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Buying a home just got a lot quicker

Kash Toor, CEO of Mortgage Partners Corporation explains how buyers can keep up with the fast-moving housing market
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In today’s housing market, any hesitations can cause buyers to miss out on purchasing their dream homes. So far this year, the average days it takes to sell a home in the Toronto area is only six days. That does not give buyers much time to compare properties, consider options, or wait for slow mortgage approvals.

Today’s Market Requires Fast Financing

Since houses are on the market for such a short period of time, waiting for a slow mortgage approval can become a big problem. To avoid disappointment, many buyers are opting to work with mortgage brokers like the team at Mortgage Partners to secure faster mortgage approvals.

“Due to the current real estate market, clients require approval quickly, so we have expanded our lending services to accommodate rush closings,” says Kash Toor, CEO and founder of Mortgage Partners Corporation.

Since mortgage brokers work with a number of different types of lenders, they don’t necessarily need to follow the stringent application rules that the big banks require. In order to speed up the mortgage approval process, mortgages can be funded in a very short period of time with less paperwork.

“We can now fund fully open mortgages within 24 hours. These deals do not require appraisals,” explains Kash. “All we would require are a firm agreement of sale and proof of deposit or down payment.”

Quick Mortgages Can Still Be Flexible

Just because a mortgage is approved in a short period of time does not mean that the terms are restrictive. “Our loans are fully open and terms are flexible based on the borrower’s needs,” says Kash.

This is possible because mortgage brokers like Kash and his team have access to a wide range of mortgage products and mortgage rates that aren’t generally available through traditional banks.

Mortgage Brokers Can Offer Options

In a housing market that seems to change daily, mortgage brokers are well-situated to offer their clients the fast mortgage approvals that are needed to buy a home. Anyone who is looking for a mortgage or has run into roadblocks along the way should speak with a mortgage broker to learn more about their options.

For more information about short turnaround mortgages or any other mortgage products, visit Kash and his team online or call 1-800-571-4996. Mortgage Partners Corporation serves south Simcoe, Vaghan, New Market, Richmond Hill, North York, and the GTA.