Your very own mortgage concierge.
Financial freedom starts at home.
First time home buyers
Building your first nest can be a balancing act.
As a first time home buyer, eagerness to unlock the door to your new home may influence your decisions. A person who has a goal to stop paying rent versus a person looking to secure an investment foothold will naturally be considering different things.
The person looking to stop paying rent oftentimes will look for what their rent money will transfer into so that their expenses remain relatively the same. When you start with criteria like that, you are putting limitations on your potential outcomes.
The person looking to secure an investment foothold has different ideas coursing through their mind. They may still look for properties that are similar to their rent but also look at how that money will work more efficiently with their purchase. For example, looking for a house with income suite potential rather than buying that forever family home. Investment minded people make sacrifices today to insure security in the future.
Atelier Lending Inc. professionals support clients through the process and encourage them to think like an investor, where the first home is the first investment in your future.
Mortgage Renewal
A great time to restructure your existing mortgage.
For many, mortgage renewal means finding the best interest rate above all else. But we promise you, there’s more to consider.
Beyond interest rates, consider payment frequency, length of term, type of mortgage and flexibility required. Every mortgage should be acquired based on your current conditions. Resist the urge to set it and forget it.
Are you in a better financial position and wanting to shorten the life of your mortgage?
Do you want to take advantage of variable rates versus fixed?
Do you have equity that you would like to divest into a second property?
Atelier Lending Inc. encourages each client to be mindful at renewal time. As circumstances change, so can your mortgage structure — for the better. Come prepared to discuss your current goals and any changes to your financial position, so we can get you the best mortgage possible.
Mortgage Refinancing
Make your equity work for you.
Refinancing your mortgage is a great way to consolidate debt, do some renovations, or pull out equity to further your future plans and investments.
When you pay off your current mortgage and replace it with a new mortgage, that’s refinancing. This typically occurs at the end of the established term. However, it can be refinanced at any time throughout the term.
This new mortgage may have a higher mortgage balance in order to borrow more money, or it may have a different interest rate, term, or mortgage type.
Refinancing your mortgage to borrow more money involves using your home equity. You are able to refinance your mortgage up to 80% of your home’s value.
If you don’t need to borrow a large amount of money all at once but would like to have the option available to you, a home equity line of credit (HELOC) can be a more flexible alternative to an amortizing mortgage loan.
You can use this unlocked equity to consolidate debt or use the cash for any purpose, such as making home improvements or to travel.
Atelier Lending Inc. will help you discover how to make your equity work for you.
Mortgage Investments
Engage your equity when opportunity knocks.
Future-focused Canadians are continually looking at different ways to invest their money. Real estate is a popular option to consider and is readily attainable with the right advice.
Unlike the mortgage you took out on your first home, financing an investment property is a little more complex.
When you start shopping for an investment property, the first thing you need to consider is the number of units your property will have. Most buildings with 4 units or less are zoned residential, so the qualification criteria and financing options are only slightly more difficult than that of a primary residence mortgage.
However, properties with 5 or more units fall under commercial lending guidelines, so a lender would require that you take out a commercial mortgage on it. Go here to see our Commercial Service Offerings.
When you, the owner, will be living in one of the units, the property is considered owner-occupied and subject to the standard residential down payment. When all of the units will be rented out, your property is considered non-owner occupied. Non-owner occupied is subject to a minimum 20% down payment.
Atelier Lending Inc. is primed and ready to help you navigate your expansion into investment property. We’ll talk you through the new qualification criteria and everything you need to procure a favourable outcome.
Disclaimer
These calculations are based on details you have entered into the calculator tool. It is not an offer of mortgage insurance or in any way binding upon Atelier Lending Inc., but rather is an informational tool. Please consult with one of our mortgage professionals to review your options.
Mortgage Calculator
For an estimate of your expenses.
How it works
Our mortgage calculator allows you to enter in all of the parameters that are known to you, including the interest rate.
When you enter in your mortgage amount (purchase prices less the down payment), The calculator will provide you with a rough estimate of future payments, displayed in writing on screen or graphically when you select the icon to the right.
If your down payment is less than 20% of the purchase price, you will be subject to mortgage default insurance fees. Please speak to one of our professionals regarding your specific needs.
Broker to the rescue after bank client of 15 years denied financing
Broker Story
Edmonton
A client came to me looking to purchase an investment property after his bank of 15 years declined him. I was able to help him not only purchase that property, but 3 others after that.
Knowing how to strategize and structure a file, as well as which lender has the appetite for that kind of file was the difference between being just a homeowner or an investor.
From making ends meet to more than could ever dream possible
Rebecca H’s Story
Edmonton
We’re so so thankful for you. God really used you to bless us and bring our life to a better place. We just built a life here over 4 years ago. Tony was trying his best to be everything before I was able to work or drive. We were unsure about financial stability for our life and we just kept working, paying bills, but not have saving much. We wanted to buy another house kind of like an investment for us.
Later on God opened the door to work and to learn from you.
We were also happy to know that we could buy a second house with 5% down payment. We purchased and moved to that bigger house where we can each have our own room, and host more people. If later on we have another baby, we have plenty of room and won’t need to hurry to move.
We’re so happy and so thankful for everything you did for us. We can’t believe how things came together so easily and smooth! We’re thanking God for Divine connection and opportunity💕🙏🏻
From rejected by the bank to dream home within 5 years
Broker Story
Edmonton
I had a client come to me who was rejected by the bank for a mortgage and they didn’t know why. After getting their application and checking their credit, I was able to coach them on how to improve their credit to best put them in a position to purchase a home. 6 months later, they purchased their first home.
Since then, the value of their home almost doubled because they were able to buy at the right time. They sold that home and are now comfortably living in their dream home. So glad to be able to make a huge difference in their lives. From having no hope of home ownership to living in their dream home 5 years later. Making dreams a reality.
