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Archive for the ‘Mythbusting Mortgages’ Category

Mythbusting Mortgages 4 – Tricky Bank Advertising Techniques

Friday, February 11th, 2011

Transcript of Video Blog:
Hi everyone. It’s Rowan Smith at the Mortgage Center. I want to address one of the most common myths that I receive questions about. That’s when a client goes into their bank and is told that they are going to be given 2.2 on a five year mortgage. So 2.2 would be the interest rate. The client comes to me, “What can you do on a five year fixed interest rate?” I say, “3.59 or 3.69.” They go, “Wow, well my bank is offering 2.2.”

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Mythbusting Mortgages 3 – My Bank Will Finance a Former Grow Op!

Friday, January 14th, 2011

Transcript of Video Blog:

Hey everyone! Rowan Smith at the Mortgage Centre. This week we’re doing Myth busting No. 3. This week’s myth is the old: “My bank did a former grow op property for me before so they will again.” That’s not necessarily the case. The industry hasn’t had this problem for that many years, at least not that they’ve been aware of. Properties now being branded as a former grow op in the property condition disclosure statement or in some places even on title has caused lenders to re think how their lending policies are when it comes to former grow ops. They don’t even say why, but what’s changed?

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Mythbusting Mortgages 2 – 35% Down? Who Needs a Job?

Tuesday, January 11th, 2011

Transcript of Video Blog:

Hi everybody! It’s Rowan Smith with the Mortgage Centre. We’re doing Myth busting #2 here and another one I want to address is the myth that if you have 35% down you don’t even need a job. That is patently incorrect!

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