Mortgage loan FAQ : Answers to your private mortgage questions

Yes, because our loans are primarily based on the available equity in your property. We do not consider your credit history.

You can apply for a loan in just a few minutes and receive your funds in less than a week.

The interest rate is fixed, which means it won’t change even if the Central Bank of Canada raises its key interest rate. Our rates start at 12.00% per annum, which is significantly lower than those offered by other alternative institutions.

We offer loans of up to 36 months. The duration of the loan does not affect your monthly payments, which consist solely of interest. We offer the possibility of renewing the loan at maturity if the borrower is unable to repay.

Application fees amount to 3% of the loan amount, with a minimum applicable according to the amount borrowed. Notary fees correspond to the standard costs involved in registering a mortgage. All fees will be deducted from the loan amount when the financing is disbursed, so no funds need to be paid up front by the borrower.

To obtain financing, the documents required include your identification, proof of homeowner’s insurance, mortgage statements from existing creditors, a specimen cheque for pre-authorized debits, and the certificate of location for your property.

Payments can be adjusted to suit your financial situation. For example, you can prepay a portion of your monthly payments to reduce your monthly payments later.

Your payments will consist solely of interest. We take this approach to lighten our customers’ financial burden by minimizing monthly payments.

We finance up to 75% of the property’s value, which may vary depending on the property’s condition and location.

The appraisal is carried out in-house by our experts. The cost is $225.00 and is payable only if you decide to proceed with our financing.

Once the loan has been notarized, the notary will settle the notary’s fees, initial fees, debts with existing creditors (if applicable), municipal and school tax arrears (if applicable), and pay you the residual amount.

We offer financing for all property types, including single-family homes, condominiums, multi-units, commercial properties and land.