Services include Home Mortgage Loans, Bad Credit Mortgages, Refinancing Mortgages, Mortgages for 1st Time Home Buyers
Are you looking for a residential mortgage loans in city? Our mortgage brokerage can connect you to a network of over 100 Ontario mortgage lenders all competing for your residential mortgage business in city, allowing you to find the right residential mortgage loan solution at lowest possible rate.
If the bank said no or you have bad or poor credit we can still help you find the right residential mortgage in city.
We can Help! Contact us today at 1-888-932-1119 to speak with your local residential mortgage loan professional servicing the city area.
We also specialize in providing the following services in city – Second Mortgages, Debt Consolidation, Mortgage Refinancing, First Mortgages, Commercial Mortgages, Residential Mortgages, Home Equity Lines of Credit, Commercial Loans, Bad Credit Loans, Mortgage and Tax Arrears.
A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise capital to buy real estate; or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is “secured” on the borrower’s property. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property (“foreclosure” or “repossession”) to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a “Law French” term used by English lawyers in the Middle Ages meaning “death pledge”, and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. Mortgage can also be described as “a borrower giving consideration in the form of a collateral for a benefit (loan).
Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants or an investment portfolio). The lender will typically be a financial institution, such as a bank, credit union or building society, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender’s rights over the secured property take priority over the borrower’s other creditors which means that if the borrower becomes bankruptor insolvent, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first.
In many jurisdictions, though not all (Bali, Indonesia being one exception), it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for home ownership is highest, strong domestic markets for mortgages have developed.