Investment Property Mortgage Broker

[flyingsquirrel]

Anyone know of a good investment property mortgage broker that understand the 110% rule?

 

[bizaro86]

There are a number of good ones on this forum, and I'm sure they'll chime in. It might help to know where you are, as its always nice to be able to meet someone face-to-face.



Regards,



Michael

 

[flyingsquirrel]

I am located in Scarborough Ontario.

 

[RussellWestcott]

Contact Peter Kinch's office, they will be able to connect you with a PK approved mortgage broker in your vicinity



>> website here

 

[flyingsquirrel]

Thank you so much for your help. I will surely look into it.

 

[MrHamilton]

[quote user=RussellWestcott]... PK approved mortgage broker in your vicinity...






Talk to Kevin, the REIN member, RE investor, PK approved mortgage broker extraordinaire who works with several REIN members.



Kevin Boughen, AMP

Mortgage Broker # M08007546

Dominion Lending Centres

Brokerage # 11890

25 Sheppard Ave W, Suite 300

Toronto, On, M2N 6S6



Office: 1.888.864.1677 ext 1

Fax: 1.888.502.3110

Mobile: 416.509.4047

Email: kboughen@dominionlending.ca

 

[flyingsquirrel]

Thank you so much for the information.

Kevin is locate to me. I can actually visit him.

 

[Peter]

Hey, just checking to see if you got ahold of Kevin. He's very good and really knows his stuff.

Just as an aside though: since April of last year with the new rule changes, the 110% rule or the 1.1% rule as I call it changed and is no longer effective (remember that I was the guy who originally wrote about the rule back in 2003). Unfortunately, it used to be that if you had 3 or more rental properties that cash-flowed at 1.1% or more than you virtually didn't need to show much income. Since the subprime crisis and global credit crunch though, Firstline and many lenders have changed their programs. The 1.1% rule still exists, but they now make it virtually impossible for most investors to qualify using it because of various restricitons.

Having said that, there are other options today that are equally as good and Kevin can walk you through them.



Let me know if you need any more details.



Peter

 

[AndrewMacDonald]

I'd second Erwin's thought to get in touch with Kevin Boughen. I've been very pleased working with him and he can help you understand everything you need to build a portfolio.

 

[flyingsquirrel]

I am planning to get in touch with him tomorrow and hopefully I can set up an appointment with him.

Thank you so much for everyone's input.