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Besnik Rexhvelaj

Besnik Rexhvelaj

Mortgage Broker

LIC# 10428
Language(s): English, Albanian
Specialties: Residential Mortgages, Commercial Mortgages, Bad Credit, Self Employed, New canadian, First-time home buyer

About

Broker

Welcome to WeMortgageYou.ca! Your one-stop for mortgages and financing in London, Toronto and beyond. I hold a B.A. in Finance and Economics from the University of Toronto. I have completed the Canadian Investment for Investment Advisor (IA) through Fanshawe College, full Broker Program Education via Senica College in 2012, and I have the AMP designation from 5MORTGAGE PROFESSIONALS CANADA (MPC. With 26years experience in the financial service industry, including 11 years as a Commercial Bank Manager, and 15 years in the mortgage industry (residential, commercial and business loans). While working as a Bank Director, Rexhvelaj had 80 employees working under his direction.

Besnik  and his Team has been Awarded-Recognized Regionally as 2nd top team and ONE of TOP Teams Nationally in Mortgage Volume this for the year of 2019,2018 and 2017. At the same time Besnik has been Awarded as Top 5th  Independent Regional Mortgage Broker for 2013 to 2019. 

As a Mortgage Broker, I work for you, not the lender. That means you get extremely competitive mortgage products and rates, along with unbiased advice from me. As part of Mortgage Intelligence, Canada’s leading mortgage brokerage, I have access to the products of over 50 lenders. I pride myself in delivering to each of my valued clients a competitive financing package. As no two clients are alike, I strive to negotiate not only a great rate for you, but also advantageous terms and pre-payment privileges, tailored to meet your specific needs and future goals.

My Service Commitment

  • I will keep you informed every step of the way so there are no surprises.
  • I will work diligently to have your mortgage decision within 48 hours (or earlier).
  • I will work evenings and weekends, to fit your busy schedule.
  • Upon receiving your application I will contact you immediately for a pre-approval/approval consultation.
  • Managing your mortgage can save thousands.

Paying off your mortgage as quickly as possible will free up funds sooner to invest towards other important priorities including your children's education or your retirement plans. In addition, the equity you build in your home as you pay down your mortgage often can be drawn on for unexpected emergencies or to supplement your retirement.

A strategy for reducing your mortgage is to take advantage of any prepayment or additional payment features that come with your mortgage. Consider using a portion of any bonus, tax refund, or inheritance you might receive to pay down your mortgage. This strategy could save you thousands of dollars in interest over the life of your mortgage.

Your choice of payment frequency can also reduce the amount of interest you pay over the life of your mortgage. In addition to monthly payments, most lenders also offer weekly, bi weekly and semi-monthly payment options.

Another popular way of paying off a mortgage sooner is to shorten the amortization period of the loan. The amortization period is the number of years it will take to repay the mortgage loan in full. Shortening the amortization period will increase your mortgage payment, but potentially you’ll save thousands of dollars in interest over the life of the mortgage. You’ll be surprised at how much you can save by reducing the amortization by just two or three years.

The key of effectively managing your mortgage is to ensure you select the right type of mortgage for your needs. This means not to considering a mortgage in isolation, but rather looking at it as a key part of your total financial security plan.

Here are some questions to ask yourself before renewing a mortgage:

  • Can I afford to increase my regular payment?
  • Do I have funds to pay down the mortgage?
  • Do I need to change my payment method i.e. monthly to semi-monthly?
  • How sensitive am I to potential changes in interest rates either upward or down?
  • Should I choose a short term or a long term mortgage?
  • Do I plan to sell the property in the near future?

My business continues to grow thanks to my valued clients and the referrals of their families, friends and co-workers. I look forward to showing you the same dedicated and outstanding service.

7 reasons to use a Mortgage Broker over your Bank

Check it out

Self-Employed

Borrowing money is harder for many self-employed Canadians. While there is broad recognition that self-employed Canadians are reliable borrowers, it may be difficult to navigate the mortgage process and the different options available specifically for this group. We can help turn the tables. These individuals may run their own businesses, or work in a profession where the main source of their income is predominately capital gains, a form of income that is generally not considered by most “A Lenders”.

We work with self-employed homebuyers every day and understand the challenges that they may face when arranging a mortgage especially with no standard proof of income. Our brokers are experts when it comes to mortgage solutions and have access to multiple options, including mortgage products designed specifically for self-employed Canadians. They can pinpoint which lenders have more favourable terms and requirements and advise you on how you can improve your options to get the best possible rate and terms.

The more complex your mortgage situation, the more sense it makes to use an experienced mortgage professional who can help simplify the process and help you achieve both your short-term objectives and your long-term financial plan. Most of all, they allow you to stay focused on your business, alleviating the burden of many time-consuming and frustrating tasks and meetings associated with securing a mortgage and will also work around your busy work schedule. Many will even travel to your work site if required to make the transaction as convenient as possible for you.

Remember, that independent mortgage professionals work for YOU, not the lenders or banks, so you can rest assured that their advice is unbiased and in your best interest when it comes to finding the right lender and right product to meet your needs. Find out what your options are, give us a call.

First-time home buyer

Here’s to buying like a pro the first time!

Buying your first home is one of the most important financial decisions you’ll ever make and getting the right advice from a mortgage professional is a great way to start.

Before you start looking for your dream home, your Mortgage Intelligence professional can help you find out how much you can qualify for so you can shop with confidence. They’ll explain the process and even assist in getting you a mortgage pre-approval so you can take advantage of today’s low rate environment by locking in today’s rate for you for a set period of time, typically 90 to 120 days.

Understanding your down-payment options is important as you get ready to buy your first home. This is right time to consult with your mortgage professional who can explain the requirements and options available to first-time buyer only when it comes to down-payment. Generally, the min down-payment required depends on the purchase price with the min being 5% down. For homes $500,000 and under 5% down is the min required. For homes over $500,000 but less than $1 million, you need 5% down-payment on the first $500,000 and 10% for any amount over that. If your purchase price is $1 million or more, a minimum 20% down-payment is required. Mortgages with less than 20% down are subject to default insurance which is usually added to the mortgage amount.

At Mortgage Intelligence, we work with over 60 lenders from major banks to private lenders. Your mortgage professional gives you access to multiple lenders and finds the right mortgage for you with only one application. They help you navigate the process, explain your options and present you with mortgage solutions that best meet your need. Having the right combination of mortgage features, privileges and rate is key. The right mortgage goes beyond just the rate--it's important to also consider term, prepayment options, refinancing penalties, restrictions, and fees.

Your mortgage professional will not only find the right mortgage for you but also provide strategies to help you pay your mortgage off faster and shave thousands off interest costs in the process.

Bad Credit

Your credit history is integral when it comes to the mortgage approval process because that history is a reliable indicator of how you will manage your mortgage and your finances in the future. Your credit score is calculated using information in your credit report including your payment history, how much debt you’re carrying and the length of your credit history. Lenders use the score to helps determine the risk and your creditworthiness when you apply for a loan. Credit scores above 660 are generally considered good, very good, or excellent. These individuals receive lower rates, and can get loans easier than those that do not fit into this range.

Those with less than average scores or with lower scores who fall into the “poor” credit range may face higher interest rates, difficulty getting better loan terms or qualifying when applying for a mortgage. Buyers with poor credit may have to put down a larger initial down payment or require a co-signer to be able to qualify for the mortgage they need to get into their dream home.

Your mortgage professional can review your situation and coach you on how best to improve your credit over time. That's why it's a good idea to talk to a mortgage broker as soon as you can. As your good credit history becomes established, your borrowing options will increase. If you wish to get a mortgage while you work on bettering your score, we can help!

At Mortgage Intelligence we are committed to helping Canadians realize their dream of home ownership. Our brokers have access to many lenders, from banks to private lenders, and a multitude of mortgage solutions. Even if you have poor credit, you have options and our brokers will work with you to find the right solution that best meets your needs. Call for a free consultation.

Commercial Mortgages

Commercial Mortgages fall into their own class of financial products. As a result of this you will need to work with a broker who specializes specifically in commercial mortgages. They are different because there is no standard methodology that all lenders use to underwrite them so they require a lot more expertise to successfully put together.

Lenders typically underwrite each commercial mortgage transaction according to the merits of the proposal and the financial strength of the borrower. Once the lender is satisfied with the risk in funding the commercial mortgage or project, they will then decide on price.

Our commercial mortgage professionals arrange complex funding for client projects utilizing strong relationships across the entire commercial lending community. Our team of commercial mortgage brokers are experts when it come to commercial lending types and posses the knowledge and understanding of the niche each lender serves, loan types they prefer as well as what security, interest rates, fees and debt service coverage meet the criteria of those lenders. They will help you determine the right lender and mortgage for your investment.

We will ensure that your financial needs are matched with the right lender so you can get the highest possible rate of success for your investment. Commercial lending is very different from residential mortgages and are subject to a strict set of criteria. The participants in this market are chartered banks, credit unions, life insurance companies, mortgage investment companies, and non-institutional companies. Each have a unique portfolio structure, pricing matrix, and appetite for specific loan types and industries. It's important to seek the advice of a mortgage broker to ensure that your requirements are satisfied, and you get the mortgage that helps you reach your short term and long terms investment objectives. Contact us to get started and take your first step into making your project a reality.

New To Canada

If you’re new to Canada and looking to buy a home of your own, we are here to help get you there sooner!

As you transition from renter to owner, seeking the advice of a mortgage professional is a smart move that can help make the transition easier. Your Mortgage Intelligence professional will help streamline the mortgage process for you, explain the requirements and present you with the options available to you. If you have any questions, your mortgage professionals is there for you every step of the way.

Generally, the most important factors for new to Canada financing are credit history, and down-payment.

It is a good idea to start establishing credit in Canada as soon as you can. Not everyone may be where they need to be when they first meet with a Mortgage professional. Your Mortgage professional can take the time to coach you on what you can do to help build your credit. If you do not have established credit, they can show you have built credit by providing specific supporting documentation such as a credit report from your country of origin, proof of rental payments, proof of utilities payments, proof of income and others. In terms of the down-payment, a five percent of the purchase price is the minimum although a larger down payment may be required. If you are a non-resident, a 10% down-payment be be required. It is also important to remember that homes over $500,000 require 10% for every dollar between $500,000 and $999,999. Any mortgage over 1 million dollars will require 20% down payment.

Mortgage professionals also work with a large range of lenders and products, which makes them more likely to be able to find the right solution for your situation.

You can rely on your mortgage professional to help outline all the requirements and advise you on the paperwork you need to assemble to apply for a mortgage. Call for a consultation or to get the process started.

Today's Exclusive Mortgage Intelligence Rates

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Besnik Rexhvelaj

Besnik Rexhvelaj

Mortgage Broker

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