Armada Mortgage Corporation is a private Mortgage Investment Corporation (MIC) offering specialized residential lending solutions. They have positioned themselves as a flexible and responsive private lending institution catering to a broad range of borrowers.
Highlights of Armada Mortgage Corporation’s Offerings:
Loan-To-Value (LTV): Armada Mortgage Corporation generally provides loans up to 65% LTV, showcasing a conservative but pragmatic approach to lending that favors security and reliability.
Credit Flexibility: Recognizing that credit history isn’t the only marker of a borrower’s potential, the corporation does not institute minimum Beacon Score requirements for their loans.
Borrowing Capacity: The borrowing options available extend up to $950,000 for first mortgages and up to $250,000 for second mortgages, with the potential to exceed these amounts in scenarios where the LTV and loan details warrant it.
Amortization and Payments: To accommodate various financial situations, Armada Mortgage Corporation offers up to 40-year amortization plans, with interest-only payments being standard upon funding, providing significant flexibility in managing monthly expenses.
Loan Terms: The terms provided are primarily one-year, with both open and closed term mortgages available, giving borrowers the freedom to select the option that best aligns with their financial strategy.
Property Eligibility: A wide variety of property types are eligible for financing, including single-family residences, duplexes, townhouses, apartments, condos, and rental properties.
Efficient Processing: A commitment to fast service ensures a commitment can be provided within 24 hours, streamlining the mortgage approval process.
Documentation: The application process involves submitting a mortgage application, a credit bureau report, and an appraisal. Additional documents may be required based on the specifics of the deal.
As an experienced mortgage broker, I, Elvira, work closely with Armada Mortgage Corporation to facilitate access to private mortgage products for my clients. My collaboration with this lender allows me to provide personalized, efficient, and flexible mortgage solutions tailored to the various financial situations of borrowers. Whether you require a first or second mortgage, are self-employed, or wish to leverage the equity in your property, I am here to assist you leveraging Armada Mortgage Corporation’s competitive lending services. By partnering with me, Elvira, you tap into a network of financial solutions designed to meet your needs and bring your real estate goals to fruition. Get in touch with me today, and let’s begin the process of securing the private mortgage that’s right for you with the help of Armada Mortgage Corporation.
Receive Rate Updates
*If you find a lower rate on a similar** fixed rate mortgage, we’ll beat it or pay you $500 cash when you complete your mortgage with us. The rates are subject to change without notice. Not all applicants are eligible for the rates shown. Rate you receive may be different, depending upon your personal financial situation. Posted rates may be high ratio and/or quick close which can differ from conventional rates. Certain conditions and restrictions may apply. Rates may vary from Province to Province. Rates subject to change without notice. OAC. E&OE **A similar mortgage must be for the same property, term, and loan amount with the same or lower closing costs.
©2024 BetterRates.ca
