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Frequently Asked Mortgage Questions

Private Lender Reverse Mortgage

Are you Eligible for a Reverse Mortgage through a Private Lender? What is a reverse mortgage? Basically, this involves a lender making a lump sum payment to you and having no mortgage payments for the term until the mortgage is paid. This is a great way for you to access ...
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amansad financial

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, ...
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buy real estate e1545929509225

Home Mortgage Qualification FAQ

Why use a Mortgage Broker? Receive professional negotiating expertise. Convenience and access to numerous new mortgage products. Unbiased knowledgeable advice. Access to unadvertised rates. I work for YOU, not the bank. What is the Home-buyers plan? Is a Federal Government Program that allows home-buyers to use $25,000 for each purchaser ...
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Co-Signer Guarantor FAQ

If you are looking to take out a mortgage for a home but don’t qualify with a traditional lender, then going in with a co-signer can make the difference between an approval today as opposed to waiting a year or two paying rent and wasting your hard earned money. You ...
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Mortgage Renewal FAQ

10 FREQUENTLY ASKED QUESTIONS ABOUT MORTGAGE RENEWALS What Happens If I Don't Renew My Mortgage? If you do not renew or have plans to renew, you must look to either switch to a new lender or sell the property. Depending on the lender and the relationship with the lender during ...
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Land Loans


1. How Much Down Payment Is Required To Buy Land In Canada? Answer: The required down payment for land varies based on credit, and the lender type. If you are buying residential land with the intention to build and once have good credit, some credit unions will approve with 25% ...
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IPR Agreements FAQ

Understanding IPR Agreements: FAQ

When it comes to setting up IPR agreements, there are several common questions that we get from our clients. We’ve put together this page to help clients find basic information as they start exploring the process. If you have other questions, reach out to our mortgage specialists so that we ...
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1. LYING ABOUT OR OMITTING INFORMATION ON THE APPLICATION Despite better judgment, this is an area that some borrowers will venture to in order to attempt to get better terms or approval for a loan. We have seen the lying from embellished stated tenures at work, to work position, to ...
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Reverse Loan Mortgage1

Reverse Mortgage FAQ, Myths, Pros Cons

What is the minimum credit score to qualify for a reverse mortgage? Answer: Banks don’t give your credit score as much scrutiny when they evaluate your application for a reverse mortgage, because you don’t make payments on it. As a result, your record of making payments on time is not ...
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FAQ Ebooks

FREE Guides Available for Download ...
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stop foreclosure e1545929434325

Understanding The Foreclosure Process in Canada

For the homeowner, foreclosure is one of the most stressful experiences that you can go through. The largest investment you are ever likely to make is in your home, and the mortgage payment likely represents the largest chunk of your monthly budget. If you have been laid off or missed ...
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Private Mortgage Lending Questions

Private Mortgage Lending Most Common Questions

If you are trying to take out a mortgage to buy that new house, but you’re having a hard time getting financing from a traditional lender, a private lender can step in and get you into that home with a short-term note that gives you the time to get your ...
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consumer proposal

FAQ: Things to Know about Consumer Proposals

If you find yourself overwhelmed by the debts that you have accumulated, one way to avoid having to file bankruptcy is to put together a consumer proposal – a payment plan for your creditors. When you put that proposal together, that is the starting point for negotiations with your creditors ...
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Rent to Own FAQ

Rent-to-Own, Lease-to-Own FAQ

Great Questions to Ask Yourself before Entering Any Rent-to-Own, Lease-to-Own, or like agreement. Q. Is the initial contact made by a consultant, such as by an unsolicited phone call, letter, or e-mail? We always suggest that if you receive a call like this, you confirm how the company received your ...
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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

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