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faq

FREQUENTLY ASKED QUESTIONS

Here are the answers to some questions that our clients frequently ask about alternative mortgage financing. If you have any other questions, feel free to ask us!

How long before I receive the cash?

If we can quickly obtain all the answers to our questions, we are able to provide you with a loan agreement and a letter of commitment within 48 hours of you calling us or applying online. Afterwards, we will quickly sign the mortgage loan in the days that follow. Usually, clients can receive the funds requested in 3 to 5 business days following initial contact.

Do I have to provide you with my federal and provincial notices of assessment?

No. At Financière Marcom, financing criteria are based mainly on the net value of your property. We therefore don’t need your notices of assessment to grant you mortgage financing. We can provide you with financing even if you owe money to various levels of government.

Can I still obtain a loan if I received a 60-day notice from my current lender?

Yes, but you have to act fast. So long as no final decisions have been rendered against you in court, we can still help you. With our expertise in the area, we can even help you sort out the situation.

Why must I choose an alternative secondary mortgage?

Secondary mortgages are very advantageous if you have sufficient equity in your property, as it allow you to avoid penalties for breaching the contract prior to its expiry.

Have you ever seized a client’s property?

Contrary to the majority of private lenders, Financière Marcom is proud to say that it has never seized a client’s property. We always make sure that our mortgage financing offer suits and corresponds to our client’s financial capacity. When things don’t go as planned, we are always open to find a solution that everyone is happy with. That is one of the reasons why more than 75% of our clients have been referred to us.

Does Financière Marcom act as a broker?

No. Financière Marcom is a private mortgage financing company that manages its own investment capital. We are open to external referrals, but we deal directly with you. There is no middleman.

What loan-to-value ratio do you finance at?

Each application is different, and it depends on the acceptance criteria and conditions, but we can confirm that we generally finance up to 75% of the market value of your property.

Do you need a property appraisal report?

Yes, although the municipal assessment can be sufficient in some situations if the borrowing ratio is less than 60% of the market value shown in your tax account. However, if a chartered appraisal is required, it will be performed by one of our chartered appraisers with your permission and at your expense.

Can I choose the notary when obtaining mortgage financing from you?

No. You must use one of our notaries to obtain the financing disbursement that we grant. But we can assure you that our notaries’ fees are less than what you would pay elsewhere due to the high number of transactions that we complete each year.

Do you offer personal loans?

No. We offer only loans secured by a land or chattel mortgage, for example, a fixed mobile home.