First we seek out a low cost bank Mortgage approval. This is often the best option for those who enjoy healthy credit scores and sufficient easy to verify employment income.
If bank rate approval avenues are exhausted approvals from more flexible lenders, such as Aroi Mortgage Investment Corp., are sought. This increased flexibility does come at a higher interest rate.
Private lending Loan Examples*
*Disclosure on “Loan Examples” Above
All of the above examples are for discussion purposes only. It is important the reader is aware that the examples may represent the lower priced range of our product offerings. Rates on our loans are subject to change and may vary (up or down) based on the equity you have in real estate, the state / condition / location of your real estate, your personal financial situation and the Canadian mortgage market. The examples are all based on interest only monthly payments (you may elect to pick an amortization period to pay off your loan sooner) in which the rate in year 2 increases to 14% and 16% for the first and second mortgages respectively. The Cash Advance in all of the loans above represents the net amount of money to be received. The “Gross Amount” for the $100,000 / $300,000 / $25,000 / $50,000 loans in the examples above are $112,200 / $332,200 / $29,700 / $57,200 respectively. The difference between the Gross Amount and Net amount represents closing costs which includes items such as legal fees, appraisals, brokerage fees, etc. (“Fees”). The APR will increase / decrease in the event of higher / lower Fees.
3 Simple Steps • 24 Hr Approval
Using the form above or call 866-496-1100 to speak to one of our representatives
Approved with 24 hours. Your home equity is the key to your approval. Get approved now!
We make it easy. Loan funds can be deposited directly into your bank account, once approved.