Ontario mortgage loan
For Borrowers with Good Credit: If you have good credit we have some wonderful mortgage loan programs with excellent interest rates.
No Closing Cost refinance or purchase
Loans over 100% of your homes value
Purchase money
10, 15, 20, 30 year fixed rate loans
Adjustable ARM and variable rate loans
Low or no down payment options
Jumbo loans - Loans up to $2,000,000. We even offer a No Closing Cost option on our Jumbo Mortgage Loans
Bill consolidation 1st or 2nd mortgage loans
No asset or income verification - Borrowers with excellent credit may borrow up to 95% of the homes value without verification of income or assets. The mortgage process is fast and easy and a borrower can be self-employed or salaried. Plus, there are no reserve requirements.
Mobile home programs - Double wide manufactured home on your own land OK.
Low interest rate refinance
Home Equity Credit Line - A very popular type of mortgage loan because of it\'s flexibility. It works like a credit card, is easy to set up, and requires minimal paperwork.
Mortgage Insurance Alternatives- By doing a first and second mortgage at the same time, you can avoid mortgage insurance, increase your tax deductions, or avoid Jumbo pricing and Jumbo payments. There's little to no extra paperwork, and you can borrow up to 100% of your home's value.
Combine 1st & 2nd mortgages for one low payment
New construction loans
Free mortgage pre-approval
If you dont see the type of program you are looking for....call us. Chances are very good that we have it.
Basic Mortgage Loan TypesBelow is a list of the basic types of mortgage loans. There are many variations of these programs and numerous loan options that we offer. Your Mortgage Specialist will be happy to fully explain all of your loan options.
Fixed Rates - Fixed rate mortgages have level, constant payments of principal and interest because the interest cannot change. It is fixed. The most common terms for fixed rate loans are 15 and 30 years, but loans can be amortized over 10, 20, or 25 years. These are the safest, most secure loan programs. The level monthly payment loans make fixed rate loans attractive to those staying in properties over 8 - 10 years.
Adjustable Rate Mortgages (ARMs) - These loans have a fixed period during which time the payments are fixed and level. For example, a 3/1 ARM is fixed for the first three years, then becomes a 1 Yr.adjustable rate from years 4 - 30, adjusting every year to a new rate, subject to annual and lifetime caps on increases and decreases. The adjustment each year after the initial fixed rate period is determined by this formula ; Rate = Index plus Margin. The most common index is the US 1 Year Treasury Constant Maturity. The margin is determined by the lender, usually between 2.75% and 3.00%. Rate adjustment caps generally apply to limit increases in rate per adjustment and over the life of the loan.ARMs are for the more sophisticated borrower who knows the length of time in the property is limited or knows that a refinance opportunity will occur during the initial fixed rate period of the ARM..
Piggyback 1st and 2nd Mortgages - A combination loan of a 75% or 80% 1st mortgage and a 15% or 10% 2nd mortgage can help savvy borrowers escape paying Private Mortgage Insurance (PMI) with as little as 5% or 10% down. Normally, a down payment of at least 20% is required to avoid paying PMI. These loans are typically known as 80/10/10's or 75/15/5's. These combination loans can be done on fixed rates and most adjustable rate programs. In some cases, an 80/15/5 can be done allowing the qualified borrower to put down only 5%, while still avoiding PMI.
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