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Financing our renovation and saving thousands

BY: JEROME AND VANESSA | Members since 2013

Recently my wife and I were looking for a line of credit to consolidate some debt and make a few home improvements. We needed a $100,000.

A friend referred us to a broker who said he could help us remortgage our house at an attractive rate. But we were going to have to pay $4,500 to get out of our mortgage with Duca.

“Luis asked us about our situation and then offered us a solution that will save us the cost of a penalty.”

Before we agreed to the new mortgage, Luis, our Duca advisor gave us a call. He’d been a big help when we initially were looking for a mortgage. One of our 3 kids has a health issue which has kept my wife from working. As a result, our credit history was below average.

But Luis was still able to get us approved under Duca’s risk based lending program. We’ve been making payments and improving our Credit Score ever since. Luis asked us about or situation and then offered us a solution that will save us the cost of a penalty, along with the legal costs associated with a switch.

Better still, by not taking on the full loan in one go, we’ll have lower monthly interest payments and a better cash flow. It was just what we wanted to hear, since we never really wanted to leave Duca in the first place. Working with someone who’s been behind us from the start and who knows our situation has really paid off.

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