Episode 28 (Nov 1) - Insider Secrets & The Alternative Lending Universe with special guest Stephanie Barritt, mortgage broker extraordinaire

Our first guest returns!

She's well spoken. She knows her stuff.

Stephanie Barritt - Mortgage Architects

AskSteph.ca

Contact Steph for help with new mortgages or refinancing. She's mobile (serving all of Metro Vancouver), and on site at our office in New Westminster as well as our sister office in Coquitlam. 

10:30 - News

Bank of Canada ("BoC") announced a rate increase. Stephanie helps us understand the impact. Should you lock in if you have a variable rate mortgage? 

19:28 - Discussion

Stephanie sheds light on the growing trend of "Alternative Lending" also referred to as "B Lending" and "Shadow Lending." It's an option that opens up opportunities for a short term mortgage until a borrowers' situation gets in line with current "A Lenders'" mortgage requirements.

38:24 - More mortgage broker insider secrets. Different lenders look at rental suite revenue in different ways and that could get you the house you really want.

46:30 - Question of the Week

How is the penalty calculated to get out of a mortgage contract? Stephanie schools us on the penalty implications related to 'posted rates' that infer a 'discount' was provided and gets added to the penalty.

51:32 - Storytime

Stephanie has a mortgage horror story that hopefully won't become too common as market conditions change.

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Send your feedback and questions to feedback@morealestateshow.com

Look up the co-hosts at:

thenewwestguys.com (Matt Brabbins and Jeremy Rae)

realestatenewwest.com (Geoff McLennan)