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Increasing Your Buyer's Affordability

Updated: Oct 20, 2022

Speakers - Tina Gardin, Hugo Dos Reis & Tyler Lipinski with Vine Group, and Jacquie Knowles with JMK Law.

Tina hosted an open dialogue, café-styled discussion with SQ Strategic lending partner, Vine Group, and legal partner, JMK Law. They discussed important financing topics such as:

  • Utilizing niche and "B" lenders

  • How to avoid stress test rules to maximize borrowing power for your clients

  • Vendor Takebacks mortgages

Below is a collection of notes or points we thought were important takeaways from this meeting. We highly encourage attendance to all of our events as they always contain valuable information for personal and/or business development.

How do you talk to your clients about the rate hikes?
  • Benjamin Tal, the Deputy Chief Economist at CIBC, recently did a presentation in Vancouver.

    • There's a record number of immigrants coming to Canada, ~400,000.

    • Most of them will come to Southern Ontario

    • Lack of housing - does not meet the demand.

  • Consumers seem to be over-reacting to the rate hikes

  • The opportunity to buyer is now - home prices are discounted and creative financing solutions are available

  • Rates that your clients are getting offered online are often misleading with many caveats

  • What's the best rate?

    • Answer is there is no best rate, but instead what is the best solution for your client.

Understanding Mortgage Qualifications
  • Option 1: A-lender qualify at contract rate +2%

    • Hard rule for all the banks

  • Option 2: B-lender qualify at contract rate +2% but lenders allow extended ratios (allow you to borrow higher % of your income)

    • Will look at actual income instead of reported income

    • Usually best option for self-employed clients

    • Typically charge your client fee of 1%

  • Option 3: Credit unions can qualify at only contract rate

    • Regulated provincially instead of federally

    • Very under-utilized

    • Normally services local communities better than a bank

Vendor Take-Back (VTB) Mortgages
  • Very common in commercial deals but also applicable in residential sale

  • For more info on what a VTB is and how to utilize it, click the link below:

Date the Rate | Marry the Home

We recommend downloading and sharing below images on your social media to educate your sphere & generate leads.

The real estate market has shifted - prices are down, and rates are up, but this is one of the best times to purchase a home. Even though rates are at historical highs, the average real estate cost has decreased, making the actual monthly payments the same or even lower. With lower real estate values, you are also benefitting from paying below market values with the trade-off of higher temporary rates.


Contact Info

For mortgage referrals & inquiries, reach out to Tyler:

Tyler Lipinski, Mortgage Agent

Tel: (647) 868-1427


For legal referrals & inquiries, reach out to Jacquie:

Jacqueline Knowles

Tel: (905) 890-1800 ext. 308

Fax: (905) 890-8400


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