Buy a Home or Investment Property
Planning to buy a home?
Our lending expert will be with you every step of the way, from pre-approval to closing on your home. To get started let us help you understand the steps involved in the home buying process:
- Pre-Approval
Pre-Approval is your first step in the home buying process. Being pre-approved gives you peace of mind, an advantage when negotiating the price on your home, and also expedites the process from purchase agreement to closing. And the only cost of pre-approval is a little time and commitment.
-Pre-Purchase Counseling
Pre-Purchase counseling is always an option and can be very well worth your time, especially if you are a first-time buyer. Some first-time buyer programs require counseling, and we will assist you. We want you to fully understand the home buying process and become a successful homeowner.
Begin your home search
with a pre-approval in hand, it is time to begin your home search.
- Found you Dream Home
Once you have found your Dream Home
Be sure your pre-approval letter is presented with your offer and negotiate a purchase agreement. Provide us a copy of your purchase agreement and we will proceed through the process of Formal Approval and sign loan contract.
- Settlement completed and Move-in
Congratulations! You move into your new home, but our relationship does not end there. We are here to assist you with any future purchases or refinancing when the time is right.
Buy Your Dream Home!
Refinance Your Loan
--Why Refinance?
Refinancing means obtaining a new loan against a property you already own, paying off an existing mortgage which has a higher interest rate or longer-term, or to borrow for other purposes as you may desire, such as paying off other obligations or financing other purchases or expenses, etc.
Your home is typically the most valuable asset you own and your loan payment your largest monthly obligation. Making sure that you have the best loan possible is an important financial decision.
There are various scenarios where refinancing may make sense and we assist with determining whether refinancing is truly in your best interest and selecting the most appropriate program if so.
--
Lower Rate
By refinancing your mortgage loan when interest rates are lower than that of your current loan, you can lower your monthly payment and potentially save thousands in loan interest over time. Whether this is truly in your best interest will also depend on costs involved, your anticipated time to remain in the home and other factors. Your loan originator will work with you to understand your needs and goals and help you determine what's best for you.
--Shorter Term
Another alternative for refinancing your mortgage loan may be perhaps to shorten your loan term. When rates are lower than that of your current loan, a new loan with a shorter term may have a minimal effect on your monthly payment, potentially save thousands in loan interest over time and allow you to build equity in your home more quickly as you’re paying it down and off sooner.
--Accessing Equity
Another potential reason for refinancing your home might be to utilize equity in your home to consolidate other debt, make other major purchases or investments, or other personal uses. This can be a wise approach but also increases the debt against your home and your monthly payment and the time required to pay off your home, if this is your goal. We can assist you in analyzing what is in your best interest and in selecting the most appropriate loan for your situation.
Business Loan
--Why Business Loan?
Businesses are costly to start and manage, particularly when beginning or expanding a business a significant sum of money is required to cover these costs. As a solution, businesses can take out a business loan to pay for their needs, but this must be repaid with interest.
A business loan should be used to cover costs that the company is unable to cover on its own at the moment, such as purchasing a storefront or office, paying for staff wages, launching advertising campaigns and investments in new company machinery or IT tech.
--Secured Business Loan
A secured loan is when an individual pledges a form of personal asset to the creditor, as a backup payment if they cannot make their scheduled loan repayments. In this situation, the lender will sell your promised asset to make up for the repayments. A secured loan’s collateral may include land, machinery, facilities, or vehicles, depending on the type of loan. Whereas a secured business loan has a lower risk for the lender, equaling in lower interest rates. For example, personal loan and credit card interest rates are usually 4-10% higher than a mortgage or home loan interest rate. If you can consolidate your debt under your mortgage, you will be paying substantially less interest.
--Unsecured Business Loan
An unsecured loan does not have a pledged asset as a backup for loan repayments. If you haven’t pledged specific collateral as protection on your loan, your savings can be used to repay the outstanding debt if you can’t afford payments.
Depending on which financial option you choose will heavily influence your loan’s interest rates. As the risk on an unsecured business loan is greater, so interest rates will be higher.
--Specialised Securities
Not all lenders will look at the security you are offering for a loan in the same way. Different lenders can have different opinions on the loan-to-value ratios of assets, which refers to the loan amount expressed as a percentage of the property’s value. A lender can refuse any asset they don’t consider valuable. When you think about it, refusing inexpensive assets makes sense…
If you have trouble paying your repayments and need to sell a security asset to repay it, the lender wants to know that the security asset can be easily sold. The bank would also want to know that the asset’s value is unlikely to fluctuate and lowers its risk level.
However, what could seem to be a sensible pledge to a lender is not always the answer you were looking for! Here’s where we come in. Our committed team of mortgage brokers are well-versed in a wide range of specialised securities. We already have partnerships with different lenders and can therefore source the best loan offer based on your needs. The most popular types of specialised securities includes:
Company title property, Multiple units on one title, Studio, Vacant Commerical land, Retirement units,
Holiday rental property-e.g. hotels, motels, etc.