Fredericton, New Brunswick mortgage brokers can help you get the money you need to refinance your present mortgage. Getting a mortgage in the Maritime provinces can be a difficult process. Our St John mortgage brokers understand the local mortgage market and have lenders to meet your needs.
Most lenders in Fredericton have a maximum loan to value ratio of 75%. If you have a excellent credit history and a good job you can qualify for a low interest mortgage. Many people do not have an excellent credit history or a steady high paying job. For these people our mortgage brokers can help with a mortgage from a private investor.
Our lenders offer a wide selection of mortgage, loan products and flexible amortization schedules. Homeowners have benefited from using various forms loans to reduce their cost of borrowing:
Home equity loans can help pay for a child’s post-secondary education or a client can use the money to improve their job skills.
Many clients use home equity loans in St John for home renovations. Major home improvements can be very expensive and therefore they never get done. Homeowners can now use the equity in their homes to get a second mortgage.
Family vacations, weddings, or other expenses can be paid for with a home equity loan.
Unforeseen illness or other emergencies can lead to extremely stressful situations.Our mortgage agents in St John can help in these difficult times.
A client wanted a home equity loan in Fredericton her credit score was 560. A 560 credit score is a bad credit score, the total LTV would be 70%, which is good. The bad credit score was the result of not paying credit cards on time. By paying the credit cards of or on time we can now improve the clients credit score. In about 1 year the client will be able to go back to a traditional lender.
The amount of money you can borrow against your home depends on a number of different factors. The equity in your home, credit score and your current financial situation are the main factors.
Call or email our Fredericton, New Brunswick brokers a free no-obligation quote.