Entrepreneurs/ Business Owners
Long Amortization Mortgages
Poor or Damaged Credit
Vacation Property/ Second Home
•For Recreational properties or secondary homes
•For Rental properties, not owner occupied
Home Equity Line Of Credit
•Open line of credit secured against property
•An alternative source of financing to borrowers who may not meet the criteria of institutional lenders, typically higher interest rates and fees.
Purchase Plus Improvements
•For a home that requires immediate upgrades, you may qualify for 95% of the costs, which would be added to your mortgage amount.
•A payment on the principal or the amount borrowed.
•A payment on the interest amount being charged.
Mortgage Loan Insurance (High ratio)
•Mortgage insurance provides default on high ratio insurance that protects the lender against the risk of lending to homebuyers who have less than a 20% down payment. You, the borrower, pay this premium, which is added to your mortgage principal and protects the lender in the even the mortgage is not paid.
•Your property taxes are collected with your mortgage payments and placed into a special account that your lender maintains in order to remit your property taxes and keep them current. In some cases this is optional.
• Some people prefer to take creditor life and disability insurance if it’s available from their lender. Others feel they have enough life insurance already to cover their mortgage.