A first mortgage is the primary lien against your real estate, taking priority to all other liens.
Anyone buying a house with credit needs a first mortgage. If you have been turned down by a bank or don’t meet their financing stress test criteria, DoubleClick Lending can help. A private mortgage through DoubleClick Lending is not subject to the stress test nor the rigid criteria of the big banks.
A Home Equity Loan is another term used for second mortgages. It is a secured loan that allows you to turn your home’s equity into cash.
Home Equity Loans are ideal for those who are expecting large sums of cash from a confirmed source, such as an inheritance, employment bonus, or sale of property with an immediate need of the funds. Home Equity Loans offer lower interest rates than traditional loans, which includes debt consolidation loans, payday loans, and credit cards. This allows you to fill your short-term cash flow gap with a solution that incurs lower interest costs.
Banks have strict procedures and many times do not have the capacity to understand your specific situation. At DoubleClick Lending, we want to support you through the process. We are here to walk you through the whole process from front to end.
Equity is the value of an asset less all liabilities associated with that asset. Leveraging your home's equity is usually the most cost effective and convenient way of obtaining funds. At DoubleClick Lending, borrowers can use the cash from their home’s equity to complete renovations, purchase a rental property, and consolidate debt.
We understand that there are many circumstances where credit scores are affected. DoubleClick Lending does not penalize you for the financial bumps you’ve experienced in the past. We review and assess your application based on today and can secure funds even when the bank says it is impossible. DoubleClick Lending makes the impossible possible.
Without a credit history, families who are new to Canada can find it difficult to get a loan. The banks don’t allow you to use your foreign funds and they require a paper trail. At DoubleClick Lending, we make the process simple, quick and easy.
We are not just interested in your income line, we are interested in getting to understand your specific situation and working within it. Unlike the banks, we do not attempt to fit you into a lending policy and procedure that always includes a stress test.
We have a lineup of institutional and private lenders. DoubleClick Lending provides you with multiple lending offers, where you can choose the interest rate and repayment terms that best match your personal needs. It's simple: our competitive advantage is speed and access to mortgages.
DoubleClick Lending is an innovative company that has evolved historic borrowing and lending models to meet the current demands of the modern consumer. DoubleClick Lending is going to be a marketplace for borrowers and lenders to connect and create reciprocal business dealings.
We strive for you to be informed and feel confident throughout the process by offering online and live support. Unlike the traditional banks, DoubleClick Lending is able to connect you to multiple lenders. Unlike the traditional mortgage broker, you can choose the lender that best suits your needs and circumstances, with no hidden broker fees.
The application is quick, easy and simple.
You will be prompted to answer a few questions that will help connect you with lenders who meet your borrowing needs and timeline. We only ask questions that are relevant to your borrowing needs and your information is presented to lenders who match those needs.
Once you have completed the application, you will receive an email confirmation that your application was submitted. If you need assistance, one of our team members will contact you to support you.
Once your application is approved, DoubleClick Lending will provide you with loan offers as early as 24 hours. Each lender will provide you with their terms and conditions. Once you select the lender with the most suitable terms, you can sit back and feel great about securing your financing needs.
A credit check is not always required. If a lender requires a credit bureau report, it will be listed as a condition prior to you selecting the offer.
DoubleClick Lending does not charge any broker fees. Standard fees may apply.
Prepayment privileges are permitted with some lenders. Prior to providing consent to a lender, borrowers are encouraged to ensure that they review the Commitment Letter in its entirety to understand what the prepayment or lump sum payment privileges are, if any.
In general terms, private mortgages are not renewable; however, some lenders may allow for renewals or extensions. It is important to read and understand the loan conditions carefully.
The movement of funds from one party to another is done solely through a lawyer. More information regarding the monetary transfer will be included in the Commitment Letter from the lender.
Mortgage term options will vary for each lender. Typically, private mortgages must be paid in full on the contract end date.
The amount of the loan will depend on how much the lender is willing to provide.
Yes! There are many private lenders who understand that bad credit should not prevent people from leveraging the equity in their home.
No. Refinancing is the replacement of an existing debt obligation with another debt obligation under different terms.
Anyone who is the owner of a home and has equity in that home can apply for a second mortgage or Home Equity Loan. The borrower must have the ability to meet the monthly payments of both the first and second mortgage.
Equity requirements vary according to the lender.
Closing costs vary and can include legal fees, title insurance, and land transfer tax. DoubleClick Lending does not charge any fees to borrowers.
DoubleClick Lending does not determine the interest rate for the borrowers. Interest rates are determined by the lenders.