fundings
fundings
Funded Amount: $4,268,015
Type: Condo
Lender: Conventional
Location: Harrison Hot Springs, BC
Loan-to-Value (LTV): 60%
remaining unit acquisition
The client retired early and already had a HELOC with the existing first lender. Additional capital was needed to support the next several years of retirement income because CPP and pension benefits had not yet been started. A reverse mortgage was reviewed but did not provide the most effective long-term solution.
The Problem
To help the client get ahead, we worked closely with the client's accountant and structured a second mortgage at a lower rate than alternative retirement financing options. The funds created additional retirement income while also allowing part of the proceeds to be invested, helping offset borrowing costs and improving overall financial efficiency.
The Solution
- Secured $580,000 of additional retirement capital
- Avoided a reverse mortgage structure
- Created several years of income support
- Used funds to invest and improve overall financial efficiency
- Allowed the client to retire with confidence and cash available
Outcome & Key Takeaways
Rather than creating financial pressure in retirement, the client created flexibility, stability, and peace of mind.
The client retired early and already had a HELOC with the existing first lender. Additional capital was needed to support the next several years of retirement income because CPP and pension benefits had not yet been started. A reverse mortgage was reviewed but did not provide the most effective long-term solution.
The Problem
To help the client get ahead, we worked closely with the client's accountant and structured a second mortgage at a lower rate than alternative retirement financing options.
The funds created additional retirement income while also allowing part of the proceeds to be invested, helping offset borrowing costs and improving overall financial efficiency.
The Solution
- Secured $580,000 of additional retirement capital
- Avoided a reverse mortgage structure
- Created several years of income support
- Used funds to invest and improve overall financial efficiency
- Allowed the client to retire with confidence and cash available
Outcome & Key Takeaways
Rather than creating financial pressure in retirement, the client created flexibility, stability, and peace of mind.
Funded Amount: $580,000
Type: Single Family Home
Lender: Private
Location: Delta, BC
Loan-to-Value (LTV): 60%
