Here are some Frequently Asked Questions that we have had from our clients over the years. Call us and we can answer your questions in person.

Calgary
Phone: (403) 541-0002
Toll Free: 1-877-222-2766

Edmonton
Phone: (780) 421-1600
Toll Free: 1-866-414-1600

Who is Aaron Acceptance?

Aaron Acceptance Corporation (an Alberta Registered Company) is one of Western Canada's Leading Equity Mortgage Lenders, with affiliates across Canada and the United States. The Company lends money based on your "equity" in real estate.

Who qualifies for a loan at Aaron Acceptance?

If you own real estate and have sufficient "equity" in your real estate, you qualify for an equity loan. Your personal credit history, current job/employment situation does not matter. We look at the "equity" in your home or other real estate to make a quick decision on approving your loan.

Who doesn't qualify for a loan?

If you do not have any real estate holdings, you will not qualify for a loan from Aaron Acceptance. We only loan money based on "equity" in real estate.

An exception to this rule is, if you have family or friends who have real estate holdings and if they will allow you to use their "equity" in real estate, we can lend the money you require, with you guaranteeing the loan.

What does "Home Equity" mean?

After making mortgage payments for years on your home or other real estate, you have built up a portion of unencumbered ownership (equity) in that property. That portion of unencumbered ownership is the "equity" you own in that real estate. For example, if your home is valued at $200,000 and if you owe $100,000 on your first mortgage, then you own and enjoy $100,000 in "equity". (Value $200,000, less First mortgage $100,000 = Equity $100,000) It is that "equity" upon which Aaron Acceptance will lend you money.

How can I borrow money when I have a bad credit rating?

Very simply, at Aaron Acceptance we do not look at your credit rating or Credit History. We do not require a financial statement. All we are interested in, is the "equity" you have in your home or other real estate. That is all we consider when granting a loan.

I am Self- Employed. Can I qualify? Yes!

You can qualify for a loan, regardless of your current employment situation or history. If you have sufficient "equity" in your home or other real estate, you can qualify. Many of our clients are self-employed and the banks have not recognized them as a good risk, so they have not qualified for a bank loan. At Aaron Acceptance we make it easy for you to borrow money, based on the "equity" you have in your home or other real estate.

I don't have a job. Can I qualify? Yes!

You can qualify for a loan, regardless of your current employment situation or history. If you have sufficient "equity" in your home or other real estate, you can qualify. Over the years, at Aaron Acceptance we have helped people who are unemployed or who have been "down-sized." If you are not working, the bills keep coming. We can help you with a loan based on the "equity" you have in your home or other real estate. We like saying "yes", when the banks have said "no".

I am retired. Can I qualify? Yes!

If you are retired or semi-retired, chances are you have substantial "equity" built up over the years in your home or other real estate. Aaron Acceptance can grant a loan based on that "equity", regardless of your personal situation. Many of our retired clients have borrowed money and enjoyed a dream vacation, or have purchased a Recreation Vehicle or Retirement Property. Call us today and we can give you a quick personal assessment.

What will my monthly payment be?

Your monthly payments will be based on the amount of the loan and the applicable Interest rate. Check the "Sample Payments" area of this website, or call us for a personal quotation of monthly payments. At Aaron Acceptance our clients usually have monthly commitments that include mortgage payments, a car payment and numerous credit card payments. We can help dramatically reduce your monthly payments. Call us for a personal, no obligation, consultation.

How much can I borrow?

The amount of your loan will depend on the equity you have in your home or other real estate.

In urban areas (cities and towns with a population of 9,000 or more) the company will generally lend up to 75% of the appraised market value of the property being used as security for the loan.

In rural areas the company will generally lend within a range of 50% to 70% of the appraised market value of the property being provided as security for the loan.

Average mortgage secured residential property loans range from $10,000 to $250,000. Call us for complete details.

If you own Commercial, Investment or Recreational Real Estate, Aaron Acceptance can grant a loan based on your "equity". Call us for more information.

What can I use the loan for?

You can use the proceeds of your loan for any number of personal or business reasons. You decide how to use the money:

In most cases we can tell you if you qualify for a loan, immediately upon obtaining an application from you over the telephone. Of course, we must confirm the value of your property by having an accredited Market Value Appraisal completed on your property and we must confirm the current balances owing under any mortgages, or liens registered on your property.

What is the lending process? How long does the entire process take?

The entire lending process is as follows and generally takes five (5) business days:

Day 1

You call our office and provide us with information such as your name, address, birthdate, your estimate of the value of your property, the balance owing under your first mortgage debt and other creditors, etc.

Based upon the information you have provided us with, we will tell you whether or not we can approve your loan. If your mortgage is approved, we will tell you how much money you can borrow, what the monthly payment, terms, conditions and cost of the loan will be. We would approve your loan!

If the amount, monthly payment, terms, conditions and costs of the loan are acceptable to you, we would request that you authorize us to order an appraisal of your property. We would then fax our appraisal instructions to the appraiser, who would then contact you to make an appointment to inspect your property. You would pay the appraiser for his services at the time the appraiser inspects your property. The appraisal fee is your only out of pocket cost.

Day 2

The appraiser would inspect your property and provide Aaron Acceptance with a written appraisal report. We would provide you with a copy of the appraisal report when you visit our offices to execute the mortgage and disclosure documentation

Day 3

We would instruct our solicitors to draw the pertinent mortgage documentation.

Day 4

You would come to our office to execute the required mortgage and disclosure documentation.

After all mortgage and disclosure documentation has been executed, we will send the documents to our solicitors with instruction to register the mortgage at the Land Titles office.

Day 5

Upon successful registration of your mortgage at the Land Titles office, our solicitors will forward your funds payable to yourself to Aaron Acceptance. You can then come to our offices to pick up your money.

It goes without saying, that if it takes longer than one day for the appraiser to gain access to your property, or if it takes longer than one day to obtain registration of your mortgage at Land Titles, it could take an extra few days to complete funding of the mortgage.

Who do I call to see if I can qualify?

Our team of financial experts is ready to take your call or email today. Call Aaron Acceptance at the number below or send an email at one of the links below for a quick reply.

For more details, or to ask any other questions, call Aaron Acceptance today.

Broker/Lender fees may apply

Calgary
Phone: (403) 541-0002
Toll Free: 1-877-222-2766
Email : Michael Addams

Edmonton
Phone: (780) 421-1600
Toll Free: 1-866-414-1600
Email : Roy Choma