Homeowners in Ontario now have access to a new type of quick loans. This is not a mortgage but it’s still secured by property.
Here are the details of our Quick Loans:
- Size: $3,000 to $30,000
- Funds deposited to your bank account in 48 hours, or less
- Simple, short application
- Do not need a lawyer (save a minimum $1,000)
- Do not need an appraisal done (saves you $300-$500)
- You pay no up-front fees (no out-of-pocket costs)
- The loan can be amortized over up to 120 months (10 years)
- 1-, 2-, and 3-year terms available
- Fully open: repay at any time
- No pre-payment penalties
- Not reported to credit bureaus
Use the money for anything you need: pay off credit cards, improve monthly cash flow, repair credit, pay for a vacation, home renovations, anything at all.
This product is registered in the 1st, 2nd or 3rd position, but it’s not a mortgage, it’s a lien.
Who can use this: Anyone who needs to lower their monthly payments (car, credit cards, loans) to qualify for a new mortgage under the new B-20 guidelines.
Lavinia D’Silva, Mortgage Broker, cell: 416-878-2864