Mortgage Broker Services Oshawa, Ontario
Mohit Verma - Oshawa Mortgage Broker & Financing Expert
I undertake a wide range of mortgage and financing solutions for customers in all situations. I specialize in home equity loans and second mortgages. I am also a rescue financing specialist in complicated residential mortgage refinancing.
Mohit Verma, Mortgage Broker is your one-stop solution to all problems related to mortgages in Oshawa, Ontario. I offer you the best rates in the market. I am enthusiastic about assisting people in obtaining their dream home, leading them through receiving the mortgage they require, and educating them on building their net worth.
Benefits of using a Mortgage Broker:
- Pick from a wide range of mortgage loans from several different lenders.
- Have someone working with you to serve your interests rather than the interests of a lending institution.
- Help navigate the client through any situation, manage the process, and overcome any bumps along the way.
- Fill up just one application, as opposed to filling multiple forms for each lender.
I am well-versed in all kinds of property loans and customer service, and relationship building, and try to give the best services as opposed to any other mortgage broker in Oshawa.
Over the years, I have built lasting relationships with several lenders and banks to connect you with the right mortgage solution. My brokerage practices in residential and commercial areas have helped people find their desired properties. Whether you are looking for a first or second mortgage or a home equity line of credit, I'll lead you through the mortgage network and ease your financial problem. Mohit Verma, Mortgage Broker will secure your ideal mortgage and put you on the track to a better financial future.
Owning equity in your home is a valuable asset to your finances. Many people don't realize how much home equity they have built up in their years of homeownership. They would probably be amazed at the kind of funds they can secure through a second mortgage. Each month that you pay down your mortgage, you build capital. So when unexpected repairs happen, or if there is an investment possibility, you can always rely on your home's equity to take that next move.
Taking out a second mortgage as a homeowner can be an excellent way to access your home's equity at extremely competitive interest rates. For most people in Scarborough, their home is their sole real estate investment. Utilizing a second mortgage is a smart move to get into your home equity. This borrowing choice is an opportunity to free up capital using the equity you've built up in your property. You can use the money you secure from a second mortgage towards paying down other debt, which you can pay back at comparatively low-interest rates.
Why choose me?
Homeowners have the right to use the capital from a second mortgage however they see fit. I help to match my clients with the right financial solution to help them reach their goals. Accessing a private second mortgage in Scarborough or anywhere in Ontario is an untapped opportunity that you may not have considered yet. Still, it could be just what you need to make that investment in your house or for your loved ones. Whether you are looking to get debt consolidation or a large-scale renovation on your home, Mohit Verma, Mortgage Broker will help lay out all your options to help you determine where your money is better spent.
Are you thinking of refinancing your home loan to convert your home equity into cash or switch to a fixed-rate or variable-rate mortgage? If yes, then it's best to research your loan alternatives, collect the proper financial documents and give a mortgage refinancing application before it can be approved. When you buy a house, you opt for a mortgage to pay off the home seller, but you get a new mortgage when you go for refinancing. Rather than going to the home seller, the new lease directly pays off your old home loan balance.
Refinancing a mortgage is nothing but clearing off an existing loan and replacing it with a new one. People typically refinance their homes to reduce their interest rate, cut monthly payments or tap their home's equity. Refinancing can also allow you to access up to 80% of your home's value, reducing any outstanding mortgages. You can use equity to renew your home, invest in stocks, buy a new car, buy additional property, and more. As a homeowner, you have the liberty to decide how to use this loan to meet your financial goals.
Why choose me?
If you're considering refinancing your mortgage, no matter where you are in the process, I have the resources to encourage you to make an informed decision. At Mohit Verma, Mortgage Broker, I know refinancing is about more than just interest rates and payment plans. I am your companion in this critical decision. I will provide you with all the data you need to make an informed choice about your financial future. When you choose me to work with you, your goals become my goals. I will leave no area untouched to help you find solutions that meet your specific financial needs.
Renewing your mortgage shouldn't just be signing on the dotted line without knowing all your mortgage options. At the time of your mortgage renewal, do some research, compare your options and do a self-assessment on where you stand in your life to assess if your mortgage fits your lifestyle, financial situation, and future goals.
Before signing your renewal papers, you have the option of renewing your mortgage loan agreement with the same term, or you could change your mortgage loan agreement with various clauses. Mortgage Renewal doesn't necessarily mean that you need to renew it with the same lender. If you are not comfortable, you can always move your mortgage to another lender who offers the best rates. Before accepting any offer, don't forget to consult with your mortgage broker to avoid unwanted problems later.
Why choose me?
At Mohit Verma, Mortgage Broker, I care about creating peace of mind for you and your loved ones. I make your renewal process easy and stress-free. I will make sure that you get the most competitive rate and terms at renewal time. Having many lenders compete for your business is an excellent way to ensure you get the best price for your situation. I deal with various lending institutions and other national and regional lenders, which means significant negotiating power behind getting the best mortgage to fit your specific situation. So don't wait till you receive the renewal letter from your lender. Contact me today!
If you find yourself in a position where you require money for things like a home repair or buy a new vehicle, as a homeowner, if you can pay off your mortgage on time, you can go for home equity to get a low-interest loan. A Home Equity Line Of Credit, or HELOC, is a loan in which the borrower utilizes their home equity as collateral. Because you are using an asset to secure the debt, the borrowed amount can be large, but your interest rate will be lower than credit cards or personal lines of credit.
A HELOC works almost like a credit card, enabling you to withdraw funds up to your credit limit. But even though you may have access to funds, it will be helpful if you borrow only when you need it. Generally, you can decide to draw at a variable or fixed interest rate—whichever works best for your situation. You can avail a revolving line of credit for a set period of time, known as the draw period. During the draw period, you'll make payments to the balance but can continue to draw funds up to your available limit. When the draw period ends, the repayment period begins, and you'll pay off the remaining balance before the maturity date.
Why choose me?
Taking out a home equity loan needs assistance, as the process itself can be complicated. I am are here to work with you and help you get an affordable borrowing solution. My goal is to make every borrowing event a positive one. As a mortgage specialist, I have the means and resources to help you secure the money you need without the wait. Mohit Verma, Mortgage Broker can help homeowners with varying needs and preferences. I am a specialist in the world of mortgages and work one-on-one with you to help you consider your options and identify the best mortgage product for you. Contact me today to know more about my offerings!
Power of Sale/Rescue Financing
When a borrower misses making the agreed-upon payments on their mortgage, a mortgage lender has the right to start a Power of Sale process to recover their money. In simple words, this method gives the legal right to the lender or bank to sell the borrower’s property with a set process as per the laws in Ontario. The lender will issue a ‘Statement of Claim,’ listed with the Ontario courts. The borrower usually has 3-6 weeks to pay the missed payments and negate the mortgage default and the Power of Sale. A Power of Sale can also happen if the borrower uses the property for an unlawful purpose or has not kept the home in good condition, hasn’t paid their property taxes, or has sufficient property insurance.
Luckily, you can use various effective methods to stop the Power of Sale process, and Mohit Verma is well-versed in all of them. If you are a homeowner facing a potential Power of Sale process, some options are available to negate it. Firstly, you can get in touch with your lender to address any possible alternatives so that you can bring the mortgage payments back up to par and avoid a Power of Sale. Another option you may want to go for is to secure another mortgage from another lender. You can then utilize this mortgage to pay off your original mortgage and any arrears that come with it or bring the arrears up-to-date with a second mortgage.
Why choose Mohit Verma?
Stopping a Power of Sale on your property can be a complicated process unless you have an expert by your side to lead you through every step. For a lender to begin with a Power of Sale, they must abide by a strict process. Mohit Verma applies his knowledge and experience to help borrowers regain their payments by stopping a Power of Sale from occurring. I can help get lenders off your back and put you on the road to financial protection and stability. Once I have assessed your case, I will work with you and provide resources to stop the Power of Sale proceedings in their tracks by using several tried and proven methods. Working swiftly to assemble documents and providing full disclosure and documentation relating to your situation is critical to a successful recovery.