Mortgage Brokers in Barrie
From downtown condominiums to small town farms, uptown city estates and lakefront homes, property owners have been obtaining loans and mortgages from major Canadian banks for as long as one can remember.
Our BSM mortgage brokers can advise on all (non-) private and second mortgage needs. At BSM, we service the Barrie and surrounding areas for all your private lending, second mortgage and private mortgage needs.
Mortgage Broker compared to private lending services
A second mortgage is a mortgage that is taken out while your first mortgage is still ongoing. Once you’ve obtained your 2nd mortgage both your first and second mortgages will run simultaneously. Our mortgage brokers in Barrie would be happy to guide you through all the concerns you may have when dealing with your mortgage and private loans.
As the political and economic landscape continues to reconstruct, citizens of Canada find themselves turning to other avenues for financial consultation. Moreover, when it comes to applying for a second mortgage, a majority of Canadians are being turned down due to extreme restrictions and guidelines that have recently been put in place. Here at BSM our agents specialize in private lending and educating our clients when it comes to loans, private mortgages and more.
When researching a Barrie mortgage broker or private lender, look no further than BSM. At BSM Mortgage Broker our experts will determine and use the equity of your property to assess how much value you’ve retained since the purchase of your home. Equity is the difference between your current mortgage amount and your properties value.
Now that you know what a 2nd mortgage is and how we work with home equity, here are some unique benefits to obtaining a second mortgage.
- Funding education
- Paying off previously owed loans
- Vehicle payments
We know buying and owning a home was a big step in your life and that is why home ownership is a big deal to us. Using your property and its equity we can get you started right away on paying off your debts, building that home extension, or making those long-awaited travel plans. Let us help you when no one else will.
We have also assisted our clientele with everything from land investments to home and business renovations. Maybe tax season is around the corner, or you need to pay off your child’s college or university loans, whatever the case may be give us a call. With BSM you are closer to approval than you think.
Private mortgage lenders and mortgage brokers
A private mortgage is a mortgage that is only accessible through a second party other than the banks. If you are leaning towards a private mortgage, a mortgage broker in Barrie can help you provide information and often a solution for your situation. As a private mortgage lender and mortgage broker, BSM can offer you lines of credit and private mortgages in Barrie. Contrarily to the banks we do not need credit checks or scores in order to get you approved.
In previous years, Canadians would find success going to the banks for their mortgages and loans. As times have changed, policies have become much stricter in regards to lending, and now it has become extremely difficult to obtain a second mortgage or loan from the big Canadian banks. This is why nowadays, citizens of Canada are turning to private mortgage lenders and private mortgage brokers for their financial debt and loan needs.
If you are a homeowner, mortgage brokers in Barrie can assist you with all your mortgage information and needs. As a private lender in Barrie, we at BSM can help you out with your second mortgage. Our Barrie mortgage brokers are well educated when it comes to private mortgages, second mortgages, lines of credit and more and can get you the best solution. At BSM, let one of our experts show you how anything is possible when it comes to private lending.
Our process is just 5 simple steps:
- Consent Form & Application
- Appraisal process
- Document approval
- Signature proceedings
Here at BSM we take great pride in our personalized service and look forward to working with you. Residents of Barrie and surrounding areas often have questions and requests regarding their mortgage, where mortgage brokers in Barrie like BSM can help. Furthermore, for private lending in Barrie we have all knowledge and resources to get you the mortgage you need.
You might be wondering which private lender is right for you. As a private lender and mortgage broker, BSM is ready to help you with all your mortgage needs.
Mortgage brokers and private lenders compared to banks
Financial Lenders and most major banks have long used the classic TDS/GDS processes to establish a baseline when assessing approval options for a potential client. TDS, otherwise known as Total Debt Service, is your income percentage necessary to pay off all your loans. GDS, otherwise known as Gross Debt Service, is your income percentage necessary to pay off your monthly debt. This includes your P.I.T.H. (Principle, interest, taxes, heat).
This process can get tedious and exhausting, and more so, the cause for why the banks may tell you they cannot help you, BSM can.
People living in Barrie always have concerns and questions about their mortgage that brokers can assist with. Here at BSM Mortgage Broker we take great pride in offering assistance and consultation to Barrie and Simcoe County. When working with BSM, our specialists use only your property and its equity to obtain a qualified financial solution for you and your loved ones.
We have helped our clients with everything from having credit re-established to making renovations on your land or property. This is a smart option for Canadian homeowners looking to push up the value of their currently owned property. Perhaps it was bad credit records or a checkered financial history that stopped you initially. Unlike the banks, BSM will only work with your property and the equity it has accrued over time.
Many residents of Ontario are looking to obtain the services of a Barrie mortgage broker or private lenders in Barrie. When it comes to private lending, mortgage brokering and your private mortgage needs, find out why so many Canadians across the country are working with BSM and have been provided the funds to pay off their debts or do renovations.