Equity Based Mortgages

Equity based mortgages are a great option for those who have a damaged credit history or are unable to prove income. If you can provide a large down payment or if you have equity in your current home, there is still an opportunity for you to own a home.
 
Purchases

There is now the option to obtain mortgages based on a down payment of 25%. This product enables you to borrow up to 75% of the value of the home. The focus on this program is on the common-sense underwriting and the quality of the real estate. The marketability and the location of the property are extremely important. Generally, clients receive higher rates depending on the quality of their credit.

Refinances

In order to be approved, you will need to have at least thirty percent equity in your current home. In this scenario as well, clients typically receive higher rates depending on their credit quality. The marketability and location of the property are taken into consideration.



Kelowna Mortgage Brokers

  • First time Home Buyers Plan
    One of the most important financial decisions you will ever make is purchasing a home and securing your mortgage. This is a huge commitment. It is helpful when the process can be simplified. There are a variety of mortgage professionals who can ... More
  • Mortgages for Self-Employed People
    Genworth and CMHC recognize the unique financing challenges faced by self-employed Canadians. In order to help clients realize their dreams of homeownership, Genworth and CMHC offer mortgage loan insurance options for self-employed borrowers, ... More
  • Refinance and Debt Consolidation
    It is possible to refinance up to 80% of the value of your home without relying on CMHC! Thanks to the major appreciation in housing prices during the past 7 years, a variety of consumers have been able to take advantage of certain ... More
  • Renewals and Transfers
    To transfer your mortgage from one banking institution to another, there is no cost, no penalties, no appraisal fees and no legal work, as long as you are at the end of your mortgage term. Even with all of these benefits, mortgage renewals are ... More
  • Cash Back Mortgages
    For the most part, cash-back mortgages have not been that popular since the 2008 financial crisis. Before we can completely write them off, let us discuss if they why some people choose this option. Is A Cash-Back Mortgage Worth It? ... More
  • Home Equity Line of Credit
    A Home Equity Line of Credit or HELOC is the process of using the equity in your home to get a secured line of credit. With a Home Equity Line of Credit, equity can be released to be utilized for any purpose. It may even be used to establish a ... More
  • Investment Property Mortgages
    Highlights a) Extended Amortizations of up to 35 years, with Variable, Fixed and Adjustable Rate Mortgages Permitted b) Very good rates, very close to the best if not the best c) Up to 80% LTV for a 1-4 unit Rental Property ... More
  • Construction Mortgages
    Mortgage Options There are a variety of new kinds of construction financing available. Building a home can be a complicated endeavor; therefore, your mortgage should be simple. Basically, there are 3 categories of construction ... More

Kelowna Mortgage Brokers

Kelowna Mortgage Brokers
1290 St Paul St #316
Kelowna, British Columbia

Phone: 250.469.9176