CWB Optimum

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Written By David Pipe
 

Review of CWB Optimum Mortgages

CWB Optimum Mortgage is a full-service lender that offers a variety of products, including flexible alternative mortgage solutions, for clients who may not fit within traditional guidelines, including those who are self-employed or with bruised credit.

CWB Optimum offers flexible debt ratios, competitive rates, and a variety of features, such as HELOCs, a bank statement program, and a rental program.

 
CWB Optimum

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Ideal Client

CWB Optimum is best suited for first-time buyers, business owners, self-employed individuals, investors, and those with bruised credit. With programs designed to transition clients from alternative to traditional mortgages, CWB Optimum is ideal for those seeking flexible, customized financial solutions.

 

Special Features:

Loan Services (HELOC)

 

CWB Optimum offers a variety of mortgage products designed to meet different needs. Their services include a Home Equity Line of Credit (HELOC) for flexible borrowing, flexible debt ratios to accommodate various financial situations, and a bank statement program that can help self-employed borrowers demonstrate their income. They also have a rental program for property investors and a graduate program, which allows clients to transition from alternative financing back to lower-rate lenders. While each of these features has its advantages, clients need to weigh them against their own circumstances to make the best choice.

 

Downsides:

High Penalties

Paperwork Intensive

No Physical Branches

No Banking Services

 

When considering this lender, it's important to be aware of a few potential downsides. There may be a lender fee involved, and since they don’t offer banking services or have physical branches, you might miss out on some conveniences. Additionally, the prepayment penalties could be higher than what other lenders offer, and the application process can be more paperwork-intensive. Being aware of these factors can help you make an informed decision that best suits your needs.

 

Best Suited For:

 

First Time Buyers

Business Owners

Self-Employed

Bruised Credit

Investors

 
 
 
 
 
David Pipe

David Pipe helps business owners, investors, and first-time homebuyers build and protect family wealth with creative financing and tax-efficient life insurance solutions. He is an award-winning mortgage agent and life insurance agent in Ontario. David believes education in personal finance and seeking great advice is the best way to reach our financial goals, and he is focused on sharing his knowledge with others. He lives in Guelph, Ontario with his wife Kate Pipe and their triplets (and english bulldog Myrtle).

https://www.wealthtrack.ca/about#about-david-pipe
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