The Meaning of Inter Alia
Wondering what is an Inter Alia mortgage?
Or how it can benefit you?
To answer all your questions, we’ve written this post to help guide you.
So let’s first start by looking at meanings. Inter alia is a latin word translated as “among other things” which is commonly used in legal writing.
And what is Inter Alia in legal terms?
When referring for example to a court decision, the phrase means to think about, or to ponder or study, and to examine carefully.
Inter Alia Mortgage Definition
But what does Inter Alia mean in real estate?
In the real estate world, Inter Alia mortgages represent a type of loan which is secured by more than one property.
What this means exactly, is that the client borrows funds against their current house, to purchase another piece of property. Also called a blanket mortgage, this type of loan crosses both titles of security for the lender.
An Inter Alia mortgage is commonly used in a variety of situations. For example, let’s say you are already a homeowner, but just found the house of your dreams. Now you don’t really want to sell your existing property just yet. Or maybe the market is down at the moment and you don’t want to lose money by selling it below its value at this particular time.
Although you have ample equity from your existing property and you can use it to obtain your dream home, the banks have said no to accessing those funds. On top of that, subjects have to be removed, and time is running out.
So what do you do?
Do you let that dream go?
Or do you go find a non traditional mortgage broker that understands the complexity of the situation and finds a solution?
Hoping you will choose the second option, here’s what specialty financing services we can offer you.
How We Can Help You
We understand all the aspects of an Inter Alia mortgage and we know exactly how and when this type of loan can benefit you!
Whether you are rich in equity, poor in cash, and you just want to transfer wealth from one to the other.
Or you are looking to secure more property.
Or maybe you are struggling with a debt to income ratio or bad credit.
Our alternative mortgage lenders will do their best to help solve your situation!
And to help you get a better idea, here’s an example:
You own a $1,000.000.00 detached home.
You owe $300,000.00 with a current lender.
You want to purchase a piece of real estate valued at $600,000.00
Total land assets $1,600,000.00
Current mortgage of $300,000.00
You need $600,000.00 to purchase a new home
Total mortgages required comes to $900,000.00
$300,000.00 would stay with the existing lender
$600,000.00 would be requested as a new 1st mortgage across both properties.
The above breakdown describes what I am able to do for my clients. But there are many other situations in which I can help you obtain the sort of non traditional bank products financing that you are looking for. With the best rates, of course!
So contact me today and let’s start working out a strategy that supports you in getting the house of your dreams.