Are you having a tough time getting approved by a bank on loan or having difficulties with high credit card payments? If you’re looking for a mortgage, at Farahpour Mortgage, we’re experts to find for you the right mortgage based on your situation.
Even if you have 20% of the property value for down payment, it may not be enough to quality for a loan, under the new rules, As of January 1, 2018, new regulations will be in place which will make it harder for first time homebuyers to secure the loan they need. We've simplified the process to help you get into your new home faster.
Buying a new home is a big step -- whether you're buying your first one, downsizing, or upgrading -- and we're here to help you through the whole process.
Get access to a range of long and short-term loans designed to meet the specific funding requirements of your business and Commercial Real Estate.
Access loans for purchasing new property, as well as refinancing or making improvements to existing buildings, commercial mortgages and private equity real estate investments are available on multi-family, retail, resturant, office, industrial, hotels, land and construction opportunities across Ontario, Also, we can help you to get lowest rate to buy a bussiness from a small bussiness loan program.
It is the second lien registered against your property. It is a great way to utilize the equity in your home in situations where you do not meet bank underwriting requirements.
By going for a second mortgage, you can refinance up to 90% of your property’s value!.
5 reasons why most people get Second Mortgage,
1.) Buying Another Property
3.) Paying Off Debt
4.) Renovating Property
5.) Paying for School
HOME EQUITY LINES OF CREDIT
This type of product is registered against your home as a collateral charge. You are given a limit of how much you can borrow against the value of your home. Interest is only charged on the outstanding balance. You have the ability of securing several different terms under this one product. Many people have this product for its flexibility. A HELOC requires that you have enough equity in your home.
Also, requirements include a steady employment, a good credit score, and having proof of income.
When you got your first or second mortgage, you had great rates! But over time the rates don’t seem so great; you want to save money but you’re not sure how to go about it. Here we’re going to talk about mortgage refinancing and how you can use it to lower your monthly mortgage payment.
3 reasons why people get Mortgage Refinace,
1.) Save Money
2.) Change Your Mortgage
3.) Build More Equity
There are many reasons someone would choose private mortgage lending over more traditional forms of credit. Maybe you have a poor credit history or no credit history at all (which likely isn’t the case in this situation, but everyone is different!) You could also be self employed or retired. Some people have high risk properties that can discourage traditional lenders, and others will need a private loan to bridge the gap between what they have and what they need to move into a new home.