Frequently Asked Questions

Is an appraisal of my property required?
In many cases an appraisal is not required, however some exceptions do apply.
What is your interest rate?
Rates vary depending on many factors. Generally, 1st mortgages start at 3.99% and 2nd mortgages start at 5.99%. Contact us for more details.
What documentation is required to complete my application?
We require the following: • Personal Information o 2 Pieces of Government issued ID o VOID Cheque • Documents Related to the Refinance of a Mortgage o Current Mortgage Statement o Property Tax Statement • Documents Related to the Property and the sale of the Property o Listing Agreement o Purchase & Sale Agreement o SOLD MLS Listing of Property o Waivers / Notice of Fulfillments / Amendments (As applicable) o Current mortgage statement(s)
Do you require a credit check?
In some cases not, however exceptions do apply.
Are there restrictions on what I can use the loan for?
What is your minimum loan?
Is there a maximum amount that you will lend?
Financialworks considers all factors including loan amount and value of your property to determine maximum amount.
How does Financialworks get paid?
Financialworks Mortgage Corp. gets repaid a finder’s fee directly from our lending partners or by your lawyer upon your closing date. However if you chose to pay off your loan early there are no penalties for doing so.