mortgage situations and they don’t know
how to get these problems resolved. People
run into hard times down the road and majority
of the time these hardships are more often than
not unforeseen. We at Fair Mortgage Solutions specialize in these complex situations, we thrive on these deals because the rewards that come with every deal are absolutely indescribable.
Some of the situations I would be referring to are:
1. Divorce/Separation
2. Job Loss
3. Injured at work
4. Consumer Proposal
5. Bankruptcies
6. Illness
Variable 2.15%
1 Year 2.65%
2 Year 3.15%
3 Year 3.45%
4 Year 3.99%
5 Year 3.94%
10 Year 5.35%
Interest rates can change at anytime without notice!
Depending on the situation, most of the time we can resolve any issue by refinancing your current mortgage including all of your debts. We have access to equity lenders that don’t require a lot of documentation to finish the deal, all they require is a larger down payment. Also, we utilize several private lenders that will aid in these complex situations.
We make sure that if the situation is considered complex, than we make sure it's a win - win for both the client and lender. Our main concern is that our clients get back on track and we get the lenders on board to aid in the re-establishing process.
A pre-approval is great! The advantages are:
- Lock the interest rate for up to 120 days. This has been proven to be invaluable.
- You are not committed in anyway, shape or form. Let me earn your business.
A pre-approval is a mix of your income, down payment, interest rate, and credit rating to see if you qualify for the mortgage.
- Your Address
- Your Date of Birth
- Social Insurance Number
- Current employer, income amount, and for how long have you have been employed there.
- Down payment amount and where it is coming from.
Second mortgages have been proven to be invaluable in some cases. Second mortgages are very useful and if they were to banish from the market than we would have a severe
problem on our hands.
Generally, second mortgages are more complex than a much larger first mortgage. There are fees associated with a second mortgage and the interest rates are much higher. Second mortgages do serve a purpose. The pros about second mortgages are it's fully OPEN, can make prepayments at ANYTIME and in any AMOUNT.
Whenever we are doing second mortgages for any of our clients, we always make sure it’s SHORT TERM, that way when your first
mortgage is up for renewal we combine the first and second mortgages together at that time.
It’s a great way to pay off your consumer, or any debts that you want to get rid of. Again, we would only go this route if your credit situation was not the greatest.
During that 1 year term, we give our clients a clear blueprint of how to get their credit back on track. That way when it’s time to combine the first and second mortgage we have a lot more bargaining power with the lenders to secure you a great rate. It’s up to you whether you choose to follow our advice, but if you do, we will coach you every step of the way and make sure you attain success.
