Frequently Asked Questions

WHAT DOES GBK STAND FOR AND HOW LONG HAVE YOU BEEN AROUND?

GBK financial Inc. was been established in 1970. It is named after our Founder Gord Brown and his wife Gail Krieger (Hence GBK). All four of his sons work at GBK making it a true family business.

DOES YOUR COMPANY SUPPORT LOCAL SPORTS TEAMS OR CHARITIES?

We believe strongly in community and helping children. We support a number of local sports teams and charities .Our motto is “Feed Them”, “Educate Them” and “Give Them Activity”.

I AM IN A CONSUMER PROPOSAL/BANKRUPTCY CAN YOU HELP?

Yes we can! We have helped many families pay out their consumer proposals and the tools to rebuild their credit.

WHY SHOULD I TALK TO YOU BEFORE I MEET WITH A REALTOR?

The most important part of buying a home is making sure you are approved – NOT PREAPPROVED. At GBK, we take a proactive approach to do all the work up front to make sure we know exactly what you can REALLY AFFORD and how much you are actually approved. Preapprovals by the Bank/ Brokers often result in deposits and your dream home being lost. Examples: income not matching, credit concerns, appraisals and many other reasons to many to list.

CAN I USE THE EQUITY IN MY HOME TO CONSOLIDATE MY DEBT?

Yes. In fact, we can go up to 90% of the value unlike to banks that only lend up to 80% of the value.

I WOULD LIKE TO RENOVATE MY HOME, CAN YOU HELP?

Yes, please call  us so we can show you how to use your equity to start your renovations today.

I’m self-employed can you help me?

Yes and in fact, we will be your best choice to work with. If you are self-employed, the Banks are under stringent guidelines due to mortgage rule changes. Our Lenders want “Business for Self” Mortgages and make concessions for people like you and I. As a “Business for Self” Broker, we’re the guys you want in your corner.

I’m not working/on disability can you help me?

Yes we can! At GBK we have a wide range of Lenders to facilitate each situation. We will create options for you and help you plan to help better your current situation.

Do I need a down payment to buy a home?

Yes, you will need a minimum of 5 % down + closing costs. Don’t be discouraged though, call us and we will put a plan together for you. Even if it’s 2 3- years, we will be here for you.

I have bruised credit, can I still buy a home?

Yes. We will let you know what you will need as a down payment, closing costs and create a plan to help you rebuild you credit. We will show you the cost to buy now versus what the cost would be after your credit is rebuilt. We don’t say no, we create options and give you sound advice so you can make a sound decision.

I just purchased a home, is it okay to buy furniture or a car before the closing?

No, the best advice we can give you is do not apply for credit until you are in your home. The slightest variance in debt ratios can harm your purchase and credit approvals.

I have bruised credit , can I still refinance my mortgage?

Yes, the majority of our clients that come through our door have dealt with some type of life circumstance. Normally, it is job loss, lost a loved one or became overextended. The Banks will judge you at this point but good news, we will not.  Our goal from the beginning is to create a plan, rebuild your credit and create monthly savings. We’re the Professionals.

WHAT IS PURCHASE + IMPROVEMENT MORTGAGE?

A Purchase + Improvement mortgage is a mortgage for families that don’t want to buy a new home. We have a Mortgage Product where you can go buy a home and get the funds to do your renovations immediately. (New Roof, Windows, Bathrooms, Kitchens and more).

WILL I SAVE MONEY IF I CONSOLIDATE MY DEBTS?

The simple answer is yes. The definition of a consolidation is combining several unsecured debts into a single, new payment that is more favourable. The consolidation often results in a lower interest rate, lower monthly payment or both.

DO YOU HAVE BETTER RATES THAN THE BANK?

Yes, we beat the Banks 99.9% of the time, that’s why we’re Brokers! Our mortgage lenders don’t have branch locations, massive overhead and other costs which allows them to discount their rates.

HOW MANY CLIENTS HAVE YOU WORKED WITH?

We have worked with thousands of families over the last 46 years .In the last 10 years alone, we have worked with over 9000 families.

CAN I USE MY EQUITY FOR MY CHILDREN'S TUITION?

Yes, we have helped many families fund their children education. Our solutions are often cheaper than Loans and Lines of Credit.

CAN I USE MY EQUITY TO BUY A 2ND HOME, RENTAL PROPERTY OR A COTTAGE?

Yes, and we have help many of our clients utilize their equity to buy investment properties, cottages.

WHAT MAKES YOU DIFFERENT FROM THE BANKS?

We have lower rates than the Banks. We have better customer service and will come to your office or home and because we are Family – you will get treated like Family. We’re in your corner.

WHAT MAKES YOU DIFFERENT FROM OTHER BROKERS?

There are over 11,000 Licensed Brokers in Ontario only. We have longevity, we treat our clients like family because we are family and have won business excellence awards. We work in teams so there is always someone available to help you and our office has the security to protect your personal information.

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