I wanted to let you know about a new quick loan product available to Ontario Mortgage Deals clients that are homeowners in Ontario. Because it’s a new and innovative product, I wanted to share the news with you as soon as it became available to me. It’s very easy to apply for! Here are the details:
- Loans from $2,500 to $25,000
- Cash in your bank within 48 hours
- Simple one page application
- No legal costs (save a minimum $1,000)
- No appraisal costs (saves you $300-$500)
- No up-front fees or costs (no out-of-pocket costs)
- Amortized over up to 120 months (10 years)
- Fully open: therefore it can be repaid at any time with no pre-payment penalties
- Competitive interest rate of 8.99%
- This is not a mortgage
- It doesn’t show on your Credit Report
The money can be used for any purpose.
This product can be registered in the 1st, 2nd or 3rd position, but it’s not a mortgage, so it’s not going to show up on your Credit Report. This is just one of the ways mortgage brokers serve our clients better than banks – innovative products and services!
Who can use this:
- AAA clients who need a quick loan to pay off credit card debt, vehicle loans, lines of credit, etc.
- Anyone who needs to lower their monthly payments (car, credit cards, loans) to qualify for a new mortgage under the new B-20 guidelines.
- Clients who need to improve their GDS/TDS ratios.
- Anyone who wants to do some repairs or renovations to their home, without going through the trouble of getting a line of credit, or secured VISA card.
Your trusted mortgage advisor for life,