Residential Mortgage Vs Commercial Mortgage
Residential Mortgage: A residential mortgage is a loan obtained by an individual or family to purchase or refinance a home for personal use. Here are some key features of residential mortgages: Commercial Mortgage: A commercial mortgage is a loan obtained for commercial or income-generating properties. Here are some key features of commercial mortgages: It’s important […]
Who’s the Best Source of Private Mortgages???
The best source of private mortgages can vary depending on your specific needs, location, and circumstances. Here are some common sources where you can find private mortgage lenders: It’s important to conduct thorough due diligence when considering private mortgage lenders. Consider factors such as their reputation, experience, track record, interest rates, fees, loan terms, and […]
Can you get a mortgage if you’re self-employed? It’s not easy, but it’s not impossible
Banks love T4 or W2 slips, especially a long history of them issued by the same employer. That’s because they scream “Certainty of employment! Regular income! Low risk of job loss! Ability to service a mortgage!” The core issue financial institutions have with self-employed people, however, is that their income is harder to prove. And entrepreneurs are […]
Why there is Very High demand in Private Mortgages in Toronto?
There are several reasons for the high demand for private mortgages in Toronto: It’s important to note that while private mortgages offer advantages, they typically come with higher interest rates and fees compared to traditional bank mortgages. Borrowers should carefully evaluate the terms and costs associated with private mortgages and consider consulting with a real […]
What’s the difference between Banks and Private Lenders?
Bank vs. Private Lender: Bank: A bank is a financial institution that provides various banking services, including lending. Here are some key characteristics of borrowing from a bank: Private Lender: A private lender is a non-institutional individual or entity that provides lending services. Here are some key characteristics of borrowing from a private lender: It’s […]
Why Mortgage Brokers are the Best Source of Private Mortgages?
Mortgage brokers can be a valuable source of private mortgages for several reasons: While mortgage brokers can be a valuable source of private mortgages, it’s still essential for borrowers to conduct their due diligence and carefully review the terms and conditions of any private mortgage offer. Consulting with a reputable mortgage broker or seeking advice […]
What Happens when your Bank Declines your mortgage?
When a bank declines your mortgage application, several things can happen: Remember that a mortgage decline from one bank does not mean you cannot secure a mortgage elsewhere. It’s crucial to remain proactive, address any concerns, and explore alternative options to increase your chances of obtaining the financing you need. Follow us ACOM Capital Submit the […]
Why and When do you need Private Mortgage???
There are several situations where individuals may need a private mortgage: It’s important to note that private mortgages typically come with higher interest rates and fees compared to traditional bank mortgages. Borrowers should carefully evaluate the terms, costs, and risks associated with private mortgages and consider consulting with a real estate professional or financial advisor […]
City Launches Tax Break to Help Landlords Upgrade Aging Manhattan Offices
Owners of aging Manhattan office stock could get a break with the city offering tax abatements in exchange for updating their properties, a move the city hopes will help office landlords attract tenants and curb record-high vacancy rates. The program — run by the New York City Economic Development Corporation(NYCEDC) and the New York City Industrial […]
