Ontario, CA -- (SBWIRE) -- 09/03/2014 -- All of the services offered by Mortgage Broker Store are aimed at assisting homeowners to get lower interest rate mortgages and provide flexible financing for non-conforming mortgages.
Getting a first or second mortgage in Brampton, Ontario has been increasingly difficult over the past few years. Canada Mortgage and Housing Corporation (CMHC) the largest insurer of mortgages in Canada has reduced its mortgage insurance to a maximum LTV of 80 per-cent. The average Brampton house price in 2013 was $439,610 or up 4.1 per cent over the first six months of 2013. House prices in Brampton have increase be 9.2% since July 2013, with the average price of $480,054.12 for July, 2014.
The combination of tighter mortgage rules and higher housing prices has meant that many people in Brampton can no longer qualify for a first or second mortgage. All the major banks have a minimum debt service level that all clients must meet before they can qualify for a mortgage.
This is where Mortgage Broker Store can help homeowners. We have mortgage agents that are based in Brampton, they have years of local experience and understand the local real estate market. These agents can come to the house to complete the application and home inspection, have the mortgage approved within a few days. Our private lenders will not disqualify a person for a first or second mortgage just because their income is a below bank standards.
Ronald Alphonso, (President of Mortgage Broker Store) stated that "we are trying to make it easier for people to get a mortgage even if they do not meet the standard bank requirements. We also explain to our clients how to improve their credit rating so that in the future they can qualify for the lowest rate mortgage. At Mortgage Broker Store we are not restricted by bank guidelines and can therefore use alternative lenders to get the funding that homeowners require."
Have any questions regarding a second mortgage or private lenders, please email ron@mortgagebrokerstore.com or call 416-499-2122.
About Ronald Alphonso
Ronald Alphonso is a mortgage agent, licence number M11001286. Find more information on private lenders in Ontario at our web site http://www.mortgagebrokerstore.com
Contact:
Ronald Alphonso
ron@mortgagebrokerstore.com
416-499-2122
Ontario, Canada