Mortgage Loan Rates

Mortgage Refinancing London

Mortgage refinancing benefits homeowners in many ways. When refinancing, it is best to consolidate high-interest debt into your existing mortgage.

It allows homeowners to make one monthly payment and reduce interest rates, freeing up money. It also allows you to access funds for renovations, education, etc.

Our team works through different scenarios to provide the best solution. We make it easy to discover the advantages and disadvantages of every option.

Home Buyers Mortgage Plans

Whether you are buying your first home or looking to purchase a new one, we have a solution tailored to your situation. We work with people from various incomes, credit scores, and life situations to provide the best solutions for them. At Canadalend, all of our recommendations are based on what is best for our clients.

Second Mortgage

Second mortgages allow homeowners to borrow against their property. With a second mortgage, owners can obtain 80% of their home’s value after deducting the balance of the first mortgage.

Your property provides collateral for the loan. The main reason for getting a second mortgage is consolidating debt.

Industrial & Commercial Mortgage Brokers London

The demands of business owners, commercial real estate investors, and entrepreneurs vary.

Therefore, we provide various services and rates in London, Ontario, suited to their requirements. Commercial loans give companies money for property purchases. We also offer lending to those wanting to start a business or grow an existing one.

Private Mortgages

Are you finding obtaining approval for a conventional mortgage challenging? Since the CMHC created stricter lending rules, many Canadians have been denied mortgages. However, private mortgages might be your solution as they provide quicker authorization and base approval on equity—not income documentation or credit history.

Bad Credit Mortgages

Poor credit rating makes it challenging to get a mortgage or to qualify for a loan. With CMHC’s increase in credit score requirements, many traditional banks declined homeowner’s applications. However, with Canadalend, we have private lenders who can assist with your situation.

Lower rates mean you can save money while you build your credit score.

Self-Employed Mortgages

Business owners/self-employed people have unique mortgage challenges. Tax write-offs make income appear lower than what is influencing approval. Canadalend can assist you in getting money for your mortgage by accessing finances through our private lenders.

Private lenders provide short-term solutions for long-term plans. It enables entrepreneurs to establish credit while finishing a two-year self-employment timeframe.

Home Equity Loans

Home equity loans are a way to access your property’s equity. Equity is the sum of your home’s market value minus your current mortgage. Since market value increases the longer you own your home, home equity loans provide the perfect option when you want to make large purchases, do renovations, pay off debt, or any other reason.

Home Equity Line of Credit (HELOC)

A HELOC is a loan based on your home’s equity. It uses your property as equity and permits homeowners to borrow small quantities to remove what they need.

HELOCs differ from home equity loans, which allow borrowing of a lump sum. They require smaller monthly payments, making it harder to rack up debt, as you only borrow what is needed.

Mortgage & Tax Arrears

At Canadalend, we understand that unexpected challenges like job loss, sickness, and rising inflation can cause homeowners to fall behind on their mortgage payments.

Our expert London mortgage brokers examine your income and assess your situation to offer feasible solutions that decrease the overall strain on your finances, so you can restore your credit and get back on track.

Reverse Mortgage

Reverse mortgages allow homeowners aged 55 and over to access their property’s worth. By using residential property, we secure reverse mortgages with your primary house.

It provides tax-free money, eliminating the need to make continual payments. However, you can do so if you choose. If you don’t make any payments, your interest accrues from your equity. There are no penalties or defaults for non-payment.

Mortgage Renewal

Mortgage renewals provide an opportunity to examine what other lenders have to offer. While remaining with your current institution may be convenient, it may not be better in the long run.

When terms end, homeowners should take the time to reevaluate their current financial situation. We work with our clients to provide what they want while saving them money.