Price Index Composite benchmark price covering all major home types eliminates fluctuations in price growth due to changes in sales mix.
• Inflation rate is 0.8% also known as Consumer Price Index
• Stricter Mortgage lending guidelines resulted in some households postponing their purchase of a home
• Canada's economy is transitioning from one dependent on borrowing to one more reliant on strong reports.
• The delinquency rate on Canada mortgages is 0.38% compared to an average 3.4% in the USA.
• We expect the Bank of Canada to begin the process of raising its overnight rate in the third quarter of next year assuming that the European crisis remains contailed and that the US fiscal  challenges are addressed.
• that is a predictable indicator
• there is no pressure but there should be a sense of urgency if something is good
• you will rarely know clearly all the dynamics of it until you execute it
• there is no shortage of inventory but there is a shortage of homes available for sale on the MLS
• we have the expertise to manouvre
• doing loans is easy. Getting the clients to submit the Documents is the hard part
• if I asked you to pay me $100 in Simple interest to borrow $5000 so you can save $20000 would you
• mortgages is derived from the Latin word MORTIR which means it is a contract until death
• decrease your expenses to increase discretionary income
• leverage discretionary money to maximize the efficiency of your finances
• would you pay $5 in simple interest to borrow $100 if you knew it would save you $2000 in compound interest in the long-run
• by borrowing small amounts of money at simple interest we will eliminate serious compound interest by building wealth
• we have to understand the Bankers business model to win at it
• accelerate the payoff of your mortgage by leveraging existing cash flow and a home equity line of credit
• accelerate the amortization table on your mortgage
• most of us are designed to make our monthly mortgage payment and pay no attention to how much is being payed to principal and interest
• banks typically lend you money when you don't need it. Not when you do
• consolidate minimize and pay things off
• for every $100 or it's equivalent in any other currency only about $4 exists as printed paper notes or coins whilst the remaining $96 exists as numbers stored on computers
• shred My mortgage is a behavior modification software
• Eliminate interest expense on debt
• leverage the bank system against the bank
• let us skip over the pre approval and start the underwriting process
• Senior Mortgage Strategist
• a reverse mortgage never has to be paid back until the last remaining spouse passes away or they sell the home
• we have mortgage products for every income type that exists in Canada

• there are 5 levels to financing

• Risk-averse sellers can be skittish about working with buyers who have low cash down payment. It is wise to include mortgage pre-approval letters with your offer.
• Reverse mortgage is 25% up front and then 5% for every 5 years in age up to 55% and 85 years of age
• annual income multiplied by 5 for simple math is the amount of mortgage they will qualify for
• we work with Good credit bad credit and I should not have credit
• it's not that I am unable to as much it is that it is unlikely to be done
• our Lending Partners are salaried employees and they earn a commission based on volume
• you marry your house but date your mortgage
• Mortgage commitments by mortgage lenders are inevitably conditional on a property appraisal
• Creative financing is a combination of knowledge and skill
• If the conditions warrant doing creative deals but you are not able to put these deals together then you could be done doing many deals
• Affordability is the Real Estate industry because Buyers must be able to Buy in order for Sellers to be able to Sell
• Creative financing is a combination of knowledge and skill
• Amortization is the time it will take to pay off the loan assuming you don't make any extra payments
• Interest is calculated on what you owe
• A 1% increase in mortgage rates equates to a 10% decrease in Buying power based on the interest rate jumping from 6% to 7% with a 25 year amortization
• 5 times income with 20% downpayment and 4 times income with less than 20% downpayment is a quick qualifying mortgage amount
• A 1% increase in interest rates equals $50 more monthly for every %100,000 of loan amount at 6% interest
• First right of refusal belongs to the co equity Partner
• Principal paydown is credited to the benefit of the Home Owner
• The Buyer gets back original downpayment plus a proportionate share of equity increase
• The co equity Partner contributes to the land transfer in a proportionate share
• Guarantors don't go on title and it does not affect their credit
• We have very lenient debt to income ratios
• Co Equity is a 10 year term ending with a proportionate share being paid out on the  upside of the appreciation
• We will take a wholistic approach to formulating a solution
• We deal with 50 lenders that have 7000 products
• We have in House Mortgage strategists that are salaried employees
• A score is not a credit
• Finance is a combination of knowledge skill and connectivity
• The lower you go down the ladder relative to financing the higher the interest rate and the more substantial the fees are to gain that loan
• It is not a bank it is a financial institution
• The term is the time frame that the bank is committed to you at that interest rate and for that amortization schedule
• Amortization is the time it will take to pay out a loan without any change to the interest rate or the term of the loan
• Financing is often about packaging positioning creativity and ingenuity
• Toronto is ranked first in CIBC World Markets Metropolitan Economic Activity Index. Been in the top 5 for 7 consecutive years.
• Toronto unemployment rate is 8.4%.
• Prime Rate is 3%.
• 5759 Sales - February 2013
• 6809 Sales - February 2012
• The share of sales and dollar volume accounted for by luxury detached houses in the city of Toronto was lower this February compared to last February. This contributed to a more modest pace of overall average price growth.
• Stricter mortgage lending guidelines that precluded government-backed mortgages on houses sold for over 1,000,000 and the city of Toronto’s additional upfront land transfer tax played a role in the slower pace of luxury detached home sales
• The MLS home price index is a composite benchmark price covering all major home types and eliminates fluctuations in price growth due to changes in the sales mix.
• Inflation rate is 0.8% also known as Consumer Price Index.
• Prices up 5.3% in Toronto on average
• Canadian economy is transitioning from one dependent on borrowing to one more reliant on strong exports
• The delinquency rate on Canadian mortgages is 0.38% compared on an average 3.4% in the USA
• We expect the Bank of Canada to begin the process of raising its overnight rate in the third quarter of next year assuming that the European crisis remains contained and that the US fiscal challenges are addressed
• Home resales fell across Canada for the 9th time in the past 10 months.
• Re-sales were down 17.1% across Canada on a year over year basis
• Vancouver registered the biggest monthly decline at 5.3% followed by Calgary at -1%, and Ottawa and Edmonton are advancing markets.
• Sales to new listing rate at 51% across Canada - in line with balanced market conditions
• 6.7 months of inventory across Canada Absorption Rate
• The market remains vulnerable to unexpected shocks to economy
• The ratio of the inventory of new and unoccupied units to population is a simple potential overbuilding, which rose slightly at the end of 2012, reaching 5.8 in the fourth quarter of 2012 compared to 5.4 in the third quarter.
• Construction intentions for multi-family dwellings declined by 10.8% 5 monthly decreases in a row.
• Construction intentions for single-family dwellings declined by 4.1%.
• 50.8% SNLR Nationally.
• Municipalities across Canada assured permits for the construction of 199,500 new dwellings.
• Consumer spending growth at 2.2%, annual and rate in Q4 2012.
• Stricter mortgage lending guidelines resulted in some households postponing their purchase of a home.
• The average selling price for 2012 as a whole was up by almost 7% to 497,298.
• Leased space down 30% compared to the fourth quarter of 2011
• Industrial properties accounted for 83% leased space reported in the last 3 months of 2012
• Average industrial lease rate is 4.65 psf for Q4 2012 compared to 4.92 psf for Q4 2011
• 214 Commercial property sales reported through the TOMLS system in Q4 of 2012 down from 300 Sales in Q4 2011. Industrial sales down by 17.1%. Commercial sales down by 28%. Office sales down by 49%
• Average price for Industrial and commercial is up. Average price for office is down.
• An indication of price pressure in the existing home market is the sales-to-new listings ratio. New listings are a gauge to the supply of existing homes while MLS sales are proxy for demand.
• The order of delinquencies to watch out for in order to have a glimpse to the future is unsecured partially secured and then fully secured
• Low and stable inflation is defined at 2%
• It requires 12 to 18 months of observation for a hike in interest rates to have it's full impact
• Gifted downpayments are not possible with rental property
• You have the opportunity to work with any lender in the Broker channel
• A passive book of referral income for your Business

With 20% down you avoid...
1. Underwriting approval from the insurance company in addition to the bank
2. You are able to have an amortization for 30 years if you choose
3. You avoid mortgage insurance fees
 

• It is only a lot because we had a taste of what a little looked like and thus it is not that much in relationship to what it used to be
• We will be proactive about reporting income
• Pay attention to employment and inflation whence attempting to predict interest rates. If employment exceeds expectations interest rates will likely stay where they are or go up. If inflation goes down interest rates will likely fall with it.
• Build an intimate relationship with peoples financial situations
• Nexa means the bringing of two or more things together
• We have many loan officers doing a lot of Business
• We receive better pricing because of our size and volume
• Those lenders compete against each other for our Business
• We are at a fundamental advantage when it comes to interest rates
• We have the ability to say yes to more people than any other Mortgage Company out there
• 6 months ago B lenders wanted 3 months Bank statements and now they have all mandated 12 months.
• This is what I require This is why I require it This is when I require it and this is why I require it by this time
• I require this to finalize the mortgage NOT start the application
• Your mortgage is the nucleus of your financial wellness DNA
• There is a big misconception about what happens when we pull your credit and it is not true
• The nature of income is a big consideration as it relates to qualification
• A 3rd party Company (Our Borough) will come in as an equity provider and Partner with them for the down payment portion which will unlock opportunities within the Rolodex
• We have Niche market products such as the shared equity program
• We are able leverage income sources that other Brokers do not have access to because of our Lender Status exemption
• We will unlock opportunities within your Rolodex that other Banking Partners would not be able to
• We are top tier status with all of our Lenders which means we will receive exceptions based on location property type and debt service ratios that other Brokers will not
• We have access to 65 Lenders and 7000 products. We work with a significant portion of the Lenders in the Mortgage Broker channel.
• The government is working very diligently at this moment in History to make it much harder for people to qualify for home loans
• There is not enough supply and exponential demand. If rates come down usually prices will rise
• The number of new unit builds are dropping exponentially because Builders cannot predict their building materials and labor costs
• Mortgage rules are very much tightening at this moment in History
• The qualifications on what is required to achieve financing are consistently changing and are becoming more and more stringent. They may be very different tomorrow than they are today which may possibly preclude you from being able to actually buy a home
• A DRIP is a Dividend Re Investment Program whereby returns are re Investmented back in to the fund
• The main objective whence underwriting a alternative mortgage is to facilitate exit strategies allowing borrowers to eventually return to the conventional lending space
• Sometimes it is better to have a commitment with a higher rate and fewer conditions than a lower rate and a myriad of conditions
• The fund name itself is called 8Twelve Real Property Secured Debt Fund. So when you look at the offering they're in, that's the name of the fund itself, just like all funds have their own name. 8Twelve Asset Management has an asset manager for the fund. Mortgage administrator which was previously 8Twelve Capital.
• Buying with 5% down can only be done up to the first $500,000 after which 10% is required on the second 500k up to 1m after which 20% is required
• It may be unwise to make a long term decision based on the short term effect of interest rates
• Pay more than the monthly payment to Accelerate contributions to the Principal of the loan and shorten the life cycle of it and the interest payments in it
• Only after you pay your Mortgage do you actually own the Real Estate. Until then you own the loan
• 50% of all mortgages are coming due within 2025/2026
• Affordability is deteriorating as a function of supply shortages population growth and Mortgage rate increases
• Personal loan debt instrument registered on title
• Ourboro will co invest up to $250,000 to help you reach a 20% downpayment and put you in a position to become a homeowner sooner
• Ourboro's return of investment whether it is a gain or a loss is always shared proportionately
• With Ourboro Buyers have to contribute a minimum 5%
• Ourboro deals are a 30 year term and can be paid back any time with no penalties
• Buyers can sell the home or offer to buy out Ourboro's share at fair market value any time during the 30 year co ownership period
• With Ourboro the homeowner is responsible for mortgage payments maintenance and taxes
• With Ourboro there are no fees and it is not a debt
• With Ourboro when the property is sold for a profit Ourboro will take a proportional share of the profit
• Ourboro is the very rich parents you wish you had
• Ourboro pulls funds from accredited Real Estate investors and then deploys that capital in to homes alongside home buyers in the form of a downpayment contribution and in exchange they receive a share of the profits when the home is sold
• Break the home ownership gap with shared equity
• Insured mortgages no longer need to be stress tested
• From 2024 to 2026 there are over 1,000,000,000,000 ONE TRILLION dollars in Mortgages coming up for renewal in Canada
• The biggest challenges facing the mortgage market in 2023 are qualification and appraisals
• Ourboro is a shared equity Partner
• Ourboro contributes to the downpayment an in return receives a share in the future value of the home
• Ourboro's investment is not a loan and thus there is no interest
• A lenders will provide 50% of rental income off sets
• B lenders will give 75 80 85 90 100% or a rental worksheet and that all depends on Beacon score and where property is located
• Contributory income
• I go to the bank that will give me the money in lieu of the cheapest rate
• The 5 c's of credit are capital collateral capacity character credit
• A $400 car payment reduces buying power by $100,000
• 4.5x your income today based on the stress test is what you will easily qualify for on a mortgage
• We give you the best chance to secure the most capital at the lowest rate
• Most deals have their own difficulties