A majority of Canada’s labor market is backed by the country’s policy for government funded universal health care. With a guarantee for the sector’s strength due to government funding, a large percent of Canada’s labor force has nestled careers within healthcare. Just like anyone, a healthcare worker has the responsibility to prove both their income and job security when applying for a mortgage. Canadian consumers in the healthcare industry shopping mortgages usually find themselves with higher borrowing rates, making shopping loans a challenge. Debt to Income ratios tend to be the issue, which is a cause and effect of the cost of tuition and loans that offset income.
One of Canada’s top lenders — Maxime Beauchemin, has made a career and built his organization helping primarily Canadian Healthcare professionals sort out complicated loans and find the best products available. With nearly twenty years of experience in the mortgage industry, we sat down with Maxime Beauchemin to learn more about what Canadian Healthcare professionals can do to find the best loans that suit their individual buying needs.
Network and Connections
Maxime wants readers to know that shopping loans doesn’t have to be a challenge. With over nearly two decades of experience in the mortgage industry, Maxime has been able to build a proprietary lending system that has given him a unique advantage in the marketplace — for both his organization & his clients. Maxime went on to say: “Our clients are often very busy, not having to worry about some of the mundane things related to the mortgage lending process is certainly a value add when choosing us.” The main advantage for clients of Beauchemin is of course his ability to help them land a mortgage through his quick and easy lending system.
Beauchemin continued by saying: “I have relationships with a lot of unique banks which makes finding the right loan product extremely easy and streamlined, particularly when aligning with unique client situations.” With a quick and easy pre-approval system and fast product turnarounds, Maxime has made a name for himself as a go to for lending in Canada.
Specialized Knowledge For Healthcare Professionals
In Canada, particularly Quebec where Maxime is based — the healthcare industry is very complicated. Often much of the workforce in healthcare work multiple jobs, & are partnered with multiple different agencies. Because of the assortment of income and unorthodox pay stubs, lenders often file loan approvals and borrowing rates in a less favorable way to healthcare working borrowers. Maxime went on to say “You know, lenders are looking for certain things and when they don’t find it, it becomes very difficult for someone to get approved for a loan.” Throughout his career, Maxime has worked with a majority of the largest banks in Canada and has learned how to help underwriters see what they are looking for within the uncommon mix of tax forms, income statements and seemingly inconsistent employment that is associated with many healthcare professionals in Canada. Maxime also mentions that he has specifically built relationships with certain Canadian banks that have the best loan products available for healthcare workers.
Plan For Success
Maxime is dedicated to helping his clients get a higher pre approval, final approval, and assisting in the relocation process. By focusing on these areas, Beauchemin is able to help ease the entire home buying process for his clients. Despite his attention to detail, he does have some tips that help his clients to have an even smoother process. Maxime recommends that before borrowers inquire, it’s important to make sure that you are organized. Borrowers must understand that their chances of getting approved lending start with what information they have available for their lender to review. Currently in Canada, Interest rates are raising to combat inflationary pressures which have affected Canada tremendously. For healthcare professionals in the process of buying a home looking to get approved for lending, your chances of loan approval start with your ability to get organized and vet out the right broker.
About Maxime Beauchemin
Maxime Beauchemin is a highly experienced mortgage professional who now works as a partner with the Excelia Group, a branch of the Dominion Lending Group. Beauchemin specifically specializes in helping healthcare professionals to navigate the process of homebuying with expert guidance.