Mortgage Products
We specialize in Residential & Commercial Financing be it: Purchases / Refinances - Debt Consolidation - Investment Properties
For Commercial Mortgage / Financing Solutions CLICK HERE
The following are just a few of the many Residential Mortgage product offerings we have. Please call us for more details:
1. “Purchase Plus Improvements” Mortgage
If you are considering a purchase of a new home but want to add your own personal touch to the property, consider a “Purchase Plus Improvements” mortgage.
The first part of the mortgage is the purchase of a home, which is handled in the normal way. In the second part of the mortgage, you assign a dollar value that you want to add to the mortgage to cover the costs of your home improvement. This value is typically derived from quotes that you’ve received prior to the purchase of the property.
Let’s take the example of a garage, which we will say costs $15,000 to build. On the date of possession, the lawyer distributes the monies normally but holds back the $15,000 amount assigned for the improvements. Once the garage has been built, and following a quick inspection by an appraiser to confirm the improvement has been completed, the lawyer releases the remaining funds to the client.
2. Purchasing a Residential Property with a Company Name
Yes, a company can purchase a residential property; however, it’s important to note that not all lenders will accommodate this type of mortgage. The owners of the company need to be included in the application process, which would involve reviewing the credit worthiness of each individual. At closing, a lawyer arranges for the company’s name to be registered on the title as the owner of the property.
3. Reverse Mortgages
A perfect solution to those who are over 60 years old. No monthly Payments, no medical exam, many flexible options.
4. Construction Draw
Thinking of buillding a home? Perhaps you already own some bare land? We have the products and the lenders to help you build that home of your dreams!
