Mortgage Products

There are a number of different mortgage products available on the market today. The exact product that works best for you depends on your needs and current situation. As a mortgage professional, my job is finding the best product to suit your needs.

Purchases

There are many different mortgage options when it comes to a purchase. Fixed or variable rates, closed or open mortgage, how long of a term, amortization, etc, etc. Let me help you as your mortgage professional customize a mortgage that is suitable for you and your family’s needs. There are still mortgages available with zero down (OAC), at a very competitive interest rate. The first place to begin with any purchase transaction is with your pre-qualification and pre-approval.

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Refinances

Statistics show that most home owner’s who have a 5 year term mortgage, will refinance somewhere between year three and four. Have you been thinking about doing home renovations? Or do you need to consolidate some debt? Perhaps you would like to make an investment? Or is it you simply need a lower interest rate? Whatever your needs and requirements are, I can assist you in accessing the equity that you have built into your home. We can access up to 90% of your home’s equity for whatever your need.

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Rental purchases

Are you looking to diversify your investment portfolio? Maybe a rental purchase is what you’re looking for. Although this product has recently changed, purchasing an investment property can still be reality for many individuals. Investment properties can still be easily purchased with a 20% down payment.

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New to Canada

Starting all over in a new country is a very exciting experience, however it can also be extremely overwhelming. The new to Canada program allows Canadian residents to purchase with 5% down and non-residents to also take advantage of home ownership in Canada with 10% down. An international credit bureau is usually required, however sometimes we can utilize alternate credit sources where required.

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Bruised credit

Life happens to all of us. In these current economic times it’s important to choose a mortgage professional that understands this. There are lenders and products available to help individuals who have gone through bankruptcy, OPD, and consumer proposals or simply a financial rough patch. Even if I can’t qualify you today, I’ll give you helpful tips and walk you through the necessary steps and stages to get you well on your way to home ownership.

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Self-employed

Self employed mortgages can be a little different. With a self-employed mortgage it boils down to two questions…

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Home Equity Line of Credit

This particular product is truly the most customizable mortgage product available. HELOC’s allow home owner’s to access up to 80% of the value of their home in an open-variable product. HELOC’s can be segmented into a variety of products for more flexibility and essentially negate the need to have a mortgage.

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Second mortgages

Sometimes you may need to access the equity in your home, but you don’ t want to break your existing mortgage contract and incur pre-payment penalties. I have access to a wide variety of lenders that will do second mortgages, even at rates as low as 4.55% (OAC). Call me today to help you sort out your options.

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