rbc has a very good switch/refinance program,
example,
property worth 1.0-mill,
mtg bal. 200,000.00
rbc approves a HomeLine at 500,000.00
we can offer you
500,000 = seg1: 200,000 mtg payout to current lender
+ seg2: 300,000 credit line you can use anytime.
you can also restructure this in anyway you want, ie,
you need $$ to buy another apartment , you can set
500,000 =
seg1: 200,000 payout current bank
seg2: 200,000 buy a new apartment
seg3: 100,000 credit line, that, u may use anytime later.
* rbc covers,
1. legal fee to registered this mortgage/homeline,
2. appraisal fee
3. discharge current lender fee,
-------------------------------------------------
total value close to $1000.00
best switch/refinance program in the industry.
* to cover these fees, min. mtg bal payout should be 100,000+ which is a very min. requirement *
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