MORTGAGE Blog & ARTICLES

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What Services Do We Offer: Update 2015

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Residential mortgage

If you have a good credit history, we will help to get mortgage with a lowest mortgage rate in the market. Such rates (current lowest fixed 2.79% 5 year fixed closed) usually are not available at the bank branches as mortgage specialists do not offer the lowest discount rates. Also we can arrange mortgage for clients with less than stellar credit. In some cases credit as low as 550 can get a mortgage with as little as 15% down and rates starting at 3.99%.

 

Commercial Financing

Commercial Mortgages – $200,000-$50,000,000 Resourceful Capital Financial Corporation offers competitive mortgage rates for commercial and business projects. Similar to a residential home mortgages, commercial mortgages usually are owned by an individual or business. An initial application is required, and usually a larger down-payment is required for commercial properties. Interest rates are determined by credit scores and the ‘overall picture’. Resourceful Capital Financial Corporation provides services for commercial properties across Canada, and we in most cases oversee the project from start to finish. Please send us a request; also please include a purchase and sales agreement and MLS listing (if applicable) of the property for consideration

 

Debt consolidation

A Debt Consolidation loan is a personal loan that allows you to consolidate many other debts into one. For example, if you have four credit cards, you may be able to eliminate your credit card debt by getting a debt consolidation loan to pay off the credit cards, so that you only have one payment each month instead of four. One of the most popular forms of debt consolidation loans in Canada is a debt consolidation through refinancing your current mortgage on your home. In Canada, lenders will provide you with a mortgage for up to 80% of the value of your home.

 

Business loans. Credit lines

We can help you to get a business loan if:

  1. You have sufficient experience and training to operate a successful business?
  2. You prepared a loan proposal and business plan that demonstrate your understanding of and commitment to the success of the business?
  3. You can show that the business have sufficient cash flow to make the monthly payments?

Up to 100% business financing possible (for example to expand your current business).

 

Tips: How can you be ready for a business loan?

  1. Be totally open with the institution.
  2. Provide all necessary documents
  3. Provide statements of business activity
  4. Have a complete business plan. We can help you to create a business plan with the help of an accountant.
  5. Provide statements or quotes for what you will be using the money for.
  6. Use comparable models to better equip yourself.
  7. Use a portion of your money as a ‘down payment’.
  8. Have a long term game plan.
  9. Be realistic with goals and expectations.

 

Construction loans

Construction loans and mortgages we can help you get the best rates. Construction loans typically require interest-only payments during construction and become due upon completion. Completion for homeowners means that the house has its certificate of occupancy and tarion warranty.

 

Private mortgage

In some cases you have no choice but apply for private mortgage. Conventional lenders have turned you down and you are unable to obtain financing from other sources. Typically you will be self-employed or may have had some credit problems in the past. This does not mean you are a bad person; just that you do not meet the stringent lending criteria of the banks.

 

Maybe you are trying to buy that dream home but don’t meet the banks or CMHC’s requirements. Maybe you want to buy that small cottage in the middle of nowhere. Or maybe you are falling behind on your debts and need to refinance everything to try and save your home and stave off bankruptcy.

 

A private mortgage could be an ideal solution to your dilemma.
 
Yes, you will pay a higher interest rate and yes, there will be additional fees. Your interest rate and the fees involved in arranging the mortgage will be determined by the level of risk involved in the transaction. A typical borrower that is considered to be a moderate level of risk could expect to pay a rate between 8%-11% (for a first mortgage) and between 11% and 15% (for a second) and fees equal to 1-4% of the mortgage amount. High risk borrower might be requested to pay to pay a little more.

 

A private mortgage may only be a short term solution. Once you have demonstrated your ability to make your mortgage payments on a timely basis we will assist you to obtain mortgage from financial institution. Most bankers would take another serious look at your situation after about a year.

 

Car loans

 

Resourceful Capital Financial Corporation is dedicated to providing you with a one-stop shop for all your financing needs. From purchasing a home, business, consolidating debt loans, renovation loans to purchasing or financing a car. Resourceful Capital Financial Corporation will find a solution for your needs!
 
Automotive Purchasing – Every dealer has numerous cars available and can help you in any type of vehicle you are looking for. Vehicles are sold Certified and emission tested to meet Ontario license standards, unless noted. All the prices are extremely competitive.

 

Automotive Financing – To apply for a automotive financing please call us to apply or email for an application at [email protected] In the application, please include the dealership you are buying the car from and the registered VIN number of the vehicle. Resourceful Capital Financial Corporation requires this for ALL car applications. Please include a bill of sale at time of submission. Interest rates are determined by credit score and income. Rates range from 6.99%-29.99%

 

Investment opportunities

As a private investor you may be looking for ways to diversify your portfolio. We offer private investors an alternative wealth building tool with the benefit of real estate security and monthly income. We prepare a complete underwriting package on your behalf.

 

Contact us at 1-888-882-0786 to discuss what we can do for you.

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