Canadian Mortgage Services - Brampton
Canadian Mortgage Services specializes in fast approval mortgages and other loan products. Located in Brampton, Ontario, Canadian Mortgage Services specializes in: Residential, Industrial & Commercial Mortgages, First and Second Mortgages, Mortgage Renewals, and Bad Credit Mortgages. They also deal with New Immigrants and Self Employed mortgages, Purchases & Refinances, Equity Take Outs (HELOC), Debt Consolidation, and more. CMS focuses on getting clients the best possible mortgage solution.
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Business Operation Hours
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Monday
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9:00 AM to 5:00 PM
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Tuesday
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9:00 AM to
9:00 PM
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Wednesday
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9:00 AM to 9:00 PM
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Thursday
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9:00 AM to 9:00 PM
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Friday
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9:00 AM to 9:00 PM
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Saturday
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9:00 AM to 5:00 PM
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Sunday
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9:00 AM to 5:00 PM
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Additional Information
Bridge financing, also known as a bridge loan, is a short-term loan intended to provide a temporary borrowing solution to supplement some or the entire sum of the down payment for the purchase of a home. From the perspective of the borrower, bridge financing is essentially a way to transfer “available” equity from one home to another. In the real estate world, bridge financing would be needed in a situation where the closing date for the purchase of your new home occurs before the date of closing for the sale of your existing home. The assumption is that the down payment for the purchase would have come from the sale of the existing property. However, if your purchase is expected to close prior to the closing of your sale, then you would need a temporary loan to “bridge” the shortfall to close the purchase.
From the lenders standpoint, they would advance the short-term loan at a premium (compared to a traditional mortgage) until the existing home is officially sold. Since the lenders are expecting the bridge loan to be repaid in a short period of time, the loan itself would be open for repayment (in most cases). The interest rates on bridge loans usually start at prime plus two percent and can be higher depending on the lender and borrower’s application. Once the loan of the existing home is complete, the lender would be repaid with interest and applicable fees from the proceeds of the sale.
Product and Services
Debt consolidation services in Brampton and Mississauga have become a very common need. It seems that homeowners may be in more debt now, than ever. However it’s not that people aren’t spending their money wisely; but rather because the cost of living has significantly increased. With the increased need of high interest credit sources (credit cards, loans, lines of credit) to keep afloat, it isn’t a wonder that the need for debt consolidation services Brampton and debt consolidation services Mississauga (and many other areas) has gone up as well.
The source of your debt consolidation can come in many forms (refinance, second mortgage, HELOC) but essentially what they all do is, give you more money! The idea of using debt consolidation services is to eliminate the multiple sources of high interest credit you currently have. If you find yourself making payments on a regular basis as well as paying principal, then debt consolidation services aren’t in your best interest.
On the other hand, if you’re finding it hard to make minimum payments and have been missing payments entirely, chances are you need to consider eliminating that debt, and soon before it negatively impacts your credit score. After all, credit is one of the main reasons we worry at all isn’t it? Simply put, debt consolidation services can eliminate the pesky creditors, free up cash flow, decrease your monthly payments and ultimately allow a better financial situation for you and your family.There is little risk you face by consolidating your debt, and the end results work much more in your favour.
Languages Spoken
English
Payment Options
Visa,Master Card,Cash,Check
