Recently Funded Mortgages
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Client Situation: Single mom who was struggling with her credit after a divorce.
Purchase Price: $100,000
Funded Amount: $95,000
Down Payment: $5000
Loan to Value: 95%
Rate: 5.09%
Insured: CMHC Location: Sudbury, Ontario
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Client Situation: Client had few late and missed payments, income and time at job was strong. Client was unable to get approved through his local bank or local mortgage brokers.
Purchase Price: $325,000
Funded Amount: $325,000
Down Payment: $0
Loan to Value: 100%
Rate: 5.20%
Insured: Genworth Location: Ottawa, Ontario
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Client Situation: Couple had a lot of debt and had lower credit scores because of late payments and one collection. Could not get approved through their local bank.
Purchase Price: $145,000
Funded Amount: $123,250
Down Payment: $21750
Loan to Value: 85%
Rate: 7.5%
Insured: Self-insured. Location: Ottawa, Ontario
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Client Situation: Clients where only 7 months discharged bankrupts. Income and time at job where strong.
Purchase Price: $245,000
Funded Amount: $24,500
Down Payment: $5000
Loan to Value: 90%
Rate: 8.5
Insured: Self-insured Location: Toronto, Ontario
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Client Situation: Clients where 1 year discharged bankrupts with some re-established credit.
Purchase Price: $325,000
Funded Amount: $292,500
Down Payment: $32,500
Loan to Value: 90%
Rate: 7.5%
Insured: Self-insured Location: Ottawa, Ontario
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Client Situation: Clients where behind on bills and first mortgage due to a lay off. They had poor credit and had been turned down everywhere.
2nd Mortgage: $37,000
Funded Amount: $37,000
Down Payment: $0
Loan to Value: 95%
Rate: 14.63%
Insured: Self-insured Location: Novar, Ontario
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Client Situation: Couple was seeking to buy the property that they currently lived in. Clients only had 5% to put down. They had almost given up and had been turned down by their bank and other brokers.
Purchase Price: $152,000
Funded Amount: $144,400
Down Payment: $7600
Loan to Value: 90%
Rate: 7.65%
Insured: Self-insured Location: Penetanguishene, Ontario
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