The broker will see how much equity you have in your home. And they find the situation-specific factors which get the best borrowing options. In the end, it always comes down to reducing your weighted-average cost of capital (WACC) and lowering the cost of your debts. Marcus and Justin also answer a listener’s question about what the main reasons for Canada’s inflation are.
Are they carbon tax implementations or record-high immigration? Unlikely. The carbon tax and cancellation of the Keystone XL pipeline were not enough to bring on global inflation on their own. Immigration will contribute in a positive way in Canada because it brings more workers into our economy and that will fight the recession.
The reasons for inflation are much more global than they are domestic. Inflation is a global issue, not specific to Canada. Why do I need a mortgage broker? If you have gone to different mortgage lenders in the past and they have all said no, you need to speak with a mortgage professional. Someone who has your best interests in mind and knows how to navigate this new high interest rate environment. They will answer questions like: Is the best course of action a refinance? What’s the difference between A HELOC from a B-lender, and private 2nd mortgage?
And how do I include more income on my application? We dive into this and more. Have a listen to the episode to find out how to navigate the self-employed mortgage market.
