Complex Mortgage Solutions
Sometimes it's not a straight path, but that doesn't mean it's impossible.
Life isn’t always simple, and neither are some mortgage situations. Whether you’re self-employed, dealing with credit challenges, or have unique property needs, we specialize in finding creative solutions that work for you. Our Brokers for Life are here to navigate the complexities and secure the right mortgage for your situation, no matter how tricky it may seem. Let’s make it happen — together!
Bridge Financing – Your Key to Smooth Home Transitions
Sometimes, buying your new home while still waiting to sell your current one can feel like a juggling act. That’s where bridge financing comes in, offering a short-term solution to cover the gap between the sale of one property and the purchase of the next. With a bridge loan, you can keep things moving without the stress of waiting for your current home to sell.
Bridge Financing Made Simple with Brokers For Life
Our team understands that every situation is different, and we’re here to make sure you have the right options in place for a seamless transition. Whether you need funds for a down payment or just need extra time to manage both properties, we’ll guide you through the best bridge loan products available.
Why Consider a Bridge Loan?
- Time to Breathe: A bridge loan gives you the flexibility to secure your next home while waiting for the sale of your current property to go through.
- Less Stress: No need to rush your sale – a bridge loan provides the breathing room you need, allowing you to move forward with confidence.
- Keep Your Savings Intact: If you’re managing multiple mortgages, a bridge loan can help you avoid dipping into your savings during the transition
Consolidate Debt – Simplify Your Finances and Get Back on Track
Life happens, and sometimes it’s easy to find yourself juggling multiple debts. Whether you’ve taken on a rental property to help cover your mortgage or started a business, it can feel overwhelming to keep track of everything. If paying off various debts is stretching your finances too thin, we can help.
At Brokers For Life, we specialize in helping clients consolidate their debts into a single, manageable mortgage solution. This can improve your credit score, lower your interest rates, and simplify your financial situation, giving you the freedom to focus on your bigger goals.
Example
Take our client, for instance—he had great credit but was living with his mom while renting out his condo to help support his new business. He was carrying a few debts along with his mortgage, and with a low Loan-to-Value (LTV) on his property, we helped him refinance and combine everything into one lower-interest payment. Now, with all his debts consolidated, he’s able to focus on growing his business. Once he’s on solid ground, he’ll be in a great position to refinance again for a longer-term mortgage. Problem solved, stress reduced.
Ready to simplify your finances? Let’s work together to find the right debt consolidation solution for you.
Divorce Payout to Keep the Home – A Fresh Start with the Right Financial Support
Going through a divorce is challenging enough without having to worry about homeownership and finances. When you’re trying to navigate title transfers, payout settlements, and your mortgage, the stress can become overwhelming. That’s where we come in. We specialize in helping clients through these complex situations by providing short-term funding solutions. This allows you to pay out your ex-partner, cover outstanding debts, and keep the home you’ve worked hard for, all while securing your financial future.
Example
One of our clients found themselves in a tough divorce. Their partner wasn’t honoring their part of the agreement, leaving our client responsible for the car loan and credit card debt—things that negatively impacted their credit score, despite making all other payments on time.
With significant equity in the home, they needed funds quickly to pay out their ex-partner’s share of the property and cover the outstanding loans, allowing for a smooth title transfer and helping to restore their credit. Despite the location being a bit outside of the norm for most lenders, we were able to work with them and provide the financial solution they needed to get back on track.
The result?
Homeownership retained, debts paid, and the financial weight lifted—allowing them to move forward with a clean slate.
Need help navigating a divorce payout or title
transfer?
Let’s talk. We’re here to find the best solution for your unique situation.
Looking at an Investment Property? The Right Mortgage Matters!
Finding the perfect mortgage for an investment or income property is crucial to turning your property goals into success. With the right mortgage, you’ll be ready to smile, not stress—this should be fun right!
Whether you’re buying for rental income, future resale, or both, an investment property mortgage requires at least 20% down.
What Your Investment Property Mortgage Can Do for You
- Offer fixed and variable-rate mortgage options
- Provide competitive rates, with only a small premium
- Finance up to 80% Loan-to-Value (LTV) on a 1-4 unit rental property
- Allow extended amortizations up to 30 years
Why Is Your Investment Property Mortgage Referred to as 'Traditional'?
A traditional mortgage requires a minimum 20% down payment, so you don’t need mortgage default insurance. This gives you more options and flexibility compared to high-ratio mortgages, which require insurance and come with higher premiums.
How Are Your Mortgage Rates Affected with a Property Investment?
Many lenders offer their best rates with a small premium. Our expert brokers shop around with many accredited lenders (not just one) to find your Real Life Mortgage Solution.
What About Your Amortization?
If you’re putting down 20%, have good credit, and stable income, you’re likely eligible for a 30-year amortization (depending on the lender). This can help lower your monthly payments. We’ll quickly help you explore your best options.
Don’t Forget About Debt Coverage Ratio (DCR) Requirements:
Some lenders use rental offset to help qualify for your mortgage, while others may use a 1.10% DCR. This is calculated by dividing the net operating income by your debt service.
Sound Confusing; What Does Rental Offset Mean?
It means the lender will use 50-70% of your rental income to offset your mortgage payment (principal, interest, and taxes). If the rental income exceeds the property’s mortgage payment, the surplus adds to your net worth. If not, the shortfall will be added to your Debt Ratio. And not to worry, different lenders have different prefered ways of calculating this, we will make sure we find you the best match.
Net Worth
Some lenders require a minimum net worth for rental properties (often $50,000 to $100,000 per property). But many don’t, so don’t worry—we’ll work with lenders who have flexible criteria.
Looking at an Investment Property? The Right Mortgage Matters!
Finding the perfect mortgage for an investment or income property is crucial to turning your property goals into success. With the right mortgage, you’ll be ready to smile, not stress—this should be fun right!
Whether you’re buying for rental income, future resale, or both, an investment property mortgage requires at least 20% down.
What Your Investment Property Mortgage Can Do for You
- Offer fixed and variable-rate mortgage options
- Provide competitive rates, with only a small premium
- Finance up to 80% Loan-to-Value (LTV) on a 1-4 unit rental property
- Allow extended amortizations up to 30 years
Why Is Your Investment Property Mortgage Referred to as 'Traditional'?
A traditional mortgage requires a minimum 20% down payment, so you don’t need mortgage default insurance. This gives you more options and flexibility compared to high-ratio mortgages, which require insurance and come with higher premiums.
How Are Your Mortgage Rates Affected with a Property Investment?
Many lenders offer their best rates with a small premium. Our expert brokers shop around with many accredited lenders (not just one) to find your Real Life Mortgage Solution.
What About Your Amortization?
If you’re putting down 20%, have good credit, and stable income, you’re likely eligible for a 30-year amortization (depending on the lender). This can help lower your monthly payments. We’ll quickly help you explore your best options.
Don’t Forget About Debt Coverage Ratio (DCR) Requirements:
Some lenders use rental offset to help qualify for your mortgage, while others may use a 1.10% DCR. This is calculated by dividing the net operating income by your debt service.
Sound Confusing; What Does Rental Offset Mean?
It means the lender will use 50-70% of your rental income to offset your mortgage payment (principal, interest, and taxes). If the rental income exceeds the property’s mortgage payment, the surplus adds to your net worth. If not, the shortfall will be added to your Debt Ratio. And not to worry, different lenders have different prefered ways of calculating this, we will make sure we find you the best match.
Net Worth
Some lenders require a minimum net worth for rental properties (often $50,000 to $100,000 per property). But many don’t, so don’t worry—we’ll work with lenders who have flexible criteria.
Vacation & Second Home
"That perfect get away... we have solutions"
Life’s moving fast, and as your family grows, so do your needs—maybe it’s more room for the kids to play, or a little extra space for yourself. Whether you’re dreaming of a second home closer to work to make that daily grind a little easier, or a cozy getaway to recharge and escape, finding the perfect mortgage at the best rate can be the key to making it happen. It’s not just about the house—it’s about the life you want to build.
HELOC
Similar to a credit card, a home equity loan (HELOC) is backed by your home equity. A credit line has been granted for you, and you are able to borrow up to that amount as needed. Payments will be due, and they may cover the principal as well as interest or only the interest. One significant benefit is that interest is only charged on the actual amount borrowed. The loss of your home can result from not making your payments on time, even though HELOCs frequently have cheaper interest rates. They are frequently used to manage higher expenses, consolidate debt, and make home upgrades.
Reverse mortgage
We have access to a few lenders that have this product, allowing you to stay in your home longer. Enjoy financial freedom in retirement without leaving the comfort of your home. A reverse mortgage allows homeowners aged 55+ to access their home’s equity tax-free while continuing to live in their property—no immediate repayments required until you sell or move out.
Zero down mortgage
Zero down does not exist anymore BUT you can do borrowed down payment – meaning you can use a Line of credit, credit card to help with your down payment and make home ownership achievable! This program does require excellent credit and can not be used in conjunction with other programs.
Bruised or low credit options
A low credit score can be a major hurdle when applying for a mortgage with traditional lenders. Banks often have strict credit requirements, making it difficult for those with past credit issues to qualify. Fortunately, a bruised credit history doesn’t have to mean the end of your homeownership dreams. Mortgage Suite specializes in helping people with less-than-perfect credit secure a mortgage, understanding that credit scores aren’t the only measure of someone’s ability to repay.
HELOC
Similar to a credit card, a home equity loan (HELOC) is backed by your home equity. A credit line has been granted for you, and you are able to borrow up to that amount as needed. Payments will be due, and they may cover the principal as well as interest or only the interest. One significant benefit is that interest is only charged on the actual amount borrowed. The loss of your home can result from not making your payments on time, even though HELOCs frequently have cheaper interest rates. They are frequently used to manage higher expenses, consolidate debt, and make home upgrades.
Reverse mortgage
We have access to a few lenders that have this product, allowing you to stay in your home longer. Enjoy financial freedom in retirement without leaving the comfort of your home. A reverse mortgage allows homeowners aged 55+ to access their home’s equity tax-free while continuing to live in their property—no immediate repayments required until you sell or move out.
Zero down mortgage
Zero down does not exist anymore BUT you can do borrowed down payment – meaning you can use a Line of credit, credit card to help with your down payment and make home ownership achievable! This program does require excellent credit and can not be used in conjunction with other programs.
Bruised or low credit options
Private Mortgages, What is an Alternative Lender?
An alternative lender is any financial institution or mortgage provider that offers more flexible qualification requirements compared to traditional banks. While traditional lenders (like big banks) tend to have stricter rules, alternative lenders are often more willing to consider unique circumstances, making them an option for borrowers who may not meet the rigid criteria of a bank.
This doesn’t mean your mortgage always has to be with an alternative lender, though. Some traditional lenders also offer flexible products that may suit your needs, so we work with a variety of options to find the best fit for you.
Do We Deal with Private Lenders?
We don’t turn to private lenders for clients with good credit.
Private lenders are generally considered a last resort, as they tend to charge high interest rates and fees. They also may not offer the long-term solutions or renewal terms that you would get with more conventional lending options. We prefer to explore more favorable, flexible options for our clients before resorting to private lending.
At Brokers for Life, we focus on finding the right mortgage solution for you—whether through traditional, alternative, or flexible lenders—based on your unique situation.
