(5501,1,'2017-11-20 22:20:38','2017-11-20 22:20:38','<h1><span style=\"color: #e66a1e;\">Durham Mortgage Broker Serving Ontario</span></h1>\r\n<div class=\"service-slideshow-content\">\r\n\r\n<span style=\"color: #808080;\">My name is Steve White and I’m a licensed mortgage agent with Mortgage Alliance – your Durham Mortgage Broker.</span>\r\n\r\n<span style=\"color: #808080;\">I help ensure everyday Canadians have the best possible mortgage, with the best possible rates and terms. I proudly do my best to keep more money in my client’s pockets and out of the bank’s coffers.</span>\r\n\r\n<span style=\"color: #808080;\">As a <strong>Durham Mortgage Broker</strong>, I work with over 60 mortgage lenders, including your own bank. We’re able to use our credibility and experience to get the best mortgage terms and rates to suit your needs and situation</span>\r\n\r\n<span style=\"color: #808080;\"> A good mortgage broker can help plan your mortgage around your long term goals, as well as short term life events – from helping pay for your child’s college/university, catching up on retirement savings to being mortgage free sooner.</span>\r\n<span style=\"color: #808080;\"> </span>\r\n<span style=\"color: #808080;\">Mortgage agents are there to help from before you even start to house shop, through packaging your financials, finding the right lender with the best rates/terms, overseeing the appraisal values and inspections, ensuring you’re not overbidding, checking in with your Realtor and lawyer and keeping all the financials running smoothly until you receive your keys.</span>\r\n\r\n</div>\r\n<span style=\"color: #808080;\">With interest rates at an all-time low, now is the ideal time to review your current mortgage and see if there’s a better deal out there. Even if you have several years left on your existing mortgage, I can help review your options to keep more money in your pocket.</span>\r\n\r\n<span style=\"color: #808080;\">Don’t sign your mortgage renewal without seeing what other options are out there. Most often there’s a better deal out there giving you better terms or lower rates. It’s worth an hour or two of your time to potentially save yourself and your family thousands of dollars a year.</span>\r\n\r\n<span style=\"color: #808080;\">Contact me to help find a solution to mounting debts before they damage your credit for years. I can help avoid power of sale, reduce your debt payments or find temporary funds to ease the pressure.</span>\r\n\r\n<span style=\"color: #808080;\">Before you head out shopping for your dream home, let me ensure you’re in the best possible financial position to make an offer.</span>\r\n\r\n<span style=\"color: #808080;\">Apply for a mortgage here - <a href=\"https://www.mortgageboss.ca/leadgeneration/add_lead.aspx?Agent_ID=11879\" target=\"_blank\" rel=\"noopener\">Mortgage Broker Application</a></span>','Durham Mortgage Broker Serving Ajax, Pickering, Whitby, Oshawa, Bowmanville','','inherit','closed','closed','','4547-revision-v1','','','2017-11-20 22:20:38','2017-11-20 22:20:38','',4547,'https://www.stevewhitemortgages.ca/2017/11/4547-revision-v1/',0,'revision','',0),(5503,1,'2017-11-20 22:24:18','2017-11-20 22:24:18','','front6b','','inherit','closed','closed','','front6b','','','2017-11-20 22:24:18','2017-11-20 22:24:18','',4547,'https://www.stevewhitemortgages.ca/wp-content/uploads/2017/11/front6b.jpg',0,'attachment','image/jpeg',0),(5504,1,'2017-11-22 14:58:05','2017-11-22 14:58:05','Durham region mortgage broker steve white uses mortgage interest to support community organizations','mortgages doing good','Durham region mortgage broker steve white','inherit','closed','closed','','charityheader','','','2017-11-22 14:59:05','2017-11-22 14:59:05','',5026,'https://www.stevewhitemortgages.ca/wp-content/uploads/2017/11/charityheader.jpg',0,'attachment','image/jpeg',0),(5505,1,'2017-11-22 15:11:25','2017-11-22 15:11:25','','charity donation','mortgages doing good using mortgages to support community charities','inherit','closed','closed','','charityheader2','','','2017-11-22 15:12:27','2017-11-22 15:12:27','',5026,'https://www.stevewhitemortgages.ca/wp-content/uploads/2017/11/charityheader2.jpg',0,'attachment','image/jpeg',0),(5506,1,'2017-11-22 15:19:23','2017-11-22 15:19:23','','Charity','','inherit','closed','closed','','5026-revision-v1','','','2017-11-22 15:19:23','2017-11-22 15:19:23','',5026,'https://www.stevewhitemortgages.ca/2017/11/5026-revision-v1/',0,'revision','',0),(5507,1,'2017-11-22 15:29:45','2017-11-22 15:29:45','','ladybird','','inherit','closed','closed','','ladybird','','','2017-11-22 15:29:45','2017-11-22 15:29:45','',5026,'https://www.stevewhitemortgages.ca/wp-content/uploads/2017/11/ladybird.jpg',0,'attachment','image/jpeg',0),(5508,1,'2017-11-22 15:31:37','2017-11-22 15:31:37','','hbspca','','inherit','closed','closed','','hbspca-2','','','2017-11-22 15:31:37','2017-11-22 15:31:37','',5026,'https://www.stevewhitemortgages.ca/wp-content/uploads/2017/11/hbspca.jpg',0,'attachment','image/jpeg',0),(5509,1,'2017-11-22 15:32:18','2017-11-22 15:32:18','','Charity','','inherit','closed','closed','','5026-revision-v1','','','2017-11-22 15:32:18','2017-11-22 15:32:18','',5026,'https://www.stevewhitemortgages.ca/2017/11/5026-revision-v1/',0,'revision','',0),(5510,1,'2017-11-22 17:37:08','2017-11-22 17:37:08','Steve White Mortgage Broker','SWMAClogo5','Steve White Mortgage Alliance agent service Durham Region, GTA, Toronto, Ontario, Ottawa, Belleville, Kingston','inherit','closed','closed','','swmaclogo5','','','2017-11-22 17:37:56','2017-11-22 17:37:56','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2017/11/SWMAClogo5.png',0,'attachment','image/png',0),(5511,1,'2017-11-26 21:58:19','2017-11-26 21:58:19','<p class=\"p1\">If you’re seeing all the Instagram, Twitter, Facebook and article posts that I am, you’re probably wondering - \'With the new mortgage rules coming Jan. 1st will the Canadian real estate market drop?\'</p>\r\n<p class=\"p1\">It’s an easy thought to creep in considering the number being tossed around a lot is that under the <a href=\"http://www.osfi-bsif.gc.ca/Eng/fi-if/rg-ro/gdn-ort/gl-ld/Pages/b20_dft.aspx\">new B-20 stress test</a> coming a homebuyer who could afford $600,000 now will only be able to afford $480,000 after January 1st. That’s about a 20% loss in buying power which would mean a drop in house prices.</p>\r\n<p class=\"p1\">The problem with that calculation is that it makes several assumptions, the first being that the mortgage industry will sit back and shrug off a 20% drop. The second assumption is that home buyers will be applying for mortgage the same way they have in the past.</p>\r\n<p class=\"p1\"><strong>Let’s look at the first assumption</strong>. The mortgage industry is looking at a potential drop of 20% in mortgage volume - a combination in the number of mortgage they do and the mortgage amounts clients can afford.</p>\r\n<p class=\"p1\">Knowing this change was coming I’ve spent the last few months working with lenders to ensure they have solutions available for my clients for after January. I’m already seeing mortgage lenders making small and quiet adjustments to ensure they can meet the changes.</p>\r\n<p class=\"p1\">For example - adjusting their debt coverage. Lenders generally want borrowers to use no more than 42% of their income to service their debts (mortgage, car loans, credit cards, student loans, child support etc). Some lenders are looking at increasing that amount to 46 and as high as 48%.</p>\r\n<p class=\"p1\">By increasing how much of a borrower’s income can go to debt, lenders are able to balance some loss of affordability by the new stress test.</p>\r\n[gdlr_quote align=\"center\" ]good mortgage brokers are going to need to work a little harder to find ways to ensure their clients can afford the house that suits their wants and needs.[/gdlr_quote]\r\n<p class=\"p1\">Another example - loosening their restrictions on income types. Many lenders want to see clients with steady salary income and have tight limits on what sort of additional income they’ll include in a borrower’s affordability. With the new stress test changes, lenders are likely going to loosen their restrictions on things like: tips, child tax benefits, occasional income from things like Uber, AirBnb etc.</p>\r\n<p class=\"p1\">This also likely means that lenders will need to keep rates relatively lower to avoid pricing themselves out of business. We were beginning to see interest rates move back towards pre-2009 levels, however with the new mortgage rules lenders will need to keep them close to where they’re at for the time being.</p>\r\n<p class=\"p1\">At the same time, good mortgage brokers are going to need to work a little harder to find ways to ensure their clients can afford the house that suits their wants and needs. Reducing student loan payments, using some down payments funds to pay out leases or debts, for example can add tens of thousands of dollars to the amount a client qualifies for.</p>\r\n<p class=\"p1\"><strong>In the second assumption</strong>, we’re going to begin seeing changes in the way clients buy houses.</p>\r\n<p class=\"p1\">We’re already beginning to see a trend emerging where more parents and grandparents co-sign mortgages to help the younger generation get into a home with increasing home prices.</p>\r\n<p class=\"p1\">That’s a trend we’re likely to see increase as families come together to help each other qualify for a mortgage. That will include both moving in together to cover and simply co-signing on the mortgage. In the past this began to emerge when the prices and bidding wars got out of hand, moving forward with the new mortgage rules it will be a solution to deal with the stress test.</p>\r\n<p class=\"p1\">It’s important to remember that the purpose of the government imposed new mortgage rules is to try and ensure homeowners don’t over extend themselves and buy a house that they won’t be able to afford in 5 years when the interest rates are higher.</p>\r\n<p class=\"p1\">Homeowners and buyers should understand that the change isn’t going to chop 20% of the value off their houses. The market will adjust to the changes and will fall into a more predictable pattern and we’re likely going to see the end of 18-20% yearly appreciation in hot markets.</p>\r\n<p class=\"p1\">So don\'t panic - the key to getting the home and mortgage you want is to work with a professional mortgage broker who understands all your options, can safely navigate the new rule changes and has access to the best lenders and their best mortgage programs.</p>\r\nIf you\'d like to discuss buying a home or refinancing/renegotiating your mortgage you can <a href=\"https://www.stevewhitemortgages.ca/contact-page\">contact me</a> at any time - 905.903.4799 or <a href=\"mailto:Steve@SteveWhiteMortgages.ca\">Steve@SteveWhiteMortgages.ca</a>','Why You Shouldn’t Panic Over The New Mortgage Rules','','publish','closed','open','','shouldnt-panic-new-mortgage-rules','','','2017-11-26 21:58:19','2017-11-26 21:58:19','',0,'https://www.stevewhitemortgages.ca/?p=5511',0,'post','',0),(5512,1,'2017-11-26 21:05:03','2017-11-26 21:05:03','<p class=\"p1\">If you’re seeing all the Instagram, Facebook and article posts that I am, you’re probably wondering - \'With the new mortgage rules coming Jan. 1st will the Canadian real estate market drop?\'</p>\r\n<p class=\"p1\">It’s an easy thought to creep in considering the number being tossed around a lot is that under the new B-20 stress test coming a homebuyer who could afford $600,000 now will only be able to afford $480,000 after January 1st. That’s about a 20% loss in buying power which would mean a drop in house prices.</p>\r\n<p class=\"p1\">The problem with that calculation is that it makes several assumptions, the first being that the mortgage industry will sit back and shrug off a 20% drop. The second assumption is that home buyers will be applying for mortgage the same way they have in the past.</p>\r\n<p class=\"p1\"><strong>Let’s look at the first assumption</strong>. The mortgage industry is looking at a potential drop of 20% in mortgage volume - a combination in the number of mortgage they do and the mortgage amounts clients can afford.</p>\r\n<p class=\"p1\">Knowing this change was coming I’ve spent the last few months working with lenders to ensure they have solutions available for my clients for after January. I’m already seeing mortgage lenders making small and quiet adjustments to ensure they can meet the changes.</p>\r\n<p class=\"p1\">For example - adjusting their debt coverage. Lenders generally want borrowers to use no more than 42% of their income to service their debts (mortgage, car loans, credit cards, student loans, child support etc). Some lenders are looking at increasing that amount to 46 and as high as 48%.</p>\r\n<p class=\"p1\">By increasing how much of a borrower’s income can go to debt, lenders are able to balance some loss of affordability by the new stress test.</p>\r\n[gdlr_quote align=\"center\" ]good mortgage brokers are going to need to work a little harder to find ways to ensure their clients can afford the house that suits their wants and needs.[/gdlr_quote]\r\n<p class=\"p1\">Another example - loosening their restrictions on income types. Many lenders want to see clients with steady salary income and have tight limits on what sort of additional income they’ll include in a borrower’s affordability. With the new stress test changes, lenders are likely going to loosen their restrictions on things like: tips, child tax benefits, occasional income from things like Uber, AirBnb etc.</p>\r\n<p class=\"p1\">This also likely means that lenders will need to keep rates relatively lower to avoid pricing themselves out of business. We were beginning to see interest rates move back towards pre-2009 levels, however with the new mortgage rules lenders will need to keep them close to where they’re at for the time being.</p>\r\n<p class=\"p1\">At the same time, good mortgage brokers are going to need to work a little harder to find ways to ensure their clients can afford the house that suits their wants and needs. Reducing student loan payments, using some down payments funds to pay out leases or debts, for example can add tens of thousands of dollars to the amount a client qualifies for.</p>\r\n<p class=\"p1\"><strong>In the second assumption</strong>, we’re going to begin seeing changes in the way clients buy houses.</p>\r\n<p class=\"p1\">We’re already beginning to see a trend emerging where more parents and grandparents co-sign mortgages to help the younger generation get into a home with increasing home prices.</p>\r\n<p class=\"p1\">That’s a trend we’re likely to see increase as families come together to help each other qualify for a mortgage. That will include both moving in together to cover and simply co-signing on the mortgage. In the past this began to emerge when the prices and bidding wars got out of hand, moving forward it will be a solution to deal with the stress test.</p>\r\n<p class=\"p1\">It’s important to remember that the purpose of the government imposed new mortgage rules is to try and ensure homeowners don’t over extend themselves and buy a house that they won’t be able to afford in 5 years when the interest rates are higher.</p>\r\n<p class=\"p1\">Homeowners and buyers should understand that the change isn’t going to chop 20% of the value off their houses. The market will adjust to the changes and will fall into a more predictable pattern and we’re likely going to see the end of 18-20% yearly appreciation in hot markets.</p>\r\n<p class=\"p1\">The key to getting the home and mortgage you want is to work with a professional mortgage broker who understands all your options, can safely navigate the new rule changes and has access to the best lenders and their best mortgage programs.</p>','Why You Shouldn’t Freak Out Over The New Mortgage Rules','','inherit','closed','closed','','5511-revision-v1','','','2017-11-26 21:05:03','2017-11-26 21:05:03','',5511,'https://www.stevewhitemortgages.ca/2017/11/5511-revision-v1/',0,'revision','',0),(5513,1,'2017-11-26 21:55:54','2017-11-26 21:55:54','steve white mortgage broker durham toronto ontario','new mortgage rules','why you shouldn\'t panic over the new mortgage rules','inherit','closed','closed','','newrules','','','2017-11-26 21:56:30','2017-11-26 21:56:30','',5511,'https://www.stevewhitemortgages.ca/wp-content/uploads/2017/11/newrules.jpg',0,'attachment','image/jpeg',0),(5514,1,'2017-11-26 21:56:37','2017-11-26 21:56:37','<p class=\"p1\">If you’re seeing all the Instagram, Twitter, Facebook and article posts that I am, you’re probably wondering - \'With the new mortgage rules coming Jan. 1st will the Canadian real estate market drop?\'</p>\r\n<p class=\"p1\">It’s an easy thought to creep in considering the number being tossed around a lot is that under the <a href=\"http://www.osfi-bsif.gc.ca/Eng/fi-if/rg-ro/gdn-ort/gl-ld/Pages/b20_dft.aspx\">new B-20 stress test</a> coming a homebuyer who could afford $600,000 now will only be able to afford $480,000 after January 1st. That’s about a 20% loss in buying power which would mean a drop in house prices.</p>\r\n<p class=\"p1\">The problem with that calculation is that it makes several assumptions, the first being that the mortgage industry will sit back and shrug off a 20% drop. The second assumption is that home buyers will be applying for mortgage the same way they have in the past.</p>\r\n<p class=\"p1\"><strong>Let’s look at the first assumption</strong>. The mortgage industry is looking at a potential drop of 20% in mortgage volume - a combination in the number of mortgage they do and the mortgage amounts clients can afford.</p>\r\n<p class=\"p1\">Knowing this change was coming I’ve spent the last few months working with lenders to ensure they have solutions available for my clients for after January. I’m already seeing mortgage lenders making small and quiet adjustments to ensure they can meet the changes.</p>\r\n<p class=\"p1\">For example - adjusting their debt coverage. Lenders generally want borrowers to use no more than 42% of their income to service their debts (mortgage, car loans, credit cards, student loans, child support etc). Some lenders are looking at increasing that amount to 46 and as high as 48%.</p>\r\n<p class=\"p1\">By increasing how much of a borrower’s income can go to debt, lenders are able to balance some loss of affordability by the new stress test.</p>\r\n[gdlr_quote align=\"center\" ]good mortgage brokers are going to need to work a little harder to find ways to ensure their clients can afford the house that suits their wants and needs.[/gdlr_quote]\r\n<p class=\"p1\">Another example - loosening their restrictions on income types. Many lenders want to see clients with steady salary income and have tight limits on what sort of additional income they’ll include in a borrower’s affordability. With the new stress test changes, lenders are likely going to loosen their restrictions on things like: tips, child tax benefits, occasional income from things like Uber, AirBnb etc.</p>\r\n<p class=\"p1\">This also likely means that lenders will need to keep rates relatively lower to avoid pricing themselves out of business. We were beginning to see interest rates move back towards pre-2009 levels, however with the new mortgage rules lenders will need to keep them close to where they’re at for the time being.</p>\r\n<p class=\"p1\">At the same time, good mortgage brokers are going to need to work a little harder to find ways to ensure their clients can afford the house that suits their wants and needs. Reducing student loan payments, using some down payments funds to pay out leases or debts, for example can add tens of thousands of dollars to the amount a client qualifies for.</p>\r\n<p class=\"p1\"><strong>In the second assumption</strong>, we’re going to begin seeing changes in the way clients buy houses.</p>\r\n<p class=\"p1\">We’re already beginning to see a trend emerging where more parents and grandparents co-sign mortgages to help the younger generation get into a home with increasing home prices.</p>\r\n<p class=\"p1\">That’s a trend we’re likely to see increase as families come together to help each other qualify for a mortgage. That will include both moving in together to cover and simply co-signing on the mortgage. In the past this began to emerge when the prices and bidding wars got out of hand, moving forward with the new mortgage rules it will be a solution to deal with the stress test.</p>\r\n<p class=\"p1\">It’s important to remember that the purpose of the government imposed new mortgage rules is to try and ensure homeowners don’t over extend themselves and buy a house that they won’t be able to afford in 5 years when the interest rates are higher.</p>\r\n<p class=\"p1\">Homeowners and buyers should understand that the change isn’t going to chop 20% of the value off their houses. The market will adjust to the changes and will fall into a more predictable pattern and we’re likely going to see the end of 18-20% yearly appreciation in hot markets.</p>\r\n<p class=\"p1\">So don\'t panic - the key to getting the home and mortgage you want is to work with a professional mortgage broker who understands all your options, can safely navigate the new rule changes and has access to the best lenders and their best mortgage programs.</p>\r\nIf you\'d like to discuss buying a home or refinancing/renegotiating your mortgage you can <a href=\"https://www.stevewhitemortgages.ca/contact-page\">contact me</a> at any time - 905.903.4799 or <a href=\"mailto:Steve@SteveWhiteMortgages.ca\">Steve@SteveWhiteMortgages.ca</a>','Why You Shouldn’t Panic Over The New Mortgage Rules','','inherit','closed','closed','','5511-revision-v1','','','2017-11-26 21:56:37','2017-11-26 21:56:37','',5511,'https://www.stevewhitemortgages.ca/2017/11/5511-revision-v1/',0,'revision','',0),(5516,1,'2017-11-30 18:56:53','2017-11-30 18:56:53','','Charity','','inherit','closed','closed','','5026-revision-v1','','','2017-11-30 18:56:53','2017-11-30 18:56:53','',5026,'https://www.stevewhitemortgages.ca/2017/11/5026-revision-v1/',0,'revision','',0),(5517,1,'2017-11-30 19:04:18','2017-11-30 19:04:18','','Charity','','inherit','closed','closed','','5026-revision-v1','','','2017-11-30 19:04:18','2017-11-30 19:04:18','',5026,'https://www.stevewhitemortgages.ca/2017/11/5026-revision-v1/',0,'revision','',0),(5518,1,'2017-12-01 22:13:49','2017-12-01 22:13:49','','Careers','','inherit','closed','closed','','4327-autosave-v1','','','2017-12-01 22:13:49','2017-12-01 22:13:49','',4327,'https://www.stevewhitemortgages.ca/2017/12/4327-autosave-v1/',0,'revision','',0),(5519,1,'2017-12-01 22:14:54','2017-12-01 22:14:54','<div class=\"clear\"></div>\r\n<div class=\"clear\"></div>\r\n<div class=\"clear\"></div>\r\n<div class=\"clear\"></div>\r\n<section id=\"content-section-5\">\r\n<div class=\"gdlr-color-wrapper gdlr-show-all no-skin\" style=\"background-color: #f9f9f9;\">\r\n<div class=\"container\">\r\n<div class=\"gdlr-item gdlr-content-item\">\r\n<h1 class=\"quick-approval\" style=\"text-align: center;\"><span style=\"color: #d15706;\">Let\'s Get Started:</span></h1>\r\n<div class=\"clear\"></div>\r\n<div class=\"gdlr-space\" style=\"margin-top: 22px;\"></div>\r\n<div id=\"wpcf7-f5355-o1\" class=\"wpcf7\" dir=\"ltr\" lang=\"en-US\" role=\"form\">\r\n<div class=\"screen-reader-response\"></div>\r\n<form class=\"wpcf7-form\" action=\"/#wpcf7-f5355-o1\" method=\"post\" novalidate=\"novalidate\">\r\n<div style=\"display: none;\"><input name=\"_wpcf7\" type=\"hidden\" value=\"5355\" />\r\n<input name=\"_wpcf7_version\" type=\"hidden\" value=\"4.8\" />\r\n<input name=\"_wpcf7_locale\" type=\"hidden\" value=\"en_US\" />\r\n<input name=\"_wpcf7_unit_tag\" type=\"hidden\" value=\"wpcf7-f5355-o1\" />\r\n<input name=\"_wpcf7_container_post\" type=\"hidden\" value=\"0\" />\r\n<input name=\"_wpcf7_nonce\" type=\"hidden\" value=\"232ce4fa41\" /></div>\r\n<div class=\"gdlr-shortcode-wrapper gdlr-row-shortcode\">\r\n<div class=\"six columns\">\r\n<div class=\"gdlr-item\"><label> Your Name (required)\r\n<span class=\"wpcf7-form-control-wrap name-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" name=\"name-approval\" size=\"40\" type=\"text\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label>\r\n<label> Your Email (required)\r\n<span class=\"wpcf7-form-control-wrap email-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-email wpcf7-validates-as-required wpcf7-validates-as-email\" name=\"email-approval\" size=\"40\" type=\"email\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label>\r\n<label> Your Phone Number (required)\r\n<span class=\"wpcf7-form-control-wrap phone-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" name=\"phone-approval\" size=\"40\" type=\"text\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label></div>\r\n</div>\r\n<div class=\"six columns\">\r\n<div class=\"gdlr-item\"><label class=\"hide-label\"> Your Name (required)</label>\r\n<span class=\"wpcf7-form-control-wrap menu-346\"><select class=\"wpcf7-form-control wpcf7-select wpcf7-validates-as-required\" name=\"menu-346\" aria-required=\"true\" aria-invalid=\"false\">\r\n<option value=\"I\'m interested In:\">I\'m interested In:</option>\r\n<option value=\"- Purchasing a home\">- Purchasing a home</option>\r\n<option value=\"- Refinancing my home\">- Refinancing my home</option>\r\n<option value=\"- Renewing my mortgage\">- Renewing my mortgage</option>\r\n<option value=\"- Purchasing an investment property\">- Purchasing an investment property</option>\r\n<option value=\"- Consolidate debt\">- Consolidate debt</option>\r\n</select></span>\r\n<label class=\"hide-label\"> Your Email (required)</label>\r\n<span class=\"wpcf7-form-control-wrap menu-452\"><select class=\"wpcf7-form-control wpcf7-select wpcf7-validates-as-required\" name=\"menu-452\" aria-required=\"true\" aria-invalid=\"false\">\r\n<option value=\"Employment:\">Employment:</option>\r\n<option value=\"- Full time permanent\">- Full time permanent</option>\r\n<option value=\"- Part time/contract\">- Part time/contract</option>\r\n<option value=\"- Self employed\">- Self employed</option>\r\n<option value=\"- Retired\">- Retired</option>\r\n</select></span>\r\n<label class=\"hide-label\"> Your Phone Number (required)</label>\r\n<span class=\"wpcf7-form-control-wrap menu-127\"><select class=\"wpcf7-form-control wpcf7-select\" name=\"menu-127\" aria-invalid=\"false\">\r\n<option value=\"Credit Score:\">Credit Score:</option>\r\n<option value=\"- Excellent (700+)\">- Excellent (700+)</option>\r\n<option value=\"- Good (640+)\">- Good (640+)</option>\r\n<option value=\"- Bruised (580+)\">- Bruised (580+)</option>\r\n<option value=\"- Other (Not sure)\">- Other (Not sure)</option>\r\n</select></span></div>\r\n</div>\r\n<div id=\"wpcf7-from\" class=\"twelve columns\"><input class=\"wpcf7-form-control wpcf7-submit\" type=\"submit\" value=\"Send\" /></div>\r\n<div class=\"clear\"></div>\r\n</div>\r\n<div class=\"wpcf7-response-output wpcf7-display-none\"></div>\r\n</form></div>\r\n</div>\r\n<div class=\"clear\"></div>\r\n<div class=\"clear\"></div>\r\n</div>\r\n</div>\r\n</section><section id=\"content-section-7\"></section>','KijijiLanding','','inherit','closed','closed','','5398-autosave-v1','','','2017-12-01 22:14:54','2017-12-01 22:14:54','',5398,'https://www.stevewhitemortgages.ca/2017/12/5398-autosave-v1/',0,'revision','',0),(5520,1,'2017-12-01 22:21:07','2017-12-01 22:21:07','','Landing Page','','inherit','closed','closed','','4991-autosave-v1','','','2017-12-01 22:21:07','2017-12-01 22:21:07','',4991,'https://www.stevewhitemortgages.ca/2017/12/4991-autosave-v1/',0,'revision','',0),(5521,1,'2017-12-01 22:21:37','2017-12-01 22:21:37','','Personnel','','inherit','closed','closed','','4702-autosave-v1','','','2017-12-01 22:21:37','2017-12-01 22:21:37','',4702,'https://www.stevewhitemortgages.ca/2017/12/4702-autosave-v1/',0,'revision','',0),(5522,1,'2017-12-01 22:24:12','2017-12-01 22:24:12','','Contact Page 2','','inherit','closed','closed','','1631-autosave-v1','','','2017-12-01 22:24:12','2017-12-01 22:24:12','',1631,'https://www.stevewhitemortgages.ca/2017/12/1631-autosave-v1/',0,'revision','',0),(5525,1,'2017-12-01 22:34:19','0000-00-00 00:00:00','<div class=\"clear\"></div>\n<div class=\"clear\"></div>\n<div class=\"clear\"></div>\n<div class=\"clear\"></div>\n<section id=\"content-section-5\">\n<div class=\"gdlr-color-wrapper gdlr-show-all no-skin\" style=\"background-color: #f9f9f9;\">\n<div class=\"container\">\n<div class=\"gdlr-item gdlr-content-item\">\n<h1 class=\"quick-approval\" style=\"text-align: center;\"><span style=\"color: #d15706;\">Did You Win?:</span></h1>\n<div class=\"clear\"></div>\n<div class=\"gdlr-space\" style=\"margin-top: 22px;\"></div>\n<div id=\"wpcf7-f5355-o1\" class=\"wpcf7\" dir=\"ltr\" lang=\"en-US\" role=\"form\">\n<div class=\"screen-reader-response\"></div>\n<form class=\"wpcf7-form\" action=\"/#wpcf7-f5355-o1\" method=\"post\" novalidate=\"novalidate\">\n<div style=\"display: none;\"><input name=\"_wpcf7\" type=\"hidden\" value=\"5355\" />\n<input name=\"_wpcf7_version\" type=\"hidden\" value=\"4.8\" />\n<input name=\"_wpcf7_locale\" type=\"hidden\" value=\"en_US\" />\n<input name=\"_wpcf7_unit_tag\" type=\"hidden\" value=\"wpcf7-f5355-o1\" />\n<input name=\"_wpcf7_container_post\" type=\"hidden\" value=\"0\" />\n<input name=\"_wpcf7_nonce\" type=\"hidden\" value=\"232ce4fa41\" /></div>\n<div class=\"gdlr-shortcode-wrapper gdlr-row-shortcode\">\n<div class=\"six columns\">\n<div class=\"gdlr-item\"><label> Your Name (required)\n<span class=\"wpcf7-form-control-wrap name-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" name=\"name-approval\" size=\"40\" type=\"text\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label>\n<label> Your Email (required)\n<span class=\"wpcf7-form-control-wrap email-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-email wpcf7-validates-as-required wpcf7-validates-as-email\" name=\"email-approval\" size=\"40\" type=\"email\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label>\n<label> Your Ticket Number (required)\n<span class=\"wpcf7-form-control-wrap phone-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" name=\"phone-approval\" size=\"40\" type=\"text\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label></div>\n</div>\n<div class=\"six columns\">\n<div class=\"gdlr-item\">\n<span class=\"wpcf7-form-control-wrap menu-127\">\n</span></div>\n</div>\n<div id=\"wpcf7-from\" class=\"twelve columns\"><input class=\"wpcf7-form-control wpcf7-submit\" type=\"submit\" value=\"Send\" /></div>\n<div class=\"clear\"></div>\n</div>\n<div class=\"wpcf7-response-output wpcf7-display-none\"></div>\n</form></div>\n</div>\n<div class=\"clear\">\n<div class=\"page\" title=\"Page 2\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<h6>Mortgage Alliance will keep in touch via electronic messaging during your transaction as permitted by the legislation! Mortgage Alliance also occasionally communicates with its database via electronic messages. The content provides insightful information on mortgages, finances, etc. I/We wish to be kept informed and consent to the receiving of these informative communications for the term of my/our mortgage. I/We can unsubscribe at any time.</h6>\n</div>\n</div>\n</div>\n</div>\n<div class=\"clear\"></div>\n</div>\n</div>\n</section><section id=\"content-section-7\"></section>','KijijiLanding','','draft','closed','closed','','','','','2017-12-01 22:34:19','2017-12-01 22:34:19','',0,'https://www.stevewhitemortgages.ca/?page_id=5525',0,'page','',0),(5527,1,'2017-12-01 23:25:17','2017-12-01 23:25:17','<div data-paperform-id=\"g4ctjnpe\"></div><script>(function() {var script = document.createElement(\'script\'); script.src = \"https://paperform.co/__embed\"; document.body.appendChild(script); })()</script>','GC','','publish','closed','closed','','gc','','','2017-12-01 23:25:17','2017-12-01 23:25:17','',0,'https://www.stevewhitemortgages.ca/?page_id=5527',0,'page','',0),(5526,1,'2017-12-01 22:33:21','2017-12-01 22:33:21','<div class=\"clear\"></div>\r\n<div class=\"clear\"></div>\r\n<div class=\"clear\"></div>\r\n<div class=\"clear\"></div>\r\n<section id=\"content-section-5\">\r\n<div class=\"gdlr-color-wrapper gdlr-show-all no-skin\" style=\"background-color: #f9f9f9;\">\r\n<div class=\"container\">\r\n<div class=\"gdlr-item gdlr-content-item\">\r\n<h1 class=\"quick-approval\" style=\"text-align: center;\"><span style=\"color: #d15706;\">Did You Win?:</span></h1>\r\n<div class=\"clear\"></div>\r\n<div class=\"gdlr-space\" style=\"margin-top: 22px;\"></div>\r\n<div id=\"wpcf7-f5355-o1\" class=\"wpcf7\" dir=\"ltr\" lang=\"en-US\" role=\"form\">\r\n<div class=\"screen-reader-response\"></div>\r\n<form class=\"wpcf7-form\" action=\"/#wpcf7-f5355-o1\" method=\"post\" novalidate=\"novalidate\">\r\n<div style=\"display: none;\"><input name=\"_wpcf7\" type=\"hidden\" value=\"5355\" />\r\n<input name=\"_wpcf7_version\" type=\"hidden\" value=\"4.8\" />\r\n<input name=\"_wpcf7_locale\" type=\"hidden\" value=\"en_US\" />\r\n<input name=\"_wpcf7_unit_tag\" type=\"hidden\" value=\"wpcf7-f5355-o1\" />\r\n<input name=\"_wpcf7_container_post\" type=\"hidden\" value=\"0\" />\r\n<input name=\"_wpcf7_nonce\" type=\"hidden\" value=\"232ce4fa41\" /></div>\r\n<div class=\"gdlr-shortcode-wrapper gdlr-row-shortcode\">\r\n<div class=\"six columns\">\r\n<div class=\"gdlr-item\"><label> Your Name (required)\r\n<span class=\"wpcf7-form-control-wrap name-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" name=\"name-approval\" size=\"40\" type=\"text\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label>\r\n<label> Your Email (required)\r\n<span class=\"wpcf7-form-control-wrap email-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-email wpcf7-validates-as-required wpcf7-validates-as-email\" name=\"email-approval\" size=\"40\" type=\"email\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label>\r\n<label> Your Ticket Number (required)\r\n<span class=\"wpcf7-form-control-wrap phone-approval\"><input class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" name=\"phone-approval\" size=\"40\" type=\"text\" value=\"\" aria-required=\"true\" aria-invalid=\"false\" /></span> </label></div>\r\n</div>\r\n<div class=\"six columns\">\r\n<div class=\"gdlr-item\">\r\n<span class=\"wpcf7-form-control-wrap menu-127\">\r\n</span></div>\r\n</div>\r\n<div id=\"wpcf7-from\" class=\"twelve columns\"><input class=\"wpcf7-form-control wpcf7-submit\" type=\"submit\" value=\"Send\" /></div>\r\n<div class=\"clear\"></div>\r\n</div>\r\n<div class=\"wpcf7-response-output wpcf7-display-none\"></div>\r\n</form></div>\r\n</div>\r\n<div class=\"clear\">\r\n<div class=\"page\" title=\"Page 2\">\r\n<div class=\"layoutArea\">\r\n<div class=\"column\">\r\n<h6>Mortgage Alliance will keep in touch via electronic messaging during your transaction as permitted by the legislation! Mortgage Alliance also occasionally communicates with its database via electronic messages. The content provides insightful information on mortgages, finances, etc. I/We wish to be kept informed and consent to the receiving of these informative communications for the term of my/our mortgage. I/We can unsubscribe at any time.</h6>\r\n</div>\r\n</div>\r\n</div>\r\n</div>\r\n<div class=\"clear\"></div>\r\n</div>\r\n</div>\r\n</section><section id=\"content-section-7\"></section>','KijijiLanding','','inherit','closed','closed','','5525-revision-v1','','','2017-12-01 22:33:21','2017-12-01 22:33:21','',5525,'https://www.stevewhitemortgages.ca/2017/12/5525-revision-v1/',0,'revision','',0),(5528,1,'2017-12-01 23:01:59','2017-12-01 23:01:59','&lt;div data-paperform-id=\"g4ctjnpe\"&gt;&lt;/div&gt;&lt;script&gt;(function() {var script = document.createElement(\'script\'); script.src = \"https://paperform.co/__embed\"; document.body.appendChild(script); })()&lt;/script&gt;','GC','','inherit','closed','closed','','5527-revision-v1','','','2017-12-01 23:01:59','2017-12-01 23:01:59','',5527,'https://www.stevewhitemortgages.ca/2017/12/5527-revision-v1/',0,'revision','',0),(5529,1,'2017-12-01 23:02:18','2017-12-01 23:02:18','<div data-paperform-id=\"g4ctjnpe\"></div><script>(function() {var script = document.createElement(\'script\'); script.src = \"https://paperform.co/__embed\"; document.body.appendChild(script); })()</script>','GC','','inherit','closed','closed','','5527-revision-v1','','','2017-12-01 23:02:18','2017-12-01 23:02:18','',5527,'https://www.stevewhitemortgages.ca/2017/12/5527-revision-v1/',0,'revision','',0),(5531,1,'2018-01-17 20:02:42','2018-01-17 20:02:42','','Book a Call','','publish','closed','closed','','book-a-call','','','2018-01-17 20:02:42','2018-01-17 20:02:42','',0,'https://www.stevewhitemortgages.ca/?p=5531',5,'nav_menu_item','',0),(5533,1,'2018-08-27 14:34:57','2018-08-27 14:34:57','','UpdatedWarner2','','inherit','closed','closed','','updatedwarner2','','','2018-08-27 14:34:57','2018-08-27 14:34:57','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/08/UpdatedWarner2.jpg',0,'attachment','image/jpeg',0),(5535,1,'2018-09-19 22:27:10','2018-09-19 22:27:10','','MaryWedding','','inherit','closed','closed','','marywedding','','','2018-09-19 22:27:10','2018-09-19 22:27:10','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/09/MaryWedding.jpg',0,'attachment','image/jpeg',0),(5537,1,'2018-10-09 13:20:47','2018-10-09 13:20:47','','thoover_TN','','inherit','closed','closed','','thoover_tn','','','2018-10-09 13:20:47','2018-10-09 13:20:47','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/10/thoover_TN.jpg',0,'attachment','image/jpeg',0),(5538,1,'2018-10-10 15:38:00','2018-10-10 15:38:00','','Armistice-Ad-for-Todays-N','','inherit','closed','closed','','armistice-ad-for-todays-n','','','2018-10-10 15:38:00','2018-10-10 15:38:00','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/10/Armistice-Ad-for-Todays-N.gif',0,'attachment','image/gif',0),(5539,1,'2018-10-12 17:49:10','2018-10-12 17:49:10','','EE_18x24_Sign','','inherit','closed','closed','','ee_18x24_sign','','','2018-10-12 17:49:10','2018-10-12 17:49:10','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/10/EmilyAd.jpg',0,'attachment','image/jpeg',0),(5541,1,'2018-10-22 19:52:53','2018-10-22 19:52:53','','homeloans','','inherit','closed','closed','','homeloans','','','2018-10-22 19:52:53','2018-10-22 19:52:53','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/10/homeloans.jpg',0,'attachment','image/jpeg',0),(5543,1,'2018-11-02 18:39:46','2018-11-02 18:39:46','','AffordThisAd2','','inherit','closed','closed','','affordthisad2','','','2018-11-02 18:39:46','2018-11-02 18:39:46','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/11/AffordThisAd2.jpg',0,'attachment','image/jpeg',0),(5544,1,'2018-11-02 18:41:18','2018-11-02 18:41:18','','AffordThisAd3','','inherit','closed','closed','','affordthisad3','','','2018-11-02 18:41:18','2018-11-02 18:41:18','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/11/AffordThisAd3.jpg',0,'attachment','image/jpeg',0),(5545,1,'2018-11-07 16:00:07','2018-11-07 16:00:07','','Screenshoterror','','inherit','closed','closed','','screenshoterror','','','2018-11-07 16:00:07','2018-11-07 16:00:07','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/11/Screenshoterror.pdf',0,'attachment','application/pdf',0),(5547,1,'2018-11-13 14:26:37','2018-11-13 14:26:37','','cashASAPad','','inherit','closed','closed','','cashasapad','','','2018-11-13 14:26:37','2018-11-13 14:26:37','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2018/11/cashASAPad.png',0,'attachment','image/png',0),(5549,1,'2019-01-10 23:12:45','2019-01-10 23:12:45','','IceSafety','','inherit','closed','closed','','icesafety','','','2019-01-10 23:12:45','2019-01-10 23:12:45','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/IceSafety.gif',0,'attachment','image/gif',0),(5550,1,'2019-01-14 16:19:43','2019-01-14 16:19:43','','Private Mortgages','Private Mortgages Steve White Mortgage Agent','inherit','closed','closed','','privatemortgages','','','2019-01-14 16:29:15','2019-01-14 16:29:15','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/PrivateMortgages.png',0,'attachment','image/png',0),(5551,1,'2019-01-14 16:32:41','2019-01-14 16:32:41','<!-- wp:paragraph -->\n<p>Private mortgages have seen a significant boom in recent years with 2018 being one of the largest spikes ever.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With the B20 stress test unveiled by the Office of the Superintendent of Financial Institutions at the end of December 2017, Canadians found themselves much more restricted on the amount they could borrow. In many cases buyers and borrowers were unable to access a mortgage at all from a traditional lender. The result for many was to turn to lenders who did not fall under the new stress test - credit unions and private lenders.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Credit unions, which are co-operatives owned by their members, saw a huge increase in new applications because they were able to qualify borrowers at the actual mortgage amount, rather than adding 2% to the rate for qualifying. As a result many credit unions took advantage by increasing their rates and began imposing their own restrictions and were able to pick from the best borrowers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What is a Private Lender?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Those with challenging applications from weaker credit scores or income fluctuations were driven to the private lending sector. A private lender is essentially an individual or group who lends funds at their own discretion. They could be an individual lending out their own funds from a line of credit or even RRSP/RESP investments, or, more commonly they are institutional private lenders - corporations and investment pools.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We’ll discuss individual private lenders in another article. For the purposes here we’ll be referring to institutional lender; the most common type being Mortgage Investment Corporations (MICs). A MIC is a company that will borrow or manage funds in a pool and lend the funds out as mortgages. These companies manage the mortgage payments and take action when the borrower misses or is late with payments. The MIC will have underwriters who review mortgage and approve mortgage applications just as a traditional mortgage lender would and will receive a portion of the mortgage interest as compensation. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By mid 2018 over 7.87% of the Canadian mortgage market was held by private lenders - a 37.8% increase compared to the same quarter the previous year.&nbsp;That number has most certainly since surpassed 8%. With private lending becoming such a significant part of the mortgage landscape, it’s important that more people understand the benefits and drawbacks of them before being advised to use them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":5552} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/private-lender-chart.jpg\" alt=\"Private Mortgages chart\" class=\"wp-image-5552\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Benefits of Using a Private Lender</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The most obvious benefit to using a private lender is convenience. With much less stringent requirements, both from government regulations and their own internal requirements, private lenders are free to lend money to just about anyone they want to. They’ve become the option of choice for mortgage brokers and agents who have clients with damaged credit trying to consolidate debts. While a private lender does charge much higher rates than banks, they’re usually far lower than credit card rates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Investors have also been flocking to private lenders for years to fund their projects. Banks traditionally don’t want to fund flip projects or student rentals because of the uncertainty and higher perceived risk; but they can be quite lucrative for private lenders. As long as the investor has a clear exist strategy and can prove they can cover the higher rates and have an exit strategy for repaying the full mortgage, a private lender will often overlook an investor’s income, debt servicing, credit scores or portfolio size.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Private loans also bridge a gap in types of properties that traditional lenders don\'t want to deal with - cottages without running water, farms, vacant or raw land, construction or renovation projects. These are all traditionally difficult to do with a bank if they don\'t have an existing program for it, but a private lender will use more common sense to evaluating the project and listen to the reasons for the loan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Because the costs to use a private lender are much higher, they’re typically used for short term solutions. In the case of the investor they’re often only used for a couple months before being paid back with a sale or refinance when the project is complete. Debt consolidating borrowers will often use a private lender to access a second mortgage to consolidate debts when breaking their existing mortgage carries too many fees and penalties. In this case the private second mortgage will often be paid out when it’s time to refinance the existing first mortgage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This leads to another benefit of private mortgages is that they’re typically open mortgages and can be paid out at any time after the first 30 or 60 days.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Drawbacks of Using a Private Lender</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The biggest drawback is typically the cost. With borrowers flocking to privates because of increasing interest rates and challenges qualifying under the stress test, private lenders have benefited from the increased demand and have responded by increasing their rates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Currently borrowers looking for a private 1st mortgage can expect to pay between 7-10% interest with an additional 1-4% broker/lender fee. 2nd mortgages are currently typically 9-14% with a 2-5% broker/lender fee. Since private lenders do not pay a finder’s fee to the mortgage broker arranging the mortgage like a bank will, brokers and agents need to charge their fee on top of the private lender rate and fee, otherwise find themselves spending hours arranging the mortgage for free.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Another drawback to working with private lenders is they typically only offer 1-year terms. That means when the year is up the borrower will need to refinance the mortgage elsewhere or sign a renewal and pay a fee again. This is a challenge when a borrower may be looking to consolidate debts and has a year and a half on their current mortgage. The borrower will need to either extend the private an additional six months, or break their current mortgage six months early. An investor may have an issue if they’re unable to refinance the property with a traditional lender or are unable to sell quickly enough. They’ll need to hold the mortgage longer than they budgeted for.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sill another drawback to working with a private lender is that they typically set their own rules and will charge as much as they feel the market will allow to maximize profits. It also means that they have more freedom to cancel or turn down an application at any stage. Many mortgage agents will have at least a few horror stories about private lenders increasing their fee or cancelling the loan at the last minute, leaving the borrower and mortgage broker scrambling. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is less common with large MICs and institutional private lenders as they rely on they reputation with brokers to bring them clients, but it does happen for a range of reasons. It is also known to happen with banks and the reasoning is often issues with the condition of the property or other unforeseen issues.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Work With a Reputable Mortgage Broker or Agent</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With private lenders having a much larger pool of borrowers to choose from with far less restrictions than traditional lenders, it’s important to ensure borrowers working with a reputable mortgage agent and broker. It’s important to understand that when presented with a mortgage commitment from a broker, borrowers are signing a legal document.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While all fees need to be disclosed up front, it’s relatively easy for lenders and brokers to include fees and not clearly point them out. There’s also fees, clauses and terms that are decided on by the lender that protect their interests and unscrupulous lenders can use them to aggressively charge fees and penalties that borrowers are bound to pay. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A <a href=\"http://mortgagealliance.com/stevewhite\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"reputable mortgage broker (opens in a new tab)\">reputable mortgage broker</a> will have a set list of reputable private lenders they use regularly and will understand their terms to ensure they’re fair. A less reputable or inexperienced broker may find themselves scanning online classifieds looking for a private lender and won’t know in advance what the mortgage terms will be. A real estate lawyer will be able to review a mortgage commitment for anything that may be excessing or overly punitive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For more information on working with myself or private lenders, feel free to reach out - <a href=\"mailto:steve@stevewhitemortgages.ca\">Steve@SteveWhiteMortgages.ca</a> or 905.903.4799</p>\n<!-- /wp:paragraph -->','Should You Avoid a Private Mortgage?','','publish','closed','open','','should-you-avoid-a-private-mortgage','','','2019-01-14 16:32:45','2019-01-14 16:32:45','',0,'https://www.stevewhitemortgages.ca/?p=5551',0,'post','',0),(5552,1,'2019-01-14 16:24:23','2019-01-14 16:24:23','','private lender chart','','inherit','closed','closed','','private-lender-chart','','','2019-01-14 16:24:23','2019-01-14 16:24:23','',5551,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/private-lender-chart.jpg',0,'attachment','image/jpeg',0),(5553,1,'2019-01-14 16:24:58','2019-01-14 16:24:58','<!-- wp:paragraph -->\n<p>Private mortgages have seen a significant boom in recent years with 2018 being one of the largest spikes ever.<br>\nWith the B20 stress test unveiled by the Office of the Superintendent of Financial Institutions at the end of December 2017, Canadians found themselves much more restricted on the amount they could borrow. In many cases buyers and borrowers were unable to access a mortgage at all from a traditional lender. The result for many was to turn to lenders who did not fall under the new stress test - credit unions and private lenders.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Credit unions, which are co-operatives owned by their members, saw a huge increase in new applications because they were able to qualify borrowers at the actual mortgage amount, rather than adding 2% to the rate for qualifying. As a result many credit unions took advantage by increasing their rates and began imposing their own restrictions and were able to pick from the best borrowers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What is a Private Lender?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Those with challenging applications from weaker credit scores or income fluctuations were driven to the private lending sector. A private lender is essentially an individual or group who lends funds at their own discretion. They could be an individual lending out their own funds from a line of credit or even RRSP/RESP investments, or, more commonly they are institutional private lenders - corporations and investment pools.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We’ll discuss individual private lenders in another article. For the purposes here we’ll be referring to institutional lender; the most common type being Mortgage Investment Corporations (MICs). A MIC is a company that will borrow or manage funds in a pool and lend the funds out as mortgages. These companies manage the mortgage payments and take action when the borrower misses or is late with payments. The MIC will have underwriters who review mortgage and approve mortgage applications just as a traditional mortgage lender would and will receive a portion of the mortgage interest as compensation. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By mid 2018 over 7.87% of the Canadian mortgage market was held by private lenders - a 37.8% increase compared to the same quarter the previous year.&nbsp;That number has most certainly since surpassed 8%. With private lending becoming such a significant part of the mortgage landscape, it’s important that more people understand the benefits and drawbacks of them before being advised to use them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":5552} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/private-lender-chart.jpg\" alt=\"\" class=\"wp-image-5552\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Benefits of Using a Private Lender</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The most obvious benefit to using a private lender is convenience. With much less stringent requirements, both from government regulations and their own internal requirements, private lenders are free to lend money to just about anyone they want to. They’ve become the option of choice for mortgage brokers and agents who have clients with damaged credit trying to consolidate debts. While a private lender does charge much higher rates than banks, they’re usually far lower than credit card rates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Investors have also been flocking to private lenders for years to fund their projects. Banks traditionally don’t want to fund flip projects or student rentals because of the uncertainty and higher perceived risk; but they can be quite lucrative for private lenders. As long as the investor has a clear exist strategy and can prove they can cover the higher rates and have an exit strategy for repaying the full mortgage, a private lender will often overlook an investor’s income, debt servicing, credit scores or portfolio size.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Private loans also bridge a gap in types of properties that traditional lenders don\'t want to deal with - cottages without running water, farms, vacant or raw land, construction or renovation projects. These are all traditionally difficult to do with a bank if they don\'t have an existing program for it, but a private lender will use more common sense to evaluating the project and listen to the reasons for the loan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Because the costs to use a private lender are much higher, they’re typically used for short term solutions. In the case of the investor they’re often only used for a couple months before being paid back with a sale or refinance when the project is complete. Debt consolidating borrowers will often use a private lender to access a second mortgage to consolidate debts when breaking their existing mortgage carries too many fees and penalties. In this case the private second mortgage will often be paid out when it’s time to refinance the existing first mortgage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This leads to another benefit of private mortgages is that they’re typically open mortgages and can be paid out at any time after the first 30 or 60 days.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Drawbacks of Using a Private Lender</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The biggest drawback is typically the cost. With borrowers flocking to privates because of increasing interest rates and challenges qualifying under the stress test, private lenders have benefited from the increased demand and have responded by increasing their rates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Currently borrowers looking for a private 1st mortgage can expect to pay between 7-10% interest with an additional 1-4% broker/lender fee. 2nd mortgages are currently typically 9-14% with a 2-5% broker/lender fee. Since private lenders do not pay a finder’s fee to the mortgage broker arranging the mortgage like a bank will, brokers and agents need to charge their fee on top of the private lender rate and fee, otherwise find themselves spending hours arranging the mortgage for free.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Another drawback to working with private lenders is they typically only offer 1-year terms. That means when the year is up the borrower will need to refinance the mortgage elsewhere or sign a renewal and pay a fee again. This is a challenge when a borrower may be looking to consolidate debts and has a year and a half on their current mortgage. The borrower will need to either extend the private an additional six months, or break their current mortgage six months early. An investor may have an issue if they’re unable to refinance the property with a traditional lender or are unable to sell quickly enough. They’ll need to hold the mortgage longer than they budgeted for.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sill another drawback to working with a private lender is that they typically set their own rules and will charge as much as they feel the market will allow to maximize profits. It also means that they have more freedom to cancel or turn down an application at any stage. Many mortgage agents will have at least a few horror stories about private lenders increasing their fee or cancelling the loan at the last minute, leaving the borrower and mortgage broker scrambling. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is less common with large MICs and institutional private lenders as they rely on they reputation with brokers to bring them clients, but it does happen for a range of reasons. It is also known to happen with banks and the reasoning is often issues with the condition of the property or other unforeseen issues.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Work With a Reputable Mortgage Broker or Agent</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With private lenders having a much larger pool of borrowers to choose from with far less restrictions than traditional lenders, it’s important to ensure borrowers working with a reputable mortgage agent and broker. It’s important to understand that when presented with a mortgage commitment from a broker, borrowers are signing a legal document.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While all fees need to be disclosed up front, it’s relatively easy for lenders and brokers to include fees and not clearly point them out. There’s also fees, clauses and terms that are decided on by the lender that protect their interests and unscrupulous lenders can use them to aggressively charge fees and penalties that borrowers are bound to pay. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A reputable mortgage broker will have a set list of reputable private lenders they use regularly and will understand their terms to ensure they’re fair. A less reputable or inexperienced broker may find themselves scanning online classifieds looking for a private lender and won’t know in advance what the mortgage terms will be. A real estate lawyer will be able to review a mortgage commitment for anything that may be excessing or overly punitive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For more information on working with myself or private lenders, feel free to reach out - <a href=\"mailto:steve@stevewhitemortgages.ca\">Steve@SteveWhiteMortgages.ca</a> or 905.903.4799</p>\n<!-- /wp:paragraph -->','Should You Avoid Private Mortgages?','','inherit','closed','closed','','5551-revision-v1','','','2019-01-14 16:24:58','2019-01-14 16:24:58','',5551,'https://www.stevewhitemortgages.ca/2019/01/5551-revision-v1/',0,'revision','',0),(5554,1,'2019-01-14 16:32:41','2019-01-14 16:32:41','<!-- wp:paragraph -->\n<p>Private mortgages have seen a significant boom in recent years with 2018 being one of the largest spikes ever.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With the B20 stress test unveiled by the Office of the Superintendent of Financial Institutions at the end of December 2017, Canadians found themselves much more restricted on the amount they could borrow. In many cases buyers and borrowers were unable to access a mortgage at all from a traditional lender. The result for many was to turn to lenders who did not fall under the new stress test - credit unions and private lenders.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Credit unions, which are co-operatives owned by their members, saw a huge increase in new applications because they were able to qualify borrowers at the actual mortgage amount, rather than adding 2% to the rate for qualifying. As a result many credit unions took advantage by increasing their rates and began imposing their own restrictions and were able to pick from the best borrowers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What is a Private Lender?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Those with challenging applications from weaker credit scores or income fluctuations were driven to the private lending sector. A private lender is essentially an individual or group who lends funds at their own discretion. They could be an individual lending out their own funds from a line of credit or even RRSP/RESP investments, or, more commonly they are institutional private lenders - corporations and investment pools.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We’ll discuss individual private lenders in another article. For the purposes here we’ll be referring to institutional lender; the most common type being Mortgage Investment Corporations (MICs). A MIC is a company that will borrow or manage funds in a pool and lend the funds out as mortgages. These companies manage the mortgage payments and take action when the borrower misses or is late with payments. The MIC will have underwriters who review mortgage and approve mortgage applications just as a traditional mortgage lender would and will receive a portion of the mortgage interest as compensation. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By mid 2018 over 7.87% of the Canadian mortgage market was held by private lenders - a 37.8% increase compared to the same quarter the previous year.&nbsp;That number has most certainly since surpassed 8%. With private lending becoming such a significant part of the mortgage landscape, it’s important that more people understand the benefits and drawbacks of them before being advised to use them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":5552} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/private-lender-chart.jpg\" alt=\"Private Mortgages chart\" class=\"wp-image-5552\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Benefits of Using a Private Lender</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The most obvious benefit to using a private lender is convenience. With much less stringent requirements, both from government regulations and their own internal requirements, private lenders are free to lend money to just about anyone they want to. They’ve become the option of choice for mortgage brokers and agents who have clients with damaged credit trying to consolidate debts. While a private lender does charge much higher rates than banks, they’re usually far lower than credit card rates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Investors have also been flocking to private lenders for years to fund their projects. Banks traditionally don’t want to fund flip projects or student rentals because of the uncertainty and higher perceived risk; but they can be quite lucrative for private lenders. As long as the investor has a clear exist strategy and can prove they can cover the higher rates and have an exit strategy for repaying the full mortgage, a private lender will often overlook an investor’s income, debt servicing, credit scores or portfolio size.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Private loans also bridge a gap in types of properties that traditional lenders don\'t want to deal with - cottages without running water, farms, vacant or raw land, construction or renovation projects. These are all traditionally difficult to do with a bank if they don\'t have an existing program for it, but a private lender will use more common sense to evaluating the project and listen to the reasons for the loan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Because the costs to use a private lender are much higher, they’re typically used for short term solutions. In the case of the investor they’re often only used for a couple months before being paid back with a sale or refinance when the project is complete. Debt consolidating borrowers will often use a private lender to access a second mortgage to consolidate debts when breaking their existing mortgage carries too many fees and penalties. In this case the private second mortgage will often be paid out when it’s time to refinance the existing first mortgage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This leads to another benefit of private mortgages is that they’re typically open mortgages and can be paid out at any time after the first 30 or 60 days.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Drawbacks of Using a Private Lender</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The biggest drawback is typically the cost. With borrowers flocking to privates because of increasing interest rates and challenges qualifying under the stress test, private lenders have benefited from the increased demand and have responded by increasing their rates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Currently borrowers looking for a private 1st mortgage can expect to pay between 7-10% interest with an additional 1-4% broker/lender fee. 2nd mortgages are currently typically 9-14% with a 2-5% broker/lender fee. Since private lenders do not pay a finder’s fee to the mortgage broker arranging the mortgage like a bank will, brokers and agents need to charge their fee on top of the private lender rate and fee, otherwise find themselves spending hours arranging the mortgage for free.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Another drawback to working with private lenders is they typically only offer 1-year terms. That means when the year is up the borrower will need to refinance the mortgage elsewhere or sign a renewal and pay a fee again. This is a challenge when a borrower may be looking to consolidate debts and has a year and a half on their current mortgage. The borrower will need to either extend the private an additional six months, or break their current mortgage six months early. An investor may have an issue if they’re unable to refinance the property with a traditional lender or are unable to sell quickly enough. They’ll need to hold the mortgage longer than they budgeted for.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sill another drawback to working with a private lender is that they typically set their own rules and will charge as much as they feel the market will allow to maximize profits. It also means that they have more freedom to cancel or turn down an application at any stage. Many mortgage agents will have at least a few horror stories about private lenders increasing their fee or cancelling the loan at the last minute, leaving the borrower and mortgage broker scrambling. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is less common with large MICs and institutional private lenders as they rely on they reputation with brokers to bring them clients, but it does happen for a range of reasons. It is also known to happen with banks and the reasoning is often issues with the condition of the property or other unforeseen issues.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Work With a Reputable Mortgage Broker or Agent</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With private lenders having a much larger pool of borrowers to choose from with far less restrictions than traditional lenders, it’s important to ensure borrowers working with a reputable mortgage agent and broker. It’s important to understand that when presented with a mortgage commitment from a broker, borrowers are signing a legal document.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While all fees need to be disclosed up front, it’s relatively easy for lenders and brokers to include fees and not clearly point them out. There’s also fees, clauses and terms that are decided on by the lender that protect their interests and unscrupulous lenders can use them to aggressively charge fees and penalties that borrowers are bound to pay. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A <a href=\"http://mortgagealliance.com/stevewhite\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"reputable mortgage broker (opens in a new tab)\">reputable mortgage broker</a> will have a set list of reputable private lenders they use regularly and will understand their terms to ensure they’re fair. A less reputable or inexperienced broker may find themselves scanning online classifieds looking for a private lender and won’t know in advance what the mortgage terms will be. A real estate lawyer will be able to review a mortgage commitment for anything that may be excessing or overly punitive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For more information on working with myself or private lenders, feel free to reach out - <a href=\"mailto:steve@stevewhitemortgages.ca\">Steve@SteveWhiteMortgages.ca</a> or 905.903.4799</p>\n<!-- /wp:paragraph -->','Should You Avoid a Private Mortgage?','','inherit','closed','closed','','5551-revision-v1','','','2019-01-14 16:32:41','2019-01-14 16:32:41','',5551,'https://www.stevewhitemortgages.ca/2019/01/5551-revision-v1/',0,'revision','',0),(5555,1,'2019-01-14 20:11:10','0000-00-00 00:00:00','<!-- wp:paragraph -->\n<p>Looking for a Cobourg Mortgage Broker?</p>\n<!-- /wp:paragraph -->','Contact Page','','draft','closed','open','','cobourg','','','2019-01-14 20:11:10','2019-01-14 20:11:10','',0,'https://www.stevewhitemortgages.ca/?page_id=5555',0,'page','',0),(5556,1,'2019-01-14 20:11:09','2019-01-14 20:11:09','<!-- wp:paragraph -->\n<p>Looking for a Cobourg Mortgage Broker?</p>\n<!-- /wp:paragraph -->','Contact Page','','inherit','closed','closed','','5555-revision-v1','','','2019-01-14 20:11:09','2019-01-14 20:11:09','',5555,'https://www.stevewhitemortgages.ca/2019/01/5555-revision-v1/',0,'revision','',0),(5557,1,'2019-01-17 21:01:57','2019-01-17 21:01:57','','GordonInsurance2','','inherit','closed','closed','','gordoninsurance2','','','2019-01-17 21:01:57','2019-01-17 21:01:57','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/GordonInsurance2.jpg',0,'attachment','image/jpeg',0),(5559,1,'2019-01-23 14:03:36','2019-01-23 14:03:36','<!-- wp:paragraph -->\n<p>I recently sat down with real estate investor Wayne Dolson who focuses primarily on Rent to Own (RTO) investing. I was eager to speak with Wayne because RTOs have taken a bit of a PR pounding in recent years with some investors who didn\'t run their investment well or tenant/buyers where unable to close on the purchase when the term came due.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How long have you been investing?<br>A. I started investing since 2008</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What got you into it?<br>\nA. I read Rich Dad Poor Dad in 2003. I was intrigued by the idea of owning rental property. Creating another stream of income that was profitable.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What other investing have you done in the past?<br> A. I did have some stocks and RRSP in the past. Neither really produced anything great in the way of returns.I do not invest in those now as I use my money into Real Estate Investing <br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Do you still invest outside real estate?<br> A. No, there are so many different ways in real estate that you can invest. This investment tool….and I am being bias is the greatest. An investment backed by the hard asset that you own and control.   </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What kind of real estate investing do you do?<br> A. I started with a buy and hold back in 2008. This ended up costing us $10K of a loss as I was so green and didn\'t know anything about real estate investing. I then came across the Rent to Own strategy in 2009 and haven\'t looked back.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Why did you choose that strategy?<br> A. Rent to Own started off as a fit for my life. My wife and I are busy professionals who don\'t have a lot of time allotted to dedicate to this. Rent To Own is like having a built in property manager as the tenant has a financial and emotional investment into the property. They manage through all as if the house was already theirs. We essentially are the bank. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":5562} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/waynecombo.jpg\" alt=\"RTO investing Canada\" class=\"wp-image-5562\"/><figcaption>Wayne Dolson, a Canada Rent to Own Real Estate Investing Expert</figcaption></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Q. Where do you feel you are in your investing career?<br> A. You know I have been doing this for the past 10 years and feel I’m still an average investor. I am looking to the future of what more I can and need to do for my portfolio. Im not complaining it has been great and has provided great things for us. We are our own worst critiques and everyone should strive for more. I am extremely passionate about Rent to Own investing and feel its the best path for business professionals like us. The future consists of growing my own Rent to Own portfolio and educating others who were like me 10 years ago on the great returns it offers with a hands off approach.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What has been your biggest fail with REI?<br> A. Day one, sinking $10K into a structure where I was told that negative cash flow is ok as for the long haul your building for equity. That was a learning curve. Sure $10K seems like nothing but when it was our first deal and our hard earn money……we got scammed. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What has been your biggest success?<br>A. Biggest success has been the last 9 years in Rent To Own generating great returns. It has provided us with comfort to sleep at night and helped us pay off our 25 year mortgage in 11 years. We have been mortgage free since 2017 and investing has helped.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What is your biggest regret in real estate?<br>A. Regret number one would be waiting to get in. I wish I knew what I know now and had people to rely on when i was younger to really go after it. However Happy we did pull the trigger and get in. Second regret would be in the early days trying to go it all alone. Not realizing that working with like minded investors really helps one to grow themselves and their portfolio. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How supportive was your family when you started?<br>A. My family was very supportive. My wife was skeptical at first and took some convincing. However ask her now and should is happy we did it. My family didn\'t have investments. My wife’s family saved money, invested into mutual funds and RRSP. Now they all are either investing in real estate or want to. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How involved is your wife/family in the investing business?<br>A. My Wife is my life partner and my business partner. We share our business 50/50. I am more into it than she but she definitely keeps us organized with paperwork, expenses, deposits etc. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What advice do you have for new investors?<br>A. 1) know the numbers. <br> 2) Speak and work with those who have invested in what you seek to invest in and have been successful in it. <br> 3) Do not be afraid to ask questions<br> 4) Finally…..pull the trigger. Do not sit on the side lines after getting all of this info and wish it. You need to take action. Again if you are not sure how revert back to #2</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. If you were the CEO of a bank, what would set you apart?<br>A. My passion for Real Estate. There is money to be made in Real estate for the banks. I agree we need to be somewhat tight with our lending practices. We do not need a Sub Prime issue here. Regardless banks do not want to own assets if things go bad with an investor or mortgage holder. As CEO I know that even if something did go wrong that they can be sold if you have the right agents in place. You will recoup your money. This is no different with regular investors. You own the asset. You get to do what you desire with it.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What is your 5 and 10-year goals?<br>A. Funny you mention that. I just listen to a podcast where they discussed this. People are so busy with their life and&nbsp;business that there is no way you can truly set a 5 - 10 year goal. The economy changes and circumstance change. If you are so set to 5 or 10 year goal you could be in trouble, so start smaller - whats your 1 year goal. Now go crush it.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With that if I was to answer in 5 - 10 years Id like to have solid Rent to Own deals under me that net me $5K a month cash flow, I’d like to Joint Venture with new investors to show them how their money can provide great&nbsp;returns and be hand free investing themselves. I want to also be part of a group who owns a 20 plus unit&nbsp;apartment building &nbsp;while building more long term&nbsp;equity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Who would win in a fight between Batman and Spiderman?<br>A. BATMAN….hands down…..\"I AM BATMAN\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What single thing would improve the quality of your life?<br>A. More TRAVEL with my family&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What types of investing would you like to do more of?<br>A. Rent to Own of courses&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Have you taken any real estate training programs or coaching?<br>A. No, all has been self taught. I read books, attend network groups, etc. This goes back to my 4 things earlier - speak with and work with those who have invested in what you seek to invest in and have been successful in it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Do you have any questions about investing or financing Rent to Own investments or know of an investor I should interview? I\'d love to hear from you - <a href=\"mailto:steve@stevewhitemortgages.ca\">Steve@SteveWhiteMortgages.ca</a></p>\n<!-- /wp:paragraph -->','Investor Interview - RTOs with Wayne Dolson','','publish','closed','open','','investor-interview-rtos-with-wayne-dolson','','','2019-01-23 14:03:41','2019-01-23 14:03:41','',0,'https://www.stevewhitemortgages.ca/?p=5559',0,'post','',0),(5560,1,'2019-01-22 22:08:02','2019-01-22 22:08:02','<!-- wp:paragraph -->\n<p>I recently sat down with real estate investor Wayne Dolson who focuses primarily on Rent to Own (RTO) investing. I was eager to speak with Wayne because RTOs have taken a bit of a PR pounding in recent years with some investors who didn\'t run their investment well or tenant/buyers where unable to close on the </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How long have you been investing?<br>A. I started investing since 2008</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What got you into it?<br>\nA. I read Rich Dad Poor Dad in 2003. I was intrigued by the idea of owning rental property. Creating another stream of income that was profitable.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What other investing have you done in the past<br> A. I did have some stocks and RRSP in the past. Neither really produced anything great in the way of returns.I do not invest in those now as I use my money into Real Estate Investing <br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Do you still invest outside real estate<br> A. No, there are so many different ways in real estate that you can invest. This investment tool….and I am being bias is the greatest. An investment backed by the hard asset that you own and control.   </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What kind of real estate investing do you do<br>\nA. I started with a buy and hold back in 2008. This ended up costing us $10K of a loss as I was so green and&nbsp;didn\'t know anything about real estate investing. I then came across the Rent to Own strategy in 2009 and&nbsp;haven\'t looked back. &nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Why did you choose that strategy<br>\nA. Rent to Own started off as a fit for my life. My wife and I are busy&nbsp;professionals who&nbsp;don\'t have&nbsp;a lot of time&nbsp;allotted to&nbsp;dedicate to this. Rent To Own is like having a built in property manager as the tenant has a financial and emotional investment into the property. They manage through all as if the house was already theirs. We essentially are the bank.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Where do you feel you are in your investing career<br>\nA. You know I&nbsp;have been doing this for the past 10&nbsp;years and feel I’m still an average investor. I am&nbsp;looking to the&nbsp;future of what more I can and need to do for my portfolio. Im not&nbsp;complaining it has been great and has provided great things for us. We are our own worst critiques and everyone should strive&nbsp;for more.&nbsp;I am extremely passionate about Rent to Own investing and feel its the best path for business professionals like us. The future consists of growing my own Rent to Own portfolio and educating others who were like me 10 years ago on the great returns it offers with a hands off approach.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What has been your biggest fail with REI<br>\nA. Day one, sinking $10K into a structure where I was told that negative cash flow is ok as for the long haul your building for equity. That was a learning curve. Sure $10K seems like nothing but when it was our first deal and our hard earn money……we got scammed.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What has been your biggest success<br>\nA. Biggest success has been the last 9 years in Rent To Own generating great returns. It has provided us with comfort to sleep at night and helped us pay off our 25 year mortgage in 11 years. We have been mortgage free since 2017 and investing has helped.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What is your biggest regret in real estate<br>\nA. Regret number one would be waiting to get in. I wish I knew what I know now and had people to rely on when i was younger to really go after it. However Happy we did pull the trigger and get in. Second regret would be in the early days trying to go it all alone. Not&nbsp;realizing that working with like minded investors really helps one to grow&nbsp;themselves and their portfolio.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How supportive was your family when you started<br>\nA. My family was very supportive. My wife was skeptical at first and took some convincing. However ask her now and should is happy we did it. My family&nbsp;didn\'t have investments. My wife’s family saved money, invested into mutual funds and RRSP. Now they all are either investing in real estate or want to.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How involved is your wife/family in the investing business<br>\nA. My Wife is my life partner and my business partner. We share our business 50/50. I am more into it than she but she&nbsp;definitely keeps us organized with paperwork, expenses, deposits etc.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What advice do you have for new investors?<br> A. 1) know the numbers. <br> 2) Speak and work with those who have invested in what you seek to invest in and have been successful in it. <br> 3) Do not be afraid to ask questions<br> 4) Finally…..pull the trigger. Do not sit on the side lines after getting all of this info and wish it. You need to take action. Again if you are not sure how revert back to #2</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. If you were the CEO of a bank, what would set you apart?<br>A. My passion for Real Estate. There is money to be made in Real estate for the banks. I agree we need to be somewhat tight with our lending practices. We do not need a Sub Prime issue here. Regardless banks do not want to own assets if things go bad with an investor or mortgage holder. As CEO I know that even if something did go wrong that they can be sold if you have the right agents in place. You will recoup your money. This is no different with regular investors. You own the asset. You get to do what you desire with it. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What is your 5 and 10-year goals?<br>A. Funny you mention that. I just listen to a podcast where they discussed this. People are so busy with their life and business that there is no way you can truly set a 5 - 10 year goal. The economy changes and circumstance change. If you are so set to 5 or 10 year goal you could be in trouble, so start smaller - whats your 1 year goal. Now go crush it. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With that if I was to answer in 5 - 10 years Id like to have solid Rent to Own deals under me that net me $5K a month cash flow, I’d like to Joint Venture with new investors to show them how their money can provide great returns and be hand free investing themselves. I want to also be part of a group who owns a 20 plus unit apartment building  while building more long term equity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Who would win in a fight between Batman and Spiderman?<br>A. BATMAN….hands down…..\"I AM BATMAN\" </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What single thing would improve the quality of your life?<br>A. More TRAVEL with my family </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What types of investing would you like to do more of?<br>A. Rent to Own of courses </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Have you taken any real estate training programs or coaching?<br>A. No, all has been self taught. I read books, attend network groups, etc. This goes back to my 4 things earlier - speak with and work with those who have invested in what you seek to invest in and have been successful in it.</p>\n<!-- /wp:paragraph -->','Investor Interview - RTOs with Wayne Dolson','','inherit','closed','closed','','5559-revision-v1','','','2019-01-22 22:08:02','2019-01-22 22:08:02','',5559,'https://www.stevewhitemortgages.ca/2019/01/5559-revision-v1/',0,'revision','',0),(5561,1,'2019-01-23 13:55:38','2019-01-23 13:55:38','Canada Rent to Own Real Estate Investing','WayneMain','Wayne Dolson speaks of Rent to Own investing','inherit','closed','closed','','waynemain','','','2019-01-23 13:56:15','2019-01-23 13:56:15','',5559,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/WayneMain.jpg',0,'attachment','image/jpeg',0),(5562,1,'2019-01-23 14:00:12','2019-01-23 14:00:12','','Wayne Dolson Real Estate Investor','Canada Rent to Own Real Estate Investing','inherit','closed','closed','','waynecombo','','','2019-01-23 14:01:54','2019-01-23 14:01:54','',5559,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/waynecombo.jpg',0,'attachment','image/jpeg',0),(5563,1,'2019-01-23 14:00:29','2019-01-23 14:00:29','<!-- wp:paragraph -->\n<p>I recently sat down with real estate investor Wayne Dolson who focuses primarily on Rent to Own (RTO) investing. I was eager to speak with Wayne because RTOs have taken a bit of a PR pounding in recent years with some investors who didn\'t run their investment well or tenant/buyers where unable to close on the purchase when the term came due.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How long have you been investing?<br>A. I started investing since 2008</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What got you into it?<br>\nA. I read Rich Dad Poor Dad in 2003. I was intrigued by the idea of owning rental property. Creating another stream of income that was profitable.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":5562} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/waynecombo.jpg\" alt=\"\" class=\"wp-image-5562\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Q. What other investing have you done in the past?<br> A. I did have some stocks and RRSP in the past. Neither really produced anything great in the way of returns.I do not invest in those now as I use my money into Real Estate Investing <br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Do you still invest outside real estate?<br> A. No, there are so many different ways in real estate that you can invest. This investment tool….and I am being bias is the greatest. An investment backed by the hard asset that you own and control.   </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What kind of real estate investing do you do?<br> A. I started with a buy and hold back in 2008. This ended up costing us $10K of a loss as I was so green and didn\'t know anything about real estate investing. I then came across the Rent to Own strategy in 2009 and haven\'t looked back.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Why did you choose that strategy?<br> A. Rent to Own started off as a fit for my life. My wife and I are busy professionals who don\'t have a lot of time allotted to dedicate to this. Rent To Own is like having a built in property manager as the tenant has a financial and emotional investment into the property. They manage through all as if the house was already theirs. We essentially are the bank. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Where do you feel you are in your investing career?<br> A. You know I have been doing this for the past 10 years and feel I’m still an average investor. I am looking to the future of what more I can and need to do for my portfolio. Im not complaining it has been great and has provided great things for us. We are our own worst critiques and everyone should strive for more. I am extremely passionate about Rent to Own investing and feel its the best path for business professionals like us. The future consists of growing my own Rent to Own portfolio and educating others who were like me 10 years ago on the great returns it offers with a hands off approach.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What has been your biggest fail with REI?<br> A. Day one, sinking $10K into a structure where I was told that negative cash flow is ok as for the long haul your building for equity. That was a learning curve. Sure $10K seems like nothing but when it was our first deal and our hard earn money……we got scammed. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What has been your biggest success?<br>A. Biggest success has been the last 9 years in Rent To Own generating great returns. It has provided us with comfort to sleep at night and helped us pay off our 25 year mortgage in 11 years. We have been mortgage free since 2017 and investing has helped.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What is your biggest regret in real estate?<br>A. Regret number one would be waiting to get in. I wish I knew what I know now and had people to rely on when i was younger to really go after it. However Happy we did pull the trigger and get in. Second regret would be in the early days trying to go it all alone. Not realizing that working with like minded investors really helps one to grow themselves and their portfolio. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How supportive was your family when you started?<br>A. My family was very supportive. My wife was skeptical at first and took some convincing. However ask her now and should is happy we did it. My family didn\'t have investments. My wife’s family saved money, invested into mutual funds and RRSP. Now they all are either investing in real estate or want to. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How involved is your wife/family in the investing business?<br>A. My Wife is my life partner and my business partner. We share our business 50/50. I am more into it than she but she definitely keeps us organized with paperwork, expenses, deposits etc. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What advice do you have for new investors?<br>A. 1) know the numbers. <br> 2) Speak and work with those who have invested in what you seek to invest in and have been successful in it. <br> 3) Do not be afraid to ask questions<br> 4) Finally…..pull the trigger. Do not sit on the side lines after getting all of this info and wish it. You need to take action. Again if you are not sure how revert back to #2</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. If you were the CEO of a bank, what would set you apart?<br>A. My passion for Real Estate. There is money to be made in Real estate for the banks. I agree we need to be somewhat tight with our lending practices. We do not need a Sub Prime issue here. Regardless banks do not want to own assets if things go bad with an investor or mortgage holder. As CEO I know that even if something did go wrong that they can be sold if you have the right agents in place. You will recoup your money. This is no different with regular investors. You own the asset. You get to do what you desire with it.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What is your 5 and 10-year goals?<br>A. Funny you mention that. I just listen to a podcast where they discussed this. People are so busy with their life and&nbsp;business that there is no way you can truly set a 5 - 10 year goal. The economy changes and circumstance change. If you are so set to 5 or 10 year goal you could be in trouble, so start smaller - whats your 1 year goal. Now go crush it.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With that if I was to answer in 5 - 10 years Id like to have solid Rent to Own deals under me that net me $5K a month cash flow, I’d like to Joint Venture with new investors to show them how their money can provide great&nbsp;returns and be hand free investing themselves. I want to also be part of a group who owns a 20 plus unit&nbsp;apartment building &nbsp;while building more long term&nbsp;equity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Who would win in a fight between Batman and Spiderman?<br>A. BATMAN….hands down…..\"I AM BATMAN\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What single thing would improve the quality of your life?<br>A. More TRAVEL with my family&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What types of investing would you like to do more of?<br>A. Rent to Own of courses&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Have you taken any real estate training programs or coaching?<br>A. No, all has been self taught. I read books, attend network groups, etc. This goes back to my 4 things earlier - speak with and work with those who have invested in what you seek to invest in and have been successful in it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Do you have any questions about investing or financing Rent to Own investments or know of an investor I should interview? I\'d love to hear from you - <a href=\"mailto:steve@stevewhitemortgages.ca\">Steve@SteveWhiteMortgages.ca</a></p>\n<!-- /wp:paragraph -->','Investor Interview - RTOs with Wayne Dolson','','inherit','closed','closed','','5559-revision-v1','','','2019-01-23 14:00:29','2019-01-23 14:00:29','',5559,'https://www.stevewhitemortgages.ca/2019/01/5559-revision-v1/',0,'revision','',0),(5564,1,'2019-01-23 14:02:23','2019-01-23 14:02:23','<!-- wp:paragraph -->\n<p>I recently sat down with real estate investor Wayne Dolson who focuses primarily on Rent to Own (RTO) investing. I was eager to speak with Wayne because RTOs have taken a bit of a PR pounding in recent years with some investors who didn\'t run their investment well or tenant/buyers where unable to close on the purchase when the term came due.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How long have you been investing?<br>A. I started investing since 2008</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What got you into it?<br>\nA. I read Rich Dad Poor Dad in 2003. I was intrigued by the idea of owning rental property. Creating another stream of income that was profitable.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What other investing have you done in the past?<br> A. I did have some stocks and RRSP in the past. Neither really produced anything great in the way of returns.I do not invest in those now as I use my money into Real Estate Investing <br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Do you still invest outside real estate?<br> A. No, there are so many different ways in real estate that you can invest. This investment tool….and I am being bias is the greatest. An investment backed by the hard asset that you own and control.   </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What kind of real estate investing do you do?<br> A. I started with a buy and hold back in 2008. This ended up costing us $10K of a loss as I was so green and didn\'t know anything about real estate investing. I then came across the Rent to Own strategy in 2009 and haven\'t looked back.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Why did you choose that strategy?<br> A. Rent to Own started off as a fit for my life. My wife and I are busy professionals who don\'t have a lot of time allotted to dedicate to this. Rent To Own is like having a built in property manager as the tenant has a financial and emotional investment into the property. They manage through all as if the house was already theirs. We essentially are the bank. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":5562} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.stevewhitemortgages.ca/wp-content/uploads/2019/01/waynecombo.jpg\" alt=\"RTO investing Canada\" class=\"wp-image-5562\"/><figcaption>Wayne Dolson, a Canada Rent to Own Real Estate Investing Expert</figcaption></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Q. Where do you feel you are in your investing career?<br> A. You know I have been doing this for the past 10 years and feel I’m still an average investor. I am looking to the future of what more I can and need to do for my portfolio. Im not complaining it has been great and has provided great things for us. We are our own worst critiques and everyone should strive for more. I am extremely passionate about Rent to Own investing and feel its the best path for business professionals like us. The future consists of growing my own Rent to Own portfolio and educating others who were like me 10 years ago on the great returns it offers with a hands off approach.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What has been your biggest fail with REI?<br> A. Day one, sinking $10K into a structure where I was told that negative cash flow is ok as for the long haul your building for equity. That was a learning curve. Sure $10K seems like nothing but when it was our first deal and our hard earn money……we got scammed. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What has been your biggest success?<br>A. Biggest success has been the last 9 years in Rent To Own generating great returns. It has provided us with comfort to sleep at night and helped us pay off our 25 year mortgage in 11 years. We have been mortgage free since 2017 and investing has helped.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What is your biggest regret in real estate?<br>A. Regret number one would be waiting to get in. I wish I knew what I know now and had people to rely on when i was younger to really go after it. However Happy we did pull the trigger and get in. Second regret would be in the early days trying to go it all alone. Not realizing that working with like minded investors really helps one to grow themselves and their portfolio. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How supportive was your family when you started?<br>A. My family was very supportive. My wife was skeptical at first and took some convincing. However ask her now and should is happy we did it. My family didn\'t have investments. My wife’s family saved money, invested into mutual funds and RRSP. Now they all are either investing in real estate or want to. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. How involved is your wife/family in the investing business?<br>A. My Wife is my life partner and my business partner. We share our business 50/50. I am more into it than she but she definitely keeps us organized with paperwork, expenses, deposits etc. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What advice do you have for new investors?<br>A. 1) know the numbers. <br> 2) Speak and work with those who have invested in what you seek to invest in and have been successful in it. <br> 3) Do not be afraid to ask questions<br> 4) Finally…..pull the trigger. Do not sit on the side lines after getting all of this info and wish it. You need to take action. Again if you are not sure how revert back to #2</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. If you were the CEO of a bank, what would set you apart?<br>A. My passion for Real Estate. There is money to be made in Real estate for the banks. I agree we need to be somewhat tight with our lending practices. We do not need a Sub Prime issue here. Regardless banks do not want to own assets if things go bad with an investor or mortgage holder. As CEO I know that even if something did go wrong that they can be sold if you have the right agents in place. You will recoup your money. This is no different with regular investors. You own the asset. You get to do what you desire with it.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What is your 5 and 10-year goals?<br>A. Funny you mention that. I just listen to a podcast where they discussed this. People are so busy with their life and&nbsp;business that there is no way you can truly set a 5 - 10 year goal. The economy changes and circumstance change. If you are so set to 5 or 10 year goal you could be in trouble, so start smaller - whats your 1 year goal. Now go crush it.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With that if I was to answer in 5 - 10 years Id like to have solid Rent to Own deals under me that net me $5K a month cash flow, I’d like to Joint Venture with new investors to show them how their money can provide great&nbsp;returns and be hand free investing themselves. I want to also be part of a group who owns a 20 plus unit&nbsp;apartment building &nbsp;while building more long term&nbsp;equity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Who would win in a fight between Batman and Spiderman?<br>A. BATMAN….hands down…..\"I AM BATMAN\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What single thing would improve the quality of your life?<br>A. More TRAVEL with my family&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. What types of investing would you like to do more of?<br>A. Rent to Own of courses&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Q. Have you taken any real estate training programs or coaching?<br>A. No, all has been self taught. I read books, attend network groups, etc. This goes back to my 4 things earlier - speak with and work with those who have invested in what you seek to invest in and have been successful in it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Do you have any questions about investing or financing Rent to Own investments or know of an investor I should interview? I\'d love to hear from you - <a href=\"mailto:steve@stevewhitemortgages.ca\">Steve@SteveWhiteMortgages.ca</a></p>\n<!-- /wp:paragraph -->','Investor Interview - RTOs with Wayne Dolson','','inherit','closed','closed','','5559-revision-v1','','','2019-01-23 14:02:23','2019-01-23 14:02:23','',5559,'https://www.stevewhitemortgages.ca/2019/01/5559-revision-v1/',0,'revision','',0),(5567,1,'2019-02-05 18:44:49','2019-02-05 18:44:49','','burnpermits2019','','inherit','closed','closed','','burnpermits2019','','','2019-02-05 18:44:49','2019-02-05 18:44:49','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/02/burnpermits2019.gif',0,'attachment','image/gif',0),(5568,1,'2019-02-06 17:53:15','0000-00-00 00:00:00','[captainform id=\"{cf_form_id}\"]','CaptainForm Preview','[captainform id=\"{cf_form_id}\"]','draft','closed','closed','','captainform_form_preview','','','2019-02-06 17:53:15','0000-00-00 00:00:00','',0,'https://www.stevewhitemortgages.ca/?post_type=captainform_post&p=5568',0,'captainform_post','',0),(5569,1,'2019-05-08 19:14:54','2019-05-08 19:14:54','<!-- wp:shortcode -->\n[captainform id=\"1262863\"]\n<!-- /wp:shortcode -->','Get Pre-Approved Before Rates Go Back UP','','publish','closed','closed','','mortgage-qualifying-inquiry','','','2019-05-08 19:18:11','2019-05-08 19:18:11','',0,'https://www.stevewhitemortgages.ca/?page_id=5569',0,'page','',0),(5570,1,'2019-02-06 18:17:27','2019-02-06 18:17:27','<!-- wp:shortcode -->\n[captainform id=\"1262863\"]\n<!-- /wp:shortcode -->','Mortgage Inquiry','','inherit','closed','closed','','5569-revision-v1','','','2019-02-06 18:17:27','2019-02-06 18:17:27','',5569,'https://www.stevewhitemortgages.ca/2019/02/5569-revision-v1/',0,'revision','',0),(5571,1,'2019-02-06 18:24:24','2019-02-06 18:24:24','<!-- wp:shortcode -->\n[captainform id=\"1262863\"]\n<!-- /wp:shortcode -->','Mortgage Qualifying Inquiry','','inherit','closed','closed','','5569-revision-v1','','','2019-02-06 18:24:24','2019-02-06 18:24:24','',5569,'https://www.stevewhitemortgages.ca/2019/02/5569-revision-v1/',0,'revision','',0),(5573,1,'2019-02-26 16:59:51','2019-02-26 16:59:51','','GFCU consol TN ad 1','','inherit','closed','closed','','gfcu-consol-tn-ad-1','','','2019-02-26 16:59:51','2019-02-26 16:59:51','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/02/GFCU-consol-TN-ad-1.png',0,'attachment','image/png',0),(5574,1,'2019-02-28 19:02:02','2019-02-28 19:02:02','','AlRevisedAdFeb2019','','inherit','closed','closed','','alrevisedadfeb2019','','','2019-02-28 19:02:02','2019-02-28 19:02:02','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/02/AlRevisedAdFeb2019.jpg',0,'attachment','image/jpeg',0),(5576,1,'2019-03-19 00:53:33','2019-03-19 00:53:33','','gordonbannerHTM','','inherit','closed','closed','','gordonbannerhtm','','','2019-03-19 00:53:33','2019-03-19 00:53:33','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/03/gordonbannerHTM.jpg',0,'attachment','image/jpeg',0),(5578,1,'2019-04-04 12:37:55','2019-04-04 12:37:55','','300x2501','','inherit','closed','closed','','300x2501','','','2019-04-04 12:37:55','2019-04-04 12:37:55','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/04/300x2501.jpg',0,'attachment','image/jpeg',0),(5580,1,'2019-05-06 14:01:45','2019-05-06 14:01:45','<!-- wp:paragraph -->\n<p>“But my brother got 3.35% with his bank, why can’t I have that?”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That’s a common question I hear from home buyers and owners looking for a new mortgage. While there are several factors that determine the interest rate including income, credit score, property type and location, one of the most recent changes is to the type of mortgage being applied for.<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With the changes to mortgage rules in recent years, lenders have had to change how they calculate mortgage rates. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are several different ‘buckets’ a mortgage could fall into, each will come with their own rates. The tiers are broken down into these categories:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><li>Insured Purchase: Borrowers with less than 20% down payments obtain default insurance through CMHC, Genworth or Canada Guaranty. A mortgage insurance premium based on a percentage of the loan is added to the mortgage balance.</li><li>Insured Quick Close: A&nbsp;quick close&nbsp;special is a discounted rate that applies if your purchase is&nbsp;closing&nbsp;in the next 30-45 days.</li><li>Insurable Purchase: These are mortgages where the borrower doesn’t need insurance because they have a down payment of 20% or greater but would still qualify for mortgage insurance. Often lenders will get their own insurance on a large number of mortgages as a bundle. Interest rates could fluctuate depending on the amount of your down payment with 35% or more getting even better rates.</li><li>Uninsurable: These mortgages don’t meet mortgage insurance rules for any number of reasons. Perhaps the mortgage is for a rental property or has an amortization of more than 25 years, for example. No insurance premium is required on these mortgages but there’s more risk for the lender and they’ll therefore charge a higher interest rate.</li><li>Refinance: If you already own your home and you’re looking to refinance to either change the payment amount or take out equity up to 80% of the value of your home then your interest rate could differ from those purchasing.</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Insured mortgages are the safest type of loan for lenders because they’re compensated if the mortgage goes into default. They are also the most cost-effective way of lending mortgage money, so borrowers seeking an insured mortgage will get the best rate. Insurable mortgages typically get the second-best rate available (and it’s a close second).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insured and insurable mortgages can be bundled as Mortgage Backed Securities. Banks can sell these securities to recoup their money, allowing them to relend it immediately.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Banks have to lend their own money and hold the mortgage for the full term when offering uninsurable mortgages. This makes it more expensive for the lender and that cost is passed on to the borrower in the form of a premium on the mortgage rate, anywhere between .1 to .5 per cent higher interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In short, because lenders are required to follow new rules on how they lend while still remaining competitive, interest rates are highly customized to the applicant based on the credit scores, type of mortgage, property specifics and loan amount. I often tell clients that mortgage rates are now very much like car insurance rates and not everyone pays the same. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re considering purchasing a home or refinancing to reduce your monthly payment or take out equity, it’s a good idea to have your options reviewed by a licensed expert. Contact <a href=\"mailto:steve@stevewhitemortgages.ca\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Steve White (opens in a new tab)\">Steve White</a> and he’ll help you find the best option for your specific situation.</p>\n<!-- /wp:paragraph -->','How Down Payment Affects Your Mortgage Rate','','publish','closed','open','','how-down-payment-affects-your-mortgage-rate','','','2019-05-06 14:01:50','2019-05-06 14:01:50','',0,'https://www.stevewhitemortgages.ca/?p=5580',0,'post','',0),(5581,1,'2019-05-06 14:01:31','2019-05-06 14:01:31','','rate','','inherit','closed','closed','','rate','','','2019-05-06 14:01:31','2019-05-06 14:01:31','',5580,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/05/rate.jpg',0,'attachment','image/jpeg',0),(5582,1,'2019-05-06 14:01:45','2019-05-06 14:01:45','<!-- wp:paragraph -->\n<p>“But my brother got 3.35% with his bank, why can’t I have that?”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That’s a common question I hear from home buyers and owners looking for a new mortgage. While there are several factors that determine the interest rate including income, credit score, property type and location, one of the most recent changes is to the type of mortgage being applied for.<br></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With the changes to mortgage rules in recent years, lenders have had to change how they calculate mortgage rates. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are several different ‘buckets’ a mortgage could fall into, each will come with their own rates. The tiers are broken down into these categories:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><li>Insured Purchase: Borrowers with less than 20% down payments obtain default insurance through CMHC, Genworth or Canada Guaranty. A mortgage insurance premium based on a percentage of the loan is added to the mortgage balance.</li><li>Insured Quick Close: A&nbsp;quick close&nbsp;special is a discounted rate that applies if your purchase is&nbsp;closing&nbsp;in the next 30-45 days.</li><li>Insurable Purchase: These are mortgages where the borrower doesn’t need insurance because they have a down payment of 20% or greater but would still qualify for mortgage insurance. Often lenders will get their own insurance on a large number of mortgages as a bundle. Interest rates could fluctuate depending on the amount of your down payment with 35% or more getting even better rates.</li><li>Uninsurable: These mortgages don’t meet mortgage insurance rules for any number of reasons. Perhaps the mortgage is for a rental property or has an amortization of more than 25 years, for example. No insurance premium is required on these mortgages but there’s more risk for the lender and they’ll therefore charge a higher interest rate.</li><li>Refinance: If you already own your home and you’re looking to refinance to either change the payment amount or take out equity up to 80% of the value of your home then your interest rate could differ from those purchasing.</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Insured mortgages are the safest type of loan for lenders because they’re compensated if the mortgage goes into default. They are also the most cost-effective way of lending mortgage money, so borrowers seeking an insured mortgage will get the best rate. Insurable mortgages typically get the second-best rate available (and it’s a close second).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insured and insurable mortgages can be bundled as Mortgage Backed Securities. Banks can sell these securities to recoup their money, allowing them to relend it immediately.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Banks have to lend their own money and hold the mortgage for the full term when offering uninsurable mortgages. This makes it more expensive for the lender and that cost is passed on to the borrower in the form of a premium on the mortgage rate, anywhere between .1 to .5 per cent higher interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In short, because lenders are required to follow new rules on how they lend while still remaining competitive, interest rates are highly customized to the applicant based on the credit scores, type of mortgage, property specifics and loan amount. I often tell clients that mortgage rates are now very much like car insurance rates and not everyone pays the same. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re considering purchasing a home or refinancing to reduce your monthly payment or take out equity, it’s a good idea to have your options reviewed by a licensed expert. Contact <a href=\"mailto:steve@stevewhitemortgages.ca\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Steve White (opens in a new tab)\">Steve White</a> and he’ll help you find the best option for your specific situation.</p>\n<!-- /wp:paragraph -->','How Down Payment Affects Your Mortgage Rate','','inherit','closed','closed','','5580-revision-v1','','','2019-05-06 14:01:45','2019-05-06 14:01:45','',5580,'https://www.stevewhitemortgages.ca/2019/05/5580-revision-v1/',0,'revision','',0),(5586,1,'2019-05-08 19:18:21','2019-05-08 19:18:21','<!-- wp:shortcode -->\n[captainform id=\"1262863\"]\n<!-- /wp:shortcode -->','Get Pre-Approved Before Rates Go Back UP','','inherit','closed','closed','','5569-autosave-v1','','','2019-05-08 19:18:21','2019-05-08 19:18:21','',5569,'https://www.stevewhitemortgages.ca/2019/05/5569-autosave-v1/',0,'revision','',0),(5584,1,'2019-05-08 19:17:40','2019-05-08 19:17:40','<!-- wp:shortcode -->\n[captainform id=\"1262863\"]\n<!-- /wp:shortcode -->','Get Pre-Approved Before Rates Go Back UP','','inherit','closed','closed','','5569-revision-v1','','','2019-05-08 19:17:40','2019-05-08 19:17:40','',5569,'https://www.stevewhitemortgages.ca/2019/05/5569-revision-v1/',0,'revision','',0),(5587,1,'2019-05-08 19:46:46','2019-05-08 19:46:46','<!-- wp:shortcode -->\n[captainform id=\"1273521\"]\n<!-- /wp:shortcode -->','Cash Out Refinance Program Now Available','','publish','closed','closed','','mortgage-qualifying-inquiry-2','','','2019-05-08 19:53:18','2019-05-08 19:53:18','',0,'https://www.stevewhitemortgages.ca/?page_id=5587',0,'page','',0),(5588,1,'2019-05-08 19:46:46','2019-05-08 19:46:46','<!-- wp:shortcode -->\n[captainform id=\"1273521\"]\n<!-- /wp:shortcode -->','Cash Out Refinance Program Now Available','','inherit','closed','closed','','5587-revision-v1','','','2019-05-08 19:46:46','2019-05-08 19:46:46','',5587,'https://www.stevewhitemortgages.ca/2019/05/5587-revision-v1/',0,'revision','',0),(5590,1,'2019-05-08 20:28:56','2019-05-08 20:28:56','\"test to me\".','test to me','','inherit','closed','closed','','test-to-me','','','2019-05-08 20:28:56','2019-05-08 20:28:56','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/05/test-to-me.wav',0,'attachment','audio/wav',0),(5591,1,'2019-05-08 23:38:19','2019-05-08 23:38:19','<!-- wp:shortcode -->\n[captainform id=\"1273521\"]\n<!-- /wp:shortcode -->','Cash Out Refinance Program Now Available','','inherit','closed','closed','','5587-autosave-v1','','','2019-05-08 23:38:19','2019-05-08 23:38:19','',5587,'https://www.stevewhitemortgages.ca/2019/05/5587-autosave-v1/',0,'revision','',0),(5592,1,'2019-05-13 18:16:19','2019-05-13 18:16:19','<!-- wp:paragraph -->\n<p>Did you know that according to CMHC, six out of 10 Canadian homeowners break their mortgage on or before the third year of a five-year mortgage? </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That means that 60% of homeowners break their mortgage before it’s due and while very few expected to have to the ones who planned ahead saved themselves thousands of dollars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>They often need to break a mortgage for a variety of reasons but the most common ways that I see are:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Sale and purchase of a new home</li><li>To take equity out/refinance</li><li>Divorce</li><li>Health challenges or life circumstances change</li><li>Company/job transfer</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Regardless of the reason, breaking a mortgage means you\'re breaking a contract and there will be a fee involved. How that looks varies widely between lenders, but there are two types of penalties:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Set penalty</strong> - this is typically a fee equal to three months of the interest payments and is typically found in a variable rate mortgage or offered by some lenders available only through a mortgage broker.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Interest Rate Differential</strong> - this fee is calculated by factoring the difference between your mortgage interest rate, the interest rate that the lender can charge today and the length of time remaining in your term.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That generally sounds complicated enough, but to throw a major wrench into the calculation <strong>it\'s important to know that lenders calculate things differently</strong>. Some will compare your current rate to what they are currently offering and some lenders will calculated it compared to a much higher posted rate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Let\'s see how these two calculations can mean a difference of over $10,000!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><em><strong>Lender A</strong></em> offers a mortgage with an Interest Rate Differential penalty. The interest rate is 2.89% with a penalty calculated on current rates at the time you need to break the mortgage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If after 3 years you break your mortgage at at that time the interest rate they\'re offering is 3.35%. That gives you an IRD of .46% x 2 years remaining. That\'s .92% multiplied by the remaining mortgage balance. A $300,000 mortgage would have <strong>a penalty of $1,380</strong>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong><em>Lender B</em></strong> offers a mortgage with an Interest Rate Differential penalty but calculated on their posted rates. In this case it may be offering new clients an interest rate of 3.35%, but their posted rate is 4.89% based on the Bank of Canada posted rate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In this same scenario of breaking a $300,000 mortgage after three years would have an IRD of 2% x 2 years remaining. The total <strong>penalty would be $12,000</strong>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While no one really plans to break their mortgage before the 5-year term, no one really plans a divorce, health issues or needing to sell their home and move.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It\'s important to work with an independent mortgage broker who can not only help you find a great interest rate, but will also protect you from high hidden fees when life happens.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A good mortgage broker ensures you\'re paying the least amount of interest and that doesn\'t always mean the lowest interest rate a bank is showing you. Email <a href=\"mailto:steve@stevewhitemortgages.ca\">Steve White</a> or call 905.903.4799 to find out how he can help you with your home purchase or refinance.</p>\n<!-- /wp:paragraph -->','Just plan ahead to break your mortgage','','publish','closed','open','','just-plan-ahead-to-break-your-mortgage','','','2019-05-13 18:16:27','2019-05-13 18:16:27','',0,'https://www.stevewhitemortgages.ca/?p=5592',0,'post','',0),(5593,1,'2019-05-13 18:15:12','2019-05-13 18:15:12','','IRD','','inherit','closed','closed','','ird','','','2019-05-13 18:15:12','2019-05-13 18:15:12','',5592,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/05/IRD.jpg',0,'attachment','image/jpeg',0),(5594,1,'2019-05-13 18:16:19','2019-05-13 18:16:19','<!-- wp:paragraph -->\n<p>Did you know that according to CMHC, six out of 10 Canadian homeowners break their mortgage on or before the third year of a five-year mortgage? </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That means that 60% of homeowners break their mortgage before it’s due and while very few expected to have to the ones who planned ahead saved themselves thousands of dollars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>They often need to break a mortgage for a variety of reasons but the most common ways that I see are:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Sale and purchase of a new home</li><li>To take equity out/refinance</li><li>Divorce</li><li>Health challenges or life circumstances change</li><li>Company/job transfer</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Regardless of the reason, breaking a mortgage means you\'re breaking a contract and there will be a fee involved. How that looks varies widely between lenders, but there are two types of penalties:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Set penalty</strong> - this is typically a fee equal to three months of the interest payments and is typically found in a variable rate mortgage or offered by some lenders available only through a mortgage broker.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Interest Rate Differential</strong> - this fee is calculated by factoring the difference between your mortgage interest rate, the interest rate that the lender can charge today and the length of time remaining in your term.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That generally sounds complicated enough, but to throw a major wrench into the calculation <strong>it\'s important to know that lenders calculate things differently</strong>. Some will compare your current rate to what they are currently offering and some lenders will calculated it compared to a much higher posted rate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Let\'s see how these two calculations can mean a difference of over $10,000!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><em><strong>Lender A</strong></em> offers a mortgage with an Interest Rate Differential penalty. The interest rate is 2.89% with a penalty calculated on current rates at the time you need to break the mortgage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If after 3 years you break your mortgage at at that time the interest rate they\'re offering is 3.35%. That gives you an IRD of .46% x 2 years remaining. That\'s .92% multiplied by the remaining mortgage balance. A $300,000 mortgage would have <strong>a penalty of $1,380</strong>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong><em>Lender B</em></strong> offers a mortgage with an Interest Rate Differential penalty but calculated on their posted rates. In this case it may be offering new clients an interest rate of 3.35%, but their posted rate is 4.89% based on the Bank of Canada posted rate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In this same scenario of breaking a $300,000 mortgage after three years would have an IRD of 2% x 2 years remaining. The total <strong>penalty would be $12,000</strong>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While no one really plans to break their mortgage before the 5-year term, no one really plans a divorce, health issues or needing to sell their home and move.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It\'s important to work with an independent mortgage broker who can not only help you find a great interest rate, but will also protect you from high hidden fees when life happens.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A good mortgage broker ensures you\'re paying the least amount of interest and that doesn\'t always mean the lowest interest rate a bank is showing you. Email <a href=\"mailto:steve@stevewhitemortgages.ca\">Steve White</a> or call 905.903.4799 to find out how he can help you with your home purchase or refinance.</p>\n<!-- /wp:paragraph -->','Just plan ahead to break your mortgage','','inherit','closed','closed','','5592-revision-v1','','','2019-05-13 18:16:19','2019-05-13 18:16:19','',5592,'https://www.stevewhitemortgages.ca/2019/05/5592-revision-v1/',0,'revision','',0),(5596,1,'2019-06-03 18:14:30','2019-06-03 18:14:30','<!-- wp:paragraph -->\n<p> You’ve got your down payment together and you’ve found a great house that you just need. All you have to do now is secure a mortgage and you’re good to go. You know you have a good credit score and your job is secure, but that doesn’t necessarily guarantee approval. <br> Here are four things you should not do while waiting on your mortgage approval. These actions could lead to your mortgage application being denied:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><li>Don’t change jobs<br> There are plenty of reasons good and bad to change jobs, but changing jobs while waiting on a mortgage approval is a risky proposal as a change in employment could lead to your application being denied. If considering a change in your work situation, speak with your mortgage professional and remember to consider the following factors:<br> •    If your new income will include regular bonuses, overtime or commissions, your application may be put on hold. Perks like these require a two-year history before they can be considered income.<br> •    Speaking of two-year income histories, that’s what lenders need from self-employed people as well. If you’re going into business for yourself, your mortgage will have to wait.<br> •    If you can’t stand your job and want to quit, don’t! Employment information is an important part of the application. If you absolutely must leave your job, you’re better off waiting until you’ve closed on the new house.<br> •    If you’re offered a job, ask if it has a probationary period. No mortgage lender will approve an application that relies on probationary employment.</li><li>Don’t buy a car<br> Your car may die. You may find a great deal that’s hard to pass up. Either way, check in your mortgage broker before making a final decision on a new vehicle. If the numbers on your application don’t match the reality, your application may be in jeopardy.</li><li>Don’t make any changes to your credit <br> Have a bit of extra cash on hand and want to pay down a debt? Think it’d be a good idea to change your payment schedule on pre-existing debt? Check with your mortgage professional before doing anything of the sort. Changing any credit-related info can affect how your application is received.</li><li>Pay your bills on time<br> Make sure to pay your bills on time (or early!) while waiting for your mortgage approval. A late payment can affect your credit score and that can have a big effect on whether your application is approved or not.<br> Getting approved for a mortgage doesn’t have to be hard. If you do your research and follow the rules, you’re on the right path. <a href=\"mailto:steve@stevewhitemortgages.ca\">Contact Steve White</a> for more information and he’ll help you stay on the path to mortgage approval and home ownership.</li></ol>\n<!-- /wp:list -->','How to keep your mortgage application in good shape','','publish','closed','open','','how-to-keep-your-mortgage-application-in-good-shape','','','2019-06-03 18:14:48','2019-06-03 18:14:48','',0,'https://www.stevewhitemortgages.ca/?p=5596',0,'post','',0),(5597,1,'2019-06-03 18:13:31','2019-06-03 18:13:31','','mortgageapproval','','inherit','closed','closed','','mortgageapproval','','','2019-06-03 18:13:31','2019-06-03 18:13:31','',5596,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/06/mortgageapproval.jpg',0,'attachment','image/jpeg',0),(5598,1,'2019-06-03 18:14:30','2019-06-03 18:14:30','<!-- wp:paragraph -->\n<p> You’ve got your down payment together and you’ve found a great house that you just need. All you have to do now is secure a mortgage and you’re good to go. You know you have a good credit score and your job is secure, but that doesn’t necessarily guarantee approval. <br> Here are four things you should not do while waiting on your mortgage approval. These actions could lead to your mortgage application being denied:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><li>Don’t change jobs<br> There are plenty of reasons good and bad to change jobs, but changing jobs while waiting on a mortgage approval is a risky proposal as a change in employment could lead to your application being denied. If considering a change in your work situation, speak with your mortgage professional and remember to consider the following factors:<br> •    If your new income will include regular bonuses, overtime or commissions, your application may be put on hold. Perks like these require a two-year history before they can be considered income.<br> •    Speaking of two-year income histories, that’s what lenders need from self-employed people as well. If you’re going into business for yourself, your mortgage will have to wait.<br> •    If you can’t stand your job and want to quit, don’t! Employment information is an important part of the application. If you absolutely must leave your job, you’re better off waiting until you’ve closed on the new house.<br> •    If you’re offered a job, ask if it has a probationary period. No mortgage lender will approve an application that relies on probationary employment.</li><li>Don’t buy a car<br> Your car may die. You may find a great deal that’s hard to pass up. Either way, check in your mortgage broker before making a final decision on a new vehicle. If the numbers on your application don’t match the reality, your application may be in jeopardy.</li><li>Don’t make any changes to your credit <br> Have a bit of extra cash on hand and want to pay down a debt? Think it’d be a good idea to change your payment schedule on pre-existing debt? Check with your mortgage professional before doing anything of the sort. Changing any credit-related info can affect how your application is received.</li><li>Pay your bills on time<br> Make sure to pay your bills on time (or early!) while waiting for your mortgage approval. A late payment can affect your credit score and that can have a big effect on whether your application is approved or not.<br> Getting approved for a mortgage doesn’t have to be hard. If you do your research and follow the rules, you’re on the right path. <a href=\"mailto:steve@stevewhitemortgages.ca\">Contact Steve White</a> for more information and he’ll help you stay on the path to mortgage approval and home ownership.</li></ol>\n<!-- /wp:list -->','How to keep your mortgage application in good shape','','inherit','closed','closed','','5596-revision-v1','','','2019-06-03 18:14:30','2019-06-03 18:14:30','',5596,'https://www.stevewhitemortgages.ca/2019/06/5596-revision-v1/',0,'revision','',0),(5600,1,'2019-08-01 13:56:52','2019-08-01 13:56:52','','KChalovich_07195','','inherit','closed','closed','','kchalovich_07195','','','2019-08-01 13:56:52','2019-08-01 13:56:52','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2019/08/KChalovich_07195.jpg',0,'attachment','image/jpeg',0),(5602,1,'2020-01-27 21:25:33','2020-01-27 21:25:33','','NHS-Digital-Ad','','inherit','closed','closed','','nhs-digital-ad','','','2020-01-27 21:25:33','2020-01-27 21:25:33','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2020/01/NHS-Digital-Ad.gif',0,'attachment','image/gif',0),(5603,1,'2020-01-27 22:01:06','2020-01-27 22:01:06','','ad2020','','inherit','closed','closed','','ad2020','','','2020-01-27 22:01:06','2020-01-27 22:01:06','',0,'https://www.stevewhitemortgages.ca/wp-content/uploads/2020/01/ad2020.png',0,'attachment','image/png',0);

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--

INSERT INTO `105_users` VALUES (1,'stevewhite','$P$BNz.Ijo8auak9pt9og/Uy1ZACUVvEK0','stevewhite','steve.white@me.com','','2017-03-26 01:31:59','',0,'stevewhite'),(2,'Steve White','$P$BiCIVZiHfNzYroLs7ZWnOxXXUQtySQ.','steve-white','','','2017-03-26 01:51:02','',0,'Steve White'),(3,'admin','$P$BkxIuzlCiW32czrug1l4Jgh0WBIJch0','admin','steve@oemp.ca','','2019-01-29 19:14:15','',0,'admin');

--
-- Table structure for table `105_wpdevart_calendars`
--

CREATE TABLE `105_wpdevart_calendars` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `user_id` int(11) NOT NULL,
  `title` varchar(128) NOT NULL,
  `hours_enabled` varchar(3) NOT NULL,
  `hours_interval_enabled` varchar(3) NOT NULL,
  `theme_id` int(11) NOT NULL,
  `form_id` int(11) NOT NULL,
  `extra_id` int(11) NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=MyISAM AUTO_INCREMENT=2 DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wpdevart_calendars`
--

INSERT INTO `105_wpdevart_calendars` VALUES (1,1,'Calendar','','',1,1,0);

--
-- Table structure for table `105_wpdevart_dates`
--

CREATE TABLE `105_wpdevart_dates` (
  `unique_id` varchar(32) NOT NULL,
  `calendar_id` int(11) NOT NULL,
  `day` varchar(16) NOT NULL,
  `data` text NOT NULL,
  PRIMARY KEY (`unique_id`)
) ENGINE=MyISAM DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wpdevart_dates`
--


--
-- Table structure for table `105_wpdevart_extras`
--

CREATE TABLE `105_wpdevart_extras` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `title` varchar(32) NOT NULL,
  `data` text NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=MyISAM AUTO_INCREMENT=2 DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wpdevart_extras`
--

INSERT INTO `105_wpdevart_extras` VALUES (1,'Extra','{\"extra_field1\":{\"name\":\"extra_field1\",\"label\":\"Adults\",\"required\":\"on\",\"items\":{\"field_item1\":{\"name\":\"field_item1\",\"label\":\"1\",\"operation\":\"+\",\"price_type\":\"price\",\"price_percent\":\"0\"},\"field_item2\":{\"name\":\"field_item2\",\"label\":\"2\",\"operation\":\"+\",\"price_type\":\"price\",\"price_percent\":\"0\"},\"field_item3\":{\"name\":\"field_item3\",\"label\":\"3\",\"operation\":\"+\",\"price_type\":\"price\",\"price_percent\":\"0\"},\"field_item4\":{\"name\":\"field_item4\",\"label\":\"4\",\"operation\":\"+\",\"price_type\":\"price\",\"price_percent\":\"0\"}}},\"extra_field2\":{\"name\":\"extra_field2\",\"label\":\"Children \",\"items\":{\"field_item1\":{\"name\":\"field_item1\",\"label\":\"1\",\"operation\":\"+\",\"price_type\":\"price\",\"price_percent\":\"0\"},\"field_item2\":{\"name\":\"field_item2\",\"label\":\"2\",\"operation\":\"+\",\"price_type\":\"price\",\"price_percent\":\"0\"},\"field_item3\":{\"name\":\"field_item3\",\"label\":\"3\",\"operation\":\"+\",\"price_type\":\"price\",\"price_percent\":\"0\"},\"field_item4\":{\"name\":\"field_item4\",\"label\":\"4\",\"operation\":\"+\",\"price_type\":\"price\",\"price_percent\":\"0\"}}}}');

--
-- Table structure for table `105_wpdevart_forms`
--

CREATE TABLE `105_wpdevart_forms` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `title` varchar(32) NOT NULL,
  `data` text NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=MyISAM AUTO_INCREMENT=2 DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wpdevart_forms`
--

INSERT INTO `105_wpdevart_forms` VALUES (1,'Form','{\"apply\":\"Apply\",\"form_field1\":{\"type\":\"text\",\"name\":\"form_field1\",\"label\":\"First Name\",\"required\":\"on\"},\"form_field2\":{\"type\":\"text\",\"name\":\"form_field2\",\"label\":\"Last Name\"},\"form_field3\":{\"type\":\"text\",\"name\":\"form_field3\",\"label\":\"Email\",\"required\":\"on\",\"isemail\":\"on\"},\"form_field4\":{\"type\":\"text\",\"name\":\"form_field4\",\"label\":\"Phone\",\"required\":\"on\"},\"form_field5\":{\"type\":\"textarea\",\"name\":\"form_field5\",\"label\":\"Message\",\"required\":\"on\"}}');

--
-- Table structure for table `105_wpdevart_payments`
--

CREATE TABLE `105_wpdevart_payments` (
  `pay_id` int(11) NOT NULL AUTO_INCREMENT,
  `res_id` int(11) NOT NULL,
  `payment_price` float NOT NULL,
  `tax` float NOT NULL,
  `pay_status` varchar(20) NOT NULL,
  `ip` varchar(32) NOT NULL,
  `ipn` varchar(32) NOT NULL,
  `payment_address` varchar(350) NOT NULL,
  `payment_info` text NOT NULL,
  `modified_date` varchar(20) NOT NULL,
  PRIMARY KEY (`pay_id`)
) ENGINE=MyISAM DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wpdevart_payments`
--


--
-- Table structure for table `105_wpdevart_reservations`
--

CREATE TABLE `105_wpdevart_reservations` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `calendar_id` int(11) NOT NULL,
  `single_day` varchar(16) NOT NULL,
  `check_in` varchar(16) NOT NULL,
  `check_out` varchar(16) NOT NULL,
  `start_hour` varchar(16) NOT NULL,
  `end_hour` varchar(16) NOT NULL,
  `currency` varchar(32) NOT NULL,
  `count_item` int(10) NOT NULL,
  `price` float NOT NULL,
  `total_price` float NOT NULL,
  `extras` text NOT NULL,
  `extras_price` float NOT NULL,
  `form` text NOT NULL,
  `address_billing` text NOT NULL,
  `address_shipping` text NOT NULL,
  `email` varchar(128) NOT NULL,
  `status` varchar(16) NOT NULL,
  `payment_method` varchar(32) NOT NULL,
  `payment_status` varchar(32) NOT NULL,
  `date_created` varchar(64) NOT NULL,
  `is_new` int(1) NOT NULL,
  `sale_percent` varchar(16) NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=MyISAM DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wpdevart_reservations`
--


--
-- Table structure for table `105_wpdevart_themes`
--

CREATE TABLE `105_wpdevart_themes` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `title` varchar(32) NOT NULL,
  `value` longtext NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=MyISAM AUTO_INCREMENT=2 DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wpdevart_themes`
--

INSERT INTO `105_wpdevart_themes` VALUES (1,'Theme','{\"title\":\"Theme\",\"date_format\":\"F j, Y\",\"week_days\":\"0\",\"day_start\":\"1\",\"default_year\":\"\",\"default_month\":\"0\",\"cal_animation_type\":\"none\",\"scroll_offset\":\"\",\"show_form\":\"on\",\"type_days_selection\":\"multiple_days\",\"sale_conditions\":{\"count\":[\"\"],\"percent\":[\"\"]},\"min_days\":\"\",\"max_days\":\"\",\"enable_checkinout\":\"on\",\"enable_number_items\":\"on\",\"terms_cond_link\":\"\",\"enable_form_title\":\"on\",\"enable_extras_title\":\"on\",\"legend_enable\":\"on\",\"legend_available_enable\":\"on\",\"legend_available\":\"Available\",\"legend_booked_enable\":\"on\",\"legend_booked\":\"Booked\",\"legend_unavailable_enable\":\"on\",\"legend_unavailable\":\"Unavailable\",\"action_after_submit\":\"stay_on_calendar\",\"message_text\":\"Thanks :)\",\"redirect_url\":\"\",\"custom_css\":\"\",\"currency\":\"USD\",\"currency_pos\":\"after\",\"type_hours_selection\":\"multiple_hours\",\"hours_sale_conditions\":{\"count\":[\"\"],\"percent\":[\"\"]},\"min_hours\":\"\",\"max_hours\":\"\",\"show_hours_info\":\"on\",\"hours\":{\"hour_value\":[\"\"],\"hour_price\":[\"\"],\"hours_marked_price\":[\"\"],\"hours_availability\":[\"available\"],\"hours_number_availability\":[\"\"],\"hour_info\":[\"\"]},\"show_day_info_on_hover\":\"on\",\"days_for_new\":\"30\",\"calendar_max_width\":\"680\",\"calendar_header_font_weight\":\"normal\",\"calendar_header_font_style\":\"normal\",\"calendar_header_padding\":\"10\",\"next_prev_month_size\":\"15\",\"current_month_size\":\"19\",\"current_year_size\":\"19\",\"week_days_font_weight\":\"normal\",\"week_days_font_style\":\"normal\",\"week_days_size\":\"13\",\"day_number_font_weight\":\"normal\",\"day_number_font_style\":\"normal\",\"day_number_size\":\"13\",\"day_availability_font_weight\":\"normal\",\"day_availability_font_style\":\"normal\",\"day_availability_size\":\"13\",\"day_price_font_weight\":\"normal\",\"day_price_font_style\":\"normal\",\"day_price_size\":\"12\",\"days_min_height\":\"65\",\"hours_width\":\"95\",\"hours_height\":\"125\",\"info_font_weight\":\"normal\",\"info_font_style\":\"normal\",\"info_size\":\"13\",\"info_border_radius\":\"\",\"form_title_weight\":\"normal\",\"form_title_style\":\"italic\",\"form_title_size\":\"21\",\"form_labels_weight\":\"normal\",\"form_labels_style\":\"italic\",\"form_labels_size\":\"15\",\"form_fields_weight\":\"normal\",\"form_fields_style\":\"normal\",\"form_fields_size\":\"15\",\"form_submit_weight\":\"normal\",\"form_style_style\":\"normal\",\"reserv_info_weight\":\"normal\",\"reserv_info_style\":\"normal\",\"reserv_info_size\":\"14\",\"widget_day_info_weight\":\"normal\",\"widget_day_info_style\":\"normal\",\"widget_day_info_size\":\"14\",\"load_spinner_color\":\"#464646\",\"calendar_header_bg\":\"#FFFFFF\",\"next_prev_month\":\"#636363\",\"current_month\":\"#636363\",\"current_year\":\"#636363\",\"week_days_bg\":\"#ECECEC\",\"week_days_color\":\"#656565\",\"calendar_bg\":\"#FFFFFF\",\"calendar_border\":\"#ddd\",\"day_bg\":\"#FFFFFF\",\"day_number_bg\":\"#ECECEC\",\"day_color\":\"#464646\",\"day_availability_color\":\"#848484\",\"day_price_color\":\"#848484\",\"available_day_bg\":\"#FFFFFF\",\"available_day_number_bg\":\"#85B70B\",\"available_day_color\":\"#FFFFFF\",\"selected_day_bg\":\"#FFFFFF\",\"selected_day_number_bg\":\"#373740\",\"selected_day_color\":\"#FFFFFF\",\"selected_day_availability_color\":\"#848484\",\"selected_day_price_color\":\"#848484\",\"unavailable_day_bg\":\"#FFFFFF\",\"unavailable_day_number_bg\":\"#464646\",\"unavailable_day_color\":\"#ECECEC\",\"unavailable_day_availability_color\":\"#848484\",\"booked_day_bg\":\"#FFFFFF\",\"booked_day_number_bg\":\"#FD7C93\",\"booked_day_color\":\"#FFFFFF\",\"booked_day_availability_color\":\"#848484\",\"info_icon_color\":\"#FFFFFF\",\"info_bg\":\"#FFFFFF\",\"info_color\":\"#4E4E4E\",\"form_bg\":\"#FDFDFD\",\"form_border\":\"#ddd\",\"form_title_color\":\"#636363\",\"form_title_bg\":\"#FDFDFD\",\"form_labels_color\":\"#636363\",\"form_fields_color\":\"#636363\",\"reserv_info_color\":\"#545454\",\"total_bg\":\"#545454\",\"total_color\":\"#F7F7F7\",\"required_star_color\":\"#FD7C93\",\"submit_button_bg\":\"#FD7C93\",\"submit_button_color\":\"#FFFFFF\",\"error_info_bg\":\"#FFFFFF\",\"error_info_color\":\"#C11212\",\"error_info_border\":\"#C11212\",\"error_info_close_bg\":\"#C11212\",\"error_info_close_color\":\"#FFFFFF\",\"successfully_info_bg\":\"#FFFFFF\",\"successfully_info_color\":\"#7FAD16\",\"successfully_info_border\":\"#7FAD16\",\"successfully_info_close_bg\":\"#7FAD16\",\"successfully_info_close_color\":\"#FFFFFF\",\"widget_day_info_bg\":\"#FFFFFF\",\"widget_day_info_color\":\"#6B6B6B\",\"widget_day_info_border_color\":\"#C7C7C7\",\"use_phpmailer\":\"on\",\"mail_bg\":\"#f3f3f3\",\"mail_content_bg\":\"#FFFFFF\",\"mail_color\":\"#5A5A5A\",\"mail_header_img\":\"\",\"mail_footer_text\":\"Copyrightu00a9 2016\",\"mail_footer_text_color\":\"#a7a7a7\",\"notify_admin_on_book\":\"on\",\"notify_admin_on_book_to\":\"info@info.com\",\"notify_admin_on_book_from\":\"[useremail]\",\"notify_admin_on_book_fromname\":\"\",\"notify_admin_on_book_subject\":\"You received a booking request.\",\"notify_admin_on_book_content\":\"You received a payment. For more details, visit: [moderatelink]\",\"notify_admin_on_approved\":\"on\",\"notify_admin_on_approved_to\":\"info@info.com\",\"notify_admin_on_approved_from\":\"[useremail]\",\"notify_admin_on_approved_fromname\":\"\",\"notify_admin_on_approved_subject\":\"Booking request has been approved.\",\"notify_admin_on_approved_content\":\"Booking request has been approved. For more details, visit: [moderatelink]\",\"notify_admin_paypal_to\":\"sadas@dsd.sd\",\"notify_admin_paypal_from\":\"[useremail]\",\"notify_admin_paypal_fromname\":\"\",\"notify_admin_paypal_subject\":\"You received a booking request.\",\"notify_admin_paypal_content\":\"You received a payment. For more details, visit: [moderatelink]\",\"notify_user_on_book\":\"on\",\"notify_user_on_book_from\":\"info@info.com\",\"notify_user_on_book_fromname\":\"\",\"notify_user_on_book_subject\":\"Your booking request has been sent.\",\"notify_user_on_book_content\":\"Your booking request has been sent.\",\"notify_user_on_approved\":\"on\",\"notify_user_on_approved_from\":\"info@info.com\",\"notify_user_on_approved_fromname\":\"\",\"notify_user_on_approved_subject\":\"Your booking request has been approved\",\"notify_user_on_approved_content\":\"Your booking request has been approved\",\"notify_user_canceled\":\"on\",\"notify_user_canceled_from\":\"info@info.com\",\"notify_user_canceled_fromname\":\"\",\"notify_user_canceled_subject\":\"Your booking request has been canceled\",\"notify_user_canceled_content\":\"Your booking request has been canceled\",\"notify_user_deleted_from\":\"info@info.com\",\"notify_user_deleted_fromname\":\"\",\"notify_user_deleted_subject\":\"Your booking request has been rejected\",\"notify_user_deleted_content\":\"\",\"notify_user_paypal_from\":\"info@info.com\",\"notify_user_paypal_fromname\":\"\",\"notify_user_paypal_subject\":\"Thank you for your purchase\",\"notify_user_paypal_content\":\"Your order has been received. Thank you for your purchase! You will receive an order confirmation by email.\",\"notify_user_paypal_failed_from\":\"info@info.com\",\"notify_user_paypal_failed_fromname\":\"\",\"notify_user_paypal_failed_subject\":\"Payment failed\",\"notify_user_paypal_failed_content\":\"Your payment failed.\",\"for_available\":\"available\",\"for_booked\":\"Booked\",\"for_unavailable\":\"Unavailable\",\"for_check_in\":\"Check in\",\"for_check_out\":\"Check out\",\"for_date\":\"Date\",\"for_no_hour\":\"No hour available.\",\"for_start_hour\":\"Start hour\",\"for_end_hour\":\"End hour\",\"for_hour\":\"Hour\",\"for_item_count\":\"Item count\",\"for_termscond\":\"I accept to agree to the Terms & Conditions.\",\"for_reservation\":\"Reservation\",\"for_select_days\":\"Please select the days from calendar.\",\"for_price\":\"Price\",\"for_total\":\"Total\",\"for_submit_button\":\"Book Now\",\"for_request_successfully_sent\":\"Your request has been successfully sent. Please wait for approval.\",\"for_request_successfully_received\":\"Your request has been successfully received. We are waiting you!\",\"for_error_single\":\"There are no services available for this day.\",\"for_error_multi\":\"There are no services available for the period you selected.\",\"for_night\":\"You must select at least two days\",\"for_min\":\"You must select at least [min] days\",\"for_max\":\"You must select  lower than [max] days\",\"for_min_hour\":\"You must select at least [min] hours\",\"for_max_hour\":\"You must select  lower than [max] hours\",\"for_capcha\":\"Was not verified by recaptcha\",\"for_pay_in_cash\":\"Pay in cash\",\"for_payPal\":\"Pay with PayPal\",\"for_shipping_info\":\"Same as billing info\",\"for_notify_admin_on_book\":\"Email on book to administrator does not send\",\"for_notify_admin_on_approved\":\"Email on approved to administrator does not send\",\"for_notify_user_on_book\":\"Email on book to user does not send\",\"for_notify_user_on_approved\":\"Email on approved to user does not send\",\"for_notify_user_canceled\":\"Email on canceled to user does not send\",\"for_notify_user_deleted\":\"Email on delete to user does not send\",\"billing_address_form\":\"1\",\"shipping_address_form\":\"1\",\"redirect_url_successful\":\"\",\"tax\":\"\",\"payment_mode\":\"sandbox\",\"payPal_email\":\"\",\"payPal_image\":\"http://www.stevewhitemortgages.ca/wp-content/plugins/booking-calendar//css/images/paynow.png\",\"button_action\":\"apply\",\"task\":\"save\",\"id\":\"0\"}');

--
-- Table structure for table `105_wplc_chat_msgs`
--

CREATE TABLE `105_wplc_chat_msgs` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `chat_sess_id` int(11) NOT NULL,
  `msgfrom` varchar(150) NOT NULL,
  `msg` longtext NOT NULL,
  `timestamp` datetime NOT NULL,
  `status` int(3) NOT NULL,
  `originates` int(3) NOT NULL,
  `other` longtext NOT NULL,
  `rel` varchar(40) NOT NULL,
  `afrom` int(10) NOT NULL,
  `ato` int(10) NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=InnoDB AUTO_INCREMENT=3 DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wplc_chat_msgs`
--

INSERT INTO `105_wplc_chat_msgs` VALUES (1,1,'stevewhite','Hi, I have a mortgage question','2018-01-31 14:39:16',0,2,'a:1:{s:3:\"aid\";i:1;}','1517409555652',0,0),(2,1,'Admin','Thanks for joining, how can I help?','2018-01-31 14:44:12',1,1,'a:1:{s:3:\"aid\";s:1:\"1\";}','1517409851666',0,0);

--
-- Table structure for table `105_wplc_chat_sessions`
--

CREATE TABLE `105_wplc_chat_sessions` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `timestamp` datetime NOT NULL,
  `name` varchar(700) NOT NULL,
  `email` varchar(700) NOT NULL,
  `ip` varchar(700) NOT NULL,
  `status` int(11) NOT NULL,
  `session` varchar(100) NOT NULL,
  `url` varchar(700) NOT NULL,
  `last_active_timestamp` datetime NOT NULL,
  `agent_id` int(11) NOT NULL,
  `other` longtext NOT NULL,
  `rel` varchar(40) NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=InnoDB AUTO_INCREMENT=2 DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wplc_chat_sessions`
--

INSERT INTO `105_wplc_chat_sessions` VALUES (1,'2018-01-31 14:39:05','stevewhite','steve.white@me.com','a:2:{s:2:\"ip\";s:12:\"216.58.36.69\";s:10:\"user_agent\";s:121:\"Mozilla/5.0 (Macintosh; Intel Mac OS X 10_13_2) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/63.0.3239.132 Safari/537.36\";}',1,'1517409527314','http://www.stevewhitemortgages.ca/','2018-01-31 14:44:12',1,'a:2:{s:10:\"unanswered\";b:1;s:3:\"aid\";i:1;}','S17WH8yUM_1517409531315');

--
-- Table structure for table `105_wplc_offline_messages`
--

CREATE TABLE `105_wplc_offline_messages` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `timestamp` datetime NOT NULL,
  `name` varchar(700) NOT NULL,
  `email` varchar(700) NOT NULL,
  `message` varchar(700) NOT NULL,
  `ip` varchar(700) NOT NULL,
  `user_agent` varchar(700) NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=InnoDB DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wplc_offline_messages`
--


--
-- Table structure for table `105_wplc_webhooks`
--

CREATE TABLE `105_wplc_webhooks` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `url` varchar(700) DEFAULT NULL,
  `push_to_devices` tinyint(1) DEFAULT NULL,
  `action` int(11) DEFAULT NULL,
  `method` varchar(70) DEFAULT NULL,
  PRIMARY KEY (`id`)
) ENGINE=InnoDB DEFAULT CHARSET=utf8;

--
-- Dumping data for table `105_wplc_webhooks`
--


--
-- Table structure for table `105_yoast_seo_links`
--

CREATE TABLE `105_yoast_seo_links` (
  `id` bigint(20) unsigned NOT NULL AUTO_INCREMENT,
  `url` varchar(255) COLLATE utf8mb4_unicode_520_ci NOT NULL,
  `post_id` bigint(20) unsigned NOT NULL,
  `target_post_id` bigint(20) unsigned NOT NULL,
  `type` varchar(8) COLLATE utf8mb4_unicode_520_ci NOT NULL,
  PRIMARY KEY (`id`),
  KEY `link_direction` (`post_id`,`type`)
) ENGINE=MyISAM AUTO_INCREMENT=123 DEFAULT CHARSET=utf8mb4 COLLATE=utf8mb4_unicode_520_ci;

--
-- Dumping data for table `105_yoast_seo_links`
--

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--
-- Table structure for table `105_yoast_seo_meta`
--

CREATE TABLE `105_yoast_seo_meta` (
  `object_id` bigint(20) unsigned NOT NULL,
  `internal_link_count` int(10) unsigned DEFAULT NULL,
  `incoming_link_count` int(10) unsigned DEFAULT NULL,
  UNIQUE KEY `object_id` (`object_id`)
) ENGINE=MyISAM DEFAULT CHARSET=utf8mb4 COLLATE=utf8mb4_unicode_520_ci;

--
-- Dumping data for table `105_yoast_seo_meta`
--

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