Why helping to B/ B- borrowers to become home-owners makes so much sense!
His words?
"Our traditional business has been with those that the banks don't lend to ... could be business-for-self, self-employed, maybe a plumber or someone with a variety store, as well as NEW IMMIGRANTS to Canada who don't have a credit history; or people with a blemished credit history who are trying to improve it"
(Presenter) ... "We've seen nothing less than 20% profit growth since you've been in business in '98, and yet, we see investor weariness/ skepticism, for who you're lending to. Your comments?" ...
"What most investors don't see is that we do our lending in a VERY DISCIPLINED, CONSERVATIVE WAY, and this has resulted in the fifteenth (15th) consecutive quarter with increase in profits"
The results? ... Here are a couple of quotes fm the Globe Investor,
"Home Capital (Home Trust Bank) started out lending mainly to the Alt-A crowd ... rejects from the banks because they had unconventional sources of income (notably the self-employed)"
... and "For the nine months ended Sept. 30, Home Capital made $104-million on revenue of $368-million."
... and the fifteenth (15th) consecutive quarter with increase in profits"
Not something to sneeze at, right? ...Here are some links that you'll find interesting:
AND
So who do we work with? Our clients generally fall into one of the categories below. They may …
- be immigrants with professional & educational qualifications, but little credit hostory ...
- have a good income but lack an established credit history
- have a good income but have a poor credit rating
- be self employed
- be entrepreneurs
- have credit challenges due to past circumstances such as job loss, divorce, bankruptcy or health issues
- lack sufficient down payment at the outset
- be in consumer proposal
- have declared bankruptcy in the past
What we REALLY do…
While it would be easy to say we simply provide an opportunity for home ownership to individuals who might never otherwise get the chance, this does not really encompass the entire scope of what we do.
In reality, we are much more than that. We are a much needed lifeline to help those in our care re-establish themselves financially by investing in home ownership – one of the best vehicles that exists for building personal wealth.
And to guide our clients along this path, we remove the stumbling blocks that have prevented our clients from tapping into traditional financing.
We accomplish this by helping them ... - repair their credit
- establish a credit history
- create a mandatory savings program to help amass the down payment necessary to purchase that dream home at the end of their lease term
Visit here for more information: