We are happy to announce that Graysbrook Capital is now available on the Velocity Mortgage Operating Platform. Velocity is a flexible and innovative mortgage technology solution, and we’re happy to facilitate the processing of applications, providing a seamless experience for our mortgage broker partners in Atlantic Canada and Ontario. Here is the process: When submitting…
We are happy to announce that Graysbrook Capital is now available on the Filogix Mortgage Marketplace. We are lending across Atlantic Canada, and we’re excited to provide a more seamless application process for our broker partners! Here is the process: Go to Lender submit section: under lender type, choose Private Under Lender, scroll down to Graysbrook…
Broker Scenario #1 Retirement Consolidation Problem: Clients looking to refinance home and consolidate some of their debts to get ready to downsize as they are retiring. They wanted to include partial payments as their income is changing and they plan on selling home in the next year. Graysbrook Capital Solution: We approved the deal, but…
Broker Scenario #1 Blanket Mortgage Construction Problem: Client is building home for his son and was 50% complete, but needed funds to complete the build. Client needed $125,000 on closing and an additional $30,000 to complete, without a traditional draw structure. The client was willing to put a blanket mortgage on three other pieces of land…
Broker Scenario #1 Divorce – Separation of Assets Problem: Client wishes to take his ex-spouse off title and pay off debts. Ex-spouse wishes to purchase her own property and needs to be removed from title of marital home. Client has not completed personal tax return for 3 years, so banks will not approve. Graysbrook Capital Solution:…
Broker Scenario #1 Commercial CRA Debt Problem: Client is self employed & owns 3 commercial properties. Clients wish to retire and all three properties are for sale. Clients owe $90,000 in back taxes and wish to pay debt before properties are sold. There is a small 1st on one property, other two are owned clear. Graysbrook…
Broker Scenario #1 Purchase Land Problem:Client is looking to purchase a piece of land and build a home. The purchase price of the land was $60,000, and the client had $30,000 to put towards the purchase. The clients were turned down by the banks. Graysbrook Capital Solution: The broker called to see if there was…
Broker Scenario #1 Blanket Mortgage Problem: Client is looking for funds to pay substantial CRA debt. Insufficient equity in primary residence to complete the mortgage. Graysbrook Capital Solution: Client owns a second rental property with a small mortgage against it. Adding the second property to the scenario provided sufficient equity to complete the deal and…
Broker Scenario #1 Construction Problem: A 6-unit town house construction mortgage with 3 draws. Client ran short of funds near end of build. Broker had pre-approved take out well above our mortgage but only after the lien period expired. Graysbrook Capital Solution: We advanced another 10% and placed restrictions on the lien holdback. Broker Benefit:Client was…