Recently Right Mortgage which is trademarked by Mortgage Alliance switched underwriting lenders from Macquarie Financial to Paradigm Quest. Macquarie Financial, an Australian lender announced that after 4 years they were leaving the broker channel market. With over $4 billion in loans funded with Right Mortgage, 6 different companies were willing to step in. The choice of Paradigm Quest was one based on a prior relationship of trust and experience. July 29th, 2011 was supposed to be the official transfer.
With a new lender come some changes. One major one is products for Business for Self applicants with stated income. This Alt-A product will allow business owners access to the flexibility and customization of Right Mortgage. Being one of the most popular products offered byMortgage Alliance, the Right Mortgage allows borrowers to choose between payment options, amortization, skip payment options, etc instead of a one product fits all approach. Based on which features the clients choose, the interest rate is then calculated. While Right Mortgage offers some amazing rates that are competitive with some of the lowest industry rates, its focus is on the individual applicant. Currently all Right Mortgage applications have a 20% pre payment option. Other Right Mortgage products :
– Standard Purchase & Refinance
– Refinance Program – offering $500 cash back or No-Fee Refinance through FCT
– Switch / Transfer
– Business For Self ALT A Stated Income
– Welcome To Canada
– Investment / Rental
Right Mortgage is exclusive to Mortgage Alliance so to find out more about this great product give me a call at 416 909 5044.