Soltron Financial is a direct lender; we can offer fast approvals and flexible terms, all in a low stress environment.

Everyone has different needs, and different goals. Fixed or Adjustable, Open or Closed, Soltron Financial can help you to build a mortgage that suits your needs to balance costs and risks.

Absolutely! Keeping current with your mortgage payments will help you to build up or even repair your credit history. It will show future lenders that you are a responsible borrower.

Soltron Financial will not hold your credit history against you.

We charge a low 2% fee to cover our costs.  Half is payable once we have agreed on terms, and half on dispersing funds.
Notarial fees are always the responsibility of the borrower, though they can be included in the mortgage. In some cases we will require the services of an outside assessor. Those costs will be the responsibility of applicant.

Our rates over the past year have been between 11-15%.  We asses each file individually and set a rate based on our perception of the risk involved.

No – Soltron Financial recognizes the many situations where good borrowers may look risky by traditional standards. We are eager to fill the gap that traditional banks leave empty.

Yes – Our rates are far lower than average credit cards or other forms of unsecured consumer debt. You can mortgage spare equity in your home to cut payments and refinance.

A decision is made within two business days of you submitting your loan application.

After you have applied, or even received your loan, you might find you need different terms, or a different loan amount. Soltron Financial can at any point present you with options that you can switch to without derailing your loan.

In that case, both owners must sign the mortgage agreement.

Soltron Financial will consider any kind of property – Residential, Multi-Residential, Commercial, Mixed Commercial, Industrial, or Vacant.

Circumstances can vary greatly. Soltron Financial is a Direct Lender and can transfer money by any means available more quickly than traditional lenders. Often the whole process can be completed in less than a week.

Soltron Financial can provide a commitment letter to qualified borrowers.

We charge a low 2% fee to cover our costs.  Half is payable once we have agreed on terms, and half on dispersing funds.
Notarial fees are always the responsibility of the borrower, though they can be included in the mortgage.

Our mortgages are portable within the Montreal area and the Laurentians. Contact us to discuss options.

Yes.

The rate of a fixed rate mortgage is set when the loan is first made, and it does not change over time. Whatever rates do, after the mortgage is made, your payments stay the same. This is a very stable option that allows you to plan your payments exactly.
An adjustable-rate mortgage (ARM) changes as the Prime Rate changes – which can be as frequently as 8 times a year.  It is possible to save a lot of money in interest, especially over a long term mortgage, on an ARM

Closed mortgages usually carry the lowest rates, so if you are not planning to pay your mortgage off more quickly than planned this can be your best choice. Convertible mortgages act as closed mortgages, but can be converted to longer closed mortgages without penalty at any time. Open mortgages usually carry higher rates, but can be paid off more quickly than agreed with no penalties. Should you choose to increase payments, or pay off the mortgage in a lump-sum payment, you can do so at will. If you expect you finances to change in the future, this gives you the most flexibility.

If you have a fixed mortgage, rate changes will not have any effect on your payments.  If you have an adjustable rate mortgage, your payments will be adjusted to reflect the new rates based on the terms of the mortgage.