Debt Consolidation Refinance Mortgage
Call Us Now!
Justin - Victoria BC
Ally - Victoria BC
Kris - Victoria BC
Consolidating debts into a longer term mortgage structure can be a challenging decision. The further behind a borrower gets and the higher the debt balances and minimum payments rise, the less options become available. In every debt consolidation situation it is critical to explore the options as soon as the need for some relief situation. If the situation has gone too far we work with many lenders that will take on a more risky situation for a year or two so that we can re-structure and have you back with a traditional lender as soon as possible. There is a premium for these lenders but compared to alternative of a potential consumer proposal or bankruptcy which will have a devastating effect on your credit for years to come, this is a relatively small price.
How It Works:
Step 1: Your Unique Situation
We look at the big picture. What debts should be repaid, what can you afford to service each month and what equity is available. Together we make a solid plan to lower your monthly payments and minimize the amount of interest you are paying.
Step 2: The Mortgage Structure
We build your application and assess the market for the right product and the lowest rates and appropriate terms. There are many different products available depending on your equity position, credit rating and income situation. The majority of the time we can find the ideal solution the same day.
Step 3: Your Fresh Start
We work with the chosen lender to quickly pay out your existing debt and replace it with a lower interest single mortgage payment. We arrange the appraisal and organize the signing. The whole process can take less than a week from start to finish.
Victoria Mortgage News and Information
Bank of Canada will keep present level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program The Bank of Canada today maintained the target of its for the overnight price on the highly effective lower bound of ¼ %, with the Bank Rate at ½ %
Fixed or adjustable – it is the ongoing mortgage product decision many mortgage buyers are faced with. And it has only been made more complex since the beginning of the pandemic. Towards the second half of 2019, variable rates have been the most obvious and popular choice. But a great
Motions within the rental market are excellent signs of the state of housing affordability. When folks cannot find the money to purchase, they rent, and also when there is an influx of renters in a field with constrained housing supply, landlords are in a position to demand more. In Victoria
The Canadian national mortgage benchmark qualifying rate, or stress-test rate, has dropped for the second time in the past three months after 5-year fixed posted rate cuts by Canada’s major banks. The qualifying rate is now 4.79%, down from 4.94%. The current benchmark rate of 4.79% is just 0.15% above
On Friday afternoon March 13, 2020, Canadian policymakers from the Department of Finance, the Bank of Canada and the Office of the Superintendent of Financial Institutions (OSFI) announced a coordinated response to alleviate economic stress caused by the COVID-19 pandemic. The emergency measures, which are intended to ensure that the