Mortgages are of different types. Know more about popular mortgages.

1. Mortgage

2. What is Mortgage
A loan to finance the purchase of real estate, usually
with specified payment periods and interest rates. The
borrower (mortgagor) gives the lender (mortgagee) a
lien on the property as collateral for the loan.

3. Popular Mortgages
• Residential Mortgages
• Commercial Mortgages
• First Mortgages
• Second Mortgages
• Private Mortgages
• Fixed Rate Mortgages
• Variable Rate Mortgages (VRM) /
Adjustable Rate Mortgages (ARM)

4. Residential Mortgages
• If you have bad credit history
• If you have previously rejected by the bank
• If you have applied for bankruptcy in the
past

5. Commercial Mortgages
• Looking for funding to
start your first business
• Need financing for your
existing organization

6. First Mortgages
If you are a homeowner, you took out a loan to
pay for your house. That load, when taken out
from a bank or other lender to pay for a first
home, is called a first mortgage.

7. Second Mortgages
• Second mortgages are loans against the equity in your
home
• It’s simply another mortgage on your home
• Uses for second mortgages
- Home improvement
- Consolidating your debt
- Repaying mortgage and tax arrears

8. Private Mortgage
Alternative source of financing for borrowers
• Time is your concern
• You cannot wait for a long approval process
• You cannot qualify for a regular mortgage form a
bank or institutional lender
Private Mortgage may be the answer to your
situation.

9. Fixed Rate Mortgages
• Interest rate remains the same over the term of the mortgage

10. Variable Rate Mortgages
•Variable rate mortgage is convertible mortgage
•You can be converted to another term at any time
•It enables you to convert to a longer closed term should your
variable rate mortgage no longer meet your needs

11. If you have any question related to mortgage
please visit frequently asked questions
Contact Canadalend.com for Best mortgage
solution
FAQ

12. Thank You !