Refinance Mortgage 

  • RENOVATION FINANCING
  • INVESTMENT PROPERTIES
  • CONSOLIDATE DEBT
  • SECOND MORTGAGES
  • BRUISED CREDIT AND CREDIT REPAIR

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Sometimes, the house of your dreams is the one you're already living in.

Maybe it just needs some new landscaping, an extra wing for your growing family, an expanded kitchen, or a swimming pool in the backyard! A record number of Canadians have taken advantage of the historic low mortgage rates and rising real estate values and have tapped into their home equity through equity take-outs. There's never been a better time to access the extra funds that can help bring your home to that next level of comfort. Consider accessing the cash you need for the renovations and improvements you've been dreaming about!

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Investment properties are now accessible to many average Canadians
Investment properties - particularly smaller, residential real estate - are now accessible to many average Canadians. And as any homeowner will confirm, real estate has been one of the most attractive investment categories in Canada for the past decade. If you're considering an investment in real estate, start by having a conversation with an experienced Mortgage Broker, to explore some of the innovative new options and great rates available today.

Vacation Homes
There are many Canadians jumping at the chance to own a recreational property. The aging baby boomer population is flush with capital and an insatiable desire for a waterfront or other recreational property. And with the advent of better roads, Internet and telephone service, satellite service, and winterization expertise, people are realizing that vacation properties can make ideal retirement homes. No longer just perceived as a welcome retreat from the city, a second home is now viewed as a solid financial investment with the added value of a potential retirement property.

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Use Your Home Equity to Reduce Credit Card Debt
Many Canadians are taking advantage of refinancing some of the equity in their mortgage to reduce their credit card debt. Why pay high interest rates on your bank's credit card debt when you can add that debt to your mortgage and pay a much lower interest rate! One important part of a strategy is knowing "good debt" from "bad debt". A well-planned mortgage can help you turn those bad debts into good debts and get them out of the way.

  • Consolidate high interest rate credit cards to one lower rate.
  • Save money and increase cash flow.
  • Reduce stress knowing that your financial situation is now manageable.

If you'd like to have a conversation about refinancing your debt, give us a call today to review your options. It's time to beat the banks!

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Here at Homeguard, we believe that we can truly help you when it comes to mortgage financing.
Very often you hear “Make your Equity work for you”. Equity in a home is created overtime, through capital appreciation (increased value), by decreasing your first mortgage balance by making payments. Some homeowners may elect to borrow against the equity in their home to either receive cash, complete renovations, use for education for their children or to consolidate personal debts.
Our second mortgages can allow quality borrowers to access funds of up to 100% of your property value (Owner-occupied residential only). Interest rates will vary from prime rate and up, subject to: current land value, combined loan to value ratio, 1st + 2nd mortgage amounts and appraised market value.
There are many times that obtaining a second mortgage may be advisable relative to breaking a first mortgage, and paying high penalties. Homeguard’s mortgage agents can provide you with an analysis to help you make this decision.
Let us help you, call our office and get a free consultation today. We will listen to your requirements and provide advice on how to best structure your mortgage.
Contact our office for further details at 1(800)225-1777.
We look forward to hearing from you!

Do you have less-than-perfect credit?Homeguard CAN help !

If you have less-than-perfect credit rating, finding a mortgage can be very challenging. Our agents are specialists in this market; we will provide you with support throughout the entire process to make it as simple and painless as possible. We are able to offer strategic short-term solutions that allow our clients to get back into the prime market as soon as possible. We deal with a number of lenders and can help you re-establish your credit to make sure you get the very best deal available.

We can help with purchases and refinances, even with previous bankruptcy, judgments, and collections.We offer:

  • Short-Term 1-2 Year Options
  • Up to 35 year Amortization Options
  • Cash Out Equity
  • Full/limited or stated income documentation
  • Consolidation of high interest credit cards and loans

You should check your credit with either Transunion or Equifax annually to ensure its accuracy. If you notice any errors ensure you dispute them as soon as possible. For more information, contact one of the credit bureaus directly at:

TRANSUNION CANADA
1-866-525-0262   transunion.ca

EQUIFAX CANADA
1-800-465-7166   equifax.ca

The credit score is not a summary of the applicant's credit as of today. It is a prediction of the applicant’s likelihood to default on a debt over the next two years. The lower the score, the more likely that client is to default in the future, and therefore, the applicant is considered a higher risk candidate for a mortgage.

What do the R#'s or I#'s mean on my credit report?
The repayment history of the trade lines are recorded as follows:

  • R1 or I1: payments are being made on time and as agreed.
  • R2 or I2: payment is 30 days in arrears.
  • R3 or I3: payment is 60 days in arrears
  • R4 or I4: payment is 90 days in arrears.
  • R5 or I5: the unpaid balance is about to be sent to a collection agency.
  • R7 or I7: regular payments are being made under a consolidation order (OPD).
  • I8: security for the loan has been repossessed, either voluntarily or involuntarily.
  • R9 or I9: the outstanding debt has been sent to a collection agency.

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Type of credit – 10%

Amounts Owed – 30%

Payment History – 35%

Length of Credit – 15%

New Credit Inquiries – 10%

 
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