New Home Purchases
Buying a new home could be defined in many ways, accomplishment, independence, and an investment for the future. It's also the biggest transaction that shouldn't be obtained without a detailed written contract. Once you have found the dream home you would like to purchase. You need to include an Offer to Purchase or an Agreement of Purchase and Sale. You are working with probably one of the biggest investment in your life; it would be prudent if you work with a well trained Agent/Broker/Lawyer to prepare for your offer.
Commercial lending is a process of loaning money to establish entity usually in a business and partnership. A Commercial lending is a loan that uses a property as collateral.
Debt Consolidations can refer to getting a loan at a lower rate to pay off all the debts with higher rates to consolidate your tabs into one easy payment. By doing so, you need an ideal credit to have this procedure taken into action. This practice is to improve credit counseling, credit rating, specialized settlement of accounts, reduce bad debt, obtain quick results, and adaption in repayment schedules. We provide services expanded for our clients that are experiencing financial hardship.
2nd mortgage is basically another loan on your home, it is loan secured against the property. A 2nd mortgage means that the loan is not a priority on your property in case you default; your 1st mortgage has priority and would be paid before any money would go towards the 2nd mortgage. 2nd mortgages are very alluring because you are getting a lot of money, though there are negative aspects that you would have to keep an eye out for. We can help you interpret whether a 2nd mortgage can benefit you.
Refinancing a mortgage means replacing a new loan by paying off an existing loan. The reasons why homebuyers refinance are to obtain a lower interest rate; shorten their mortgage term; to change to a variable rate to a fixed rate or vice versa; consolidate debt; and to strike a home's equity in order to finance a large purchase. Due to the fact refinancing can cost between 3% - 6% of the loan's principal and taking out the original mortgage requires appraisal, title search and application fees, it's important for us to educate the homeowner to determine whether his or her reason for refinancing offers true benefit.
In Canada mortgages typically have a term of 6 months to 10 years. However once the term is over, the mortgage must be renew at a new interest rate or paid off. Borrowers are always caught up in between high interest rates. With highly trained professionals we can help you find the lowest interest rates therefore increasing the amount paid to your principal.
Equity takeout is when you want to take out money of your property to use it for other purposes. You might already have a mortgage, in which you would be increasing the principle value of your mortgage. There are a few reasons why homeowners have equity take outs: Investment in other properties, investing in the stock market etc.; purchasing a recreational property; the need to cover tuition fees; investment in a small business; and borrowing to make a payment towards RRSP or RESP.