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Residential Mortgages

When purchasing a home, it is important to consider a number of different things. Firstly, the cost of the house that you can afford considerably depends on your income.  You also need to take into account your monthly expenses and how much of a down payment you have saved.

Lastly, you will need to make sure you have enough funds to cover your closing costs.  The mortgage agents at UCC Mortgage Co. will take everything into consideration and find the mortgage option that is most suitable for your current and future financial situation.

Our business is mortgages and our goal is satisfying you. Building on our solid foundation of financial strength and industry experience, we deliver unparalleled solutions for all our customers with competitive rates and a variety of lenders to meet your financing needs.

Types of purchases that would benefit from a residential mortgage may include:

  • First-time homebuyers
  • New home purchases
  • New home construction
  • Draw mortgage
  • Rental properties
  • Vacation homes
  • Second homes
  • Mobile homes

Commercial Mortgages

If you are a small business owner looking for mortgage options, you may already know about many of the drawbacks involved in trying to obtain a commercial mortgage.  Many small business owners think that a bank is the only place you can acquire financing for your business, which is simply untrue.

Our commercial mortgage agents specialize in developing flexible, innovative solutions with prompt approvals and exceptional customer service.  We offer competitive interest rates from a variety of banks and private lenders on a wide range of fixed rate, variable rate and interest only commercial mortgages.

We have access to several institutional lenders, such as local banks and credit unions, as well as alternative online lenders and private mortgage investors, who are often more flexible regarding their mortgage approval requirements for commercial mortgages.

Types of properties that would benefit from a commercial mortgage may include:

  • Multi-family units
  • Apartment buildings
  • Construction mortgages
  • Land development & servicing
  • Strip malls
  • Retail/office buildings
  • Warehouses
  • Factories
  • Multi-use residential

Private Mortgages

Many Canadians have heard of private mortgages, but have little knowledge of what they are or how they work.  Private mortgages usually have a higher interest rate due to the higher risk involved in the investment.  Most banks and institutional lenders typically need to satisfy strict mortgage lending criteria and are not willing to budge too far from the standard mortgage approval requirements and as a result, will deter from such transactions.

Private lenders on the other hand, are often willing to fund such mortgages based on the equity in the home and location of the property.  A private mortgage can also be an alternative solution that may protect a client from foreclosure on their home and may provide the homeowner the time needed to get their credit back on track.

Private mortgages don’t have to be taboo and we understand that sometimes you just need a leg up.  In most cases, private mortgage financing is a short-term solution that is used until it can be transferred to a more preferred institutional mortgage.

Reasons why you may need a private mortgage:

  • Bruised credit score
  • House is under power of sale
  • Large amount of property tax arrears
  • Recent discharge from a bankruptcy
  • Recent consumer proposal
  • Inability to prove sufficient income
  • Recently started new employment
  • Temporary job loss
  • Business for self

Farm / Agricultural

When searching for a mortgage for agricultural land, it is always important to talk to a mortgage broker to ensure that you are getting the appropriate mortgage for your situation.  Although there are many similarities between agricultural mortgages and consumer mortgages, agricultural mortgages are specifically designed to cater to the needs of rural landowners.

The majority of mortgage companies restrict the number of acres that they are willing to include in the appraised value of an agricultural property when they are considering providing a mortgage.  Currently, for qualified borrowers, our lenders may allow the residence, a garage, and up to 80 acres of farmland to be included when determining the value of the property. UCC Mortgage Co. is able to help provide farmers and agricultural businesses the necessary financing to successfully thrive and prosper.

Financing rural property with a standard consumer mortgage is one of the most common mistakes made by people purchasing farmland or land in rural areas.  Our qualified mortgage agents understand this, and will examine all options and connect you with the best lender, offering the best mortgage solutions.

We provide farm & agricultural financing for:

  • Operating capital
  • Equipment purchases
  • Farmland purchases
  • Land tiling & improvement
  • Equipment , feed & grain storage
  • Livestock buildings for beef, dairy, poultry, swine & equine
  • Greenhouses
  • Agri-business financing
  • Solar energy & wind energy projects

Vacant Land / Land Development

Whether you want to purchase vacant land as an investment, to develop it for housing, or for other future uses, many people choose to acquire a mortgage or loan to finance their vacant land purchase.  Acquiring a mortgage to purchase vacant land is usually a little more difficult, as this type of mortgage is usually accompanied with slightly higher interest rates and an increased down payment of 35-50%.  Vacant land financing options may include obtaining a home equity loan, credit line or refinancing your current mortgage to gain the required funds to purchase the land.

If you are interested in purchasing or developing vacant land and want to acquire a mortgage or loan to do so, the mortgage agents at UCC Mortgage Co., are readily available to help evaluate all of your financing options.

There are many factors involved in purchasing vacant land or land for development, some of which may change depending on individual circumstance, the amount of down payment available, the qualification criteria, and current interest rates.

Vacant land & land development financing may be used to ready property for:

  • Residential development projects
  • Self builds
  • Site servicing or infrastructure
  • Recreational centers
  • Golf courses
  • Industrial or factory sites
  • Parking lots
  • Retail development & malls
  • Casinos
  • Hotels or motels
  • Storage sites