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FIRST TIME HOME BUYER
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MORTGAGE RENEWAL
When you receive your mortgage renewal it can be tempting to simply sign on for another term. However, chances are that your family or financial situation have changed since last obtaining the mortgage so why not take this opportunity for a mortgage check up? Not sure how the new mortgage rules will affect you? Do you need increased cash flow or are you thinking of selling soon? Have you explored all your options? There are many mortgage options available and we guarantee NO COST TO YOU at time of Mortgage Renewal. Call Rock Solid Mortgages now for your free mortgage check-up!
NEW BUILD/CONSTRUCTION MORTGAGE LOANS
When purchasing a new home, there are three main construction financing options. The first is purchasing at completion, where you agree to close the sale once the builder completes the home. In this case, you can lock in an interest rate 4-12 months prior, with mortgage payments starting only after the property is finished. The second option is a custom or turn-key build, where you work with a builder to construct the home. Here, the mortgage is drawn in stages throughout the build, and you only pay interest on the funds released until the final draw, after which regular mortgage payments begin. Lastly, there's the self-build approach, where you take on the role of General Contractor, hiring subcontractors and overseeing the project. This requires a solid understanding of construction or project management to handle the complexities involved.
MORTGAGE PRE-APPROVAL
Not sure if you’ll qualify for a mortgage? Need to know how much mortgage financing you can afford or what your payments will look like? At Rock Solid Mortgages, we will evaluate your financial situation and determine the mortgage type that best suits your individual mortgage needs. In 15 minutes, we can tell you the maximum amount of mortgage you will qualify for.
FIRST TIME HOME BUYER/ HOME PURCHASE
Buying a home is a large financial decision, so it pays to make an informed one. At Rock Solid Mortgages, we will assist you with the entire process from the moment you decide to buy to the moment you move into your new home.
MORTGAGE REFINANCE
Are you coming up to the end of your mortgage term and would like to take the opportunity to pull out some equity? Maybe do some home renovations, start a business or buy other property? Or maybe just consolidate those high interest credit cards and lines of credit. While interest rates have crept up in the past year or so, they are still at near-historic lows which make be advantageous if you need to restructure debt. Sometimes it also makes sense to pay a penalty to your existing mortgage lender to refinance your mortgage at a lower rate for higher long-term savings. Call Rock Solid Mortgages now for your free mortgage check-up!
COMMERCIAL MORTGAGE LOANS
From commercial mortgages to operating lines of credit we have the business financing solutions for you. Whether your goal is to secure a new location to run your business from, develop new products or invest in another business, mortgage broker at Rock Solid Mortgages can explain the mortgage options best suited for you. Equipment leasing is also available as well as access to the Canada Small Business Financing Program.
Self Employed Mortgage
We know a lot about two things; mortgages and being self-employed. The mortgage thing is obvious, but being self-employed? Well, not only do we help a lot of clients who are business-for-self, but all of the mortgage brokers at Rock Solid Mortgages are self-employed as well.
You will face highs and lows in your business, but with the right strategy and smart planning, you’ll be able to ride the wave and come out stronger on the other side. If you’re thinking about moving to self-employment or are already there, we’re here to help, even if it’s to complain about the woes of self-employment.
Frequently Asked Questions
What is the difference between a fixed-rate and an adjustable-rate mortgage?
A fixed-rate mortgage has a constant interest rate throughout the loan term, while an adjustable-rate mortgage (ARM) has an interest rate that may change periodically based on market conditions.
How do I know how much I can borrow?
Your borrowing capacity depends on various factors, including your income, credit score, debt-to-income ratio, and the type of loan you are applying for. Our team can help you assess your financial situation to determine the right amount.
What documents do I need to apply for a mortgage?
Typically, you’ll need to provide proof of income, tax returns, bank statements, identification, and information about your debts and assets. Our experts will guide you on the specific documents required for your application.
How long does the mortgage approval process take?
The mortgage approval process can vary based on several factors, including the type of loan and your financial situation. Generally, it can take anywhere from a few days to several weeks. We strive to make the process as quick and efficient as possible.
Thank you for choosing us. We are dedicated to helping you achieve your homeownership goals with personalized service and expert guidance. For more information or assistance, feel free to reach out to us anytime!