Large First Mortgage - Construction Company
A developer who runs his own construction company building homes and condo units in Calgary & Edmonton was referred to One Stop Mortgage Corp. He was looking for funding for a new development of his and came to One Stop Mortgage Corp. with a total construction cost of $1,900,000.00. He was looking for 60% loan to value to get the multi-unit project complete and into the marketplace.
Sergio arranged a 12 month open First Mortgage of $1,300,000.00 which allows for multiple advances and had an initial advance of $410,000.00. His credit score was 648.
He was delighted to have funding for his project at a fair rate within days of sending in his application.
Small Third Mortgage
A man in his late 50’s applied for immediate funding due to some unexpected cost’s he faced when dealing with personal matters.
He owned his home in North Vancouver, BC and was looking for a small Third Mortgage.
Mark was able to swiftly secure a Third Mortgage in the amount of $34,500.00, the applicant received the funds 4 days after he applied.
His Loan to Value went up to 67% ad he had a credit score of 597.
Medium First Mortgage
A woman living in Squamish, BC sent in an application in hopes to consolidate her existing credit card debt and purchase a new recreational vehicle (snowmobile) for the winter.
Saverio set her up with a Medium Second Mortgage in the amount of $50,000.00; The majority of which was to cover her high-interest debt with the remainder going towards her new toy.
Her Loan to Value went up-to 45% and her credit score was 546.