Many of us want to own a home at some point, but bruised or imperfect credit can prevent us from borrowing with our preferred lender.  Maybe a job loss, a repossessed vehicle, a cancelled credit card, late payments, divorce, all of these can contribute to lower credit scores.

The major financial institutions are referred to as “A” lenders. What do you do if you have a down payment, want to buy a home but have imperfect credit and your bank has turned you down? “B” lenders to the rescue.

Dana Hesp and her partner found themselves each leaving their marriages and wanting to buy a house together. Due to their separations and divorces, banks sometimes take a pass on lending money out to people in these situations. Dana had also had a car repossessed but did not know the exact circumstances, so this impacted her credit. She and her partner could not get a mortgage from an “A” lender, so turned “B” lenders to make their dreams come true. Dana walks us through the pros and cons of financing this way.

Join host award winning mortgage broker Denise Laframboise each week as she brings the good, the bad and the just plain ugly in real estate transactions, as told by real people. Success stories and tips on how to avoid the same pitfalls. We'd love you to please like, subscribe, follow and share these amazing stories.

To get in touch with Denise:

Web: http://DeniseLaframboise.ca Email: [email protected]  Phone: 289-645-1568 ext 1

Hashtags for this episode: #b lender, #bruised credit, #downpayment, #imperfectcredit, #budget, #mortgages, #separation, #divorce, #creditrating, #realestate, #bigbanks

Many of us want to own a home at some point. Some of us move out of our family homes at the first opportunity and rent our first place as soon as possible, while others stay with our families as long as we can to save up the down payment.

Uchechi Ezurike-Bosse graduated from university and got a job with an above-average salary, which in her own words is rare, but also had a student loan. She wanted to buy a property but didn't have the down payment saved, but the concept of renting was like 'giving money away'.

She saw an ad for a builder that was offering Rent to Own - an opportunity where the builder gives you credit for a percentage of your rent if you buy the condo after the first year, and a much smaller amount if you buy it after the second year. Since her sisters owned condos in the same building, it seemed like a good plan. Once Uchechi ran the numbers, the rent that would be applied to her down payment was almost 80%! Tune in to hear the good, bad and maybe ugly of this type of real estate transaction.

Join host award winning mortgage broker Denise Laframboise each week as she brings the good, the bad and the just plain ugly in real estate transactions, as told by real people. Success stories and tips on how to avoid the same pitfalls. We'd love you to please like, subscribe, follow and share these amazing stories.

To get in touch with Denise:

Web: http://DeniseLaframboise.ca Email: [email protected]  Phone: 289-645-1568 ext 1

To find out more about Uchechi:

Web: https://www.myempoweredliving.com/

Hashtags for this episode: #renttoown, #condo, #downpayment, #condoforone, #budget, #mortgages, #starterhome, #firsthouse, #firsthome, #realestate

One of the tips that first time home buyers can leverage, is either adding an income-producing apartment in the basement, or buying one with an existing apartment.

If you put one in later, you control the look and feel of the apartment, as well as the tenants. If you buy one with existing tenants can be beneficial and challenging.

Natasha Laframboise was prepared for this challenge when buying a home. She tells us the unique challenges in this process, and how others can be prepared for this kind of real estate transaction.

Join host award winning mortgage broker Denise Laframboise each week as she brings the good, the bad and the just plain ugly in real estate transactions, as told by real people. Success stories and tips on how to avoid the same pitfalls. We'd love you to please like, subscribe, follow and share these amazing stories.

To get in touch with Denise:

Web: http://DeniseLaframboise.ca Email: [email protected] Phone: 289-645-1568 ext 1

Hashtags for this episode: #duplex, #basementapartment, #cashflow, #tenants, #rentals, #mortgages, #DIY, #alwaysbeprepared, #landlord, #propertymanagement

When we purchase a property in real estate, we generally know or assume there's going to be a little bit of work that is needed to be done after moving in, which means also spending a little bit of money. Maybe some painting, change out some carpeting, update some fixtures, etc. All good?

Chris Christian was prepared for this kind of work when buying her dream home. Little did she know that there were all sorts of animals living in the walls, or that she'd find a bag of cocaine during renovations.

Because of this, her reno budget ballooned as they moved from crisis to crisis. That being said, she can laugh about it now, and walk you through the story of her nightmare renovation!

Join host award winning mortgage broker Denise Laframboise each week as she brings the good, the bad and the just plain ugly in real estate transactions, as told by real people. Success stories and tips on how to avoid the same pitfalls. We'd love you to please like, subscribe, follow and share these amazing stories.

To get in touch with Denise:

Web: http://DeniseLaframboise.ca Email: [email protected] Phone: 289-645-1568 ext 1

Hashtags for this episode: #renovation, #nightmare, #cashflow, #horrorstory, #budget, #mortgages, #DIY, #AsIs, #NeverKnowWhatYoureGonnaGet, #renovationstory