Mortgage Products and Services
Mortgages….they come in all shapes and sizes. The variety of options available to today’s homebuyer is as varied as each buyer’s unique situation. At one time, the Canadian mortgage market had few participating lenders to choose from and your only chance to qualify for financing were with a Down Payment of 25%....well, times have changed and at FinBank, we strive to keep up to date on the latest products and services offered through our over 50 Lending Partners. We can therefore match a mortgage product that is Best Suited for your needs.
Please take a moment to review the following mortgage products and how they may compliment and match your lifestyle.
Up to 95% financing.
The HOMEOWNER 95 mortgage is a product that allows first time and repeat buyers to purchase with as little as 5% down, thus allowing you entry to home ownership, with the least amount of investment, and still qualify for the best rates and terms available.
This product is perfect for first-time homebuyers, but it also makes sense for homeowners who want to refinance or take some equity back out of their home for debt consolidation, investments or personal needs, at today's best mortgage rates and terms. Whether you are purchasing or refinancing and want to fully leverage your property to 95% of it’s market value, then the HOMEOWNER 95 is the product for you.
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No Down Payment required….period!
The HOMEOWNER 100 can open the door to the home you want, right away. It’s a unique lending product that provides you with the money you need to buy the home you want…and then some. You want to buy a home. You have a good credit rating and a solid income, so what's standing in your way? You're probably saving for a down payment. And that can take time. Meanwhile, you're paying rent and worried that you won't be able to find an affordable home by the time you've saved enough. The hurdle of that down payment can be particularly frustrating. While your future prospects are excellent, your savings are non-existent. That's where 100% financing can help to really get you ahead. Allow FinBank to open the door of home ownership for you with the HOMEOWNER 100.
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Assist family members in home ownership.
We are pleased to support this new program in Canada. It enables people to help buy a home for immediate family members who have good credit but lack the income to meet standard debt servicing requirements.
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Its about owning a 2nd home or Vacation Property.
At FinBank we know all about today's busy lifestyles. We also know that purchasing a Vacation or Secondary home is on many people’s minds these days. You can now realize this deam and turn it to your reality - whether it's a second home in the city to reduce that weekly commute, or a cottage at the lake for weekend getaways. Introduced to Canadians in 2003, you can now buy that property sooner - with as little as no money down.
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For your next Rental or Investment Property.
Throughout history, real estate investing has been the most reliable and proven wealth building investment time and again. FinBank wants to help you open doors to your next investment property with the most suitable mortgage products in the industry, all the while helping you to achieve your wealth building goal. Choose HOMEOWNER WEALTH for your future…for your dreams.
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Receive cash back on closing your new home.
Some home buyers have an excellent credit history but have not yet saved the required down payment. Others have used their savings to build assets in different ways. We are delighted to offer mortgages to both these groups.
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Renovate or Improve on your newly purchased home.
We can help qualified home buyers with needed renovations and improvements to a property immediately after taking possession, to make their new home just right for them. All this can be done with one manageable mortgage and as little as no money down.
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Refinance for Debt Consolidation or Investment.
Recently introduced to Canadians, this program enables borrowers to take equity out of their homes for a variety of purposes, including home improvements, debt consolidation, combining a first and second mortgage, or renovations.
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Homeownership for New Immigrants.
Now new arrivals who have within the last 24 months immigrated or relocated to Canada can qualify for a mortgage with as little as 5% down. Share in the great Canadian dream of homeownership with the HOMEOWNER NEW TO CANADA.
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Financing for entrepreneurs based on Stated Income.
Self-Employed borrowers and Commissioned Sales people that cannot provide traditional income verification can now qualify for a high ratio mortgage for purchase or refinance purposes. FinBank wil use your “Stated Income” to get you the mortgage you need, based on the income you “Declare” rather than income you report.
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Refinance and Rehabilitate your Credit with a new 1st or 2nd Mortgage
We can now provide mortgage financing on innovative programs, for homewowners with imperfect credit, who can now qualify for a high ratio insured mortgage for purchase or refinance purposes.
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Build that “Dream Home” with financing in place prior to construction.
This program lets residential home builders and individual home buyers take advantage of Progress Payments while the property is being built.
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