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Category: Debt Consolidation

23 Jul, 2024 line of credit vs mortgage for home renovation
Jeff Di Lorenzo Alternative Mortgage,Debt Consolidation,Home Equity Loan,How To....

Line Of Credit Vs Mortgage: What’s The Difference?

Choosing between a line of credit vs a mortgage is simple once you understand how each one of them works. In this post, we’ll explain the differences between the two most popular home equity loans homeowners can choose from, so you can make an informed decision.

We hope this article will help clarify any questions you might have and give you a roundup on the basics of home equity lines of credit vs mortgages.

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6 Jun, 2023 house loan bought using private home loan lender
Jeff Di Lorenzo Debt Consolidation,Private Mortgage Lender

The Insider’s Guide To Private Mortgage Lenders In BC, Canada

Private mortgage lenders, also known as private home loan lenders, represent a segment of the lending market that is often misunderstood. Unlike traditional banks and financial institutions, private mortgage lenders in BC, Canada are usually companies or individuals that provide mortgage loans using their own funds.

They don’t rely on public deposits or similar means of funding. Instead, they provide home loans to individuals who may not qualify for mortgages from traditional lending institutions, often due to unique or challenging financial circumstances.

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10 Apr, 2023 woman celebrating a good debt to income ratio
Jeff Di Lorenzo Debt Consolidation

Understanding The Impact Of Your Debt To Income Ratio On Mortgage Approval In BC, Canada

When planning to purchase a home, applying for a mortgage is a significant financial decision. In this case, understanding the factors lenders in Canada consider when evaluating a borrower’s eligibility for a mortgage becomes essential. One such factor is the debt-to-income ratio (DTI).

In this blog, we will delve into the impact of the debt-to-income ratio on mortgage approvals in BC, Canada.

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28 Apr, 2021 paying a consumer proposal with a mortgage
Jeff Di Lorenzo Alternative Mortgage,Debt Consolidation,Home Equity Loan,How To....

Using Your Mortgage To Pay Out a Consumer Proposal In BC

Usually, when people file a consumer proposal, it is to assist them with debt consolidation by restructuring it all into one manageable payment. Once they’ve done this, homeowners usually see significant cash flow relief but still have this monthly bill looming over them.

If you are living in British Columbia and are looking for debt load relief by paying out your consumer proposal early, then keep reading!

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15 May, 2018 Mortgage Deals November 2018
Jeff Di Lorenzo Alternative Mortgage,Debt Consolidation,Home Equity Loan,How To....

How To Get A Home Equity Loan Bad Credit

Home equity loans can be used for a variety of reasons even bad credit. When you have bad credit a home equity loan can allow you to payout or negotiate your debts which should improve your credit and improve your chances of qualifying back at a bank in as little as 12 months. Second mortgages are mostly used when consolidating your debts into a bad credit mortgage loan.

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8 May, 2018 home equity loan
Jeff Di Lorenzo Alternative Mortgage,Debt Consolidation,Home Equity Loan,Mortgage Solutions

What to Consider When Looking at a 2nd Mortgage in BC

Second Mortgages are a fast and easy way to obtain money using a home equity loan to do things like: debt consolidation, home renovations, create fast business capital if your self employed, pay outstanding bills like taxes or liens. These are great for reducing payments, paying out debts or increasing cash flow but what else should you consider?

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6 May, 2018 small house made of jenga blocks sitting on grass
Jeff Di Lorenzo Alternative Mortgage,Debt Consolidation,Home Equity Loan,Home Improvement,Mortgage Solutions

B Lender Mortgage Rates In BC Canada

If your income doesn’t qualify you for a bank loan and a B Lender is your only option, you might be wondering how much B Lender mortgage rates would cost you. B Lender rates in BC Canada for 1 year fixed rates can start as low as major banks’ 5 year fixed rates. What is important to keep in mind though, is that B Lenders do charge a lender’s fee while the responsibility for all legal & appraisal costs is on you. Since not all B Lenders have the same fees and their mortgage rates are set on a case by case basis, there may be additional costs involved, so get in touch for a complete review of your situation.

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