HomeLife All Points Realty Inc., Brokerage*

Phone:
705-315-7000
Contact Us

Qualifying for 95% Financing in general requires:

Good Credit

Stable employment for 2 years in the same industry

Proof of income to support the mortgage & other debt

95% Hobby Farm financing requirements OAC:

Includes house + 5 acres + one out building

NO part of the Farm Land can be leased out

Farm must produce under $50,000 income

Borrower must prove income to support the debt

Construction by a Builder with Tarion Warranty

Borrower is building a home to live in when complete

Both Spouses must currently own the property

One Spouse is buying out the other

Separation or Divorce Agreement required

Purchase or Purchase + Improvements

Proof of 5% Down Payment & or Gift Letter

Refinance or Refinance + Improvements

Save money by including Home Improvements

as part of your Mortgage Refinance

Information about the Seniors Reverse Mortgage:

There is no CREDIT Requirement

Very little income requirement  (Property tax & heat)

Take out equity from your home for any reason

Make Paymnets   or   Don't Make Payments

The Lender  Does NOT Get Your House (will explain)

When ready sell your house and pay off the Mortgage

This Mortgage is NOT for every one

I offer a FREE consultation to anyone that wants to talk

THERE IS NO PRESSURE OF ANY KIND

I have been helping Seniors my entire life

My Father was 60 years old when I was born

Please Be Warned     I talk too much     I like people

THERE IS NO SUCH THING AS QUICK PRE-APPROVAL

YOU CAN NOT BE PRE-APPROVED ONLINE

This is only a rate hold for so many days

Generated automatically by a computer

in order to get your mortgage if you qualify

_________________________

A REAL PRE-APPROVAL REQUIRES YOUR:

Job letter and current pay stub

T4's for the last two years

Income Tax NOA's for the last two years

Proof of down payment (3 months bank statements)

Proof of investments

A commercial copy of your credit bureau (lender copy)

 

The Basics for Residential Land Developments

You need 50% Land Equity

An institutional lender may OAC:

Give you a mortgage for the other 50%

Add soft costs

Add Servicing   (road, water, sewer . . .)

Add construction costs for a sales centre

Add construction costs for Pre-sales