Our services

• Mortgage Refinance

  Like many others, you may be considering utilizing the equity you’ve built in your home to re-invest in your dreams or other necessary things.With mortgage refinances, you borrow additional money on your mortgage to utilize it on other essential items. It will also let you save more and assist you in consolidating your mortgages into one convenient payment.

  Here are some benefits of Mortgage Refinance:

  • Refinancing the current lease will allow you to avail of the reduced interest rate.
  • Refinancing lets you consolidate the multiple mortgages into one, with a fixed monthly interest rate and a lengthier repayment duration.
  • You can use the returns from your refinanced mortgage to pay off credit card bills and other similar taxes.

• Debt Consolidation

  Are you undergoing a high amount of debt with no solution in sight? Fear no more; all you need to do is consolidate your debt into a single loan with a lower interest rate. The process might sound simple, but it will require you to take on some expert help and work with a professional who will first assess your situation and provide a well-planned debt consolidation strategy.

  We can help:

  • To consolidate high-interest rate loans and credit card debts to a single debt with a lower interest rate.
  • To act on a plan that gets you out of debt faster.
  • To save more and improve cash flow.
  • To get access to the best available rates.
  • To get a lower monthly payment that will better fit your tight budget.

• Mortgage Pre-Approval

  A reasonable step to take before looking at homes is to make sure your mortgage financing is pre-approved and satisfies the price point. A mortgage pre-approval means you get approval for a specific purchase price and loan amount. When you hire us, we will establish all of this in a pre-approval consultation, eventually benefitting you by determining what you can afford and how much your mortgage payment will be.

  Some of the benefits to getting Mortgage Pre-Approval:

  • Helps better calculate your budget and affordability depending on your household income.
  • Precisely determines if you can qualify for those homes you have already been looking at.
  • Creates more substantial negotiating power for you and your realtor.

  We will assess your current credit score together with your income to make sure you can support your mortgage. Your pre-approval is usually valid for a specific period, such as 90 days, based on the lender.

• Mortgage Renewal and Transfer Services

  Mortgage Renewal doesn’t certainly mean that you need to renew it with the same lender. If you are not comfortable, you can always transfer your mortgage to another lender - one who gives the most security. Before accepting any offer, don’t skip consulting with your mortgage agent to avoid unwanted problems later.

  Here are some helpful Mortgage Renewal facts:

  • You are entitled to hire a mortgage broker who will assist you find the best mortgage rate and terms for your new loan.
  • As long as you have all your paperwork in place, a renewal will only take 3-5 business days.
  • Planning for renewal takes preparation. If you want to get the best rate, you have to look around at other mortgage rates and options about four months before your mortgage expiry date.

  At Riley Boychuk Mortgages, our Nelson Mortgage Broker will ensure that you get the most aggressive rate and terms at renewal time. So don’t wait till you get the renewal letter from your lender. Contact us today!

• Purchase Plus Improvement Mortgages

  This mortgage allows you to obtain the cost of renovations (up to a certain percentage) and adds it to the home price, moving it all into one easy-to-manage mortgage payment. Once you take ownership of your new home, you can start the upgrades instantly. This kind of mortgage comes with a few additional requirements before signing, such as presenting quotes for the work that needs to be completed.

  What does this mortgage do?

  • Competing interest rates apply.
  • The value of renovations is added to the home purchase cost, with mortgages possible up to 95% Loan-to-Value (LTV) or refinances up to 80% LTV.
  • Amortization for up to 30 years, based on the lender.

• Investment Property Mortgage

  Whether you’re obtaining a property for rental income or the future resale of the asset, or both, for Investment Property Mortgage, you’ll require at least a 20% down payment.

  Our expert at Riley Boychuk – Nelson Mortgage Broker can help sort through the details and draft flexible solutions that work for you. We access many lenders on your account, not just one, to find the right mortgage product for your situation.

  Investment property mortgage can:

  • Give options of fixed, variable and adjustable-rate mortgages
  • Provide competitive rates, though lenders may charge a small premium
  • Provide you up to 80% Loan-to-Value (LTV) for a 1-4 unit rental property
  • Offer extended amortizations up to 30 years

• Mortgage For Vacation and Second Home Properties

  Your life keeps getting hectic. And as your family expands, your needs are changing fast (more space for you or the children?). Whether you’re considering a second home closer to work to lessen that weekly commute, or a cottage at the lake for a shift of scenery, searching for the right mortgage fit at the best rate can make the difference. We can assist in making this happen.

  The second-home properties are broken into two categories:

  Second Homes

  • Single-family dwellings only, with the specifications of a typical home residence
  • Owned by the owners for a portion of the year or by a family member to live in rent-free
  • High ratio investment (as little as 5% down) available through Sagen and Canada Guaranty
  • Traditional mortgages (at least 20% down) follow a standard application policy.

  Recreational and Vacation Properties

  • Quality homes with year-round road access
  • Residential-standard water and septic arrangement, electrical and heating
  • Utilized for recreational purposes

• First Time Home Buyer Mortgage

  Purchasing a home is a huge commitment, and your mortgage could be the single most important financial choice you will ever make. Easing the process is what we do best at Riley Boychuk – Nelson Mortgage Broker. We will explain your options and advice financing solutions to get your mortgage accepted at the lowest rate and most flexible terms. We work with leading lending institutions daily and know their mortgage products and terms.

  Here are some tips on succeeding when buying your next home or selling your current one.

  • If you don’t have excess funds to finance your new house, the best choice is to sell your current property, thereby getting enough funds for your new home.
  • Should your current home not sell for the price you want or by the date of your purchase, do not rush. Get your next home first.

• Mortgages For Self Employed

  Are you self-employed and finding it tough to arrange competitively-priced mortgage financing for your home? Riley Boychuk – Nelson Mortgage Broker’s Self-Employed Mortgage solutions could be perfect for business owners or self-employed. We can assist you in financing your new home or leverage the equity in your existing home.

  Below are certain things you can do to increase your chances of getting a mortgage if you are self-employed:

  • Save more for a reasonable deposit or, if you are a homeowner, it will benefit in having a good amount of equity in your current property.
  • Have a good credit score
  • Evaluate your credit report and fix any issues.
  • Have a look at your accounts, and make sure they are up-to-date and in good order.
  • Get on the electoral roll.
  • Hire an accountant to create your self-employed accounts

• Home Equity Loans

  If you find yourself in a position where you require money for things like a home repair or buying a new car, as a homeowner if you have been paying off your mortgage on time, you can go for home equity to get a low-interest homeowner loan.

  A Home Equity Line Of Credit, or HELOC, is a kind of loan in which the borrower uses their home equity as collateral. Because you are utilizing an asset to secure the debt, the borrowed amount can be large, but your interest rate will be lower than credit cards or personal lines of credit.

  Here are some benefits of a Home Equity Loan:

  • It has lower interest rates compared to other loans. They usually come with a fixed interest rate.
  • It is one of the easiest ways to get a large sum of money in a short amount of time.
  • It is also helpful for the lender as they have a tangible asset they can repossess. If the borrower fails to pay the debt, the lender gets ownership of the house.

• Bad Credit Mortgages

  Have you ever questioned how to get a mortgage with bad credit? Or even if you can get a mortgage with bad credit? Riley Boychuk – Nelson Mortgage Broker aims to make it more comfortable for you to get a mortgage regardless of your credit score.

  We feel that it can be hard to find a lender willing to offer a mortgage in these circumstances, but with guidance from our advisors, you can get access to a potential mortgage with minimum fuss.

  Benefits of having a mortgage broker in case of bad credit:

  • They can ensure you don’t have more credit requests pile up on your credit file. When you speak directly to a bank, there’s a good chance you’ll make your credit history worse.
  • They are experienced in structuring and advising on the most suitable mortgage finance for your particular situation and needs.
  • They can help you repair your credit file so that you can be qualified for a home loan.

• First Responder Mortgages

  To all valued First Responders, we want to appreciate all you do to help Canadians in your community. From coast to coast, these are the people who put Canadians first and secure the health and safety of this great country – and we wanted to give you something in return.

  Exclusively available to First Responders, this program is designed to provide a helping hand on the journey to and throughout homeownership. This program is supported by one of Canada’s largest banks and offers the opportunity to benefit from competitive rates and cashback incentives, depending on your mortgage amount.

  Who is Eligible:

  • Police Officers
  • Paramedics
  • Registered Physicians
  • Registered Nurses
  • Firefighters (employed and volunteer)
  • Correctional Services
  • Border Services
  • Search & Rescue (employed and volunteer)

• Reverse Mortgages

  Every Canadian deserves a financially secure retirement. If you’re regarded as a senior homeowner, a reverse mortgage can ‘unlock’ the value in your home without having to sell or move, providing the funds to be used as you wish for your retirement.

  Our experienced brokers at Riley Boychuk – Nelson Mortgage Broker can help you decide if a reverse mortgage makes sense for your situation. We’ll understand your needs and go over the specifications and choices to make a clear choice.

  Some of the criteria to be eligible for a reverse mortgage?

  • You live in a major urban center in Canada (certain products are for certain provinces)
  • Your property is your principal residence, indicating you are there for at least six months of the calendar year.
  • Titleholders of the residency application as joint borrowers
  • You live in a detached or semi-detached home, condo or townhome
  • The youngest applicant is 55 years old

  We’re professional, friendly, and consistently available to ensure no one is left feeling stranded. Contact us today to learn more about our services.