In this episode of the Close More Deals Podcast, host Scott Dillingham dives into the gritty realities of real estate prospecting and how mortgage brokers can turn "no down payment" objections into "yes" opportunities. Drawing from years of frontline lending experience, Scott breaks down strategies for clients with strong credit scores (700+), emphasizing that hard work in outreach pays off when armed with innovative tools. He spotlights the CMHC FlexDown program, a game-changer for flexible financing that lets qualified buyers borrow their minimum 5% down payment from sources like lines of credit, personal loans, or even family—without derailing the deal. As of November 2025, this insured option remains robust under CMHC, Sagen, and Canada Guaranty, with lenders factoring in only the minimum monthly payments to keep debt ratios in check, enabling buyers to enter the market now amid stabilizing rates.Scott layers in a pro tip from his early days at LendCity: pair FlexDown with cash-back mortgages offering 1% to 5% rebates. Borrow the 5% down, close the deal, then use the instant cash back to repay the loan—leaving clients with just their primary mortgage and zero extra debt. This tactic sidesteps common barriers for first-time buyers in Canada's competitive housing scene. With average home prices holding steady and new rules favoring insured low-down-payment loans, Scott stresses education over pressure sales, urging listeners to qualify credit first and prospect relentlessly for long-term wins.Whether you're a realtor building your pipeline or a buyer eyeing that first property, this episode equips you with actionable intel to bypass down payment roadblocks. Hosted by LendCity, Canada's trusted mortgage partner for pre-approvals and custom solutions, it blends practical wisdom with updated 2025 market insights for sustainable wealth building in real estate.Key TakeawaysProspecting Mindset: Real estate success demands consistent outreach—when clients cite no down payment, pivot to credit checks; scores of 700+ unlock flexible programs like CMHC FlexDown for immediate action.CMHC FlexDown Basics: Borrow the 5% minimum down from lines of credit, personal loans, or family; lenders include only minimum payments in debt ratios, keeping affordability intact for strong borrowers (confirmed active via CMHC/Sagen in 2025).Cash-Back Layering Hack: Select lenders offering 1-5% rebates (e.g., up to $5,000 from TD or YNCU promotions ending late 2025) to repay borrowed down payments post-closing, simplifying to a single mortgage payment.Credit Threshold Strategy: Always start with a credit score inquiry—700+ qualifies for insured flexibility, avoiding conventional 20% down requirements and enabling 95% loan-to-value purchases under $500,000.Debt Ratio Caution: Borrowed funds must be conservative; focus on minimum payments only, and educate clients on long-term impacts to build trust and prevent overextension in today's rate environment.LendCity Action Step: Contact LendCity for free pre-approvals to test FlexDown eligibility, turning prospecting leads into closed deals with transparent, client-first advice.Links to Show ReferencesLendCity Mortgages (Pre-Approvals & FlexDown Guidance): lendcity.caCMHC FlexDown Program Details: cmhc-schl.gc.caSagen Borrowed Down Payment Info: sagen.ca/products-and-services/borrowed-down-payment

In this episode of the Close More Deals podcast, host Scott Dillingham dives into how maternity leave impacts mortgage qualifications in Canada. He explains the varying lender policies on using maternity leave income, emphasizing that many clients get declined unnecessarily due to mismatched lenders. Scott highlights top-tier options where 100% of pre-leave income can be used if returning to work within 18 months, and other common scenarios allowing full income consideration within 12 months or even two months. He stresses the importance of a return-to-work letter from the employer confirming the start date and role, which is required across all supportive lenders. For those not returning, such as stay-at-home parents, income typically can't be used unless opting for alternative lenders.Scott shares practical advice for navigating these programs to avoid denials, noting that some lenders don't support maternity leave income at all, while others offer flexible terms like 60% usage between 12 and 18 months. He encourages listeners who've been told they can't proceed to reach out, as pivoting to the right lender often secures approval. Drawing from real client experiences, the episode underscores how understanding these nuances can turn potential roadblocks into successful deals. As of November 2025, these policies remain consistent with Canadian mortgage guidelines, protecting applicants on leave and focusing on pre-leave earnings for qualification.This informative session equips homebuyers and real estate professionals with essential knowledge to qualify during maternity leave, blending lender insights with actionable steps for smoother applications. Whether planning a purchase or renewal, Scott's tips help maximize income consideration and avoid common pitfalls in the mortgage process.Key TakeawaysTop-Tier Lender Options: Select lenders use 100% of pre-maternity leave income for qualification if returning to work within 18 months, requiring a return-to-work letter.Common 12-Month Policies: Many lenders accept 100% of income if the return date is within 12 months, helping more applicants qualify without reduced earnings.Short-Term Return Requirements: Some lenders only consider full income if starting back at work within two months, limiting options for longer leaves.Flexible 12-18 Month Terms: One lender allows 100% within 12 months or 60% of income from 12 to 18 months, providing a middle-ground solution.Essential Documentation: All supportive lenders mandate an employment letter detailing return date, role, and compensation; without it, income can't be used.Non-Returning Parents: If staying home post-leave, income is typically excluded unless using alternative lenders for qualification.Avoiding Denials: Don't rely on banks with strict policies—pivot to compatible lenders to close deals, especially for clients on extended leave.Links to Show ReferencesLendCity Mortgages (for Mortgage Approvals): lendcity.caBook a Call with LendCity Team: Book Here

In this inaugural episode of the Close More Deals podcast, host Scott Dillingham from LendCity Mortgages shares valuable insights for realtors on growing their business through better mortgage strategies. Drawing from years of coaching Realtors® on special programs, rates, terms, and conditions, Scott emphasizes how understanding mortgage nuances can help close more deals. He kicks off with a rundown of current rates, noting that all figures are time-sensitive and subject to change. For insured mortgages (less than 20% down), the lowest 5-year fixed rate is around 3.69%, with variables starting at 3.45%. Insurable mortgages (20% or more down, with lender-backed insurance and 25-year amortization) mirror these at 3.69% fixed and 3.69% variable in some cases, while uninsurable options (like 30-year amortizations) start higher at 4.24% fixed and 3.95% variable, based on verified market data as of November 2025.Scott stresses the pitfalls of defaulting to a client's bank for pre-approvals, which can limit options and reduce borrowing power. He contrasts this with using an experienced mortgage broker who accesses multiple lenders for optimal terms. Examples include how some banks factor 3% of credit card limits (even if balances are zero) into debt calculations, artificially lowering pre-approval amounts—e.g., $30,000 in limits could add $900 in phantom payments. Brokers avoid this by selecting lenders that only consider actual owing amounts, maximizing client qualifications. Similarly, child tax benefits vary: some lenders use only 30-50%, while others allow 100%, leading to vastly different pre-approval figures.Wrapping up this quick weekly update aimed at five minutes or less, Scott encourages realtors to refer clients to experts like his team at LendCity for strategy calls. This approach not only secures better rates and terms but also builds client trust, ultimately helping realtors close more deals. Key TakeawaysInsured Mortgage Rates: For purchases with less than 20% down, lowest 5-year fixed at 3.69% and variable at 3.45% as of November 2025—ideal for first-time buyers but includes CMHC fees.Insurable vs. Uninsurable Options: Insurable (20%+ down, 25-year amortization) offers rates like 3.69% fixed and 3.69% variable; uninsurable (30-year amortization) starts at 4.24% fixed and 3.95% variable for greater flexibility.Avoid Bank Defaults: Sending clients to their bank limits pre-approvals due to restrictive policies; brokers compare lenders to optimize qualifications and rates.Credit Card Debt Impact: Some lenders calculate 3% of full limits (e.g., $900 on $30,000 limits) even if paid off, reducing borrowing power—brokers select ones that only factor actual balances.Child Tax Benefit Variations: Lenders differ in usage (30%, 50%, or 100%), affecting pre-approval amounts; choose accordingly for maximum leverage.Broker Expertise Benefits: Access to multiple lenders ensures best terms, educates clients, and shifts preferences away from banks for better outcomes and more closed deals.Links to Show ReferencesLendCity Mortgages (for Strategy Calls and Pre-Approvals): lendcity.ca