Amansad-Direct-Lending-Group

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Amansad Financial FAQ

Amansad Financial Services provides residents of Canada with Alternative Mortgage & Refinancing Options. As a Mortgage Broker Professional with DLC Brokers For Life, we focus on Private, Equity, and Alternative Mortgage Solutions.

As an Alberta Based Mortgage Broker with DLC Brokers for Life Inc.; Amansad Financial provides traditional bank financing, non-traditional, and private equity creative solutions to customers. Amansad Financial focuses on Alt-A, Private Equity Lending & Alternative Mortgage Solutions. If a borrower doesn’t fit a bank mold but have the necessary down payment or equity; obstacles can be overlooked with our private mortgage lending partners. With adequate equity or down payment, security, or a combination of both… a solution will likely be found. Borrower credit is the least of our worries.

Amansad Financial has the tools and contacts to find you the necessary funding to overcome the challenges you may be facing. Contact Us to see what we can do for you.

Amansad Financial Company Details

Answer: Amansad Financial Services was incorporated in Alberta on September 2 nd , 2010.

Answer: Our company has 2 directors that share 50/50 Ownership. We have a Call Centre Team that we contract out to assist with fielding all calls. We also have a forward-thinking IT & Marketing Team to assist with Web Support and Marketing Campaigns. Our company is a big believer in outsourcing to other Canadian Based
& Owned Businesses.

Answer: Our company has a unique set up. We Brokers Mortgage Applications and Underwrite for our Direct Lender Group Network (DLGN) of high net worth individuals across Canada. We are also entrusted to prepare and issue approval documents to applicants. In essence, We act as the private lender, but our Investor Partners fund the mortgages. We are primary contact for our investor lenders during the mortgage term…i.e. following up on NSF, Late Payments, Renewal Reminders, Non-Renewal Notices, etc. In some cases where funding is outside of our Network, we are 100% Broker.

Answer: Yes, but we focus primarily on private mortgages. Generally, because we are busy assisting on private mortgage customers in 5 provinces, we do refer most of our traditional files to other experienced broker partners that can get the job done and find you the best terms.

Answer: The company is licensed in BC, Alberta, Saskatchewan, Manitoba, and Ontario. We do have mortgage referral contacts in other provinces that can assist in special circumstances. We also aid with unsecured business capital for existing businesses in the United States and all provinces in Canada. These services are provided under the trade name Best Bridge Capital (https://bestbridgecapital.com/). Furthermore, we provide contract financial services to RV dealerships in need of business office support.

Answer: The main office address for the business is 2 nd Floor, 5303 91 st Edmonton AB T6E 6E2. With the power of technology, we can work from any location that has internet access.

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.

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.

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
Amansad Financial has a large DLGN (Direct Lender Group Network) that will fund mortgages throughout select provinces in Canada and will generally provide a response within 24 to 48 hours. Our process is generally 50% faster than most other competitors. From the initial assessment to closing with the lawyer, our transactions move extremely quickly.

2. Private Lending Expertise
Amansad Financial specializes in providing great insight and solutions for customers that do not qualify for traditional bank mortgages. A high majority of the customers we assist have either bad credit and/or simply require a fast mortgage.

3. Extended Lender Relationships
In addition to the DLGN, Amansad Financial also has established relationships with numerous MIC (Mortgage Investment Corporations) across the county that are able and willing to fund large amounts with fair terms.

4. No Upfront Costs To You
Amansad Financial does not charge an upfront fee 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
Amansad Financial requires that all our customers get ILA (Independent Legal Advice) on all mortgages.

6. Transitionary Credit Improvement Services
In Cases where private lending is required primarily due to bad credit, we have strong relationships with 3 rd Party Credit Improvement Companies that will 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.

Repayment History

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.

Employment Changes

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.

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Daniel K. Akowuah | Mortgage Professional / DLG Underwriter
Toll Free: 1(877)756-1119 | PH:1(780)756-1119 | FX:1(877)238-7794
 DLC Brokers for Life Inc. (Brokerage) - 2nd Floor, 5303 91st Edmonton, AB T6E 6E2

FSCO Brokerage License #12142 | FSCO License #M15000918 | SFSC Brokerage License #316141 | SFSC License #316774