Can I Get a Mortgage for a Manufactured Home on Leased Land in BC?
Finding an affordable home in British Columbia is getting harder every day. From Vancouver to Kelowna, prices for detached houses are through the roof. This is why many people look at manufactured homes (also called mobile homes) as a great alternative. But there is a common problem: Many of these homes sit in parks where […]
What is a High Ratio Mortgage in Canada? A Comprehensive Guide
In Canada, a high-ratio mortgage is a loan where you borrow more than 80% of your property’s value. While traditional banks demand strict mortgage insurance and perfect credit for these loans, private mortgages exist. Seven Lending specializes in equity-based financing, offering up to 85% Loan-to-Value (LTV) for BC homeowners. We bypass rigid bank rules to […]
Can You Get a Mortgage for Land? A Complete Guide
Buying land is a smart investment, but financing it requires a different strategy than a typical home purchase. Banks often consider vacant land a higher risk, which is why so many investors ask, “Can you get a mortgage for land?”. While traditional lenders may be hesitant, a clear path to approval exists. Keep reading to […]
How to Get a Mortgage Without a Down Payment: A Guide for Canadian Homebuyers
Owning a home in Canada can feel like a distant dream, especially when you think about the down payment. The good news is that you have more options than you might think. You don’t always need to have that cash saved up to get the keys to a new home. Let’s walk through exactly how […]
Mobile Home Mortgage Financing Explained: Best Options and Tips
Flexible Financing Options Bad Credit Help Apply Now Buying a mobile house is a milestone and probably one of the most important decisions of your life. It’s the start of a new lifestyle of owning a home. In comes the financial side: mobile home mortgage financing. A lot of people are able to own a […]
How to remortgage to buy a second property?
Fund Down Payment Buy Investment Property Buying a new house or new property is a dream come true for many people. It increases your wealth, can be a great gateway, and generates rental income. But how does this dream become a reality? Well, the answer is through remortgaging. Remortgaging your main house to buy a […]
What Is a B Lender? Understanding Alternative Financing Options
In the dynamic world of real estate financing, not everyone fits the mold required by traditional banks. For those who find themselves outside the criteria of mainstream lenders, B lenders offer a valuable alternative. But what exactly is a B lender, and how can they benefit you? In this blog, we’ll explore what B lenders […]
Demystifying Insured mortgage: Protect Your Home and Credit
Are you considering taking out an insured mortgage but don’t know where to start? You’re not alone! Getting mortgages can be a bit of a mystery to home buyers, but don’t worry – we’re here to demystify the process. This mortgage is a type of home loan backed by a government or private mortgage insurance company, […]
Should You Get A Cash-Out Refinance?
If you’re looking to make some extra money off of your home equity, a cash-out refinance may be the right solution for you. It is a type of mortgage refinancing in which you convert your home equity into cash by taking out a new mortgage that is larger than the amount of your previous mortgage. […]
Using equity to buy another house
You may believe of home equity as a sort of living allowance for retirees. However, did you realize that you could be using your equity to buy another house? At Seven Lending, we are here to help you to do exactly that! A home equity loan is a form of the second mortgage that lets […]