Although our main focus is mortgage financing, we’d like to provide information about a quick loan program that is available to homeowners in Ontario.
If there are one million reasons why someone wishes to borrow funds, there are two million reasons why and how quickly they require the financing.
John may be in a serious time-crunch and require a turnaround time as quickly as 48-hours, in addition, the loan might be cost friendlier than a mortgage by the time the appraisal and legal fee is accounted for.
Alternatively, Jane may have time by her side, require more than $40,000, may have a debt servicing ratio outside of the limit for the loan, or mortgage money is cost friendlier than the loan option.
- Loan Amounts: $4,000 to $40,000.
- Fixed-Rate: 8.99%.
- Term: up to 2 Years.
- Amortization: up to 10 Years.
- Quick 48-hour funding from the time of approval.
- Self-employed clients accepted.
- Partial or full prepayment at any time.
- Very competitive rate.
- No independent legal advice (Approximately $500 + HST).
- No appraisal required (Approximately $395 + HST).
- Available for your primary residence or investment property.
- Must be an Ontario homeowner.
- A minimum credit score of 595.
- Acceptable income, loan-to-value, and debt service ratios.
Twice-Monthly Payment Examples:
- $4,000 = $37.02
- $10,000 = $78.42
- $15,000 = $112.93
- $20,000 = $147.43
- $25,000 = $181.94
- $30,000 = $216.44
- $35,000 = $250.94
- $40,000 = $285.45
As there is never a ‘one-size fits all approach’, we’ll analyze and present to you the differences between the quick loan option and an actual mortgage (turnaround time, cost, term, payments, features, fine print, etc).
-DV Capital Corporation #13186
*The above twice-monthly payments are based on a 24-month term & a 120-month amortization. Prior to processing a formal application, we will immediately provide you with a disclosure and amortization summary
APR % =
$4K = 22.78
$10K = 17.54
$15K = 16.24
$20K = 15.57
$25K = 15.16
$30K = 14.89
$35K = 14.69
$40K = 14.54