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Mortgage Options to Meet Your Financial Needs:

We prepare mortgage applications that fit your lifestyle and financial needs. Upon assessing your situation, we will diligently work on your application to prove that you qualify for a Private, Residential, Commercial, Construction or Agricultural mortgage, obtaining the rates and terms that are beneficial to you.

Private Mortgages

Applications for private mortgages are becoming more favorable by our clients who don’t meet the bank’s criteria for a loan because of their circumstances. In this case, a private mortgage is financed by an investor or business and is based on the property itself instead of the borrower. Payments cover the interest only and the loan itself is over a short term of 1-3 years. A down payment isn’t required. Approval time is quick and can be less than 24 hours.

Commercial Mortgages

We have experience obtaining flexible commercial mortgages to benefit your business. Whether you want a short or long term commercial mortgage, we have the expertise to ensure that you get the best rates, terms and repayment options.

Residential Mortgages

When considering a residential mortgage there’s many reasons as to why to apply for one including purchasing residential property to live in or rent out, refinancing or restructuring debts.

Types of Mortgages:

1. Low Rate –Down payment is 20% of the property’s value;

2. High Rate – Down payment is less than 20% with mortgage default insurance as a requirement.

3. Open mortgage – No penalization for repayment at any time over a short or long period.

4. Closed mortgage – No flexibility to repay the mortgage or otherwise unless stated in the terms.

5. Fixed rate – The interest rate is locked in until the mortgage is paid off. Different prepayment options may be written in.

6. Variable and adjustable rate mortgages – The interest rate is current & may be adjusted over the duration of this mortgage as the bank rates change.

Agricultural Mortgages and Subordinated Debt or Mezzanine Financing

We have completed applications that included up to 100% financing for the purchase of land with the purpose of farming or greenhouse operations. Your mortgage terms may be written to be paid in increments for specific services such as greenhouse or blueberry farms.

Should more money be needed to complete an agricultural mortgage, a mezzanine loan is an option that benefits the lender and the borrower. The borrower gets lower rates & tax deductions and the lender gets more money back. In the case of bankruptcy, the lender becomes operator of the business as appointed by the courts.

Construction Mortgages

Payments on a construction mortgage are made in 4 installments as a housing project is progressing towards completion, usually in 4 draws at 35%, 60%, 80% and 100%. An appraiser will make the progress reports.

A Progress Draw has 3 stages which must be upheld.

1. Rough in (roof is on, etc.) – 35% complete

2. Intermediate/Lock up (drywall, heat installation, etc. is complete) – 65% complete

3. Final Occupancy/Completion – 97% complete and ready to be lived in

Quick Enquiry

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“As a first time buyer, I did not have a clue what I was doing.  Harry was there every step of the way. Making the process smooth and painless. Thank you”
Darren
Home Owner
“I’d just like to say again that it has been an absolute pleasure working with the Harry. The help and service received has been fantastic and I can’t fault it. Thank you so much!”
Stephen
Business Owner
“I certainly will recommend your services to anyone I hear looking for a mortgage. I think your service is extremely professional, helpful and supportive.”
Stuart Read
Home Owner

ABOUT US

While most mortgage brokers are disorganised, biased towards one lender and poorly trained, we are setting an example by delivering what we promise: a higher level of service, better advice and better home loans.

SPECIALITIES

  • Non-resident Loans
  • No Deposit home loans
  • Unusual employment
  • Low Doc Loans
  • Guarantor loans
  • Bad credit home loans

INFORMATION

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CONTACT US

   P.O. Box 6687, SURREY, BC.

   (778) 321-0915

   harry@harrydutt.com

   (778) 617-2205

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  • Home
  • About us
  • Mortgages
  • Insurance
  • Leasing
  • Enquire Now
  • Contact us
Harry Dutt Mortgages & Finance