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January 2019 Recently Funded

Second Mortgage Surrey BC

Funds to consolidate debt and complete renovations to client’s surrey condo. This was a previous client with a proven payment track record. Was able to provide financing to 65% of BC Assessment

2nd Mortgage Rate 7.95%

Total Mortgage $55,000

 

Private 2nd Mortgage Langley BC

Both clients had lost their jobs and had new jobs starting the week of funding. Funds were to consolidate debts and bridge themselves until new jobs first cheque. We will be looking to go back to the bank and consolidate the 1st & 2nd once they pass probationary period.

Second Mortgage Rate 10.95%

Total Mortgage $45,000

 

Private 2nd Mortgage Self Employed Langley

Client was looking to put some money into a new business. Clients credit was great but new income will not allow us to qualify under banks income guidelines.

Private Mortgage Rate 8.99%

Total Mortgage $107,000

 

Private 2nd Mortgage Langley

Client was BFS consultant for a several of years. He decided he wanted to go back to be an employee with a significant wage cut for the first year. Property is in ALR and recently subdivided.

Equity Loan Rate 8.60%

Total Mortgage $65,000

 

Private 1st Mortgage Mobile Home

Clients have poor credit due to maximising on too many tradelines, but common-law husbands’ income was strong. Husband was required to sign a guarantor.

Private 1st Mortgage Rate 11.2%

Total Mortgage $100,000

Second Mortgage Richmond BC

Past client with good payment history. Has a very low rate with the bank and still has 3 years left until term is up. Looking to consolidate debt and buy a new car. 2nd mortgage was more cost effective than paying the penalty on the 1st mortgage and raising her 1st mortgage rate by 1% .

2nd Mrt Rate 8.6%

Total Mortgage $105,000

 

Half Interest 1st Mortgage

Client lives in a home and wife lives over seas. Client looking to borrow on his half of the homes equity to start up a new business.

Half interest 1st mortgage rate 10%

Total Mortgage $75,000

 

2nd Mortgage West Kelowna

Past client requiring additional funds on a 2nd mortgage in West Kelowna BC. Funds for business capital

Total 2nd mortgage to 70% LTV $40,000

Rate 12.99

 

1st Private Mortgage Surrey

Client is BFS with low income claimed on taxes. He and a business partner owned the home together, but business partner became ill and wants to settle his estate and be paid out of the property.

Private 1st Mortgage Rate 7.5%

Total Mortgage $340,000

 

2nd Mortgage Victoria BC

Past client with poor credit and a consumer proposal. Funds to payout consumer proposal and fix up coach home for new tenant.

Second Mortgage Rate Victoria BC 11.5%

Total 2nd Mortgage $84,000

 

Second Mortgage Port Moody BC

Funds to payout consumer proposal and education.

Total Mortgage Amount $115,000

Private Mortgage Rate 10%

 

2nd Mortgage Mission BC

Client was at renewal and wished to borrow additional funds to spruce up her home to list it for sale. Past client with an excellent payment history. Able to provide 65% loan to value of BC Assessment no appraisal.

Private mortgage rate 8.99%

Total Mortgage Amount $115,000

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