A mortgage is an amount of money lent out based on the value of a home which in turn is used as collateral. This type of loan can offer up to 85% Loan to Value in instant cash for immediate needs and should serve as a long term (minimum 1 year) solution to help with emergency financial situations.
What is collateral?
Something pledged as security for repayment of a loan, to be forfeited in the event of a default.
What does LTV mean?
Loan to value is a comparison between the amount of money being loaned to the value amount of the property it is being loaned for.
How can this help me?
A mortgage loan get help you with unpaid credit cards, medical expenses, business startups and more.
- Employed Full time (35 hour/week min.)
- Property Ownership for a minimum of 60 days prior to application
- Owner Occupied
- some rental exceptions may apply
- LTV of no more than 85%
- subject to change based on locations
*All mortgages will be processed through Community Mortgage Services Corp.
Mortgages approved OAC and rates are subject to change without notice.
Community Mortgage Services Corp.
Brokerage License #10906
Unit 206, 10 Sunray St
Agent: Fanchea Barrieau