1. How long has the company been in business?
Answer: Amansad Financial Services was incorporated in Alberta on September 2nd, 2010.
2: How many employees does the company have?
Answer: Our company has 2 directors that share 50/50 Ownership. All other IT, Marketing, and Support Services are outsourced to Canadian Based Businesses.
3: Is the company a direct private lender or a mortgage broker?
Answer: Our company has a unique set up. We’re a Brokerage that Underwrites for our the Amansad Direct Lending Group of Individual Private Lenders. The Brokerage also sources funds from Mortgage Investment Corporations when a file is not a fit for our Private Lender Group.
4: Does the company assist with traditional/conventional mortgages?
Answer: Our business is Private Lending. If you are looking for a traditional or semi-traditional mortgage we will provide an initial review and refer to experienced brokerage partners that can get the job done and find you the best terms. Alternatively, you can apply with your bank before approaching our company if private lending is required.
5: Where does the company provide service?
Answer: Amansad Direct Lending Group is currently licensed in BC and Alberta.
The Principal Broker (Daniel K. Akowuah) holds and Agent/Associate License in Saskatchewan, Manitoba, and Ontario with Brokers For Life Inc (Brokerage) and is able to facilitate transactions in the 3 provinces.
6: Where is the main office located?
Answer: Our Registered Address is 2500-10123 99st NW Edmonton , Alberta.
7: How do we set up an appointment?
Answer: No need for appointments. Our services are done over the phone, email, and electronic signing. The only people that you will need to meet during the process will be the appraiser and the lawyer to sign final paperwork. It may seem a bit impersonal, but our customers are well engaged and informed during the whole process. Rest assured, you will be well taken care of.
8: What are the business hours?
Answer: There is not set hours of operation. Calls can be fielded by our Call Centre anytime during the week Monday thru Saturday. We generally operate from 10am – 6pm MST Monday – Saturday; but some behind- the-scene work is completed outside of those hours to ensure the best Customer Service.
9: What sets Amansad Direct Lending Group apart from other companies?
Answer: Turnaround time, Company Underwriting, and transfer of trust from our DLGN
8 TOP REASONS TO USE AMANSAD FINANCIAL PRIVATE LENDING SERVICES
1. Fast & Efficient
Access to a large DLGN (Direct Lender Group Network) that will fund mortgages throughout select provinces in Canada. Responses within 1-2 business days. From the initial assessment to closing with the lawyer, our transactions move extremely quickly.
2. Private Lending Expertise
Assist with only Private Mortgages. A majority of the customers we assist simply cannot qualify with a bank and require an alternative solution.
3. Extended Lender Relationships
In addition to the DLGN, Amansad Financial has established relationships with numerous MIC (Mortgage Investment Corporations) across the county.
4. No Upfront Costs To You
No upfront fees to complete an initial review and assessment. We do not collect any monies direct from our customers. All applicable fees are deducted from the proceeds of the mortgage and completed by the lawyer.
Note: A Commercial Mortgage Application may be subject to a Letter of Engagement and a Retainer Fee after an initial review of the file.
5. Independent Legal Advice
ILA (Independent Legal Advice) is required on all mortgages to ensure customers understand all the terms before finalizing the mortgage.
6. Transitionary Credit Improvement Services
In Cases where private lending is required primarily due to bad credit, we have relationships with 3rd Party Credit Improvement Companies. They can provide you the tools to improve your credit so that you can get back to traditional financing quicker. Private mortgages are not meant to be long term. A Private Mortgage is a means to get you from point A to point B.
7. Transitionary Mortgage Professionals
Amansad Financial Services has partnerships with excellent professionals within the brokerage firm; Brokers for Life Inc. They will be available to assist you to transition you from a private mortgage to a traditional or semi-traditional mortgage before your mortgage renewal.
8. Ongoing Communication
Even after your private mortgage is in place, Amansad Financial will stay connected with you and always be available to address any questions.
If you’re going to take out a private mortgage, you’re starting a relationship with a lender that will work a little differently than what you can expect from a bank or other traditional lender. Let’s take a look at some of the key differences, so you’ll know what you have in store.
Most people take out a private mortgage to get started on home ownership while they’re still repairing their credit. Private mortgages generally have short terms (often one to two years) and sometimes just allow interest-only payments. Private lenders do not have to renew mortgages when the term expires, so you want to keep your options open by making your repayments on time. Your credit score will improve (increasing your chances of a transition to a bank or other traditional lender at renewal). If you realize that you need to adjust your withdrawal date for a particular payment, give your lender at least a week’s notice.
If you change employers during the term of a private mortgage, there are no requirements mandating that you update that information. However if you do provide that update, you strengthen your relationship with the private lender, showing that you are serious about bettering your financial situation. Even if you haven’t notified your private lender of the change, that will be a requirement for extending or renewing the loan in many cases.
Improving Your Credit
If you took out a private mortgage while you intended to improve your credit, there are improvement counselors who can help you get that score up. The purpose of this is to help you qualify for a bank loan when the private mortgage term expires – which will save you tens of thousands of dollars over the amortization of the entire mortgage.
Obtaining New Credit
Try to avoid opening new lines of credit, and keep your credit inquiries to a minimum during the term of your private loan. These activities can affect your score adversely, which definitely will not help you when it’s time to shift from a private lender to a bank or traditional lender.
The Value of Communication
Remember – a private lender is entrusting you with a great deal of capital. The clearer your communication is, the stronger your relationship will be. Private lenders are much more willing to work with borrowers who are honest and upfront.
NEED MORTGAGE FINANCE, REFINANCING,
OR A SECURED ASSET LOAN?
✔ Same Day Response
✔ Fast, Efficient, & Friendly Service
✔ Private Mortgages are based primarily on Equity and the Property
✔ Bad Credit Mortgages are based primarily on Equity and the Property
✔ Traditional & Semi-Traditional Options also available
✔ Equity Based Secured Asset Loans
(The world moves FAST, RESPECTING your time is important.)
Amansad Direct Lending Group