When life happens

This article was provided by IC Savings

Life’s unexpected or planned financial situations shouldn’t cost anyone their home or disrupt their goals. That’s the driving philosophy behind IC Savings’ innovative Reset Mortgage—an important lending solution designed to support borrowers navigating temporary financial circumstances, whether due to unforeseen challenges or as part of a planned strategy.
 

Rethinking mortgage solutions for real-world challenges

“Every day, brokers encounter clients facing changes that impact their financial situation—whether it’s unexpected life events or planned milestones, like building a retirement property,” explained Agostino Tuzi, Vice-President, Credit, at IC Savings. “We designed the Reset Mortgage with its standout feature of payment relief, providing a better way to support clients through temporary financial situations and helping them achieve their desired goals with confidence.”

This industry-leading mortgage solution offers borrowers vital breathing room through:

• Payment relief during the mortgage term
• No minimum beacon score requirement
• Flexible 1-3 year terms
• Lending up to 65% LTV (including projected accrued interest to end of term)
• Competitive rates
• Purchase and refinance options

"The key to the Reset Mortgage is a clear exit strategy," emphasized Tuzi. "We work closely with brokers to understand their clients' needs—whether they are navigating unexpected challenges or planning for significant milestones. A defined exit strategy is crucial to ensuring the product aligns with their long-term goals."

This strategic approach resonates with experienced broker Antoniette Doria. "Having a dedicated product that supports clients during temporary transitions—whether they're overcoming financial setbacks or managing planned changes—fills a crucial gap in our toolkit. It's about helping clients achieve their goals with confidence and a clear plan for the future."

Lending designed for real life

Designed to support borrowers navigating short-term transitions—whether due to unexpected challenges like job loss, health issues, or family restructuring, or planned events like building a retirement property—IC Savings created the Reset Mortgage to address real-life financial needs. With no mortgage payments required and interest accruing for the term of the mortgage, it provides crucial flexibility, offering the breathing room that’s needed to overcome hurdles or achieve goals. With expanded qualification criteria, the Reset Mortgage delivers a comprehensive and compassionate solution tailored to a variety of financial situations.

Key features of the Reset Mortgage include:

• First mortgages for owner-occupied residential properties (1-4 units)
• Focus on prime urban markets
• Inclusive of newcomers to Canada
• Straightforward renewal path once stability is restored

"Financial transitions shouldn’t define anyone’s future," noted Tuzi. "Our Reset Mortgage provides the flexibility needed to navigate these periods, without the added stress of monthly payments. The exit strategy ensures we’re not just offering temporary relief but creating a viable path to achieving long-term goals."

Broker Chantelle D'Mello emphasized the impact: "This product offers more than just payment relief—it provides clients with confidence and a clear path forward, whether they’re overcoming challenges or pursuing new opportunities."

Empowering brokers to meet market needs: A partnership built on innovation

"While other traditional institutions maintain the status quo, we're committed to finding better solutions," shared Joe Rosati, Vice-President, Business Development and Sales, at IC Savings. "The Reset Mortgage exemplifies our mission to support brokers with innovative products that address real client needs."

The Reset Mortgage is just one example of IC Savings' innovative approach to lending. "We're always on a mission to do things better," shared Rosati. "From our Payment Hold-Back Mortgage to our Interest-Only solutions, we're continuously developing products that help brokers solve real-world challenges for their clients. "The Reset Mortgage reflects IC Savings' commitment to finding better ways to serve the broker community and their clients.

"In today's market, we need lending partners who think differently," added broker Ann Pope. "IC Savings has created something truly unique with the Reset Mortgage, particularly in how they structure deals with clear exit strategies."

Ready to discover a better way?

Connect with an IC Savings underwriter today to learn about the Reset Mortgage and the complete suite of IC Savings’ innovative lending solutions. Whether your clients are facing temporary challenges or seeking creative financing options, IC Savings is here to help you structure deals that work.

Let's explore how our unique mortgage solutions can help you build stronger client relationships and grow your business.

To learn more about IC Savings' innovative mortgage solutions, visit icsmb.ca or contact Joe Rosati, Vice-President, Sales and Business Development at IC Savings at (647) 668-2807 or [email protected].