Sagewise Capital Corporation / FSRA #13150
Get your Mortgage Financing today before rates go up!
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In today’s market, almost everyone attempts to get a mortgage to fund their property purchase or refinance an existing one. Regardless of your financial status, it makes sense to push funds that would have been allocated to purchase a property in its entirety to invest in other opportunities that would yield higher returns, especially since mortgage rates have been traditionally lower over the last 25 years.
A mortgage is a very long-term loan that forms a part of the funds to purchase a real estate property. The mortgage loan is then secured by the real property at closing and the owner can repay the loan over a structured period of 25-30 years amortization.
A mortgage bridges the gap between the money you have for the down payment and the purchase price of the property.
Example:
Property is selling for $500,000.
You have $100,000 in your bank account.
You now have a shortfall of $400,000.
Now you may not have $400,000 available to invest, so you apply for a mortgage to fund the shortfall, essentially bridging the gap
To get ready for your mortgage pre-approval focus and prepare for the 3 following items:
Your credit score for a mortgage is determined by several factors including your payment history, credit utilization, length of credit history, types of credit used, and recent credit inquiries. Payment history tends to be the most important factor in determining your credit score for a mortgage, followed by credit utilization. A higher credit score generally leads to better interest rates, lower fees, and more favourable loan terms.
When applying for a mortgage, the lender wants to see that you have a steady income to make the monthly payments comfortably.
Is the cash or investment you will need to complete the transaction. It’s the funds you have that will be combined with the mortgage that will add up to the purchase price of the property. Attempt to save as much as possible, as the minimum downpayment in Canada can range from 5% for insured mortgages and 20% for conventional mortgages. In a high-interest rate environment, the down payment required might be a lot more than the percentage indicated above.
The first step is to contact a mortgage professional such as a licensed mortgage agent or mortgage broker to guide you through the process, as getting a mortgage in Canada can sometimes be very frustrating and the requirements are sometimes very complicated.
Find a Mortgage Broker Near You!
In the event you might have done everything you were asked to do, but weren’t able to meet the very strict requirements of traditional mortgage lenders such as banks or credit unions, alternative lenders like Sagewise Capital Corporation offer a flexible and personalized approach with reasonable fees, decent interest rate, faster approvals and guaranteed closings.
Sagewise Capital Corporation is licensed and regulated by the Financial Services Regulatory Authority (FSRA). This means we must adhere to strict guidelines and regulations to ensure consumer protection and fair lending practices. You can trust that we operate within the legal framework, providing you with a secure and reliable mortgage option for your home financing needs.
Select Sagewise Capital Corporation as your preferred alternative lender.
Sagewise Capital Corporation |Administrator License #12709
Sagewise Capital Corporation |Brokerage License #13150
The above credit score section is generated from the following sources:
www.myfico.com/credit-education/whats-in-your-credit-score.
www.investopedia.com/mortgage/creditworthiness/.
www.zillow.com/mortgage-learning/how-credit-scores-impact-mortgage-rates/.
Administrator
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Registered Trustee
Exempt Market Dealer
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FINTRAC - MSB registration number M24566734
Established in 2015, Sagewise Capital is a lender headquartered in Mississauga, Canada. The firm arranges residential and commercial private mortgage solutions for borrowers' products ranging from residential 1st and 2nd mortgages to commercial, construction, and mezzanine loans and joint venture programs. Sagewise Capital caters to the financial services sector.
The Prepaid Visa Is Provide By Sagewise Capital
The Sagewise Mortgage Services provided by Sagewise Capital Corporation - Administrator License #12709 & Brokerage License #13150.
The Sagewise MIC Shares are provided by DX Financial Group. Access Advisors is a private corporation registered under National Instrument 31-103 as an Investment Fund Manager and Restricted Portfolio Manager in Alberta, British Columbia, Saskatchewan, Manitoba, and Ontario. DX Financial Group of Companies, with over a decade of experience in mortgage-backed investment and financial services, has expanded its operations to include an exempt market dealer (EMD) as well as a mortgage investment corporation (MIC).
The Sagewise Set & Save is provided by DX Financial Group. Access Advisors is a private corporation registered under National Instrument 31-103 as an Investment Fund Manager and Restricted Portfolio Manager in Alberta, British Columbia, Saskatchewan, Manitoba, and Ontario. DX Financial Group of Companies, with over a decade of experience in mortgage-backed investment and financial services, has expanded its operations to include an exempt market dealer (EMD) as well as a mortgage investment corporation (MIC).
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