Mortgage Brokers in Mississauga

Refinancing Mortgages

Refinancing a mortgage enables homeowners to lower mortgage interest rates, thereby reducing monthly payments. Homeowners achieve better rates because they have previously reduced the principal amount with their previous mortgage.

Refinancing is the perfect option for paying your loan off quicker, reducing monthly payments, or desire to tap into home equity.

Mortgage Plans for Home Buyers

Buying a new home shouldn’t be a challenging process. At Canadalend, we help customers find mortgage options suitable for their goals and current financial situation. We assist people with different credit and various income types to secure a mortgage to purchase their forever home.

Our team searches the market to provide you with the best offers based on your situation.

Second Mortgage Options

We provide second mortgages in Mississauga as the primary alternative to refinancing. It involves taking out a loan against a previously mortgaged home. Homeowners can increase their loan size by withdrawing more of their home’s equity. You can use it to pay outstanding expenses, purchase additional property, cover temporary needs, and more.

Solutions for Commercial & Industrial Mortgages

Canadalend has access to professional construction and commercial underwriters. So, whether your goal is to start a new company or invest in upgrading your existing one, we can provide you with the best commercial mortgage rates in Mississauga. We have 20 years of experience in land assembly, commercial, and construction financing.

Mortgages for Private Lenders

Private mortgages provide a solution for those who require additional financial options in Mississauga, Ontario. It is ideal if you are self-employed, have a poor credit history, or can’t obtain a mortgage from a bank. Investors fund this mortgage type, providing flexible lending processes. The amount received is dependent on your home’s equity.

Mortgages for Individuals with Poor Credit

Obtaining a loan is challenging with no credit or a bad credit history. Traditionally, homeowners in this situation would pay higher interest rates because they are considered high-risk. However, at Canadalend, we help our customers obtain the lowest rates possible while you build your credit score.

Mortgages for Self-Employed Individuals

With tighter changes in lending rules, it has become harder for self-employed individuals to get a mortgage. Traditional lending institutions view entrepreneurs as risky, requiring higher down payments despite a positive credit history.

While traditionally, self-employed individuals would have no choice but to pay higher interest rates with private lenders, Canadalend provides the opposite scenario. Our access to private lenders provides low financing rates. Since we have a larger lender pool, more lenders mean more competitive options and decreasing rates.

Loans Using Home Equity

If you own your home, you can obtain a loan. We examine your outstanding loans and your home’s value for a home equity loan. Furthermore, you can get either a HELOC or a fixed-term loan.

Fixed-term loans provide a single lump-sum loan paid monthly. Month-to-month payments remain the same for easy budgeting. HELOC is a line of credit. To qualify, you must have a good credit score and a minimum of 20% home equity.

Accessing Home Equity Line of Credit

With a Home Equity Line of Credit (HELOC), homeowners in Mississauga can borrow money at lower interest rates using their home’s equity. HELOCs are like using a credit card. Once you qualify, we establish a set spending limit that you can use whenever you need. We base repayments on the HELOC type, amount, and interest rate fluctuations.

Dealing with Mortgage & Tax Arrears

Tax and mortgage arrears place additional strain on families. We can alleviate your financial stress with a second mortgage or equity loan. Tapping into home equity assists in paying bills, and homeowners can use them in other ways.

Reverse Mortgage Solutions

Homeownership is beneficial in several ways. First, it provides you with finances when you need them through home equity. Second, property is one of the few investments that increase in value. Reverse mortgages allow owners to withdraw 55% of their home’s value.

Renewing Your Mortgage Agreement

Is it time to renew your mortgage? Homeowners don’t have to settle for what their banks offer when their term comes due. Shopping around for a better deal is prudent before committing. Our lenders will conduct extensive searches to get you the best deal for your situation at the best rate.