What is a subsidized mortgage?

Subsidized mortgage payments can be arranged on a 1st mortgage or a 2nd mortgage and can be a terrific option if you have found yourself cash strapped or in need of immediate financial help. These types of mortgages are often appealing to clients who have suffered an injury and are receiving a limited income or by people who have had their hours at work reduced and can no longer afford to service a full payment.

In some instances, we can even arrange fully prepaid mortgages, for clients who have no income coming in and are waiting to go back to work or for a settlement of some kind from an insurer or employer. Many borrowers often consider this option when they plan to renovate and sell their home and don’t want the added pressure of an additional payment while they are waiting on their home to sell.