- Purchase New Home
- Renew existing mortgage
- Buy investment property
- Refinance existing property
- Build new home
- Buy building for Business
The purchase of a home is the largest purchase most people make during their lifetime. At Pinnacle Mortgage Group Inc., we want to make each and every purchaser aware of the many mortgage options available to them prior to their purchase and closing date.
Now, more than ever, financial institutions are regularly launching new products and programs, making it easier to get into that new home sooner. Today, interest-only loans, self-employment programs, rental purchase programs, vacation property programs, and a host of other innovative financing alternatives are dotting the home purchase landscape, making home ownership a reality for more people than ever.
Whether you are first-time buyer or an experienced buyer with excellent credit,Pinnacle Mortgage Group Inc. has access to the very best products and rates available across Canada. Give us a call... we think you'll be pleasantly surprised!
If you are looking for a new home, be sure you are per-approved. With a mortgage per-approval, a licensed mortgage professional can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend.
Getting per-approved for a mortgage is something every potential home buyer should do before going shopping for a new home. A per-approval will give you the confidence of knowing that financing is available, and it can put you in a very positive negotiation position against other home buyers who aren't per-approved.
While most Canadians spend a lot of time, and expend a lot of effort, in shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals. By omitting proper consideration at the time of renewal, this practice costs Canadian citizens thousands of extra dollars every year. Nearly 60% of borrowers simply sign and send back their renewal that is first offered to them by their lender without ever shopping around for a more favorable interest rate.
Buying an investment property is becoming popular option for Canadians looking at different ways to invest their money. However, unlike the mortgage you took out on your principal residence, financing an investment property is a little more complex. The number of units in the building and whether or not you'll be occupying one of the units are the two major components that control what your financing will look like.
When you start shopping around for an investment property, the first thing you need to consider is the number of units your building will have. Most buildings with 1-4 units are zoned residential, so the qualification criteria and financing options from lenders are only slightly more difficult than that of a mortgage similar to what you have on your principal residence. However, buildings with 5 or more units are zoned commercial, so a lender would require that you take out a commercial mortgage on it. With a commercial mortgage, the qualification criteria is even tougher to meet and interest rates are often much higher.
If it's a multi-unit property, the second thing to consider is if you, the owner, will be living in one of the units or not. If you will be occupying one of the units, the property would be considered owner-occupied. If all of the units will be rented out, your property would be considered non-owner occupied. The major difference between the two is how much of a down payment you need to make.
It can become a very complex and challenging purchase, but that is what we are here for. We have vast experiences to draw from when helping you decide on the type of property you want to buy. We will help answer your questions and guide you from the initial per-qualification for the purchase to the final closing.
Canadians today face many reasons to refinance their mortgage. For example, you may have been working at improving your credit score and now qualify for a new mortgage with a better discount, or you may want to stabilize your payments by changing from a variable rate mortgage to a fixed-rate. Refinancing is also a good option to pull out equity for consolidating debt, home improvements, investments, college expenses, and more.
Many people are choosing to build their own home to create the custom features and lifestyle preferences they are looking for. While this can be a very exciting time it can present some complicated Financial Challenges.
Whether you own land that you want to build on (financing construction) or you're interested in purchasing a home to be constructed in a development or subdivision (purchase upon completion), you'll have some special considerations when it comes financing of your new home.
This is where we come in. We know construction Financing and will support you from start to finish, guiding you thru the process and explaining all the important facts you need to know.
In today's economy more and more Canadians are turning to operating their own business. As your business grows you may decide that renting your location no longer makes sense - You would like to buy a building and move your business into it.
There are many considerations in choosing the right location. Do you want to house your business solely? Do you want to have a residential component? Will there be multiple businesses in your building?
Before you start looking for your perfect property, come and see us, we can help you determine the best fit property as well as go over some of the more complex issues around financing. We will get you per-qualified and prepare you for the time frames involved in making your dream come true.