Header Flash Element

Mortgage Broker Sample Deals

Home › Mortgage Professionals › Sample Deals

Quick Funding

We were contacted on Monday from an associate to give us the heads up that they had an urgent deal that might come our way for funding on Friday. Unfortunately they were unable to get the application to us until Wednesday, still of course needing funding on Friday.

Our underwriting team processed the deal, had commitment documents to them that day and received them back the next morning (Thursday). This is where our in house lawyer came in to play. He was able to turn the file around in time to have the client signing the paperwork in our office the very next day (Friday) and leaving check in hand. Forty eight hours from application to close.

Innovative Funding

A broker contacted us as they were having trouble completing financing for a new condo construction in small town Alberta. Their clients required $1.7 million to complete the construction so they could then refinance the completed property through traditional lenders.

Despite clean credit and a strong financial situation, the nature and location of the project limited the financing available through traditional lenders. Upon deeper investigation, Alta West discovered that the clients had a number of other properties already complete and under management. Clearly there was a deal there if we could be creative. A combination of first mortgages, over two properties and a blanket second mortgage over twenty seven (yes twenty seven) properties allowed the construction to be completed without the usual restraints of construction financing. It’s fair to say both the clients and the associate were happy with the outcome.

Credit re-building

A medical emergency ruined what had been a successful business. The partners (Husband and Wife) were left with $120,000 of debt and poor credit.

As there was sufficient equity in their property Alta West Mortgage was able to lend them enough to clear these debts as well as provide a twelve month interest reserve. In that time they were able to fully recover from the medical issues re-build the business and re-build their credit. The next step of course was to refinance with a mainstream lender.



Recent Posts

Secondary credit card user a nobody I read an article recently about a woman who was married for 22 years, she and her husband had joint credit cards and were responsible payers. The marriage dissolved and the woman...
Alberta MLS sales to top country... Alberta’s economy continues to outpace the rest of country; Alberta will lead the country in 2012 in annual growth for home sales, according to the Canadian Real Estate Asso
TSX flat on lower commodity prices... There is a much happening in Canada and the world today! Osama bin Laden is dead, there is an election happening and your taxes are due! The markets opened up to the news that...
Higher loonie suggests rates won’t... The Bank of Canada is not likely to increase interest rates any time soon. The loonie increased yesterday to 1.0523 against the greenback.
Alberta retail sector bounces back There is positive news from Statistics Canada latest release, retail sales in Alberta are up! In February consumers were out spending their disposable incomes on retail goods....
Good time to buy With the Bank of Canada holding interest rates steady, it’s a good time to buy a home. There is no indication from the Bank that rates will rise before July. So, people...
No rate hikes imminent, BoC signals On Tuesday April 12, 2011, The Bank of Canada made it clear that interest rates will remain unchanged, at 1%. There is no indication from the bank when the key rate will increase...
Calgary retail sales forecast to... Retail sales are expected to boom in the coming years.  Calgary has a very healthy economy, spurred largely by the oil and gas sector. Calgarian’s consumer confidence...
Discounts Expected in Spring... The U.S. housing market is continuing to experience declines, both in resale homes and in new homes. Data on the U.S.housing industry is expected on Wednesday Mar 23 and it doesn...