The media in both Canada and the US is full of stories on the tumbling mortgage market and the uncertainty about rates. Especially at times like this, it is more important than ever to use the services of a mortgage professional.
In Canada, the Accredited Mortgage Professional, or AMP, is Canada's only national mortgage designation. The AMP designation was introduced to raise the bar of professionalism in the mortgage industry and requires indivduals to have at least two years of work experience in the mortgage industry and to show proficiency in understanding the mortgage industry by taking an entry course on duties and ethics. This includes issues such as mortgage fraud, regulations affecting the industry, and sound ethical practices. They are also required to take at least 10 hours of continuing education each year to update their knowledge.
AMPs are dedicated to offering in-depth product knowledge and service and can provide tailored solutions for your borrowing and investing needs. Discounts on posted rates are common as are new products offering longer amortizations. Canada is now offering some products that were previously exclusive to US investors, such as no doc loans and stated income. This helps not only a real estate investor, but all self-employed business people and entrepreneurs as well! I say FINALLY, it's about time!
For all our Canadian investors, a good resource for your mortgage needs, whether first time homebuyer or savy real estate investor can be found at www.briandgrant.com. He and his team of qualified AMPs can service your needs in any province in Canada.
To your successful investing!
Mary Wozny
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