flash financial

We help Canadian homeowners live retirement their way

At Flash Financial, we will find the perfect lending solution for you.

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The enhanced equity in your home can be used to get a loan through a ‘reverse mortgage, available only to seniors (55+).

The CHIP program is designed for Canadian homeowners age 55 years and older who want to live retirement on their terms.

If you’re like most Canadian homeowners 55+, much of what you own fits into two categories – the equity in your home and the money you have saved. It is likely that the value of your home has grown over the years and makes up a large portion of your net worth. While it is positive that your home has built value – this value is not accessible unless you decide to sell your home.

The CHIP Program allows you to access up to 55% of its value without having to sell your beloved home. And best of all, you don’t have to make regular mortgage payments until you eventually move or sell.

Additionally, the money you borrow is tax-free and it does not affect the Old-Age Security or Guaranteed Income Supplement (GIS) benefits you may be getting. As the homeowner, you are required to maintain your home and remain current on property taxes and homeowners’ insurance.

To recap, the CHIP plan is suitable for people who don’t want to move but would like to improve their monthly cash flow. With the CHIP Mortgage, you always remain on title and retain ownership and control of your home.

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Feel settled faster - let us help you buy your first home in Canada

New to Canada Mortgage

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Canada welcomes buyers from anywhere in the world, and there are no restrictions on the types of properties people can buy.

Canadian non-resident mortgage financing options are available through most banks and other
institutional lenders as well as private mortgage lenders. For the most part, the process for
securing a mortgage for someone who is a non-resident of Canada, but wants to secure a mortgage
against Canadian property they own is very similar to what a Canadian citizen would go through for a
residential home mortgage with a few key differences.

WHY NEWCOMERS LOVE OUR MORTGAGES

For many newcomers, buying a home in Canada is an important step towards feeling settled.
Whether it’s competitive financing or advice to help you find the perfect neighbourhood,
we can help make your homeownership dreams come true.

  • No Canadian credit history requiredYou may be able to qualify for a mortgage with little to no credit history.
  • Fast, easy approvals and solutions for newcomersOur new to Canada solutions simplify the process of buying a home in a different country.
  • Competitive rates and a 120-day rate guaranteeWe honour quoted rates for 120 days. If rates go down, you get the lowest rate available.
  • Take up to 30 years to repay your mortgageIf you have a down payment of at least 20%, you can take up to 30 years to repay your loan.
Non-residents buying in Canada may be eligible if the applicant is:
  • Considered an acceptable credit risk
  • Has a bankers reference/recommendation letter from their country of origin or international credit bureau
  • Standard confirmation of income
  • Verification of assets
  • Satisfactory property appraisal

Mortgage solutions designed just for you

SELF-EMPLOYED MORTGAGES

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If you are self-employed, you know the challenges of getting approved for a mortgage through most of the major banks.

Are you self-employed and finding it difficult to arrange competitively-priced mortgage financing for your home?

There are plenty of benefits to being self-employed. While it takes hard work and determination,
the pay-off will be worth it in the end! Flash Financial can find you an ideal mortgage whether
you are a business owner or self-employed. We can help you finance your new home or leverage the
equity in your existing home.

If you’re planning to buy a house in the midst of building your business, there are some things you should know.
Applying for a mortgage while self-employed can be difficult, but we can help. Here’s what you need to know.

KEY TAKEAWAYS

For many newcomers, buying a home in Canada is an important step towards feeling settled.
Whether it’s competitive financing or advice to help you find the perfect neighbourhood,
we can help make your homeownership dreams come true.

  • Getting a loan while self-employed may require paying higher interest rates, as lenders look to compensate for
    the lack of verifiable, steady income.
  • Problems that self-employed individuals run into when trying to get a loan is that they use
    business expenses to reduce taxable income.
  • Stated income/equity mortgages are loans based on what a borrower claims as their income.
  • With no documentation loans, lenders don’t verify any income information, but the interest rate is usually
    higher than other types of mortgages.
  • Self-employed borrowers can improve their prospects by increasing their credit score,
    offering a larger down payment, or paying down debt, among others.

Building your own house (construction loan)

CONSTRUCTION MORTGAGES

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Construction & Commercial mortgage loans through banks are more difficult and have a lot more moving parts than typical home purchases or refinances.

Many Canadians are choosing to build custom houses with special features to suit their lifestyles and
personal tastes. While building your own house can be a creative and exciting experience,
it can also present some complicated financial challenges.

A construction loan (also known as a “self-build loan”) is a short-term loan used to
finance the building of a home or another real estate project. The builder or home buyer takes out a
construction loan to cover the costs of the project before obtaining long-term funding

KEY TAKEAWAYS

For many newcomers, buying a home in Canada is an important step towards feeling settled.
Whether it’s competitive financing or advice to help you find the perfect neighbourhood,
we can help make your homeownership dreams come true.

  • The Lender Needs Detailed Descriptions
  • A Qualified Builder
  • A Down Payment of Minimum 25%
  • Proof of Your Ability to Repay Loan
  • The Property Value Must Be Appraised.

Be it single-family home construction financing, multi-family townhouse,
and condo project financing or a multi-million-dollar financing project,
Flash Financial is there to offer you the finances you require as per your need.