Mortgages
How it works:
How does this work?
Spring Mortgage Group provides equity based financing. There are quite a few different products we have available (mortgage, home loan, line of credit, etc,), but what we suggest is going to be different for each client’s unique situation. The process often starts with a phone call or email conversation to figure out how we can best help, and which option is best for you. Once an option is agreed on, we will finish your application entirely over the web (no face to face needed!) and send your file out for quotes. If you like the quotes that come back from the lender, we set up the approval and funding for you all from the comfort of your home!
What rates do you offer?
Since we operate as a brokerage, we have access to some of the absolute best rates in the industry. We can leverage our network of over 40 chartered banks, mortgage lenders & other institutions (including familiar names such as Scotiabank and TD) as we work to find you the best offer for your situation. Rates are changing day to day based off the Bank of Canada prime rate and many other factors, but talking to an associate to get a quote is completely free. Once you apply on our site here, an associate will work directly with you and give you an accurate picture of what’s possible.
Do you charge lending fees?
In most instances, we are paid by the financial institution providing the mortgage at no cost to yourself. Depending on the situation however, a fee may be charged to the client. Anytime this happens, it is disclosed before signing any documentation and charged only upon completion of the transaction, from the proceeds of the mortgage.
Do you work with poor credit files?
Yes! Many of our clients have either been out of work or have bruised credit. In these cases, we will leverage our relationship to try to get you approved now with one of our 40 lenders and investors to help you. We even have options to help you reduce the payment to make everything more manageable for you. Once we’ve done this over a 1-2 year term, we aim to get you approved through our bigger lending partners with a regular prime mortgage! Reach out to us and we’ll be happy to go over specific.
What provinces do you work in?
We are licensed to operate in British Columbia, Alberta and Ontario.
How long does it take?
In mortgages, more than most other industries, each individual’s situation is very unique. This means there is large variance in the timeframe of each transaction. We work diligently to fund each file as quickly as possible. Each associate will aim to have your mortgage completed in less than the industry standard of one month. Generally, we are looking at 3–5 weeks assuming you are able to provide all required documentation. In the past, we have funded files in as short as 3 days depending on the situation.
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