RFA Mortgages Powell River

RFA Mortgages in Powell River

We are proud to partner with RFA Mortgages to bring tailored mortgage solutions to clients in Powell River. RFA offers a wide range of competitive lending options designed to meet the unique needs of homebuyers and homeowners. Here’s why RFA could be the perfect fit for your mortgage needs:

RFA Mortgage Solutions in Powell River

  • Purchase Plus Improvements:
    Found your dream home but it needs a little work? RFA’s Purchase Plus Improvements loan allows you to finance renovations up to 20% of the improved value of the home, with a maximum improvement loan of $40,000. Exceptions may be granted for higher amounts. Simply provide a contractor quote along with your accepted offer, and we’ll handle the submission for you. Once the work is complete, the funds are released to you through your lawyer.

  • New to Canada Program:
    RFA offers specialized programs for newcomers to Canada. Contact Jeremy today to learn more about the qualifying criteria and how this program can help you become a homeowner.

  • Stated Income Program for Self-Employed Clients:
    RFA provides options for self-employed clients, offering loans up to 90% loan-to-value (LTV) with Genworth insurance. The first 5% down payment must come from your own resources, with the remainder eligible to be gifted. To qualify, you’ll need:

    • Business financials and personal income tax returns.

    • A minimum of 2 years of self-employment history.
      If the loan doesn’t fit the insured program, RFA also offers uninsured loans up to 65% LTV. For these, all down payments must come from your own resources (no gifts or borrowed funds) and you’ll need 6 months of principal, interest, and tax payments in savings.

  • Flex Down Payment Program:
    Don’t have a down payment saved? RFA’s Flex Down program allows you to use a personal loan or line of credit to cover your 5% down payment. This is a great option for clients who are ready to buy but need help with upfront costs.

Convenience and Transparency with RFA Mortgages

  • Online Portal Access:
    RFA offers an easy-to-use online platform where you can:

    • View your mortgage balance.

    • Adjust payment frequency.

    • Increase payments or make prepayments instantly.

  • Prepayment Privileges:

    • 20% Lump Sum Payments: Pay up to 20% of your original mortgage balance annually on any regular payment date.

    • 20% Payment Increases: Increase your regular mortgage payments by up to 20% annually to pay off your balance faster.

  • 120-Day Rate Holds:
    RFA provides rate holds for purchases, refinances, or transfers for up to 120 days, giving you peace of mind while you shop for your home or explore options.

  • No Hidden Penalties:
    Unlike the big banks, RFA doesn’t use inflated posted rates, so there are no massive hidden penalties. At renewal, RFA offers you their best available rate—no need to negotiate with the bank for a better deal.

Why Choose RFA Mortgages?

RFA Mortgages is a comprehensive solution for clients in Powell River, offering not just mortgage products but also GIC investment options (registered, non-registered, and commercial) through nominee and self-directed dealer platforms. Whether you’re purchasing your first home, upgrading, or refinancing, RFA provides flexible and transparent options to make the process smooth and stress-free.

Let Us Handle the Hard Work for You

At Garth Financial, we specialize in finding the best mortgage solutions for our clients. Whether you’re interested in RFA’s competitive rates, flexible programs, or easy-to-use mortgage platform, we’ll guide you every step of the way.

Call Jeremy, your trusted Powell River Mortgage Broker, today to discuss your options or apply online now. Let us help you make your homeownership dreams a reality!