​​​​Debt Consolidation Refinance Mortgage

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Justin - Victoria BC

Dealing with Andrew at Victoria Best Mortgage was a great experience. He was always quick to answer any emails and always returned calls immediately which was a great change after always being frustrated dealing with big banks for a mortgage. I will use this company for all my mortgage needs in the future, no need for big banks, thanks Andrew!

Ally - Victoria BC

I had an excellent experience getting my mortgage through Andrew Libera at Victoria’s Best Mortgage. Andrew very quickly understood my particular circumstances (whew), and therefore he was able to identify the best mortgage plan for me. Then he found the lender and made it happen!
This translates into excellent long term planning for me. I feel as though I can breathe financially. Plus I know I got the best rate. He did exactly what he said he would do, & was always quick to answer my emails and phone calls. He helped me through what could have been a very stressful time, and instead he made it a smooth and straight forward process. Andrew is very knowledgeable and professional. He told me exactly what to expect. He is very easy to speak with, and a good listener. I feel very comfortable giving him a 5 star review. i would recommend him to anyone shopping for a mortgage.

Kris - Victoria BC

Thanks Andrew! Really puts clients first and works hard finding the best product. Very friendly and professional. Best broker in Victoria!

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Call Us Today!  250.483.5558

Call Us Today! 250.483.5558

​Debt Consolidation Mortgages
(...what you need to know)

Your Mortgage Pre-Approval

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:

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.

Our initial consultation is all about you. We can meet in person or schedule a short phone call. We know the questions to ask to get the heart of your pre-approval requirements quickly. Will this home be your primary residence? Will there be rental income from a suite? Or will this property be an investment rental property? Each home purchase and pre-approval situation is unique. We take the time to understand what your immediate and long term goals are so that you are purchasing with confidence.
Step 1: Your Mortgage Needs

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.

Step 3: Your Pre-Approval
Once you have your pre-approval you can search for your new home with confidence. You’ll know the type of property, the price range and whether there must be an income suite. As the property is the asset that is securing the financing, the property itself plays a very large role in the final approval. In general you will want a thorough home inspection, and the lender may need a full appraisal of the property in order to meet the final mortgage approval criteria.
Get Us Working For You!

Call Us Today!  250.483.5558

Call Us Today! 250.483.5558

Victoria Mortgage News and Information

May 2017 – Victoria Real Estate Market Update
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Gifted Down Payment and CMHC
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Residential Market Commentary – week of February 6, 2017
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9 Sensible Strategies to Help you Thrive in 2017
Canadians are definitely talking about the housing market – what do the new mortgage rules mean, is this the right[...]
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Residential Mortgage Market in Canada
From amortization periods to how happy Canadians are with being homeowners, in a recent survey by the Mortgage Professionals of[...]
BC Housing and Mortgage Activity During 2016
If you are like me, then you are going to enjoy quickly reading the state of mortgage industry in Canada. [...]
Victoria, BC: Interesting Mortgage Stats!
In the “Annual State of the Residential Mortgage Market in Canada” some very interesting mortgage stats were released…see how your[...]
Understanding the “Collateral Charge” Mortgage
What is a collateral charge mortgage?  Here’s how it works: the bank registers the mortgage for more than the value[...]
Opening Doors, Not Building Walls
I like to open doors… not build walls. If you’re self-employed, you may have already experienced “the wall”.  There are[...]
Get Us Working For You!

Call Us Today!  250.483.5558

Call Us Today! 250.483.5558