B Lender Mortgages Toronto

We have worked with a variety of B lenders to help people with past credit issues. We will never turn down a client because of bad credit or loss of income. Our company has a proven expertise in handling customers with credit problems. We’ve helped people like you to own a home when they had lost hope after bankruptcy, a foreclosure or personal losses. We will even help you to build up your credit rating gradually.

Each B lender is different in terms of the factors they consider to determine your mortgage rate. Other additional costs like a commitment fee may be required for you to access financing. Our job is to ensure you spend only what you can afford so that it doesn’t put you in future debts.

If you’ve been turned down by numerous lenders due to bad credit or any other financial issue that lowers your rating, we can help. Allow us to get you the mortgage you need to buy a new home. With the help of our high-risk B lenders we will take you a step closer to owning a home. We have expert mortgage consultants who are experienced in dealing with clients in similar situations.

If your home is facing foreclosure, probably because of a poor credit rating, we can help you to avoid losing your home by getting a mortgage you can afford. We will work with you to evaluate your foreclosure options and source for the right financing for your needs.

Just remember that the rate may still depend on your credit score, your credit report, your down payment amount, your income, and the stability of your source of income. These are the known risks that dictate the kind of interest rate you will get.

The most common lender fee that a B mortgage offers is around 1% of the amount of the mortgage. This fee is collected to also protect the lender in case anything will happen to your payments. In some cases, the lender fee is lower but this can result to a slight increase in the interest rate.

For example, if your total mortgage is CAD1,000,000, 1% of that is CAD 10,000. You can still negotiate with your broker if you don’t want to pay that amount outright. He will just increase your interest so in turn you will still pay the lender fee but on a staggered basis. This can be better for your budget as you don’t need to have the money upfront. The increase in interest rate is also minimal.

Other than the lender’s fee, a B mortgage lender also charges broker commission. Broker fees can range anywhere from 1 to 2% of the total mortgage amount. The amount will also depend on how complex or how easy your situation is. If it is just a straight up sale with no problems or entanglements, your broker’s fee could be minimal. If your situation is a bit complex and you need the broker to facilitate so many different processes for you, the broker’s fee may be slightly higher.

A broker’s fee should be mentioned upfront by your broker. Knowing this type of fee will be added to your mortgage will help you plan your budget. This will also ensure that there are no surprises when the bill comes.

If you’re on a budget and need to cut costs but still want the services of a broker, a B mortgage lender is a good way to go. B mortgage lenders offer a wide variety of services including mortgage renewal and can help you with all your property purchasing needs.