New Purchase
New Purchase Mortgages
New Purchase Mortgages Built to Close the Deal
A New Purchase mortgage helps your client close on a property, whether it is a primary residence, an investment property, a secondary vacation home, or raw land. At Magnum Mortgage, we finance these deals across Alberta, including rural and acreage properties, when income, credit, or a tight timeline keep a traditional bank from getting the deal done. As a private lender, we look at the equity and value behind the deal first, so your client still has a path to closing.
Benefits
Why Choose New Purchase Mortgages
When traditional banks say no, a new purchase loan from Magnum Mortgage keeps your client’s real estate dreams alive. Here is how our flexible approach benefits both you and your borrowers:
- Get your client into the market sooner, even when a bank timeline will not work.
- Flexible qualification criteria that look beyond income and credit history alone.
- Local Alberta expertise on rural, acreage, and raw land purchases most lenders avoid.
- Bridge financing that helps your client close now while they work toward bank-ready credit.
Why Choose Magnum Mortgage Corp.
A Trusted Partner for New Purchase Deals
New Purchase deals can fall apart fast when timelines are tight. With over 23 years lending across Alberta, we partner with mortgage brokers to keep deals moving, built to close them, not delay them. Here is what your client can count on.
Common Sense
We look at the full picture behind the deal, not just a credit score, so a complex file still has a path to closing.
Fast Decisions
With same-day document review, we help your client meet closing dates a bank could not accommodate.
Property Range
We finance primary residences, investment properties, vacation homes, and raw land, rural or acreage.
Local Knowledge
With 23 years lending across Alberta, we understand the local market and structure deals accordingly.
Frequently Asked Questions
Common Questions About New Purchase Mortgage
Here are answers to the questions we hear most often from mortgage brokers referring New Purchase deals.
Primary residences, investment properties, secondary vacation properties, and raw land, including rural and acreage properties.
Yes. We do not shy away from these deals, including properties with agricultural zoning that many lenders avoid.
Often, yes. We can structure a second mortgage on an existing property to replace the lost down payment so the purchase can proceed.
We take a common-sense approach and look at the full picture, so a late change that stalls a bank file does not automatically stall ours.
We move quickly, often with same-day document review, so your client can meet a closing date a bank could not accommodate.
Yes. We regularly help clients moving interprovincially, including using equity in their current Alberta property to fund the new purchase.
No. We work with first-time buyers as well as experienced buyers whose income, credit, or timeline does not fit a bank's criteria.
No. The second mortgage sits behind the first, so your client's bank-approved first mortgage and its terms stay untouched.
Often, yes. We look at the equity and value in the property alongside your client's full picture, rather than debt ratios alone.
Our team reviews the file, discusses a solution, and issues a Commitment Letter once we are ready to move forward.
Partner With Us Today
Ready to Fund Your Client's Next Home?
Have a client with a New Purchase deal that a bank could not finance? Reach out to Cindy Janisch, our VP of Mortgage Operations, by booking an appointment to discuss your client’s needs. We will review the file quickly and work with you to find the right solution.