Kamloops Home Mortgages & Commercial Financing
Finding your best MORTGAGE is our business!
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We are an independently owned and operated finance brokerage located in Kamloops, BC with experienced professionals ready to provide financing and mortgages for your commercial and residential needs. We specialize in competitive funding for all mortgage and business needs, from property finance and development, to working capital solutions and invoice factoring. We can help you save time and money! Inquire today!
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Meet our team by clicking here.
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Come and see us first for a FREE no obligation consultation or apply online.
Mortgage FAQ's
Why should I use a mortgage broker?
Recently, people have been changing the way they get their mortgages. More and more people are now switching over from the banks and obtaining a mortgage or financing through mortgage brokers. Various lenders across the nation are now offering different options when it comes to mortgages. Consumers, with the help of mortgage brokers, have begun to seek alternative mortgages rather than simply taking what their bank or financial institution offers. Lenders are now in competition for your business and regularly offer discounted rates to entice brokers to deal with them on behalf of their clients. This gives consumers a perfect chance to select a mortgage that is perfect for them.
The main advantages in consulting a mortgage broker are as follows:
- Independent, unbiased, objective advice. Mortgage brokers provide mortgages from various lenders, so they're not tied to one lender or one type of mortgage.
- Mortgage choices. Mortgage brokers have direct access to virtually every major lender in
- Best-available rates. Mortgage brokers study rates daily and always know where to find the most competitive ones. Plus, they know how to negotiate with lenders to ensure you're getting the best available deal.
- Fast, convenient local service. Mortgage brokers are highly motivated to keep your mortgage moving forward quickly because, in most cases, they only get paid by the lender¡ªand only when your mortgage is complete.
- Specialized knowledge. As specialists, mortgage brokers have a thorough understanding of all available products, features and rates. And they will take the time to explain everything to you so you know exactly what you're getting into.
- Secure, established lenders. Mortgage brokers deal with the same reputable, established Canadian financial institutions you're used to.
More choices mean that Bava Financial can get you a custom mortgage which is specifically tailored to your needs.
How Do I Benefit From Using A Bava Financial Mortgage Broker?
Financial institutions sell only their own products to the public through their own sales force. Because of this, they are not able to provide unbiased advice or a wide assortment of financing options since by doing so they risk losing your mortgage to a company whose product may provide more value to you. Bava Financial on the other hand, can get you a variety of mortgage products and services as we deal with a wide assortment of lenders from all across
Here at Bava Financial we also negotiate on your behalf, structuring deals to meet the criteria of the lenders, and therefore getting you a mortgage solution that works for you.
Bava Financial simplifies and speeds up your mortgage application process. For example, when you deal directly with a financial institution and your mortgage is declined, for whatever reason, you must begin the application procedure all over again with another lender. When you deal with Bava Financial the application can quickly be passed on to another lender, or several other lenders, to be considered. Here at Bava Financial we work to turn your financial dreams into a reality.
What Fees Are Charged By A Mortgage Broker?
The vast majority of mortgage clients do not pay a fee for the services of a mortgage broker. This allows a broker to seek the mortgage rate and product that best suits the needs of the client and, in almost all cases, at no cost to the client.
In situations where traditional lenders will not approve a mortgage because of poor credit, and where the application must be placed with a private or non-traditional lender, a brokerage fee may be charged to the client. This cost must always be disclosed to the client up front and must be authorized in writing by the client before it can be charged.
Is My Application Secure Online?
Bava Financial keeps all of you private personal and financial information confidential and secure. This information is not sent to any lenders or third parties until we have your express consent.
A pre-approved mortgage provides an interest rate guarantee from a lender for a specified period of time (usually 60 to 120 days) and for a set amount of money. The pre-approval is calculated based on information provided by you and is generally subject to certain conditions being met before the mortgage is finalized. Conditions would usually be things like 'written employment and income confirmation' and 'down payment from your own resources', for example.
A home inspection is a visual examination of the property to determine the overall condition of the home. In the process, the inspector should be checking all major components (roofs, ceilings, walls, floors, foundations, crawl spaces, attics, retaining walls, etc.) and systems (electrical, heating, plumbing, drainage, exterior weather proofing, etc.). A written, detailed home inspection prior to purchase may indicate that the home needs major structural repairs which can be factored into your buying decision. A home inspection helps remove a number of variables and increases the likelihood of a successful buy.
What is a conventional mortgage?
A conventional mortgage is usually one where the down payment is equal to 20% or more of the purchase price, a loan to value (LTV) of or less than 80%, and does not normally require mortgage loan insurance.
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