Specialty Mortgage Products

Specialty Mortgages

Alberta Equity Specialty Mortgage Products

Providing customized financing options that meet your needs

Alberta Equity knows that every property purchase is unique. That is why we work with you and the lender to create a financing package that will fulfill all of your objectives. This includes offering a host of specialty mortgages, a variety of which are outlined below.

Whether you require financing for a brief duration, need extra financing for urgent repairs or remodels, or own your company, Alberta Equity can find the mortgage product that fits your circumstances. For more information, inquire within.

Blended Mortgage

Blended Mortgage

People often choose to blend their mortgage to take advantage of current rate trends without paying costs or fees associated with financing changes. Most mortgage lenders offer the option to blend your exisiting mortgage and Alberta Equity professionals have the information and resources at their fingertips to assist you.

Blended Mortgages can:

  • Reduce monthly mortgage payment costs
  • Eliminate the penalty costs that are often charged with new financing
  • Speed up the process as you do not need to switch lenders or re-qualify
  • Learn more about Blended Mortgages
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Cash Back Mortgage

Cash Back Mortgage

Cash Back Mortgages are common in Alberta for refinancing or purchasing a home and can provide a convenient injection of money from the lender to the borrower for different uses. Alberta Equity has the best Cash Back options available.

Cash Back Mortgages offer:

  • Money to pay for closing costs, new furniture, renovations on the home, etc.
  • No repayment of the cash back if the mortgage term isn't changed during the 3-year or 5-year term
  • Various terms
  • Cash amounts ranging from three to five per cent of the mortgage loan amount
  • Only available to Canadians
  • Learn more about Cash Back Mortgages
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Interest Only

Interest Only Mortgages

Interest only mortgages, or Home Equity Line of Credits, are an excellent choice for property owners wishing to utilize the financing they may draw on their property while paying minimal monthly interest rates based on the current prime.

Interest only mortgages can usually be converted into blended payment products at any time, allowing you to select an amortization length in which the loan will be paid in full.

For property owners who opt for the HELOC, funds may be re-advanced and paid down with no penalties or time constraints imposed, at the discretion of the borrower. Though interest is typically compounded monthly, interest only payments still usually afford less monthly expenditure than a standard loan product.

Interest Only Mortgages:

  • Can allow access to financing at a low monthly interest rate.
  • Can keep monthly expenditures low for short-term gaps or when waiting for expected finances to come in.
  • May be converted to fixed balanced payments when you decide.
  • Learn more about Interest Only Mortgages
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Low Doc Mortgage

Low Documentation Mortgages

Are you self-employed? There are more financing options available today then ever before for business owners. The lenders that we work with offer products that don’t require a ton of paperwork to prove your income. Alberta Equity Mortgages can put together a mortgage to fit almost any income and credit status – regardless of how consumers earn a living!

Low Documentation "Loc Doc" Mortgages are:

  • Specifically designed for all business owners, contractors, consultants and commission sales people
  • Authorized with a high credit rating
  • finance up to 90 per cent of your property value
  • Provided with no more proof of income issues
  • Available on all property types and in all areas in Canada
  • Learn more about Low Doc Mortgages
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No Frills Mortgage

No Frills Mortgage

No Frills Mortgages are basic, simple mortgage terms without any prepayment options or allowances of any kind. These mortgages are available coast-to-coast and should be researched thoroughly. Alberta Equity Mortgage Brokers are well versed on the topic of No Frills Mortgage and regular mortgages. We can advise and assist you with your mortgage decision.

No Frills Mortgages have the following restrictions, but the mortgage qualification process is simple:

  • No prepayments are allowed for the life of the term
  • The term cannot be cancelled or prepaid prior to the maturity date
  • The mortgage cannot be refinanced
  • Only 5-year terms are offered
  • Rate has greater discount than most 5-year terms in Canada
  • Learn more about No Frills Mortgages
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2nd Home Mortgages

Second Home Mortgages

A second home mortgage allows you to purchase alternative property to use toward a host of objectives. Whether it be a vacation cottage abroad, a rental property, or a dwelling for your children while they’re away at school, second home financing opens the doors to a promising investment and rewarding property opportunity.

Second Home Mortgages:

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Home Reno

Home Renovation Loans

Home renovation financing can fund nearly any home projects we envision taking place on our property. With some of the equity you have amassed in your home, you may update its features, improve its value before listing it, repair damages and wear, or increase its functionality to accommodate the changing needs of you and your family.

Home Renovation Financing allow you to:

  • Develop a basement into a rental suite for revenue potential, into a den for the kids, a cozy home theatre, or the creative workspace you have always wanted.
  • Update the intrinsic features of your home for safety and energy efficiency. This can include new window installation, furnace replacement, piping overhauls, or even solar panels.
  • Manifest your dream kitchen or washroom.
  • Replace laminate or dated carpeting with hardwood flooring.
  • Re-landscape your backyard.
  • Build a garage.
  • Learn more about Home Renovation Loans
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* Note: Posted rates are for residential mortgages only. Commercial mortgage rates will differ.