If you need a private loan or mortgage please call us for more information. Mortgage brokers in Alberta fill a void that major banks and financial institutions do not want to fill. Mortgage brokers in Alberta can provide loans to people that have bad credit or are self employed. Brokers can also provide higher ratio mortgages. Mortgage brokers are the main source of financing for second and third mortgages. Mortgage brokers in Alberta will accept a higher level of risk and they also charge a higher interest rate. Brokers can get you the money you need until you can arrange lower cost financing.
Mortgage brokers in Alberta understand that there are many Canadians that have been self employed for many years. Many of these people are small business owners. They make an above average income but include personal expenses to reduce their income. This results in a lower tax bill. This may indicate that the borrower has little or no income.
For most mortgage transactions a private lender will require an appraisal of the property. Appraisers provide an independent unbiased estimate of the property value. An appraiser will compare your house to three other similar houses that have recently sold in your area. Adjustments will be made for factors such as different house sizes or the number of bedrooms. The loan will be based on. the appraised value. Therefore as the property owner you should make sure the house is clean before the appraisal is done.
Mortgage brokers in Alberta can provide loans or mortgages for people with good or bad credit. Our brokers can match your loan requirements with lenders that provides funds to people in your situation. For a free consultation on how Mortgage brokers in Alberta can help you, call us today.