Another reason for brokers to do business with us
A second mortgage is just one example of the type of attractive alternative lending product we have on offer for our valued and broad-based pool of mortgage brokers and agents. We not only provide competitive rates and terms to mortgage borrowers, but we also offer the kind of service and support to mortgage brokers that’s crucial in an otherwise competitive mortgage industry. It’s just another part of the ASCEND MIC difference.
As many mortgage brokers and agents are aware, it can be difficult to offer mortgage borrowers competitive alternatives to the traditional lenders. It’s an extremely competitive sector, isn’t it. But a second mortgage provided by ASCEND MIC provides mortgage brokers with not only a competitive product, but the service necessary to deliver results.
Here are the specifics on what ASCENC MIC offers on an owner-occupied second mortgage:
| Mortgage Type | Usage | Property Type | Max LTV | Applicable Interest % | Lender Fee % | Province | Minimum- Maximum |
Terms |
| Second | Owner-Occupied | Detached, Semi s & Towns | 85% | 8.99-19.99% | 2-5% | ON | $20,000.00-$150,000.00 | 6 Mns, 1 Yr & 2 Yrs |
Also included in our package of services for second mortgages:
- Equity-based lending up to 85%.
- Home Trust list of approved appraisers.
- Minimum 500 Beacon score.
- No TDS/GDS requirement.
- No income requirement.
- Non-resident programs.
- Interest only.
- Approvals within 24 hours.
- Quick funding within 7 days of approval.
- Residential and commercial mortgages.
- Courteous, friendly, flexible and always willing to help.
- Submit via email (application, credit bureau and appraisal) or via Filogix Expert (ASCEND MIC).
Second mortgages are provided for both residential and commercial borrowers!
However, what is as important as the terms we provide to mortgage borrowers is the kind of service we provide to mortgage brokers and agents.
To that end, we quickly assess broker submissions, provide fast quotes, and offer competitive pricing.
At ASCEND MIC, we also help mortgage brokers to manage borrower relations and expectations, provide solutions and not barriers, while always maintaining a relationship of trust, professionalism and reliability.
We don’t lend money to the public directly. We offer mortgage products strictly through our trusted pool of mortgage brokers and agents. This means we cultivate these relationships to better service our customers, which are your customers. Together, we offer customers choices they can’t get elsewhere. It’s a competitive difference that works for everyone: the lender, the borrower and the mortgage broker and agent.
Our service to brokers
We offer multiple points of contact and service, quick turnaround times, fast closings and flexible terms and underwriting. It’s this combination of product and service that we believe sets us apart from the crowd.
At ASCEND MIC, we are mortgage experts. Our team has been in the mortgage business for decades. So, we know the industry, we have the back-office and administrative expertise, we know the third-party experts and always have a pulse on what’s happening in the Canadian mortgage industry. Why not use this expertise to your advantage, too?
With second mortgages, the challenge is for lenders to offer favourable terms while taking the additional risk. It’s a balance we’ve come to manage successfully here at ASCEND MIC.
Talk to us today to explore a long-term partnership. Or apply directly to become one of our trusted brokers/agents. We look forward to hearing from you.