Mortgage Services in Toronto, Ontario
Below are the services we offer:
Below are the services we offer:
The first step we recommend in the process of purchasing a home is to get pre-approved. This will let you know how much money you qualify for and the best interest rates available. The pre-approval does not lock you into a mortgage, but acts to hedge you against rate increases providing you with a set interest rate and a financial ceiling to start shopping with.
We review each and every pre-approval request and make sure that all the I's are dotted and T's are crossed, before any sort of pre-approval is issued. We are very familiar with each lenders requirements and what conditions to be wary of. This is our job and we expect our consultants to be well versed, so that they represent our clients with the utmost financial knowledge.
Once you get fully pre-approved, you'll have a clearer idea of the mortgage you can afford. You'll be able to look at homes within your price range. When you fall in love with a home, there will be much less opportunity for something to go wrong. Plus, when you do find the right home, if you are already pre-approved, your offer will be stronger.
The seller will be more likely to look at your offer favourably, since you'll already be approved for a mortgage loan.
All you need to do is fill out this application form. We'll review it and then schedule a consultation with you. We'll answer all your questions and make financial planning easy for you. For more information or to speak directly to a mortgage consultant click here.
Refinancing is the process of paying out your existing mortgage to setup a completely new mortgage on your property. Specific reasons why you might consider refinancing include lowering interest rates, altering amortization or other mortgage terms, debt consolidation, financing investments, the purchase of another property, home renovation or even financing your child's education. Medley Mortgages can provide you with the technical expertise to assess your needs, the costs involved and provide you with a comprehensive analysis to make sure you are making an informed decision when considering refinancing.
The idea of refinancing is to put the equity in your home to work providing access to additional funds. You can unlock up to 80% of your home's value with the help of Medley Mortgages. To access these funds you can choose a variety of options like: increasing your first mortgage; negotiating second mortgage; or, taking a secured line of credit. When the funds are secured against your property, they are available at much lower interest rates helping you save money.
Reasons to Refinance
Debt Consolidation- consolidating debts from various sources into one single payment will decrease your interest costs, and decrease your monthly payments, and enhance cash flow. It's a win-win-win scenario. If your consumer debts have gotten out of control this is a great solution. Better than paying exorbitant credit interest rates, you can secure the debt against your home a much lower rate and amortize it over a fixed period of time.
Financing a Renovation - if you are undertaking a major renovation, it might be easier and less painful to use your home's equity rather than negotiate a high-interest, unsecured line of credit or, even more costly, using your credit cards to finance the work. Why pay more than you have to?
Financing an Investment - this option puts your money to work for you. If done properly you can purchase an investment or do a debt swap and make the funds tax deductible. For high income earners you can cut the cost of after-tax interest drastically if it is setup properly.
Financing Another Property - you can use your home's existing equity as a down payment for an additional property, or potentially to purchase that dream cottage or retirement property down south.
Refinancing your home is definitely an approach worth considering, but not without a comprehensive analysis of the costs and a review of the options. Medley Mortgages would be pleased to help you and calculate the costs involved and the potential savings and/or benefits you would receive. Our goal is to help you make the most informed decision possible. For more information or to speak directly to a mortgage consultant click here.
When your mortgage term is up, it becomes open for renewal. This often causes stress and anxiety for many people, so they take the easiest way out they accept their current lender's first offer. However, this offer usually is not the best option, and often costs the client thousands of dollars in higher interest rate fees. These costs could have been reduced by a mortgage profession, working strictly for you. Let Medley Mortgages help you save money.
Banks know that mortgage renewals take time and that many clients believe that if they have made their payments on time the lenders will offer their best rates. Don't fall into this trap. We follow interest rates daily and can start securing your new rate up to 120 days before renewal to ensure you have the best rate available. We can switch your mortgage to another lender for no fee. We'll shop your mortgage to a selection of banks, trust companies and other financial institutions over 40 in all and make them compete for your business. Don't fall victim to the bank's first offer, let Medley Mortgages save you thousands and pay off your mortgage years sooner. For more information or to speak directly to a mortgage consultant click here.
A second mortgage provides access to the equity in your home without breaking your current first mortgage. If you are a home owner who has accumulated wealth in your home, and you want to unlock these funds, allow Medley Mortgages to help. We can setup a second mortgage to finance small business ventures, undertake renovations or provide for educational needs. We can help you decide how much money to access, how long to amortize the funds and/or which debts would be best to consolidate into the second mortgage. For more information or to speak directly to a mortgage consultant click here.
Cash-back mortgages provide the client with a cash rebate upon closing. These can range from 1%-5%, and can be used for almost anything. The most common cash-back mortgage is also referred to as the 0% down mortgage, where the cash back is used to cover the down payment. The rates on these mortgages are higher to offset the cash back, but in the right situation can be very useful. Let Medley Mortgages help you get into your home with 0% down. For more information or to speak directly to a mortgage consultant click here.
A secured line of credit allows you to access your home's equity securely and affordably. Medley Mortgages can help you unlock the funds tied up in your home at low rates with flexible terms, and show you how to use this as a fundamental financial planning tool. If you want to finance major expenses, consolidate debt, increase your financial flexibility, or improve cash flow, let Medley Mortgages show you how. For more information or to speak directly to a mortgage consultant click here.
Private Mortgages are similar to conventional mortgages, but offer clients with bruised credit, high risk properties or unique situations the opportunity to get a secured loan. Private lenders have different qualifying criteria, and can therefore help people with poor credit or who are self-employed, consolidate debts or secure that second mortgage they require. At Medley Mortgages we have access to a large number of private lenders to help with your financial needs. For more information or to speak directly to a mortgage consultant click here.
If your closing dates do not line up, let Medley Mortgages help you. A bridge loan is a niche product that provides short-term financing to bridge gaps between closings on multiple properties with firm agreements in place. For a small setup fee and a slightly higher interest rate, these loans will allow you to have offsetting closing dates and make a stress-free transition from one home to another. For more information or to speak directly to a mortgage consultant click here.
Regardless of the size of your business, Medley Mortgages is here to help you find the financing you need in order to keep your company on the right track. Securing a commercial mortgage is a process of matching your building type and location to the most relevant lender. Commercial lenders are very specific, so while many might show interest only certain ones will actually finance your property. For more information or to speak directly to a mortgage consultant click here.
If you need a financial service that is not listed, don't hesitate to contact us and see what we can do to help.