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Interest-Only Mortgage

An interest-only mortgage is helpful for borrowers going through a tight cash flow for a temporary period.  For example, real estate investors who are buying and flipping property would benefit from this mortgage by focusing their budget on the redevelopment during the renovation period instead of paying down the mortgage principal amount. Most borrowers who take advantage of this alternative mortgage solution will switch to a conventional mortgage term at the end of the term so they can start paying down the principal mortgage amount.

A specialty mortgage product from alternative lenders allowing borrowers to pay only the interest portion of the mortgage throughout the entire Term.

There are a few things that borrowers would want to know more about this alternative mortgage solution. Contact your local mortgage broker or book a free consultation with one of ours for more details.

Improve Cash Flow

By paying only the interest portion of the loan throughout the Term, borrowers can reallocate their cash flow to other uses instead of paying down the principal mortgage amount.

Bruised Credit Not A Problem

Borrowers with bruised credit can qualify for this alternative mortgage solution as long as they have reasonable explanations and recourse for improving their credit score going forward.

Exit Strategy

Most borrowers who are using this alternative mortgage solution for flipping real estate properties will switch to a conventional P+I mortgage product at the end of the Term as their exit strategy.

Trusted Lenders

At Barrie Mortgage Broker, we work with lenders who are reputable and have established outstanding levels of customer service, integrity, and compliance with regulatory authorities.

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Justin W, Richmond Hill

As a first time home buyer I was very nervous about buying a home. The professional staff at Matrix Mortgage Global took the time to answer my questions even after hours. I was very pleased with the service and how I was treated.

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Jignesh S, Toronto

I'm a self-employed cab driver. I was devastated when my bank, with whom I've been banking with for years turned me down for a mortgage. My business is mainly cash, and I didn't meet the bank's criteria for proving my income. I found Matrix Mortgage Global online and decided to give them a call. I was surprised that I got approved. I thought that if my bank turned me down everyone would. Thanks!

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Andrea C, Markham

I had 2 yrs left on my consumer proposal, with the 2nd mortgage offer by Matrix Mortgage Global I was able to pay off the proposal and re-establish my credit

You Can and You Will Be Approved

Experience brings wisdom.

This is why you work with a 5X Broker of The Year.

Mortgage Approved

We have a history of total funded mortgages of over $2.3 billion since 2008 and counting.

Recognized by Authorities

RECA, FSRA, FSCO, BCFSA

Proven Track Record

Since est. 2008

Canadian Mortgage Brokerage

Serving City of Barrie, and neighbouring cities in Ontario.

Award-Winning Brokerage

2018-2022 Mortgage Brokerage Of the Year from Canadian Mortgage Awards

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You deserve a mortgage that is customized to you.

And there is a mortgage brokerage that believes that too.

One that has been helping clients get approved since 2008.

Over $2.3 billion of mortgage funded in history working with you.

Matrix Mortgage Global mortgage agents and brokers understand the significance of responsible borrowing and lending. Unfortunately, it was an expensive lesson many learned from the Global Financial Crisis in 2008 that happened because irresponsible mortgage lending qualifications were unchecked.

Enjoy the peace of mind from knowing that you are working with someone who has a deep understanding of the mortgage industry and will work smart to get you the best possible deal.

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Gain Access to Top Conventional and
Alternative Mortgage Lenders in Canada

Qualifying for a mortgage used to be easier than it is now.

But it doesn’t mean you can’t get professional help to qualify.

Reasonable mortgages are accessible to borrowers today.

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ALTERNATIVE MORTGAGE SOLUTIONS READING ARTICLES

Better Options with

Alternative mortgage solutions give borrowers more options and might be a better fit for those who don't meet the bank's standards.

 

These options might have higher interest rates or different terms, borrowers just have to take them into account and come up with an exit strategy that is affordable in the short and long term.

 

Work with the right lender for your situation, so you can get approved for the best mortgage.

A specialty mortgage product from a Tier-1 Bank in Ontario allows borrowers to get their deposit amount out of the property on the Closing Day.

A specialty product from alternative lenders allows borrowers to lower their mortgage payment amount by extending the amortization period, up to 40 years.

A specialty mortgage product from alternative lenders allowing borrowers to pay only the interest portion of the mortgage throughout the entire Term.

Don't settle for lenders who would only recognize up to 75% of the rental income to offset your debt-to-income ratio. Ask for 100% of the rental income to be qualified.

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