|
|
 |
We could go on at length about the various features of a mortgage in Canada but in the interest of time, our best advice is to contact us with questions you are most concerned about. We know the types of Canadian mortgages offered by the various banks. We’ll help you select the right mortgage that is most suitable for your family. Or, help you choose between ‘high ratio’ vs. ‘conventional’ mortgage, ‘fixed’ interest rate vs. ‘variable’, ‘closed’ vs. ‘open’ mortgage, or evaluate the ‘pre-payment privileges’, that let you pay down your mortgage faster. To secure a best possible interest rate, ask us to begin shopping around for your mortgage at least 90 days before your mortgage matures. This can save you thousands of dollars in interest.
Is your mortgage up for renewal? You can transfer your mortgage for free! As long as you are not increasing your mortgage, the new lender will cover the cost of transferring your mortgage. We will investigate the possibility of a lower interest rate and a best contract in the marketplace, often better than the bank rated! At renewal time, you will automatically receive our fully discounted rate - no negotiation needed!
Mortgage Life and Disability Insurance quotes are also available with every mortgage approved on our system. The cost is low and can be built in with your mortgage payments. In the event of death, your mortgage will be paid in full if it is insured. With the Disability Insurance coverage, your monthly mortgage and tax payments will be carried for a specific period of time, in the event of serious illness or disability.
If your application qualifies for a mortgage with financial institutions that offer Home Warranty Insurance protection, this coverage is FREE for the first year of your mortgage. This Warranty covers repair of your furnace, air conditioning or plumbing in the event of failure.
Back to Top
Getting your First Home is Easy. How much of a home can you afford?
Making the right choice when it comes to purchasing a home is a matter of good planning. There is so much to learn that it’s essential to surround yourself with qualified professionals throughout the process.
The question of ‘How much of a home can I afford?’ is largely answered with mortgage calculator and assessing the following:
- the amount of mortgage you may qualify for
- what mortgage payments to expect
- some strategies on how to save money over the life of the mortgage
See Axcess Mortgage and Loans Financing in Hamilton, Ontario. We will take you through the whole home buying process. Whether its coordinating with realtors and lawyers or information on government programs available to the first-time buyers, we’re here to give you a hand. We will help you select a price range for your new home that you are going to be comfortable with and arrange a mortgage pre-approval. Once you're pre-approved, your interest rate is frozen for 60 to 120 days, depending on the lender. If during this period interest rates drop, you'll get the lower rate and if they rise, you're covered.
How can Mortgage Pre-Approval help?
Whether you’re a first-time buyer or you’re experienced in the home buying process - a pre-approved mortgage gives you an edge. If you are planning to buy property in the near future, call Axcess Mortgage and Loans Financing to arrange a pre-approved mortgage - it is one of the first steps a homebuyer should take before beginning the buying process. It puts you in a strong bargaining position when you make an Offer to Purchase, because the seller knows that you are a serious buyer. Most Real Estate Professionals want to ensure you have a pre-approved mortgage in place before they take you out looking for a home. This is to ensure that they are showing you properties within your affordable price range.
Equity mortgages give you access to the equity in your home to use as you see fit! Many Canadians have realized that their biggest single asset may be a large amount of equity tied up in their home. While being in an "equity rich" position is nice, it may not always be the best use of your money. This is where an "equity take out" mortgage can be very useful.
Get cash for:
- Home renovations
- Financing a Car
- Major Investments
- Second properties such as Cottages or Rental properties
- Cars, boats & RVs
- University education
- Outstanding taxes to Revenue Canada
- To make an RRSP contribution or other investment
- ...and many more!
Back to Top
Get your hands on your money FAST! Have you gone for a bank loan and been getting the runaround from banks? Use the equity in your home to secure an Equity Line of Credit for $10,000 - $150,000.
Get cash through a home loan:
- to help with unexpected expenses
- to take that family vacation
- to make home improvements
- to start your own business
- Or, are you self-employed and need a way to grow your business? Increase cash flow?
Its Flexible: With an Equity Line of Credit you can make additional payments at any time without penalty. You have the freedom to use only what you need, when you need it, up to your available credit limit - and importantly, it saves You Money. You only pay the interest on the credit you have used. Apply only once and it is set up to use when you need it.
Back to Top
Self Employed? No Proof of Income Needed.
Yes. There is such a thing as an entrepreneurial lender! If you need a lender that understands that you’re an ‘A’ client even though your income is hard to prove, we know who they are. We know that each borrower’s situation is unique. The 'No Income’ mortgage is perfect for those borrowers who cannot prove income with traditional documentation such as pay stubs, T4s, or personal income tax returns. It is an excellent choice for people who are self-employed, paid primarily through their business or other contract arrangements. The ‘No Income’ mortgage can be used to purchase a home or refinance an existing mortgage.
Qualifying is typically based upon the income self-declared by the borrower.
Back to Top
Mortgages for New Immigrants are designed to meet the needs of those clients who have obtained a Landed Immigrant status within the last 10 years. Temporary residents to Canada, such as foreign workers with valid work visas, can now also obtain mortgage financing.
U.S. Residents with good down payment from own resources, may now obtain mortgage financing for a second home or vacation property for their personal use (not eligible for rental properties).
The client’s credit history, net worth and employment circumstances determine how much money the lender will advance on their mortgage. Typically, on owner-occupied properties, the lender will advance up to 95% of the property value, if the mortgage can be insured - or on a conventional mortgage, up to 75% of the property value, depending on the property, documentation and disclosures available. On rental properties the loan amount is reduced to approximately 60-65% of property value.
Back to Top
You could be on your way to being a Real Estate tycoon! Real Estate is considered one of the safest investments. With Real Estate, your investment is tangible: you can touch it!
Like most commercial or rental property owners, you may assume that a bank is the only place to go when your business needs cash. And, like others, you may have experienced the frustration involved with applying for a bank mortgage.
We can help! We know that each property is unique. We have many years of expertise and experience in commercial and industrial property financing. With our in-depth understanding of the commercial financing, along with long-standing relationships with our lenders, we can secure financing to meet your special needs.
Fast. Easy. Approved. Here are some property types that our lenders have financed:
- Rental multi-family properties
- Mixed-use commercial & residential
- Rooming houses
- Hotel/Motel/Restaurant
- Office/Retail/Warehouse
- Bed & Breakfast
- Light industrial/self-storage
- Automotive services
- And more!
Back to Top
©2010 Axcess Mortgage and Loans Financing Co.