Chris Landry VERICO Paragon Mortgage Group – Mortgage Broker Vancouver, BC

Chris Landry VERICO Paragon Mortgage Group – http://www.chrislandry.ca – Chris Landry VERICO Paragon Mortgage Group – Mortgage Broker Vancouver, BC

Give Chris Landry a call if you need mortgage help or advice in the Vancouver, BC area. As one of the top mortgage brokers in the country, Chris Landry should be your “go to” guy for mortgage information! Get the best mortgage rates available in Canada by contacting Chris Landry today.

Chris Landry
VERICO Paragon Mortgage Group
227-5589 Byrne Road
Burnaby, British Columbia
(604) 838-6725

Chris Landry Discusses the 8 Steps on Qualifying for a Mortgage even with Bad Credit:

If you’re applying for a mortgage, the first thing that the lender will look up on your background is your credit history. Having a bad or low credit score will affect your ability to acquire a mortgage because lenders might consider it a risk to loan you some money for your home. In these times, obtaining a mortgage can be a difficult process because of the struggling economy and the number of foreclosures in the housing market. But then even with the bad credit and all, it is still possible for you to obtain a mortgage and purchase your home. You just need to improve your credit score and prove that you are an acceptable lending risk.

1. You should check your credit report. Make sure that every data in the report is accurate before applying for a mortgage. If you see that there are some errors in it, notify your credit company right away and provide necessary documentations to support your update.

2. If you qualify for a mortgage with a bad credit then you should expect to pay more for it. Just prepare yourself that you’ll be paying a higher interest rate or an Adjustable Rate Mortgage (ARM), which means that the interest rate changes from time to time.

3. Show the mortgage broker that you have a steady income. Prove to the broker that your job has a great pay that can actually cover your mortgage. This will surely increase your chances of getting a mortgage even with a bad credit.

4. Pay off other debts if possible. If your debt is higher than your income ratio then you will have a hard time applying for mortgage especially with a bad credit. Make sure you eliminate your remaining credits and debts so that you can increase your chances of qualifying for a mortgage.

5. Since you are required to make a down payment for your mortgage, it would be best to put in as much money as you can. This will give off the impression that you’re making a serious investment for your home and you have a greater chance of paying the mortgage.

6. You need to write down some explanations to your lender why you have accumulated some bad credits. State your reasons why you are having problems paying your current bills. Reasons like paying for your medical bills, going through a divorce, etc. This will not excuse your bad credit but it might make the lender show compassion towards you.

7. You can also seek help from various government programs. These programs might include Federal Housing Administration (FHA) loan and Veteran’s Administration (VA) loan. These programs have flexible credit requirements so you need to consider them if possible.

8. You can always ask help from someone with a good credit to co-sign for you. Someone like your parents or relatives can probably help you out in applying for a mortgage. Just remember that if something happens to your mortgage payments, your cosigner will be held responsible for your actions. It can be too much to ask so it’s important that you do your part to commit to the payment.

Source:
http://www.vanouversfinest.com/chris-landry-discusses-the-8-steps-on-qualifying-for-a-mortgage-even-with-bad-credit/

Link to this video:

Chris Landry VERICO Paragon Mortgage Group – Mortgage Broker Vancouver, BC

Chris Landry Mortgage Specialist in Vancouver, BC

http://www.chrislandry.ca – Chris Landry Mortgage Specialist in Vancouver, BC

Note from Chris Landry:
My goal is to assist you in finding the right mortgage. I can help you save time and money by placing you in a mortgage product tailored to your specific needs.

My clients are always my top priority and I will always do my very best to place my customers into a mortgage product that is both safe and affordable for them whether they are buying a new home or refinancing their existing home.

I have been a Mortgage Broker for over 14 years and have consistently been a Top Producer in the industry. I have been awarded Paragon of Sales for the past 9 years straight (Top National Award). This is awarded only to the top mortgage brokers in Canada. This success has been driven by my commitment to my clients.

I strive to provide the best level of service to my customers and owe my success to them. I provide objective advice on all products and will work to get you the lowest possible interest rates. Your success is my success!
Mortgage rates change everyday so to ensure you get the most current rates, contact me and I will start working for you today.

I look forward to working with you!

Link to Chris Landry’s Channel:
http://www.youtube.com/user/ChrisLandryMortgage

CHRIS LANDRY
Senior Mortgage Advisor
Phone: 604-838-6725

Link to this video from Chris:

Chris Landry Mortgage Specialist in Vancouver, BC

A Day in the Life of Chris Landry – Subway Intervention

Chris Landry and Chase Lett venture out into NYC’s Subway and catch a glimpse of New Yorks talent