Mortgage Financing

Whether you are a homeowner looking for a second mortgage or someone interested in buying a home but are unable to get a mortgage from a bank, Alternative Financing Options (AFO) may be just what you are searching for. 
 
These days most mortgages are provided by a few major banks in the country and most of them have a strict and long approval process. You may have heard of a private lender before but many people have little knowledge or concept of how it all works. Private mortgages can be an alternative source of financing for borrowers that, for whatever reason including low credit scores, don’t fall within the lending parameters of the banks. Canada’s banks and institutional lenders need to adhere to strict lending criteria, many of which are Federally regulated, and cannot deviate from these rules. As a result, more and more Canadians are left without financial options in times of need.
 
Our concept is simple - if time is not on your side and you cannot wait for a long approval process or you don’t qualify for a first or second mortgage from a bank or institutional lender, we invite you to contact us. We welcome all opportunities for residential, commercial, multi-unit and industrial mortgages.

First Mortgage

This loan is recommended to those of our clients who offer first mortgage security.

  • Type: 1st Mortgage
  • Loan Term: 12 months
  • Payouts: Loans can be paid out in full after six months with two months written notice and two months interest penalty
  • Loan Amounts: Up to $1,000,000.00
  • Interest Rate: 12.00% per annum
  • Arrangement Fee: 5% of the loan amount, which can be added to the loan amount
  • Mortgage Broker Fee: If applicable can be added to the loan amount
  • Loan to Value Ratio (LVR): Maximum 90%, including applicable fees
  • Security Type: Residential, Commercial and Vacant Land
  • Location: Nova Scotia, New Brunswick, Newfoundland, PEI and Ontario (urban and rural areas). Other areas to be reviewed upon request.

Second Mortgage

This loan is recommended to those of our clients who wish to retain their existing first mortgage.

  • Type: 2nd Mortgage
  • Loan Term: 12 months
  • Payouts: Loans can be paid out in full after six months with two months written notice and two months interest penalty
  • Loan Amounts: $25,000.00 – $1,000,000.00
  • Interest Rate: 15.00% per annum
  • Arrangement Fee: 5% of the loan amount, which can be added to the loan amount
  • Loan to Value Ratio (LVR): Maximum 90%, including applicable fees
  • Security Type: Residential, Commercial and Vacant Land
  • Location: Nova Scotia, New Brunswick, Newfoundland, PEI and Ontario (urban and rural areas). Other areas to be reviewed upon request

Calculate Your Fees

Use the calculator below to determine your fees.


 

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