Vision Mortgage

The opportunity to purchase or refinance a property has been extended recently to many people and families who up until recently may have been forced to rent their home even though there is a strong ability to pay the costs of a mortgage.

These include situations where a home buyer has had an impaired credit rating, higher than normal debt levels such as credit cards or lines of credit. It also includes self-employment situations where income is difficult to verify or employment situations where there is unverifiable income such as wait staff or people on commissions or gratuities.

Mortgage term is available from a one year to a five year closed loan upto 75% of the appraised amount. Second mortgages are permitted beyond that amount subject to the ability to make the payments as determined by common lending debt servicing ratios.

This program is also excellent for new Canadians who have not yet acquired landed immigrant status. An application to be a landed immigrant is the only requirement in this regard.

This program is also available to people who have had to undergo bankruptcy. It requires a minimum of 1 year of being discharged from bankruptcy and re-established credit.

These programs are very flexible to handle many different situations. For further information about obtaining a mortgage in the Hamilton, Burlington and Southern Ontario please contact
John Gallagher at john@johngallagher.ca.