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First Mortgage

Approvals Regardless of one’s Income or Credit


FIRST MORTGAGE

A first mortgage is a registered lien against your property and ranks in priority or first to, or in front of any other rank of mortgage or loan.

First Mortgages generally have terms of up to 5 years depending on one’s income, credit situation and preference.

People seek and obtain first mortgages for various reasons:

  • To buy a principal residence, second property or investment property.
  • To pay off an existing first and/or first and second mortgages perhaps to lower their interest rate or increase the loan to take-out equity for any reason.
  • To pay off their existing first mortgage and take-out extra money for debt consolidation, home improvements or renovations, bring property taxes and mortgage arrears up to date, pay off creditors, family allowance responsibilities, etc.



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