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My Rates

6 Months 3.10%
1 Year 2.79%
2 Years 2.54%
3 Years 2.99%
4 Years 2.99%
5 Years 2.94%
7 Years 3.69%
10 Years 3.74%
6 Months Open 4.99%
1 Year Open 5.99%
*Rates subject to change and OAC
AGENT LICENSE ID
M12000957
BROKERAGE LICENSE ID
12060
Alan Gilman Broker

Alan Gilman

Broker


Phone:
Address:
800 Industrial Unit 9, Ottawa, Ontario

BROWSE

PARTNERS

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

Experienced Mortgage Professional 

Residential

Construction

Commercial

Investment Properties

Old Fashioned Work Ethic 

 

 PLEASE NOTE that all Mortgage Rates listed on this website reflect best available rates for the purchase of an owner occupied property with default Mortgage Insurance amortized over a 25 year period. In order to confirm what rate we can offer you; please reach out to me at your convenience and we can discuss. 

 

 


BLOG / NEWS Updates

Realtors Looking for New Business

Customer Story This deal was recently done by aTop Broker in Ottawa. The client was referred to her by a Real Estate Agent who was representing the client as a purchaser looking to buy an investment property. Client Details: 60 years old, retired receives minimal pension income with sporadic other income that is difficult to confirm. There was an approval at a conventional lender, but the conditions were not able to be met to verify income. Principal Residence (value $625k) no mortgage outstanding Purchasing an investment property for $210k Solution: Set up a Reverse Mortgage with a limit of $210K, fully advanced to finance the purchase of the condo. She was able to leave her investment portfolio to continue to grow. She is generating some additional investment income, as well as having an asset that continues to appreciate The accruing interest on her Reverse Mortgage is tax deductible as it is being used for investment purposes. Outcome: Client increased cash flow, leveraged her assets without collapsing investment to purchase an income generating and appreciating asset. Real Estate Agent satisfied client, sold a property, partner referral Mortgage Broker new client, commission, helped a referral partner with their business retention

Debt Service Ratios - Easy to Understand

Debt Servicing Ratios are a big part of how a lender determines how much money you will qualify to borrow. Debt Servicing Ratios are split into two categories: GDS - Gross Debt Service refers to housing costs only. TDS - Total Debt Service = housing costs + other debt payments. ___________________________________________ IMPORTANT There is often little correlation between the amount of income we can use on your application and what your actual income is unless you are on a fixed salary or pension. Monthly Mortgage Payments and Minimum Debt Servicing Payments are also determined by lending guidelines and are not based on actual numbers when it comes to determining how much you will qualify to borrow. ___________________________________________ NEW REALITY It is quite common for buyers to struggle with the gap that exists between what they consider affordable and what the bank considers affordable. The issue come downs to the fact that the buyer knows what they can afford, but the lender (bound by guidelines and policy) disagrees. If the buyer hits this wall, they will need explanations, information, and guidance to keep everything moving forward. As a broker, my approach is to try and close (as much of) the gap that exists between the buyers expectations and the lenders thru my access to multiple financial institutions programs. As we enter 2018, an increased amount of time is needed to secure financing in a great number of instances. The financing process has become increasingly challenging and is often frustrating for everyone involved in the transaction. As a Mortgage Broker, I am representing both the client and lender in the transaction, and both sides need to be comfortable or the financing simply doesnt get done.

MY LENDERS

TD Bank Scotia Bank First National B2B Bank Home Trust
MCAP Merix Industrial Alliance Optimum Canadiana Financial
Equitable Bank ICICI Bank Fisgard Capital  RMG Mortgages Street Capital