B2B Bank’s Equity 50 program is great for individuals that have a hard time proving income in the traditional sources. Clients can access up to 50% of their home value on a first mortgage or refinance the current mortgage.
This program has proven to be especially popular with those in pension, and other people whose income does not meet their banks requirements of affordability, self-employed people whose notice of assessment income is not enough and part-time employees.
The B2B Bank’s Equity 50 program offers very flexible ratios requirements that are derived from a low-income period suffered by the family, easing the way out when families struggle to meet their current mortgage payments with their current lender.
If you are currently in a similar position as described above, you may consider the B2B Bank’s Equity 50 program as an alternative to refinance and consolidate your debts and better your current cash flow that may help you get back on your feet sooner rather than later.
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Clients can be self-employed, be on fixed income (such as pensions), or simply have limited income reported to CRA
400,000 Maximum loan amount
The client must have a domestic (Canadian) source of income
Mortgageis a registered agreement in a land titles office where security interest in a specific real property is held by a lender as a security for debt repayment by the borrower, a debt pledge
Each mortgage is a claim against the property; should the property be sold or foreclosed each claim is satisfied in order
What kind of mortgage can I help you with?
First mortgage: is the first loan registered in the title against the property
Second Mortgage: Is the loan that is registered second in time in the title against the property, is normally used to trade high credit card debts that carry high-interest rates for a low mortgage rate that eventually will reduce the cost of borrowing making it easier to eliminate that debt
A Mortgage can be conventional or high ratio Conventional mortgage: Usually when a borrower contributes a 20+% of the value of the property High ratio mortgage: Usually when a borrower contributes less than a 20% of the value of the property
A Mortgage can be open or closed:
Open: Allows the borrower to repay all or part of the principal at any time without penalties
Closed: Does not allow any prepayments or early repayments of the mortgage
There are different types of mortgage loans because they try to satisfy different needs according to the borrower’s lifestyles and affordability.
The Toronto mortgage agent of Mortgage Edge to get your first, second mortgage or line of credit that you need, apply online and deal with many mortgage lenders
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With me as your Toronto mortgage agent, you’ll have quick personalized service access to the best lenders and a complete array of mortgage products to get your mortgage loan approved.
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If you already own a property, request a property value & comparable sales report when you complete your online mortgage assessment
If you are looking for a Toronto mortgage agent or have questions about what type of mortgage you need, call now, or, learn about the following mortgage products
Whether you are looking for a mortgage to purchase a home, refinance your existing mortgage and your other loans or credit cards in order to pay less interest, or if you are looking for a commercial mortgage to finance your business, you can call me to help you get that financing that you seek.
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Mortgage Edge: a successful group of mortgage brokers in Toronto and servicing the entire province of Ontario with over 25 years of experience helping clients obtain and manage their mortgage with a unique philosophy to serve and protect the consumer
Mortgage agents and Mortgage brokers at Mortgage Edge, are committed to helping you make an informed decision when it comes to your mortgage, considering your personal financial plan and major life goals to grow your wealth, your mortgage will be one of your most important financial tools
One of our commitments as mortgage agents and mortgage brokers is to advise you considering your personal financial plans, and life goals to grow your wealth, we work hard and smart to protect your interests
What do you need a Mortgage Broker for?
Do you need a mortgage advice?
Do you need a report on your property to see if you have equity that you can use?
Do you need a mortgage refinance?
Do you need a first or second mortgage?
Do you need a secured line of credit?
Do you need to take some equity out of your property?
About myself as your mortgage agent, with certifications from CAAMP (Canadian Association of Accredited Mortgage Professionals), and years of experience at Mortgage Edge, committed to the consumer and lenders licensed Mortgage brokers & regulated by the Financial services commission of Ontario I am also a member of IMBA (Independent Mortgage Brokers Association), we observe our code of ethics and a deep customer protection philosophy .