From the BlogBlog RSS Feed
Examine the fine print behind reduced no-frills mortgages
The market is warming up with some low-rate no-frills home loan promos. They are absolutely ...

I would really like to thank you Jesse for your help and guidance during my remortgage with you. Your professional advice and 7 day 24hr service is un touchable in this day and age. I was always scared to death thinking about a remortgage based on how most banks work and how they prolong the process, usually to the point that you are discouraged by the time it is completed, but with you Jesse, it was a walk in the park and very quickly completed and I will certainly reference any one I hear of that is thinking of a remortgage renewal. Most of all I want to thank you for all the cash that you freed up for me, with your great interest rate and terms you were able to save me more than $800.00 per month.

Thanks again!! Your help was much appreciated.

G. Smith
Mortgage Agent Licence #M15002246 (Ontario License)
#160000362 (NB License)
Apply Now!

Home Refinancing With Low Credit In St. Catharines

Getting approved for home refinancing with low credit in St. Catharines, ON will require you to have a fair amount of equity in your home. Mortgage lenders lending for low credit home refinancing in St. Catharines ON will lend up to 75% of the value of your home. Refinancing your home with low credit in St. Catharines ON will have to be done by using an experienced mortgage agent to access these alternative lenders. Lenders who mostly work with low credit borrowers are known as B lenders and sub-prime lenders. If you have low credit and looking to refinance your home I can help. In this scenario I choose to write an example of a home refinancing being done to consolidate and pay off obligations. If you have long standing debts such as visas, lines of credit, 2nd mortgage or any other loans I can help you to use your home equity to pay off all those obligations. I can also help you get a low credit home equity loan to pay for property tax arrears, collections, income tax arrears, judgements and any other obligation you may have.

To give you a clear idea, I am providing you a detailed before and after "LOW CREDIT HOME REFINANCING SCENARIO".

Example # 1 (before home refinance)
Current Situation Balance Payment
Mortgage (5.00%) $150,000 $959.00
Unsecured Line $10,000 $300.00
Credit Cards/Loans $30,000 $900.00
Penalty $2,500 $0.00
Total $182,500 $2,150 monthly

Below is scenario after refinancing your home and paying off all those obligations.

New Mortgage Balance Payment
Mortgage (4.50%) $182,500 $1150.00
Unsecured Line Paid off $0.00
Credit Cards/Loans Paid off $0.00
Penalty Paid off $0.00
Total $182,500 $1150 monthly

The above scenarios are showing that you would save $1,000 per month. That means you are saving $12,000 per year. In 5 years your net saving is $60,000. Providing most of the debts are paid off!


Can I Refinance With Bad Credit?

With home refinancing rates near historic lows, it’s no wonder so many people are considering refinancing their mortgage.

Home refinancing means replacing your existing mortgage with a new mortgage. Home refinancing can save homeowners money over the life of the loan (since they’re paying less in interest) and lower their monthly payments. But for homeowners with less-than-stellar credit, refinancing can be difficult if they don’t have a lot of equity in their home.


Can I do a Home Refinance with No income Proof?

The no income proof mortgage loan is the type of refinance loan that you don't need to show your income in order to get approved.

Maybe you don't have "consistent" income because you're self-employed. Or maybe your annual income high, or isn't a salary or hourly, so it changes all the time. If that's the case, this is the type of refinance loan for you. No income-showing required!


Main Benefits of No income verification refinance mortgage loans:

Here's some benefits of choosing the "no income verification loan" to refinance your home with:

  • Not having to show your income to get approved for a home refinance loan makes it a loan that's super-easy to qualify for
  • You only need enough equity in your home to qualify for a no income refinance mortgage loan. The amount of equity needed to qualify for a no income proof refinance loan will typically depend on the location of your home, your credit history and the condition of your home.
  • You don't have to have to worry about what your employment history to get a no income or low income proof refinance loan
  • You don't have to worry about what your current income is like to get a no income verification refinance loan: it can be small or large income, commission or hourly income.


What Is the Typical Refinancing Process Like?

No matter your credit score, the refinancing process typically works like this. A borrower will contact a bank or a mortgage agent/broker to see if they can refinance their home. The mortgage agent/broker will have a lot more home refinancing options for the client. An experienced agent will ask questions to determine if they feel they can help the person refinance their home and will explain the client what they can expect(amounts, interest rates, terms, etc). The mortgage agent will take a full application to submit to the potential lender and will also collect necessary documents from the client. The documents required for the home refinance process will vary slightly depending on the lender being used since some lenders require more documentation than others. If the home refinance is approved, the lender will give you a quote, which should include the rate, closing costs and fees. If you accept this quote, the lender will usually order an appraisal of your home, which will determine the amount of equity you have in your home Finally, you will close on the loan, during which time you’ll sign all closing documents, pay any fees and the new lender will send money to the old lender paying off your former mortgage.


What are the Advantages of Refinancing?

One of the reason a person may refinance their home is to lower their mortgage interest rate. Getting a lower interest rate can have a big impact on your monthly payments and can potentially save a person hundreds of dollars per year. Another reason people refinance their home is consolidate debts to lower their monthly payment obligation and/or lower the interest rate on their loans. Since credit cards and personal loans are often higher interest than a mortgage some people will refinance and consolidate all their debts into their mortgage and at the same time lower their overall monthly payments. Some people simply refinance to take out some of the equity they have in their homes in order to use the money for something else.

If you are looking to refinance your home, I’m here to help. I have a network of mortgage lender partners to help you even if you have bad credit. If you’re willing to use my services. Please fill out our short application form and we will contact you within a few business hours.

My office can help you with any of the following mortgage scenarios:

  • Home refinancing to pay off loans (good credit / bad credit / no credit)
  • Home refinancing to pay off collections, income tax arrears and judgements
  • Bad Credit Refinancing
  • Home Refinancing with no Income Proof
  • Home Equity Loans (good credit / bad credit / no credit)
  • Mortgage Renewal (bad credit / good credit)
  • Self-Employed Mortgage Loans
  • Home Equity Loans (No Income Proof)
  • Land Development Mortgage Loan
  • Bad Credit Second mortgages
  • Private Lending
  • Construction Loans
  • Fast Emergency Home Loans to Stop Foreclosure
  • Best Mortgage Rates in Canada
  • And MORE!


The Benefits of Using a Mortgage Broker VS a Bank to Refinance you Home

There are many options available today for Canadians and going to the bank for a mortgage loan just doesn’t make sense anymore. By going to bank, you are only shown that bank’s mortgage products which are very few. By working with a mortgage broker you have various options.


What are the benefits of using a mortgage broker instead of a bank specialist to refinance your home?

  • Convenience and speed. Mortgage brokers will work around your schedule to make the transaction as easy and convenient as possible.
  • Very competitive rates for bad credit home refinancing and other types of home mortgage loans. Banks only have their own products to offer for home refinancing whereas our mortgage brokers have almost all of the banks at their disposal plus alternative mortgage products that the banks cannot access. With all the options available through their wide array of resources, clients can rest assured that they will receive the most competitive rates and terms to match their individual mortgage needs
  • Mortgage brokers offer consultative service, advice and solutions for home refinancing that are customized to each client’s needs.
  • Preserved credit rating. When you shop for a home refinance loan by going to different banks, there is an accumulation of lender inquiries on your credit bureau report, possibly affecting your credit rating and, ultimately, the rate and terms of your mortgage. This isn’t the case with a mortgage broker; only one inquiry can get many competing lenders to quote on your business.
  • Mortgage brokers work for you. Unlike banks, mortgage brokers work for the borrower(you) instead of working for the bank! If you have credit issues, mortgage brokers will work hard to improve your ability to get approved for a home refinancing loan. They will work out the deal for your needs.
Apply Online!
Today's Low Rates
5 Year Fixed Rate: 2.79%
5 Year Variable Rate: 2.10%
© Copyright 2018 - Jesse Brun - All rights reserved. | Privacy Policy
toll-free: 1 (888) 878-4660
fax: 1 (888) 909-9869
*Award is for 2015-2016 Top Canadian Mortgage Team within Mortgage Intelligence organisation. Award is given by Mortgage Intelligence and for Top Canadian Mortgage Team within Mortgage Intelligence Company / Organization. Award category is "Team with 20 mortgage brokers / agents or less."