From Canada’s Largest Private Lending Brokerage
In the process of purchasing a home, there are many timelines and closing dates, and many of them do not match up, sometimes creating a need for additional capital. Have you purchased a new home but your current home has not closed? At Matrix Mortgage Global, we make sure that Canadian homeowners have access to the money they need when buying or selling their home by offering bridge loans.
A bridge loan is exactly what it sounds like. It is a short term loan that can be used to pay for various home buying and selling costs, eliminate a financial obligation, and get access to cash flow right away. It is a popular financing option for landlords, property developers, real estate investors, and homeowners in the process of selling. Basically, bridge loans provide you with the financing you need but is not yet available from more traditional borrowing avenues (you are waiting for your house to sell or money to get freed up). It is secured to your existing home, and the funds can be used for a down payment on a new property. Since the interest rates for bridge loans vary, it’s important to work with a broker, like us, to help you get the lowest interest rates and financing terms possible.
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Buying and selling real estate does not always go as smoothly as we would like. Whether you are waiting for your home to sell, you are purchasing a seasonal or vacation home, or waiting on capital from another source, we offer a variety of bridge loans that can be customized to meet your specific financial needs.
As your alternative lending specialist, Matrix Mortgage Global has the solution for you. Our bridge loans offer the flexibility to move into your new dream home up to 365 days before you sell your old home. No income or credit check is required when applying for a bridge loan with us. To qualify for this type of financing, all you need is a firm purchase and sale agreement for the house that you are selling, a firm purchase and sale agreement for the house that you are buying, a statement of adjustments from your lawyer and a moving truck. That’s it!
All you need is the following
- Firm Purchase and Sale Agreement for the house that you are selling
- Firm Purchase and Sale Agreement for the house that you are buying
- Statement of Adjustments from your lawyer and
- A moving truck
Matrix Mortgage Global, Est. 2008
We specialize in alternative residential and commercial mortgages.
Matrix Mortgage Global Brokerage
Lic# 11108 | BC Lic# X300671
100 Consilium Pl. Suite 200 Toronto
On M1H 3E3
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