Mortgage Broker Scarborough
5 YEARS
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Get Mortgage Offers to Make Your Dream Come True
Mortgage Broker
Lending Situation
Low Low Interest
Fast and Easy Approval
Construction Financing
Mortgage Broker
An Experienced Mortgage Broker
Working with a mortgage broker ensures you have a professional, experienced team working on your behalf. We have experience with all types of mortgage lenders, including traditional banks, credit unions, private lenders, and B lenders. We can help you navigate the problematic Canadian mortgage market with ease. Most importantly, our experience helps you ensure you get the best level of support. Lending Situation
Get Help for Any Type of Lending Situation
When you work with a qualified Scarborough mortgage broker, you work with a professional who can help you determine the right mortgage financing for your situation. If you have poor credit, want mortgage refinancing help, hope to get home equity loans, or need a commercial mortgage, we can help you. We work with borrowers facing low down payments, debt consolidation needs, and self employed mortgage needs. Low Low Interest
Low Interest Rate Mortgage Lending
When you work with our certified mortgage brokers, we will help you secure a loan that is as affordable as possible. Even if you have been turned down by other lenders or told that you need to purchase mortgage insurance, we are able to help you get into low interest rates. High interest loans cost you money that you do not have to spend. Let us help you get the pre approval you need for a more affordable loan. When you contact our team, we can guide you into making the best decision for your needs. Fast and Easy Approval
Fast and Easy Approval for Your Mortgage Needs
Lowratemortgage.ca knows that this is a complicated time to buy a home but we offer the resources and tools you need to get through it with the best possible outcome. You want to get into a mortgage loan fast so you can buy the home you desire. Our mortgage services help you to get approval as quickly as possible, saving you time and money throughout the process. Construction Financing
You need construction financing
Are you hoping to build a home? It can be a lot of fun to create a home that is just right for your needs. Yet, obtaining a construction loan is often very difficult to do – and sometimes traditional lenders are just going to say no, especially if you want an interest only loan where you only make interest payments for the first few months as the home is built. Our team can help you to find the options you need in lenders that will allow this. You can build a home. If you have the financial means to make payments on time each month, we can help you to obtain a loan that enables you to buy with confidence. Let Lowratemortgage.ca help you to find the right lender. As mortgage brokers, we want to help you find help even when other lenders tell you no.Mortgage Broker Scarborough
Utilizing a mortgage broker may be one of the most important decisions you make if you are hoping to buy a home. Mortgage brokers are intermediaries and mortgage professionals who work for you to help you to obtain the mortgage loan best suited for your situation. At Lowratemortgage.ca, we work closely with you to ensure you get mortgage financing that first your specific situation, to ensure you get the most affordable mortgage rates available. Before buying a home, turn to Scarborough mortgage brokers to provide you with the necessary tools and resources. There is no cost to working with us, but you will have numerous opportunities to secure the best mortgage financing available to you today.
When Should You Choose Mortgage Brokers?
Working with a licensed mortgage broker provides you with an opportunity to obtain a loan that fits your needs and your financial goals. Our team does not work for a specific mortgage lender but rather you, providing you with the access to funds you need. There are some situations where you may find working with our team is the best option for you.
Traditional Lenders
Self Employed Borrowers
Good Credit
Consolidate Debt
Refinancing Help
Home Equity Loan
Traditional Lenders
You did not qualify through a traditional lendersIf you found a property you want to buy and you applied for a mortgage through one of the big banks or credit unions but were turned down, we may be able to help you. You can apply for a new loan with us to find out if you qualify through one of our specialized lenders. We can help you get pre approved to buy a home even if you have had other lenders tell you no.
Self Employed Borrowers
It is not uncommon for many people to become frustrated with applying for a loan if they are self employed. Self employed borrowers typically have to provide lenders with more information and details about their income. Sometimes that is not possible to do. You may not have guaranteed income or your income may change frequently throughout the year. You may not have enough verification of your income or a long history of proven income that you can show to your lender. In these situations, it can be hard to obtain a loan. We can help many of our clients to do so.
Good Credit
You don’t have good creditLenders view credit as an essential component of the decision process when deciding who should obtain a loan. Those who have bad credit may have a history of making payments late or may have limited credit history at all. Bad credit could stop traditional lenders from considering other factors such as your income or down payment, and this limits your access to mortgage financing. Our team may be able to help you even in these situations.
Consolidate Debt
You want to consolidate debtDebt consolidation is a big part of improving your financial future. You may want to tap into the equity in your property so that you can pay off some of the high interest debt you have. This could even help you get lower interest rates on a new loan. Many other lenders do not offer debt consolidation loans like this.
Refinancing Help
refinancing helpAnother time when it is best to work with mortgage brokers is when you want mortgage refinancing. When you refinance, you obtain a new loan that offers better mortgage terms and conditions to fit your life. It may help to lower your monthly payments. Refinancing is often beneficial when you now qualify for lower interest rates than when you first took out your loan. Our team can help you with this process. We may be able to help you save money on your mortgage through refinancing even if you have bad credit.
Home Equity Loan
You want a home equity loanHome equity loans are designed to provide individuals with equity in their property with a way to use that equity to help them in other areas. For example, you may be able to use a home equity loan to make repairs to your home or to pay down some of your debt. If you are unsure if you have home equity or need some help qualifying for a home equity loan, we can also help you through that process. Also called second mortgages, this is also one of the best ways to tap into money to use for a wide range of other needs. However, a second mortgage like this can be hard to obtain through some traditional lenders. In any situation where you are considering a new loan, turn to one of the best mortgage broker firms out there. Allow our team to help you determine if there is a better way for you to save money on your purchase.
Mortgage Rates Promo
Fixed
| Mortgage Type | Rate | Terms |
|---|---|---|
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Insurable 75%-80%
|
4.04% |
1 Year |
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Uninsurable Refinance |
4.49% |
1 Year |
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Insured |
4.54% |
3 Years |
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Insurable 65%-70% |
4.74% |
5 Years |
Variable
| Mortgage Type | Rate | Terms |
|---|---|---|
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Insured |
3.75% |
5 Years |
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Uninsurable Refinance |
4.20% |
5 Years |
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Insurable 75%-80% |
4.10% |
5 Years |
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Insurable < 65% |
3.65% |
5 Years |
Let's Talk About How Much You Can Borrow from Mortgage Brokers and Lenders
The amount of money you can borrow depends on various factors. First, our goal is to determine what interest rate a lender may offer to you, and those with poor credit may be charged more. Then, we want to look at your income as well as the expenses you have. Knowing how much money you have left over from paying all of your expenses could be applied to your mortgage monthly payments is important. Once we know how much you can afford in payments, we can then determine the amount of mortgage loan you can obtain. While this seems like a hassle and struggle, it is actually a very straightforward process that our team will help you with.
We want to be sure that you get the best mortgage for your situation. Sometimes, you may qualify for a loan that has a monthly payment that seems too high to you, and you do not want to spend that amount. That’s okay, we can help you. Our goal is to help you get mortgage preapproval but only if it is affordable to you. You may benefit from borrowing less in this situation to save more.
If you already looked at real estate and know which home you want to buy, you may be worried you may not qualify for a loan at a high enough value. We work to help you with that too. Knowing the real estate market is a challenge, but we want to be sure we can help you find private lenders capable of helping you so that you can buy the real estate you want. That is not always the case, of course. Sometimes you may not qualify for the highest value loan, and we will work with you to navigate that situation if it occurs as well.
The good news is that our certified mortgage brokers can help you through every situation you face.
- Debt consolidation loans – Let’s talk about how a debt consolidation could help you save money.
- Reverse mortgage – Are you looking for a solution like this to help you to finance your future? Let us help you find a mortgage lender to help.
- Commercial mortgage – If you are thinking about a loan to help you with your business, our lenders may be able to help you qualify with a commercial mortgage.
- Second mortgage – If you want to take into the equity in your home, second mortgages are one of the best ways to do that.
- Self employed mortgages – We can often help those who work for themselves to obtain the loan that is best suited for their needs.
For many people, working with a mortgage broker is one of the best things you can do for yourself. We can help you get into mortgage payments that fit your goals and objectives. Because we have connections to private mortgage lenders, we can guide you into finding the loan that fits each one of your goals. If you qualify for a traditional mortgage loan, such as one from your bank or credit union, and it offers you the best interest rates and terms possible, choose that loan. We can even help you find those loans as well. If you have been turned down by other lenders or want to learn more about your specific loan options for more challenging situations, reach out to a broker.
There is no cost to you in working with us. For that reason, there is no reason not to learn what our private mortgage lenders can do for you.
Turning to a mortgage broker may help you learn about other loans including a private mortgage, that could be a better choice for your situation. Banks in Canada have to follow the rules set by the federal regulators, and that means they do not have the same flexibility that private lenders. As your broker, we encourage you to reach out to us to find out if you can pass the mortgage stress test. If so, you may be able to qualify for a traditional loan. As long as the mortgage payments fit your need and you can meet the credit score requirements, that could be the right option for your situation.
If you do not meet those requirements, private lenders may be available to help you. Private lenders are individuals or a group of people who come together to create a private mortgage opportunity that does not fall under federal guidelines. Private lenders may charge a higher interest rate but if these are the best mortgages for you, it may be worth choosing these loans over others.
As a mortgage broker, you can work with our team to learn about private lenders that offer mortgage loans. Keep in mind that we, as a broker, do not charge interest rates. Rather, we connect you with lenders who offer a mortgage product to you. That is important – you want to be sure that you know you are not obtaining a loan through us. As far as the cost you will pay, that depends on the lender. Mortgage products are always very dependent on a person’s qualifications. That means you need to have a credit score that meets the lender’s requirements, a down payment that fits the lender’s needs, as well as other qualifications for income to obtain a loan to buy property.
A big bank is a lender that offers loans and other financial products. Their mortgage products are very much under regulatory guidelines. That means if you want to buy property, you have to obtain approval under the rules set by the government. Our clients often work with big banks when their financial situation allows for them to do so. A mortgage broker is a company that helps you to find mortgage products to meet your needs. We provide the best service possible and guide our clients to select a loan that suits their needs. There is no risk in working with us and you have a lot of flexibility in obtaining a loan even if you want bad credit loans, an open mortgage, or the best deal out there.
Get Professional Mortgage Advice & Save Thousands
With The Lowest Rates AND a Best Mortgage Fit.
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How Do Scarborough Mortgage Brokers Help?
When you work with a mortgage broker, you gain opportunities to connect with more lenders, including mortgage lenders that may not be readily available to you on your own.
Private Lenders
Private Mortgages
Qualifies for Private Mortgages
Private Lenders
Understanding private lenders
One of the most common reasons to work with a mortgage broker is because we can help connect you with private mortgage lenders. These lenders offer a private mortgage that does not conform to the requirements set by the federal government for “A” and “B” lenders. That means that while other lenders must have you qualify through a mortgage stress test and with a loan to value that is high enough to meet their requirements, private mortgage lenders do not. At the same time, private mortgages typically have their own requirements to obtain a loan. However, each of the private lenders available set their own terms and conditions. That is why there is a lot of opportunity for most people who are looking for mortgage pre approval. That is, we can help you in many of the hardest situations listed above. You can obtain a private mortgage in many cases including if:- You have bad credit
- You have no credit history
- You do not have a large down payment
- You are a self employed borrower
- You want debt consolidation or mortgage refinancing options
- You do not want to pay mortgage insurance
Private Mortgages
Private mortgages may cost more
All loans have interest rates. Interest rates typically are a reflection of several things. First, the lending rate is currently employed in the country. The higher this rate is, the more people pay for mortgage rates. Secondly, mortgage lenders typically use the amount of risk you present to the lender to determine if they can offer a loan to you. The more risk you are to the lender, your interest rate will likely be higher. Since private mortgage lenders typically lend to people with a high risk level, you can expect to pay a higher interest rate on most private mortgages. However, for many borrowers, it is still highly affordable and therefore worth considering. We do not let you get into mortgage payments that are too high for you.Qualifies for Private Mortgages
Not just everyone qualifies for private mortgages
While many people who could not obtain a loan through other mortgage lenders may qualify through private mortgage lenders, these financing companies still have limitations. Not everyone will qualify and some will be turned down. However, the better you can show lenders that you can make monthly payments on time and have a down payment to apply to the loan, the better your chances of obtaining a loan. We encourage you to reach out to our mortgage broker so that we can help you determine if you may qualify through a private lender.What to Expect When You Work with Our Mortgage Broker
Our clients receive exceptional service and support when they give us a call. We do our best on your first call to give you all of the information you need. Whether you know your specific needs or want help finding a lender, trust our team to be there for you.
We work with clients throughout the area including in Metropolitan Toronto, North Yorkshire, the full Scarborough area, and all of Ontario. All you have to do is to reach out to us to learn more about how we can help you.
When you want to buy property with an affordable mortgage, turn to a broker that can help you get the very best opportunity for your needs. As one of the best lender opportunities in all of Ontario, we are confident we can help you find a home loan that helps you to achieve your financial goals.
To get started, fill out the information on this page and let us know your needs. Whether it is the best interest rates out there, extra funds, a second mortgage with bad credit, or real estate with a current value that is unknown, we can often help you. Trust in our team to help you obtain the best loan terms available today. Contact us now to get started.
