Home Equity Line of Credit
Just as easy as it sounds, a first mortgage doesn’t mean that it is your first time taking out a mortgage; it refers to the primary loan taken on a property. The lender will have a lien on the property and give the money to the borrower against the property.
So if the borrower defaults, property serves as a security blanket for the lender and gives him the first right to the property. In severe circumstances the lender can foreclose on the property and sell it to recoup its investment.
While the second mortgage is a type of subordinate mortgage taken on the same property while an original mortgage is still in effect. The second mortgage is the money borrowed against home equity to fund other expenditures or repay the remaining amount in the first mortgage.
We know that these procedures can be hectic and complex, but you needn’t worry. Our team is dedicated to make it simple and easy for you!
Refinancing
Refinancing lets you negotiate your existing mortgage loan and take a new loan with a lower interest rate and a cheaper monthly payment by agreement.
Why should you consider Refinancing?
- Paying off the debt– This is utmost important for you to achieve financial health.
- The mortgage interest rates have dropped.
- Taking out cash (equity) from the home to pay for your other large expenses like education or renovations.
- Improvement in Credit score that makes you eligible for more sustainable and better rates
Refinancing is a great way that can help you save money and enjoy a new source of credit to finance your projects. We at My Mortgage Consultant aim to assist your needs and meet all your expectations giving you the best rates for refinancing in Canada.
Renewal
Your mortgage becomes open for renewal once your mortgage term is up. Renewal lets you work out a new term and interest rate for your mortgage. The homeowners often tend to commit a mistake, they resume the services of their current lender and often accept the first offer that they present. Nine out of ten times, the offer laid on the table isn’t the best interest rate. Make sure you explore the market to know the best interest rates available. We have Banks, Trust Companies and Financial Institutions to give you the best rates available for renewal in Canada. Restructure your mortgage- Pay it years sooner and save your hard-earned money in the process.
Banks are very well versed with the fact that mortgage renewal takes time and plenty of their customers don’t follow interest rates closely. Don’t be deceived, your bank will never make a great first offer. We at My Mortgage Consultant save our clients from falling prey to the initial offer that the bank presents. We save our clients money. We scan the market thoroughly and find you the perfect fit for all your needs, with the lowest interest rate possible.
There’s no legal fee to switch lenders once your mortgage is up for renewal. So why stick with a lender who isn’t giving you the best deal?
Debt Consolidation
Are you dealing with debt and need relief?
Debt is the number one problem that Canadians face today. We understand the seriousness of this problem so provide our clients with the best debt relief solution.
At My Mortgage Consultant, we specialize in debt consolidation that can not only lower your total monthly payments but also help you pay off all of your debts at once and streamline the debt repayment process. With trusted and experienced lenders in compliance with My Mortgage Alliance, we can help you unlock up to 80% of your home’s value.
We help our clients save a pile of cash by minimising the monthly payments, consolidating the bills which drastically reduces the interests and payments, as single debt is much easier to pay off, instead of many.
Get remarkably low-interest rates, reduce your mortgage rate, and shrink your payments by up to 70%; eliminate debt, expert advice and consultation all with My Mortgage Consultant!
Cash Back
Mortgage gives you a golden chance to purchase your dream home whereas a cashback mortgage helps you pop a chunk of money in your pocket to pay for those extras that go along with it.
Cashback mortgage will allow you to get a certain percentage of your mortgage principal, so you receive your “cashback” in a lump sum when your mortgage closes. Getting the money upfront can prove to be very beneficial, it gives you the freedom to spend money on areas like renovation, decoration, lawyer fees, other expenses or even vacation after the potential stress of buying a house.
So why not ease your financial pain that you have to endure during the process?
Connect with My Mortgage Consultant today, to understand and proceed with a cashback mortgage, for that extra cash in your pocket!
Pre-approval
The procedure to secure a loan can be difficult to maneuver through, and services like pre-approval are of utmost importance.
Pre-approval is the process wherein the lenders examine your documents like your credit and your financials. If everything looks in order, the lenders make an allegiance to lend you money; though with terms and conditions like property valuation.
Sounds extensive? Don’t worry, this is where we step in. Our experts will get you through this process and others with great ease and professionalism.
Self Employed
We aim to help self employed folks attain their dream home, irrespective of their profession. Though it is apprehended that self-employed professionals don’t get a mortgage loan easily, the fact is that they can easily qualify for the very same loan as traditionally employed applicants. The only difference would be the process.
Kickstarting your venture can be thrilling, rewarding and at the same time challenging.
We totally understand, if you are self-employed you may already have experienced the exasperation of obtaining mortgage financing. So, we at My Mortgage Consultant ease your difficulty by offering lending solutions for self-employed borrowers without traditional third-party validation of income.
Problems that self-employed individuals run into when trying to get a loan is that they use business expenses to reduce taxable income.
If you are self-employed and don’t qualify for mortgage financing, come to My Mortgage Consultant as we offer loans and special financial products that offer finance up to 90% on purchases with best mortgage rates for self-employed professionals in Canada.
So why to wait ?Contact us today to get started right away!
Business Loans
One of the most indispensable keys to success of any business is access to financing. If you are looking to get seamless funding for your business, then you are at the right spot. We provide the best rates for business loans in Canada.
Businesses looking to purchase or improve their assets for new or expanded operations can surely benefit from our Business Financing Loan.
We have a panel of experts to review and process your loan application with Canada’s most trusted firm the Mortgage Alliance.
At My Mortgage Consultant, we can easily provide you with best options, floating rates available as well as fixed rates, flexible repayment options and quick approvals making the entire process efficient and flawless for you!
Private Mortgage
Conventional mortgages provided by the traditional lenders come with a lot of hurdles and stress.They are usually strict and have prohibitive rules.
But you don’t have to stress about it as we at My Mortgage Consultant offer a solution to this through our most special financial product – Private Mortgage!
As traditional lenders aren’t always willing or able to lend money to everyone, so private loans are a great opportunity to get the money you need for your financial future. Private lenders don’t stick to restricted lending guidelines like traditional lenders, thus making the process simple and easy. They work closely with their borrowers to make sure that all their unique needs are met and taken care of.
So,whatever your financial situation looks like and no matter what type of mortgage you need, we at My Mortgage Consultant support you to get the mortgage from the most genuine private lenders in Canada. Private mortgages are for anyone and everyone, especially those who want a personalized experience as they have your best interest at heart.
You are just a call away to discover the best options for you!
New Immigrants
Moving to a new country can be strenuous, imagine carrying the burden of getting your dream home. To lift this weight off your shoulders, we at My Mortgage Consultant offer a step by step helping hand for the new immigrants.
From finding the right kind of neighbourhood, competitive financing, or any other financial aid, we can help with anything and everything.
There are a couple of factors such as your type of residency, credit rating, down payment amount that play a role in determining what kind of mortgage you qualify for, and the required documentation.
Sounds rather exhausting, almost taking away the fun of your new home. You needn’t worry though, we’re here to help