ALTERNATIVE MORTGAGE LENDER
WHAT WE DO FOR BORROWERS
Almarjoy has a diverse range of borrowers, many of whom have been traditionally underserviced and overcharged by financial institutions. Our borrowers range from home-buyers to small businesses and entrepreneurs, to recent immigrants or those with unusual credit histories or overseas/unorthodox assets, to home-builders, house-flippers and real estate developers.
Almarjoy offers bridge and short-term financing, construction and development loans, and longer-term facilities, matching our expertise to the needs of our borrowers.
Almarjoy manages legal, broker, appraisal and administrative costs to ensure that borrowers receive a fair deal.
Residential - We primarily lend to residential borrowers on single detached homes, semi-detached homes, stacked and traditional townhouses, cottages and condominiums. We lend in the Greater Toronto Area (GTA) and neighbouring cities, but routinely consider residential mortgages beyond that region. Almarjoy will exceptionally make residential loans outside of Ontario and across Canada.
Commercial - Almarjoy lends to commercial borrowers in the GTA.
KEY BORROWING FACTS
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Speed - Funds can be advanced to borrowers quickly, often in as fast as 3 to 4 business days. Unlike traditional bank lenders, Almarjoy is a lean business with a streamlined due diligence and decision making process.
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Fees - Almarjoy will only charge borrowers a mortgage commitment fee (which is a fixed percentage of the amount of the loan), and for legal fees incurred by Almarjoy in making the loan. No other fees will be charged to the borrower.
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Duration - Most of our loans are 9 to 18 months in duration at a fixed interest rate.
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Repayment of Loan - Borrowers usually repay our loans by monthly payments of interest-only, so as to keep their expenses lower.
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Mortgage Extension - If a borrower wishes to extend the duration of a loan, Almarjoy only charges a modest extension fee, instead of a percentage of the loan as many other lenders do.
