Services

Mortgage Approval

A mortgage preapproval is a letter from a lender indicating the Body and amount of loan you can qualify for. The preapproval letter is issued after the lender has evaluated your financial history — including pulling your credit report and score.

Getting preapproved for a mortgage helps you shop for homes within your means and shows you’re a serious buyer.

Mortgage Pre Approval

Mortgage pre-approval only means a loan officer has looked at your finances—your income, debt, assets, and credit history—and determined how much money you can borrow, how much you could pay per month, and what your interest rate will be. Once a lender has pre-approved you for a mortgage, you’ll get a letter you can then take to sellers.

Mortgage Renewal

A mortgage renewal is a new agreement to extend or renew mortgage terms with your mortgage holder. Most mortgages arrange monthly payment amounts so that if each payment is made timely, the mortgage will be paid off after roughly 30 years. This is called the amortization period. However, mortgages in Canada have smaller terms and are usually much shorter than the amount of time it would take to pay off the mortgage in full.

Second Mortgage

A second mortgage is a type of loan that lets you borrow against the value of your home. Your home is an asset, and over time, that asset can gain value. A second mortgage is a loan that uses your home as collateral, similar to a loan you might have used to purchase your home.

Reverse Mortgage

Just like a salaried or self-employed individual, senior citizens and retired individuals also need funding to meet any unforeseen financial emergencies. In the absence of a regular source of income, funding them through a financial institution is the next best option available. A financing option like a reverse mortgage loan can meet these needs.

Refinances

A refinance occurs when a previous loan has been revised in terms of the interest rate, payment schedule, and terms. A refinance involves the reevaluation of a person or business’s credit terms and credit status. Consumer loans often considered for refinancing include mortgage loans, car loans, and student loans.

Equity take out (HELOC)

A home equity loan, also known as an “equity loan,” a home equity installment loan, or a second mortgage, is a type of consumer debt. It allows homeowners to borrow against the equity in their residence. The loan amount is based on the difference between the home’s current market value and the homeowner’s mortgage balance due.

Debt Consolidation

A debt consolidation loan is a type of personal loan you can use to combine high-interest debts and allow for one low-interest payment. Debt consolidation is used by consumers to pay off a small debt in one go by taking one big loan. By doing this they save on interest as well as the finance cost of the small loan owed by them. The borrower would now have to make one payment instead of making multiple payments to other creditors.

Privately Funded Mortgages

Private money funds, also known as “hard money,” usually come from private investors or private lending companies who are willing to loan homebuyers money to purchase a specific property. The loans could be a great option for homebuyers who are not able to qualify for a traditional mortgage because of less-than-perfect credit, debt or for self-employed individuals who can’t always provide proof of a steady income.

Bridge Financing

A bridge loan is a short-term loan used until a person or company secures permanent financing or removes an existing obligation. It allows the user to meet current obligations by providing immediate cash flow. Bridge loans are short term, up to one year, have relatively high interest rates and are usually backed by some form of collateral, such as real estate or inventory.

Newly Construction Mortgages

A construction loan (also known as a “self-build loan”) is a short-term loan used to finance the building of a home or another real estate project. The builder or home buyer takes out a construction loan to cover the costs of the project before obtaining long-term funding. Because they are considered relatively risky, construction loans usually have higher interest rates than traditional mortgage loans.