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Unlike traditional mortgages, private mortgages are not issued by a bank or financial institution. Also, while traditional mortgages require a strong credit history to qualify for the loan, private mortgage lenders are much more flexible. If you can pay an adequate down payment, or if you have enough equity in your property, a private mortgage is much easier to obtain. If you want to get more information visit: http://www.amanduggal.ca for best Private Loans Surrey.
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Why Choose us • Secure the right loan. While Aman looks for the best, most affordable rates for your mortgage, he also ensures your loan terms are a fit for your financial situation and long-term goals. He’ll listen carefully to understand your needs, then he’ll put your interests first through the entire process. • Get the best rates possible. Aman is associated with the Dominion Lending Mortgages Centre and maintains tie ups with various mortgage companies, banks and credit unions. These valuable partnerships increase your lending options by the hundreds, giving Aman access to plenty of lending offers, discounted rates, more flexible.
Our Services • First Mortgages • Home Equity Line • Mortgage Refinancing • Second Mortgages • Private Mortgage
First Mortgages • What is a first mortgage? A first mortgage is the original and primary loan a home buyer secures to purchase a property. This loan category does not apply only to first-time home buyers. Instead, the loan is first because of its priority position against any other loan that might be taken against the property. In the event of a default, the first mortgage must be paid first. • Are you ready for a first mortgage? If you’re ready to buy a property, whether you’re a first-time buyer or not, you may need a loan from a financial institution to finance the purchase. But, keep in mind, this is a big and expensive decision to make.
Home Equity Line • What is a home equity loan? A home equity loan allows a homeowner to borrow a lump sum of money that’s based on the owner’s equity in their residential property. Similarly, a home equity line of credit qualifies a borrower for a maximum amount, which can be withdrawn as needed, and the borrower only repays the withdrawn amount. The homeowner’s equity, which is the value of the property minus any mortgages against it, informs the prospective home equity lender about the likelihood of the loan being repaid, especially if the homeowner is still making first mortgagepayments. In general, you will need at least 20% equity in your home before you are eligible for a home equity loan.
Mortgage Refinancing • What is mortgage refinancing? • Mortgage refinancing occurs when you replace the current mortgage or mortgages on your property with a new mortgage, which typically has more favorable terms than the original loan you received. If you choose to refinance your mortgage, you will initiate a new mortgage application process. When approved, the new mortgage is used to repay to original mortgage(s), while you agree to the terms of the new loan. • Refinancing your mortgage can be even more complicated than choosing your first mortgage. Before starting the process, you want to be certain your timing is right by regularly evaluating the market rates in your area. You also want to choose the right type of loan that suits your financial situation and refinancing goals, whether it’s a fixed-rate mortgage or an adjustable rate mortgage. After careful research and weighing your options, you will choose the best mortgage refinancing company for your new loan and submit your application.
Contact Us Address: Unit 102- 6321 King George BLVD, Surrey, BC V3X1G1 Cell (604) 368-2030 Website URL: http://www.amanduggal.ca
