Lethbridge Real Estate
Photo Courtesy: Robert W. May Title: Sunset on New Havana
Just got an email from one of our private lenders. They are offering a unique product which basically amounts to 85% financing for clients with slightly bad credit or otherwise challenged mortgage applications.
This is a great opportunity for those who have been held back and not had financing available to them because of these issues. A client who now suffers from some weak credit can buy or refinance with only 15% equity.
Of course, with this type of mortgage product there are slightly higher interest rates and sometimes a lender fee collected, but in the end this mortgage product still serves a niche market of Canadians who just do not fit with the traditional big banks mortgage guidelines.
At Verico Canada First Mortgage, we pride ourselves on staying on top of the mortgage industry changes and opportunities. We make sure we know of all of the possible solutions to help every client with their distinct needs. This is great news for those of us who do not fit the traditional oldschool mold. Give us a call for help financing your Lethbridge real estate or for your properties located in other parts of Canada.