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Financing a Luxury Condo

Feb 8th, 2018
Home Value: Current Mortgage: Need:
$ 1,070,000 $ 0 $ 770,000

Challenge

Client purchased a luxury condo pre-construction and put forth a $300,000 deposit

In the time it took for the condo to be built, the client went through a difficult divorce that left his finances in disarray and bruised his credit history. Volatile values make these types of properties undesirable for major lending institutions. When you are heavily invested in a purchase, we can help you problem solve any issues that may arise.

Solution

1st mortgage for $ 790,000

  • Manageable monthly payments and a completely open term
  • Client did not lose his deposit
  • The property was sold at a premium and the client paid no mortgage prepayment penalty

If you're considering getting a mortgage in the Ontario Canada area our private lenders make it easy. We work with a large pool of lenders and have access to bulk discounts that allow us to offer you the very best deals in the province.

 

Sub-title

GET INSTANT APPROVAL
FOR UP TO $300,000