Trusted Tips and Resources

Trusted Tips & Resources

Trusted Saskatoon Mortgage Broker: Tammy Wandzura explains the Mortgage Approval Process

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura is a Trusted Saskatoon Mortgage broker and the team at Elite Mortgage Choice, Saskatoon believes that buying a home should also be an exciting experience with little to NO stress. By trusting your Saskatoon mortgage broker, you are ensuring that any stress you may have had in previous encounters can be eliminated! 

Mortgage Approval Process

Being READY, ORGANIZED and ENGAGED are the keys to a successful Mortgage Approval process.

We are here to walk you through the steps from PREAPPROVAL to POSSESSION date so that you have the information you need to make big decisions in a timely manner.


  • As your Mortgage Broker, we are here to do a full pre-qualification.
  • We ensure you have ALL of the information you need to make informed decisions about the largest purchase and investment you will ever make.
  • We are Provincially legislated to work in your best interests.
  • There is no cost to using our services.
  • We are knowledgeable about everything related to mortgages, including any new mortgage rules or requirements that may impact your decisions.
  • We review your file and find the best lenders, rates, terms and conditions that meet your current and future financial goals.
  • We are speedy.  Our response times include evenings and weekends when necessary to keep your file moving in a timely manner.
  • We walk you through every step of the process in an easy to understand manner.
  • We organize the process for you so that the entire experience is exciting and well understood.
  • We really care.  Although most of our process is over the phone and email, we are located locally and we are here for you every single step of the way.

Each applicant will have different information that has to be collected depending on their employment status, length of time at employer, where the downpayment funds are coming from and overall credit health.

We collect ALL of the needed supporting documentation along with a FULL application at the time of pre-approval request.

This ensures that the information we have on file will match what the lender will accept and support once you have an accepted offer in on a home you wish to purchase.


We are here to walk you through each step of ‘the process’.  We are not the bank. We are here to ensure that we structure the application and the mortgage approval request in a way that the lender will support and easily/quickly approve, all while setting up a mortgage that meets your future needs and financial goals.

We make the process as simple as possible.

Our motto is: Mortgages. Simplified.

In saying that there is information you must disclose and paperwork that must be provided in order for us to present the best lender options and rates available on the market.

Unfortunately, we cannot run hypothetical figures based on the information we gather from you over the phone.  We do need a full application and supporting documentation.

We are here to create a success story for you.  The more organized we are in communicating solid information to you; the simpler the process for you. 

Why do we check your credit when you are only asking for a PRE-APPROVAL?

Your credit score is a huge key to the entire mortgage approval process.

The new mortgage rules outlined by the Federal Government in October 2016 made your credit score more important than ever.

Your score and the overall health of your credit will determine what lenders may consider your application, your total maximum purchase price and rate in some cases.

Your credit is important to us!

Our goal is to ensure your credit is healthy and stays healthy through the life of your mortgage (25 years), to ensure we can assist you with your renewal options in the future.

We are happy to provide tips and suggestions to build stronger credit throughout the pre-approval process.

We have a 5-star review on GOOGLE because we treat each transaction like our very own mortgage approval.

Our database has been built from amazingly happy clients that refer our services to their friends, family and colleagues.

We are speedy, knowledgeable in everything related to mortgages and we are able to provide same-day pre-approvals.  

Communication is the single most important part of the entire transaction.  We explain things thoroughly and clearly, in a way that you can understand.

Most important we are always here with you through the process to answer any questions that may come up.

What is the process?

We are dedicated to amazing communication – which includes speedy reply time.

For that reason, we have an amazing process that allows us to move fast even if you have tight timelines to meet.

  • APPLY ONLINE at www.elitemortgagechoice.com
  • This information comes directly to us and allows us to start a file for you
  • We will be in touch with you to fill in any gaps that are unique to your situation
  • We will provide you with a list of paperwork we need to review and add to your file
  • Documents should be sent to us electronically when at all possible
  • We will then provide you with the numbers of your mortgage pre-qualification for your full review
  • We are able to provide referrals to Realtors, Lawyers, Home Inspectors etc (if needed)
Most of our process is done over email, online, phone and fax.  

We are always available via email OR phone 306.933.3386 to answer any questions.

You will be hearing from Tammy (Mortgage Broker), Marie (Tammy’s Executive Assistant) or Brydon (Mortgage Associate) throughout the process of your application.

We can review your information now to prepare you for the future.

Thank you for taking the time to read and educate yourself on what steps you may need to take to consider homeownership.

I am here to work with you every step of the way!


Tammy Wandzura is a Trusted SASKATOON MORTGAGE BROKER  





Trusted Saskatoon Mortgage Experts At Your Mortgage Now Explain Refinancing Your Mortgage with Home Equity

Buying a home is one of the most important and exciting steps in your life.... now that pesky financing! Deal with people who can offer you and your family the best options for you with Your Mortgage Now! Devin Cristo and Wes Will are your Saskatoon Mortgage Experts and they have years of experience helping individuals and families finance their dreams by offering mortgages from a variety of lenders for people from all walks of life. Your Mortgage Now are Trusted Saskatoon Mortgage Experts

How can you Refinance your Mortgage with Home Equity? 

re financing mortgage saskatoon

With spring just around the corner you might be thinking about renovating the house, sprucing up the backyard or even purchasing your first cottage. Refinancing your mortgage may allow you to find the money that you need for these aspirations.

The first thing that you have to consider is how much equity has built up in your home since you started paying down your mortgage. Your home equity – your home’s value minus the balance of your mortgage – is available for you to withdraw and invest in a number of ways, including home renovations, additional real estate, post secondary education and much more. Has the property value increased? Decreased? You can obtain a realistic figure by getting a market evaluation on your home. By multiplying your current market value by 80% this should give you an idea of how much you would be able to borrow for your new project.

The second thing is to look at different options when it comes to realizing your goals and every individual situation is different. Some choices that a person can look at are:

  • A new mortgage (the amount of your existing balance plus the amount that you would like to borrow);

  • A home equity line of credit;

  • A combination of a mortgage and line of credit.

The third step would be to sit down with Devin or Wes, your mortgage specialist and assess your different needs and that is why we are here to help you answer these important questions. So contact us today and we will help you come up with the best strategy for your lifestyle.

Do you have questions about refinancing your mortgage? Visit our website at www.www.yourmortgagenow.ca


Check out all they do, reviews and tips on their listing here: www.trustedsaskatoon.com/listing.aspx?lid=208

'It costs you nothing... saves you thousands'

Your Mortgage Now are Trusted Saskatoon Mortgage Brokers


Trusted Saskatoon Mortgage Broker Tammy Wandzura On Navigating a Med, Vet or Dentistry Mortgage

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura a Trusted Saskatoon Mortgage broker and the team at Elite Mortgage Choice believe that buying a home should also be an exciting experience with little to NO stress. By trusting your Mortgage Broker, you are ensuring that any stress you may have had in previous encounters can be eliminated! Tammy Wandzura is a Trusted Saskatoon Mortgage Broker. In her latest tip written by Brydon Wandzura specialist mortgages information is shared! 

Considering a Med, Vet or Dentistry Mortgage?

Did you know that new mortgage programs may allow you to qualify for a mortgage while you are still in school based on your projected income? As a recent graduate from the University of Saskatchewan, I have been through the trials and tribulations that come with Post Secondary Education.

Questions You Could Ask Yourself As A Student:


  1. Where am I going to find a job when I am done?
  2. How do I apply for these student loan credits?
  3. How do I do my income tax?
  4. And …. mortgage…what are the first steps and do I qualify?

If only they taught us these things in University!

Look no further, I know a thing or two about mortgages, here’s hows they work for Medical, Veterinary and Dentistry students.

Medical Students Mortgages: 


This program applies to Med students who have recently completed or who are in their third year of residency or fellowship. The program allows eligible members to qualify for a mortgage using ‘future projected incomes.’ The projected incomes are discipline-specific, i.e. a student in Anesthesiology has a different future projected income than someone in Cardiology and so on.

Veterinary & Dentistry Mortgages: 


Like Medical students, Vet and Dentistry students who are in their final year of residency, fellowship, or program of study can also qualify for a mortgage using their respective projected incomes.

Great! How does that affect you?

Simply put, being able to use this future projected income lets you qualify for a mortgage as if you are already making that amount of money. It lets you get a head start on the home buying process and allows you to start building equity instead of just paying rent again, and again and again.

Still, have questions? Contact Tammy Wandzura today for all of your Saskatoon mortgage needs by visiting her listing here  - Tammy Wandzura is Trusted SASKATOON MORTGAGE BROKER! 




Trusted Saskatoon Mortgage Broker Tammy Wandzura Warning About Buying A New Car Before a Home

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura a Trusted Saskatoon Mortgage broker and the team at Elite Mortgage Choice believe that buying a home should also be an exciting experience with little to NO stress. By trusting your Mortgage Broker, you are ensuring that any stress you may have had in previous encounters can be eliminated! 

Tammy truly believes that all you should have to worry about is opening the door to your new home for the very first time. In her latest mortgage article, Trusted Saskatoon Mortgage Broker, Tammy Wandzura discusses why you should hold off on buying that new car if you are looking to buy a home.


1st Time HomeBuyer- Hold Off Buying The New Car!




















Thinking of starting the house hunting process?? Did you know that a vehicle payment can significantly affect your ability to qualify for a mortgage? Buy The House and THEN The Car " Tammy Wandzura
Federal mortgage guidelines require that your income can handle all of your debts (that you currently have) PLUS the new mortgage payment, property taxes and heat payment.  The NEW mortgage rules are more strict and rigid than ever - and require you to be very conscious of what your debt load looks like. 

 

An Example! 

If you have a car payment of $500/month - that is $500 a month less that can go towards your mortgage payment and expenses. If you have a BIWEEKLY car payment (a biweekly payment comes out of your account every 2 weeks) you make a payment 26 times in a year. If your car payment is $200 biweekly - that does not mean you are paying $400/month... it means you are paying $433.33/month. This is the number the mortgage company will use when calculating your debt. 

The Math: 

1. If you have a car payment of $433/month AND assuming you have good to great credit

  • Income is $50,000/year
  • Max Purchase Price $180,000
  • 5% down = $9,000.00

2. IF you do NOT have a car payment (same good credit, same income)

  • Max Purchase Price $225,000
  • 5% down = $11,250.00

That is a $45,000 difference in borrowing power and may allow you to purchase the type of home in the neighbourhood you are hoping to live in! After you have taken possession of your home - you can easily qualify for a Car Loan with a number of banks or dealerships. Qualifying for a home (mortgage) is a very different process with much stricter rules.

Keep In Mind:

Even with strong income, depending on the area you wish to buy a home - a vehicle payment can seriously and negatively affect your ability to qualify for the house you want to buy.


Buy the house and THEN the car!! Spread the word and tell your friends. Many FIRST TIME HOME BUYERS do NOT know this! 

You're paid off "middle of the road" vehicle is not looking so bad now, is it??


Call Tammy Wandzura today at 933.3386 for all of your Saskatoon mortgage needs OR visit www.elitemortgagechoice.com she is a Trusted SASKATOON MORTGAGE BROKER! 





Trusted Saskatoon Mortgage Broker Asks, Is Your Mortgage Coming Up for Renewal?


Is Your Mortgage Coming Up for Renewal?


Did you know… Over the next 1-2 years, half of all Canadian mortgages will be up for renewal?


If you’re unsure about your renewal date, now’s the perfect time to find out. But, whatever you do, be sure to have an experienced mortgage broker negotiate on your mortgage at renewal with multiple lenders – including banks, credit unions, and trust companies – to ensure you secure the best mortgage product and rate based on your specific needs.


Brokers can pull one credit report and shop your deal with numerous lenders. If you try to do this yourself, each lender will pull a report, which will negatively impact your credit score and could prevent you from qualifying for the best possible mortgage.


Too many people simply sign the renewal form sent by their bank/lender up to six months prior to the renewal date without shopping their options. In fact, this is one of the biggest mistakes a homeowner can make.


Accepting this offer most often means you’ll be paying way too much for your mortgage – on average, 1-1.5% higher than you should be paying – and/or your new mortgage won’t adapt to your changing needs as a borrower. It’s important to remember that lenders are in the business of making money, so they won’t often offer the best rate in the renewal letter.


On a $300,000 mortgage, this higher interest rate could translate into a difference of more than $250.00 per month… and over five years you would have paid $15,000+ in additional interest! That’s a lot of money that could have been paid towards the principal balance and helped pay down your mortgage faster.


Mortgage renewal is also the perfect time to take out equity in your home to renovate, pay down debt, send a child to school, take a dream vacation or use however you choose. The benefit of taking money out during renewal is you don’t have to pay any fees to break your mortgage early.


And if your mortgage isn’t up for renewal just yet, it may also be beneficial to have a mortgage broker conduct a free annual mortgage checkup to ensure your mortgage is working for you and keeping more of your hard-earned money in your bank account each month. You have nothing to lose and everything to gain from staying on top of both your short- and long-term mortgage needs.



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S & E Trusted Online Directories Inc
TrustedSaskatoon.com
129 21st St E #400
Saskatoon, SK   S7K 0B2
Ph: 306.244.4150

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