If you are planning kitchen and bathroom renovations, roofing, windows or doors replacement, or simply updating fixtures and flooring, you might need to secure financing first. If you are looking to downsize, but don’t have cash flow for investing in a renovation, Graysbrook Capital can help you leverage your home equity to finance renovations.
Downsizing is a decision that many will ponder at some point in their lives, but often it is hard to know whether this major move is the right move for you and your loved ones. A decision such as this can make life easier and more enjoyable, but only if done when you are truly ready. While the reasons may vary, there are six signs that downsizing may be in your near future.
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 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…