Offering solutions for Residential and Commercial Real Estate

RESIDENTIAL LENDING

A residential mortgage is a loan designed to help borrowers purchase a residential property to which they will live in. In a residential mortgage agreement, the borrower is required to put the property up as collateral in exchange for the loan from the lender. If the borrower cannot maintain the monthly payments, the lender has the power to seize the house and sell it to repay the debt.

Our residential mortgage solutions are designed with your needs in mind, offering competitive rates, flexible terms, and ahassle-free application process. Whether you’re a first-timehomebuyer, looking to upgrade to your forever home, or seeking to refinance, our team is hereto guide you every step of the way. We understand that every homeowner is unique, which is why we take the time to tailor our mortgage options to fit your specific goals and financial situation. With Uptown Financial, you’re not just getting a mortgage; you’re getting a trusted partner committed to helping you secure your future.

RESIDENTIAL LENDING Solutions

Second Mortgage

Traditional banks can be intimidating with their approval process and many Canadians have shared the discouraging experience of being turned down. At Uptown, we aim to offer you an immediate and practical solution,

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saying yes when others may have said no.
Consider a second mortgage — a favored option allowing you to tap into your home equity for additional funds. These funds can be used as you wish but most often utilized to consolidate troublesome debt, offering homeowners an opportunity to rebuild their credit. Your equity, your choice — put it to work for you!

Self–Employed Mortgage

You have ditched the 9-5 career and now pursuing your dream of being an entrepreneur. When you are self-employed, getting a traditional mortgage can be more difficult due

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to more requirements you must meet to qualify.
At Uptown, we take into consideration your unique financial situation and offer more flexible options. Banks will only lend you up to 65% of your home’s value and focus on your gross income. A self-employed mortgage through Uptown can offer you a higher loan to value with the possibility of a lower interest rate. We understand that income is not always easy to prove but we take this into account and find a solution.

Home Equity Loans

Dealing with those persistent calls from creditors? Kids going off to university? Basement had a flood? You may need an easy way to access funds when expenses start creeping up. Uptown’s home equity loan or

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line of credit can provide you with that financial relief. Designed to help manage your finances while making life stress free.
At Uptown, we offer fast, accessible cash, even when your credit score is low. Our lending rates are often lower than your traditional bank saving you money in the long run. Whether you are looking to consolidate higher interest rate debt, tackle home repairs, or maximize your investments, remember it’s your equity, your money, and your choice.
Consider a second mortgage—a favored option allowing you to tap into your home equity for additional funds. These funds can be used as you wish but most often utilized to consolidate troublesome debt, offering homeowners an opportunity to rebuild their credit. Your equity, your choice—put it to work for you!

Private Mortgages

Are you looking to purchase property or need refinancing but struggling with the financial institutions strict guidelines on lending money? When banks are not willing to help you, getting a private mortgage can

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sometimes be the only solution. Uptown offers hassle-free private mortgages with many alternative financing options.
At Uptown, we believe that everyone deserves a financial solution that will help them with their specific needs. Our lending requirements are more relaxed and focused on the value of the property being mortgaged. With our quick approval process and access to funds immediately, let Uptown be your first choice to secure the funds you need.

Mortgage Arrears

When you have missed one or more regularly scheduled mortgage payments, you are now considered in arrears. This could mean facing foreclosure or power of sale which is a serious threat to your home and

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family. Struggling with mortgage debt can be stressful and it can be hard to know where to start. Let Uptown help you explore your options and assist you in managing your mortgage payments before legal action is taken. Start with us, we are your mortgage arrears solution.
At Uptown, you are not just a client, you are family. We want to be there for you during the hard times and are willing to work out options that will keep you in your home. Regardless of the reason for your arrears, it is important to take action as soon as possible and explain your situation to the lender. Let’s do this together-don’t panic or delay.

Mortgage Switch/Renewal

When your current mortgage is up for renewal, you have several decisions to make-the most important being whether you stay with your current lender or switch to a new one.

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Statistics reveal that many mortgage holders don’t explore other options, even when better deals exist. This is not ideal and potentially leads to higher interest rates and regrettable terms.
At Uptown, we make switching the smart choice by providing you flexibility with mortgage terms thus avoiding payments that strain your lifestyle. We have access to multiple lenders and will shop around to find the ultimate mortgage product for your specific needs. If your current lender is not offering you the best mortgage renewal agreement to stay, it’s time to say goodbye. Make the switch and take advantage of the best possible options that will impact your long-term financial goals.
At Uptown, you are not just a client, you are family. We want to be there for you during the hard times and are willing to work out options that will keep you in your home. Regardless of the reason for your arrears, it is important to take action as soon as possible and explain your situation to the lender. Let’s do this together-don’t panic or delay.

What We Assess for a
Residential Mortgage Loan

Employment: We evaluate your employment status to understand the stability and consistency of your income source.

Income: We examine your income level to determine if it meets the requirements for the mortgage you’re seeking.

Credit score: Your credit score indicates your creditworthiness and helps us understand your borrowing history.

Expenses: We review your monthly expenses to ensure you have enough disposable income to cover mortgage payments.

Assets and liabilities: We examine your assets (e.g., savings, investments) and liabilities (e.g., debts) to understand your overall financial situation.

Down payment: We consider the size of your down payment, as it influences the loan amount and terms you qualify for.

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Receive your Funds

Funds are deposited into your account.

Residential Lending FAQ’s

The required down payment varies depending on factors such as the type of mortgage you’re applying for and the lender’s requirements.

Typically, you’ll need to put down at least 5% of the total property cost to qualify for a mortgage. If your down payment is less than 20%, mortgage insurance will be necessary.

Your mortgage advisor can provide personalized guidance based on your financial situation and the specific home you’re interested in purchasing.

The mortgage approval process involves several steps. First, you’ll complete a mortgage application and provide documentation, including proof of income, assets, and liabilities. The lender will then review your application and assess your creditworthiness, employment history, and financial situation. Second, if your application meets the lender’s criteria, you’ll receive a preapproval or conditional approval letter, indicating the loan amount and terms you qualify for.

Once you find a suitable property and the lender completes a property appraisal and title search, you’ll proceed to final loan approval and closing. It’s essential to work closely with your mortgage advisor throughout the process to ensure a smooth transaction.

One of the most common elements evaluated by a mortgage lender is your credit history/credit score. It is important to maintain this if you want to qualify for a mortgage with a low interest rate.  Another key factor is the size of your down payment. Typically, lenders will offer a lower interest rate with larger down payments.

Lenders will want to review your income to ensure you will be able to make your mortgage payments on time.  Other factors include your employment status, debt-to-income ratio, and your assets/liabilities.

Commercial Lending

Commercial mortgage loans are used to secure any land or property for commercial purposes. They can also be used to develop existing or new commercial property. Unlock the potential of your business with Uptown Financial, your trusted partner in commercial mortgages.

We understand that every enterprise is unique, and that’s why our commercial mortgage solutions are as diverse as your ambitions. Whether you are expanding your operations, acquiring new properties, or refinancing your current assets, our team of experts are here to provide tailored financing options that suit your business needs.

With competitive rates, flexible terms, and a commitment to simplifying the lending process, we empower you to make strategic real estate decisions that drive your success. Take the next step towards your business goals–Your success story starts with a commercial mortgage from Uptown Financial.

Commercial LENDING Solutions

Line of Credit

Secure flexible funding with a commercial line of credit tailored to your business needs. Access funds as needed to support day-to-day operations, manage cash flow, or seize new opportunities without

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the hassle of traditional loan

Commercial Term Loans

Grow your business with long-term financing solutions through commercial term loans. Whether you’re expanding operations, investing in new equipment, or launching a new

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product line, our term loans offer competitive rates and structured repayment plans to support your business goals.

Commercial Mortgages

Unlock the potential of commercial real estate with tailored mortgage solutions. Whether you’re purchasing, refinancing, or renovating, our commercial mortgage options

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provide the capital you need to achieve your real estate objectives.

Capital Leases

Acquire essential equipment or machinery with ease through capital leases. Enjoy the benefits of asset ownership without the upfront costs, as well as flexible lease terms designed to align with your

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business’s cash flow and operational needs.

Commercial Acquisition Financing

Seize growth opportunities with confidence through commercial acquisition financing. Whether you’re acquiring a new business or expanding your existing operations,

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our financing solutions provide the capital and support you need to execute successful acquisitions.

Commercial Refinancing

Optimize your business’s financial position with commercial refinancing solutions. Lower your interest rates, extend your repayment terms, or access equity in your existing assets

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to free up capital for growth initiatives or debt consolidation.

What We Assess for a
Commercial Mortgage Loan

Property Type: We assess various property types for commercial mortgage loans, including office buildings, retail spaces, industrial facilities, multifamily residences, and mixed-use developments. We tailor our financing solutions to meet the unique needs of each property type, ensuring optimal investment outcomes.

Property Condition: When assessing commercial mortgage loans, we consider the property’s condition. Whether the property is in turnkey condition or requires renovation or redevelopment, we offer financing options that accommodate various property conditions, supporting your investment objectives.

Purchase Price or Appraised Value: We evaluate both the purchase price and appraised value of commercial properties to determine suitable loan-to-value ratios. By considering these factors, we aim to provide financing solutions that align with the property’s value while meeting your financing needs effectively.

Debt Service Coverage Ratio and Information on the Loan Sponsors: We assess the debt service coverage ratio (DSCR) to evaluate the property’s ability to generate sufficient cash flow to cover debt obligations. Additionally, we gather information on loan sponsors to understand their financial strength, experience, and commitment to the project, ensuring a successful lending partnership.

Property Location: We carefully evaluate the location of commercial properties when considering mortgage loans. Whether situated in urban centers, suburban areas, or rural landscapes, we analyze factors such as market demand, accessibility, and economic trends to provide financing solutions that maximize the property’s potential and value.

Property Zoning: Understanding property zoning regulations is essential in commercial real estate financing. Our lending experts are knowledgeable with all zoning requirements and provide guidance to ensure compliance, thereby optimizing the property’s potential and mitigating risks.

Requested Mortgage Amount and Purpose of Funds: We work closely with clients to understand their financing requirements and objectives. Whether funds are needed for property acquisition, construction, renovation, or working capital, we offer customized mortgage solutions tailored to your specific needs and investment goals.

Commercial Mortgage Loan Process:
Where shouldyou start?

Uptown’s 4-Step Process:

Application

Underwriting

Approval And
Commitment

Closing

Uptown’s Commercial Mortgage Loans will empower business borrowers to develop and thrive for success. With a diverse array of lending choices and ample access to capital, we deliver financing solutions that align with your business goals. Our team is comprised of industry experts who are passionate and dedicated to guiding you through each stage of the process, ensuring your success.

Get Started

Contact us today and let’s explore the
opportunities together!

Commercial Lending FAQ’s

The required down payment for a commercial mortgage varies based on factors like the property type and lender’s criteria. Generally, a larger down payment is expected compared to residential mortgages. Our team can provide guidance on the minimum down payment required for your specific financing needs.

Alongside the principal and interest payments, additional fees may apply with a commercial mortgage. These may include appraisal fees, legal fees, property insurance, and loan origination fees. Our experts will outline all potential fees upfront to ensure transparency throughout the financing process.

The maximum loan amount you can borrow with a commercial mortgage depends on various factors, including the property’s value, income potential, and borrower qualifications. Our team will assess your financial situation and property details to determine the maximum loan amount available to you.

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