×

HOW TO APPLY

1 Apply online.
2 Get approved.
3 Get your Money

If you still have problems, please let us know, by sending an email to info@financialsquare.ca . Thank you!

HOURS OF OPERATIONS

Mon-Fri 9:00AM - 6:00PM
Sat - 9:00AM-5:00PM
Sundays by appointment only!

GET APPROVED QUICKLY

REBUILD YOUR CREDIT USING YOUR HOME EQUITY

START YOUR LOAN APPLICATION NOW

YOUR DESERVE
BETTER

LET US PROVIDE YOU WITH THE FINANCIAL
FREEDOM YOU DESERVE

GET FUNDS IN 24 HOURS

GET APPROVED TODAY

PREV
NEXT

FINANCIAL SQUARE IS ONE OF CANADA’S LEADING NATIONAL MORTGAGE AND PRIVATE LENDING COMPANIES.

We take the hassle out of mortgages.

OUR SERVICES

A FINANCIAL SOLUTION FOR EVERY NEED AND EVERY STAGE

A ONE STOP SOLUTION FOR ALL HOMEOWNERS

Whether you want to renovate your home, or consolidate and simplify your debts, or expand and support your business – we can help you get the money you need to build a better tomorrow.

We will work tirelessly to ensure that a lender that meets your needs is found expeditiously. We cater to individuals with low credit scores who have multiple debts and require emergency funds. We even approve clients that have been declined by other financial institutions.

We would love the opportunity to assist you with your private mortgage needs. Call us today and a live agent shall help you right away.

We at Financial Square understand that sometimes one may fall behind on payments of credit cards, lines of credit and other financial products.

It is best to consolidate all the outstanding debts into one loan so that you can get rid of high interest credit cards and other consumer debts while paying a reduced amount.

Let us help you in this process of debt consolidation and get you started on your credit rehabilitation. We would love the opportunity to assist you with your private mortgage needs. Please give us a call and we will ensure that a live agent discusses your options with you over the phone or at our office.

UNDERSTANDING CREDIT RATING

Credit can be a confusing topic for most people trying to qualify for a mortgage. Let us help you understand the importance of a good credit rating.

COMPANY OVERVIEW

WE LISTEN WHEN YOU SPEAK

WHO

WHO WE ARE

We are a team of experienced mortgage professionals with about 40 years in the mortgage industry in Canada. Financial Square Inc. has become an industry leader in assisting clients with private mortgages.

Prior to joining Financial Square, our president, Besar Xhelili exclusively practised Real Estate Law. His legal background and mortgage expertise provides customers with quick and easy mortgage solutions, resulting in a smooth and effortless mortgage experience.

Financial Square prides itself on its ability to provide efficient and expedient services to all their valued customers. We are dedicated to providing a simplified mortgage service experience to all our customers.

WHAT

WHAT WE OFFER

We offer equity based loans for:

  • Debt consolidation
  •  Small Business needs
  •  Paying for Education/Student loans
  •  Home Renovations
  •  Personal Needs

We've helped thousands of Canadians achieve their financial and personal goals. Call us at 1-888-813-3914 to get started or apply online today with our 5 Minute Equity Loan Application and one of our lending specialists will contact you within 48 hours.

OUR PROCESS

APPLY ONLINE

Fill out our 5-minute application form or call 1888-813-3914 to talk directly with an agent.

GET APPROVED

Your home equity is key to your approval so make sure your information is correct.

GET YOUR MONEY

Funds can be deposited into your bank account within 5 business days of approval.

GET APPROVED QUICKLY

Apply online or call us toll free 1-888-813-3914 today to get approved.

MORTGAGE EDUCATION

CAN WE MAKE CHANGES TO THE MORTGAGE APPLICATION, SUCH AS LENGTH OF TERM, REPAYMENT FREQUENCY, ETC., ONCE THE APPLICATION HAS BEEN SUBMITTED?

Yes. Your ideal mortgage formula has probably already been created, but if you want to consider a change let’s review the possible benefits and implications.

IS GST PAID ON A RESALE HOME?

There is no GST unless the house has been renovated substantially, and then the tax is applied as if it were a new house.*

WHAT IS AN IAD OR INTEREST ADJUSTMENT DATE?

If your transaction is due to close in the middle of the month, but your regular mortgage payments are set for the start of the month, your first mortgage payment could be delayed for several weeks. To cover this, a date is set as the IAD and an amount is collected on closing to cover this Interest Adjustment Date period.

HOW MUCH OF A DOWNPAYMENT WILL I NEED?

The downpayment usually represents between 5-20% of the total price of the property.

What is the difference between High Ratio Mortgage Insurance and Mortgage Life Insurance? High Ratio Mortgage Insurance protects the lender against payment default by the home buyer. It is required by most lenders if the home buyer has less than 20% downpayment. An insurance premium will apply. Mortgage Life Insurance protects your dependents and loved ones in the event of your death.

When the mortgage lender pays the Property Taxes, how are payments calculated? The estimated amount of your Property Taxes can be added to the mortgage payment and paid on your behalf at the appropriate times. Depending on the balance in your tax account, it may be necessary to increase or decrease the amount of monthly payments to reflect the timing of Property Tax payments.*

* Tax information consists of general comments only, for full details see the applicable legislation or review with your advisor.

Agreement of Purchase and Sale - A legal agreement that offers a certain price for a home. The offer may be firm (no conditions attached), or conditional (certain conditions must be fulfilled before the deal can be closed).

Amortization Period - The time over which all regular payments would pay off the mortgage. This is usually 25 years for a new mortgage, however can be greater, up to a maximum of 30 years.

Appraisal - The process of determining the value of property, usually for lending purposes. This value may or may not be the same as the purchase price of the home.

Appraisal Value - An estimate of the market value of the property.

Blended Payments - Payments consisting of both a principal and an interest component, paid on a regular basis (e.g. weekly, biweekly, monthly) during the term of the mortgage. The principal portion of payment increases, while the interest portion decreases over the term of the mortgage, but the total regular payment usually does not change.

Canada Mortgage and Housing Corporation (CMHC) - The National Housing Act (NHA) authorized Canada Mortgage and Housing Corporation (CMHC) to operate a Mortgage Insurance Fund which protects NHA Approved Lenders from losses resulting from borrower default.

Certificate of Location or Survey - A document specifying the exact location of the building on the property and describing the type and size of the building including additions, if any.

Certificate of Search or Abstract of Title - A document setting out instruments registered against the title to the property, e.g. deed, mortgages, etc.

Closed Mortgage - A mortgage agreement that cannot be prepaid, renegotiated or refinanced before maturity, except according to its terms.

Closing Costs - Various expenses associated with purchasing a home. These costs can include, but are not limited to, legal/notary fees and disbursements, property land transfer taxes, as well as adjustments for prepaid property taxes or condominium common expenses, if any.

Closing Date - The date on which the sale of a property becomes final and the new owner usually takes possession.

CMHC or GEMICO Insurance Premium - Mortgage insurance insures the lender against loss in case of default by the borrower. Mortgage insurance is provided to the lender by CMHC or GEMICO and the premium is paid by the borrower.

Conditional Offer - An offer to purchase subject to conditions. These conditions may relate to financing, or the sale of an existing home. Usually a time limit in which the specified conditions must be satisfied is stipulated.

Conventional Mortgage - A mortgage that does not exceed 80% of the purchase price of the home. Mortgages that exceed this limit must be insured against default, and are referred to as high-ratio mortgages.

Debt-Service Ratio - The percentage of the borrower's gross income that will be used for monthly payments of principal, interest, taxes, heating costs and condominium fees.

Deed (Certificate of Ownership) - The document signed by the seller transferring ownership of the home to the purchaser. This document is then registered against the title to the property as evidence of the purchaser's ownership of the property.

Deposit - A sum of money deposited in trust by the purchaser when making an offer to be held in trust by the vendor's agent, broker, lawyer or notary until the closing of the transaction.

Equity - The interest of the owner in a property over and above all claims against the property. It is usually the difference between the market value of the property and any outstanding encumbrances.

Fire Insurance - Before a mortgage can be advanced, the purchaser must have arranged fire insurance. A certificate or binder from the insurance company may be required on closing.

Firm Offer - An offer to buy the property as outlined in the offer to purchase with no conditions attached.

Fixed-Rate Mortgage - A mortgage for which the rate of interest is fixed for a specific period of time (the term).

Foreclosure - A legal procedure whereby the lender eventually obtains ownership of the property after the borrower has defaulted on payments.

Gross Debt Service (GDS) Ratio - The percentage of gross income required to cover monthly payments associated with housing costs. Most lenders recommend that the GDS ratio be no more than 32% of your gross (before tax) monthly income.

Gross Household Income - Gross household income is the total salary, wages, commissions and other assured income, before deductions, by all household members who are co-applicants for the mortgage.

High Ratio Mortgage - If you don't have 20% of the lesser of the purchase price or appraised value of the property, your mortgage must be insured against payment default by a Mortgage Insurer, such as CMHC.

Holdback - An amount of money required to be withheld by the lender during the construction or renovation of a house to ensure that construction is satisfactorily completed at every stage.

Home Equity - The difference between the price for which a home could be sold (market value) and the total debts registered against it.

Inspection - The examination of the house by a building inspector selected by the purchaser.

Interest Rate Differential Amount (IRD) - An IRD Amount is a prepayment charge that may apply if you pay off your mortgage principal prior to the maturity date or pay the mortgage principal down beyond the prepayment privilege amount. The IRD amount is equivalent to the difference between your annual interest rate and the posted interest rate on a mortgage that is closest to the remainder of the term less any rate discount you received, multiplied by the amount being prepaid, and multiplied by the time that is remaining on the term. For more information, see prepayment charges.

Interim Financing - Short-term financing to help a buyer bridge the gap between the closing date on the purchase of a new home and the closing date on the sale of the current home.

Maturity Date - Last day of the term of the mortgage agreement.

Mortgage Critical Illness Insurance - Mortgage Critical Illness Insurance is available as an enhancement to Mortgage Life Insurance.

  • Mortgage Critical Illness Insurance is underwritten by the Canada Life Assurance Company. Complete details of benefits, exclusions and limitations are contained in the Certificate of Insurance. It is recommended for all mortgagors. It can pay off your TD Canada Trust mortgage -- up to $300,000 -- if you are diagnosed with life-threatening cancer, heart attack or stroke.

Mortgagee and Mortgagor - The lender is the mortgagee and the borrower is the mortgagor.

Mortgage Life Insurance - A form of reducing term insurance recommended for all mortgagors. If you die, have a terminal illness, or suffer an accident, the insurance can pay the balance owing on the mortgage. The intent is to protect survivors from the loss of their homes.

Mortgage Term - The number of years or months over which you pay a specified interest rate. Terms usually range from six months to 10 years.

Open Mortgage - A mortgage which can be prepaid at any time, without requiring the payment of additional fees.

Payment Frequency - The choice of making regular mortgage payments every week, every other week, twice a month or monthly.
 

P.I.T. - Principal, interest and taxes. Together, these make up the regular payment on a mortgage if you elect to include property taxes in your mortgage payments.

Porting - This allows you to move to another property without having to lose your existing interest rate. You can keep your existing mortgage balance, term and interest rate plus save money by avoiding early discharge penalties.

Prepayment Charge - Compensation when the borrower prepays all or part of a closed mortgage more quickly than is allowed as set out in the mortgage agreement.

Prepayment Option - The ability to prepay all or a portion of the principal balance. Prepayment charges may be incurred on the exercise of prepayment options.

Principal - The amount of money borrowed for a new mortgage.

Refinancing - Renegotiating your existing mortgage agreement. May include increasing the principal or paying out the mortgage in full.

Renewal - At the end of a mortgage term, the mortgage may "roll over" on new terms and conditions acceptable to both the lender and the borrower. This is known as renewing a mortgage. Otherwise, the lender is entitled to be repaid in full. In this case, the borrower may seek alternative financing.

Security - In the case of mortgages, real estate offered as collateral for the loan.

Term - The length of the current mortgage agreement. A mortgage may be amortized over a long period (such as 30 years) with a shorter term (six months to five years or more). After the term expires, the balance of the principal then owing on the mortgage can be repaid or a new mortgage agreement can be entered into at the then current interest rates. Visit our Renewal site.

Total Debt Service (TDS) Ratio - The percentage of gross income needed to cover monthly payments for housing and all other debts and financing obligations. The total should generally not exceed 40% of gross monthly income.

Variable Rate Mortgage - A mortgage for which the rate of interest may change if other market conditions change. This is sometimes referred to as a floating rate mortgage.

CORPORATE HEADQUARTERS

Financial Square Inc.

250 - 33 City Centre Drive, Mississauga, ON
Canada

Tel: 1-888-813-3914
Fax: 1-888-813-3915

Email: info@financialsquare.ca
Website: www.financialsquare.ca

Financial Square

Located in the Heart of Mississauga at the corner of Hurontario Street (Highway 10) and Burnhamthorpe Road, this 213,000 square foot, six storey atrium style office building was constructed in 1977 with a complete interior retro-fit in 2006.

QUESTIONS OR COMMENTS?

Have questions or comments about the services we offer? Please use this form to send us an email. Our staff are always happy to provide you with the answers you need.

REACH OUT TO US!

We are always here to help, whether by phone or email

Hours of Operation:
Monday - Friday
8:30am - 8:00pm EST

Equity Loan Application

Home equity financing can open up doors to your future. We can help you make it happen by providing the right solution for your needs. Take a few minutes to apply online and get one step closer to your goals.

STAY TUNED!

We’ll do our best to deliver valuable updates and lots of great resources without invading your mailbox.

TOP