Amansad-Direct-Lending-Group

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Amansad-Direct-Lending-Group

 PH:1(780)756-1119 | TF:1(877)756-1119

Recently Funded

1ST MORTGAGE IN BETHANY, ON

  • AMOUNT OF LOAN – $125,000
  • TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
  • EQUITY REMAINING AFTER MORTGAGE(S) – 49% (51% LTV)
  • OBJECTIVE – REFINANCE PROPERTY INTO THE NAME OF THE ESTATE OF DECEASED
  • OBSTACLE –  BENEFICIARY DOES NOT QUALIFY WITH THEIR BANK. PROPERTY IN BELOW AVERAGE CONDITION; HOWEVER LAND VALUE WAS VERY GOOD. DECISION WAS BASED PRIMARILY ON LAND VALUE.
  • EXIT STRATEGY – IMPROVE CREDIT SO THAT BENEFICIARY CAN REFINANCE WITH A NON-PRIVATE LENDER

2ND MORTGAGE IN CALGARY, AB

  • AMOUNT OF LOAN – $220,000
  • TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
  • EQUITY REMAINING AFTER MORTGAGE(S) – 34% (66% LTV)
  • OBJECTIVE – PAYOUT CRA BUSINESS AND PERSONAL TAX DEBT, AND SOME FUNDS TO BE USED TO GET HOME READY FOR SALE
  • OBSTACLE –  FAIR CREDIT, BUT DID NOT QUALIFY WITH THE BANK DUE TO CRA TAX ARREARS.
  • ADDITIONAL PERKS – NO PAYMENTS FOR 6 MONTHS 
  • EXIT STRATEGY – SELL THE PROPERTY

2ND MORTGAGE IN EDMONTON, AB

  • AMOUNT OF LOAN – $118,000
  • TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
  • EQUITY REMAINING AFTER MORTGAGE(S) – 17% (83% LTV)
  • OBJECTIVE – PAYOUT BANKRUPTCY BALANCE AND CONSUMER DEBT ACCUMULATED DURING THE PANDEMIC
  • OBSTACLE –  UNPAID BANKRUPTCY AND SOME COLLECTIONS. 
  • EXIT STRATEGY – SELL THE PROPERTY IN 1-2 YEARS. DOWNSIZING NOW THAT ADULT CHILDREN ARE OUT OF THE HOME.

BLANKET 2ND MORTGAGE IN VANCOUVER, BC

  • AMOUNT OF LOAN – $150,000
  • TYPE OF PROPERTY – RESIDENTIAL APARTMENT CONDO
  • EQUITY REMAINING AFTER MORTGAGE(S) – 25% (75% LTV)
  • OBJECTIVE – EQUITY TAKE FOR INVESTMENT IN OTHER REAL ESTATE
  • OBSTACLE –  COULD NOT QUALIFY WITH THEIR BANK
  • ADDITIONAL SECURITY REQUIRED – YES. PRIMARY RESIDENCE IN ALBERTA, AND A RESIDENTIAL LOT
  • EXIT STRATEGY – REFINANCE WITH A NON-PRIVATE LENDER IN 6 MONTHS UPON ACQUISITION

BLANKET 1ST MORTGAGE IN SCARBOROUGH, ON

  • AMOUNT OF LOAN – $175,000
  • TYPE OF PROPERTY – COMMERCIAL INDUSTRIAL CONDO
  • EQUITY REMAINING AFTER MORTGAGES – 25% (75% LTV)
  • OBJECTIVE – REFINANCE & PAYOUT EXISTING PRIVATE MORTGAGE THAT WAS NOT RENEWING
  • OBSTACLE – BUSINESS OPERATIONS ARE NEW. REQUIRE MORE STABILITY.
  • ADDITIONAL SECURITY – YES. RENTAL DUPLEX IN WINDSOR, ON
  • EXIT STRATEGY – ESTABLISH BUSINESS INCOME TO MEET BANK REQUIREMENTS

2ND MORTGAGE – DENMAN ISLAND, BC

  • AMOUNT OF LOAN – $450,000
  • TYPE OF PROPERTY – SINGLE FAMILY DETACHED LUXURY HOME WITH SEPARATE RENTAL SUITES
  • EQUITY REMAINING AFTER MORTGAGE(S) – 46% 54% LTV)
  • OBJECTIVE – REFINANCE AND PAYOUT PRIVATE 2ND MORTGAGE
  • OBSTACLE – NOT QUALIFYING AT THE BANK
  •  EXIT STRATEGY – WILL SELL IF UNABLE TO REFINANCE WITH BANK
  • ADDITIONAL PERKS – NO PAYMENTS FOR 6 MONTHS

1ST MORTGAGE FORECLOSURE REFINANCE – ST. LAURENT, MB

  • AMOUNT OF LOAN – $200,000
  • TYPE OF PROPERTY – INDUSTRIAL COMMERCIAL
  • EQUITY REMAINING AFTER MORTGAGE(S) – 50% (50% LTV)
  • OBJECTIVE – PAYOUT EXISTING LENDER THAT WAS FORECLOSING
  • OBSTACLE – BRUISED CREDIT AND COLLECTIONS
  •  EXIT STRATEGY – SELLING THE PROPERTY
  • ADDITIONAL PERKS – NO PAYMENTS FOR THE TERM

2ND MORTGAGE – SASKATOON, SK

  • AMOUNT OF LOAN – $46,500
  • TYPE OF PROPERTY – SINGLE FAMILY DETACHED
  • EQUITY REMAINING AFTER MORTGAGE(S) – 24%(76% LTV)
  • OBJECTIVE – PAYOUT EXISTING PRIVATE MORTGAGE THAT WAS FORECLOSING
  • OBSTACLE – UNABLE TO REFINANCE WITH BANK DUE TO CREDIT & FORECLOSURE ACTIONS
  •  EXIT STRATEGY – 1ST & 2ND MORTGAGE WITH NON-PRIVATE LENDER IN 12 MONTHS
  • ADDITIONAL PERKS – NO PAYMENTS FOR THE TERM.

1ST MORTGAGE REFINANCE – FERNIE, BC 

  • AMOUNT OF LOAN – $400,000
  • TYPE OF PROPERTY – SINGLE FAMILY DETACHED
  • EQUITY REMAINING AFTER MORTGAGE(S) – 31% (69% LTV)
  • OBJECTIVE – PAYOUT EXISTING MORTGAGE THAT WAS NOT RENEWING & GET PROPERTY READY FOR LISTING
  • OBSTACLE – NOT EMPLOYED AND POOR CREDIT
  •  EXIT STRATEGY – SELLING THE PROPERTY

1ST/2ND COMBO MORTGAGE PURCHASE – KELOWNA, BC

  • AMOUNT OF LOAN(S) – $1,550,000 & $450,000
  • TYPE OF PROPERTY – LAKEFRONT SINGLE FAMILY HOME
  • EQUITY REMAINING AFTER MORTGAGE(S) – 25% (75% LTV)
  • OBJECTIVE – PURCHASE
  • OBSTACLE – GOOD CREDIT, BUT NOT MEETING BANK INCOME REQUIREMENTS FOR SELF-EMPLOYED 
  • ADDITIONAL SECURITY REQUIRED – YES. 2ND HOME IN SHERWOOD PARK, AB
  • EXIT STRATEGY – REFINANCE WITH BANK ONCE 2 YEAR HISTORY INCOME ESTABLISHED

1ST/2ND COMBO MORTGAGE PURCHASE – SASKATOON, SK

  • AMOUNT OF LOAN(S) – $300,000 & $20,000
  • TYPE OF PROPERTY – SINGLE FAMILY DETACHED
  • EQUITY REMAINING AFTER MORTGAGE(S) – 25% (75% LTV)
  • OBJECTIVE – PURCHASE
  • OBSTACLE – GOOD CREDIT, BUT NOT MEETING BANK INCOME REQUIREMENTS FOR CONTRACT WORKERS 
  • EXIT STRATEGY – REFINANCE WITH SEMI-TRADITIONAL NON-PRIVATE LENDER IN 12 MONTHS

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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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