Residential Mortgage

Whether you are a first time buyer, moving home, refinancing or purchasing an investment property, Mortgages By Soin can help. Depending on what is best for your circumstances you can choose between fixed rate or variable rate.

When it comes to getting a pre-approval or approval for a Residential mortgage, the lender will look at the following criteria:

1. Income – Depending on your individual situation (Salary, commission, part-time or seasonal), the bank can ask for pay stubs, employment letter, and/or 2 year’s tax returns.
2. Assets- The borrower needs bank statements and investment account statements to prove that they have funds for the down payment and closing costs. Other assets will include property, vehicles, and tangible assets including gold, silver, etc.
3. Credit History- Lenders require a minimum credit score when approving your mortgage. If your credit has taken a hit, there may be alternative options available including B and private lenders.