How to Use Your Investments for Easier Mortgage Approvals- BMO Savers Mortgage

Thursday, October 19, 2023   /   by Evelyn Lopes

How to Use Your Investments for Easier Mortgage Approvals- BMO Savers Mortgage

Ep 33.png

Unlock Financial Flexibility with BMO's Saver's Advantage Program: An Overview

Navigating the maze of mortgage approval can be a challenge, especially if you find that you don’t fit neatly into standard lending criteria. Whether you’re a retiree, self-employed, or a high net-worth individual, BMO’s Saver’s Advantage Program may be the solution you’ve been searching for. In today’s blog post, we will provide an overview of this revolutionary program that leverages your investments and savings to make mortgage approval easier than ever.

What is the Saver’s Advantage Program?

The program is designed for those who may not meet standard lending conditions but have a strong portfolio of savings and investments. Instead of shutting the door on these clients, the Saver's Advantage Program offers a pathway to mortgage approval by acknowledging these assets.

The Power of Indirect Leverage

One of the cornerstones of this program is the concept of "Indirect Leverage." Unlike traditional methods that require a hold on your assets, this program merely needs verification that these assets exist. The best part? These assets don’t even have to be with the lending institution and can be held externally..

Who Can Benefit?

The Saver's Advantage Program is tailored for individuals who may not meet traditional lending standards based on income and expenses but have accumulated strong savings and investments. This could include:

  • Retirees

  • Self-employed individuals (sole proprietors with large personal savings by lower stated income)

  • High net-worth clients who don’t want to withdraw their investment portfolio.

The Concept of Indirect Leverage

What sets this program apart is the idea of "Indirect Leverage." Unlike conventional lending, there's no hold placed on your investments. You only need to show that you have the assets, and they don't even need to be with BMO.

Asset Flexibility

The program provides broad flexibility when it comes to the types of assets that can be considered:

  • GIC’s, 

  • stocks, 

  • mutual funds, 

  • Employee share programs. 

All investments to be held in non registered savings/investment accounts, TFSA, RRSP, DPSP, RRIF

For more information on the program, check out our:

PODCAST- Realty Bytes Conversations on Real Estate and Lifestyle- S3 EP33

YOU TUBE- The Evelyn Lopes Realty Team -  EP# 117
How to Use Your Investments for Easier Mortgage Approval at BMO_

Kyle Cole

Evelyn Lopes | iPro Realty Brokerage

  real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, brampton real estate, orangeville real estate, home and lifestyle, mississauga real estate, halton hills real estate, real estate tips, realty bytes, realty bites, mortgage, mortgages, mortgage rates, homebuyer tips, buying a house, real estate investing, finance, first time home buyer advice, first time home buyers, home buying tips, interest rates, financing tips, first time home buyer, savers mortgage, bmo