New FirstService Financial Program Facilitates Competitive Financing for Buyers and Owners

Share Article

MoveinFaster service helps buyers and owners of FirstService Residential Management communities obtain financing more easily and at better rates

News Image
“We have already statistically proven via a sample of properties that FirstService Residential managed communities perform better than the market average in terms of foreclosure,” said Peter Gordon, President of FirstService Financial.

FirstService Financial, Inc., an affiliate of FirstService Residential Management, today announced the introduction of MoveinFaster, an exclusive new service making it possible for interested buyers and current owners of properties located in FirstService Residential Management communities to obtain mortgage financing at competitive rates.

This innovative service is the result of FirstService Residential Management’s partnership with selected banks providing for pre-qualification of its managed communities, regardless of status with Fannie Mae. MoveInFaster offers buyers and homeowners the ability to obtain the necessary financing to purchase or refinance one’s home, and at competitive rates.

“When Fannie Mae changed the underwriting criteria used to assess the creditworthiness of condominium associations in 2010, 70% of all condominiums became ineligible for mortgage financing,” said Peter Gordon, president of FirstService Financial. “Over the last two years, it has become more difficult for a buyer or existing homeowner to obtain financing and those who do obtain financing may be forced into higher rates,” he added.

“We have already statistically proven via a sample of properties that FirstService Residential managed communities perform better than the market average in terms of foreclosure,” said Gordon. “So backed with this information, we have used it to ensure that each and every home owner within our communities receives the financing opportunities they deserve, even prior to moving in!”

About FirstService Residential Management
FirstService Residential Management (FSR) is the largest manager of residential communities in North America, overseeing more than 5,600 properties and over 1.3 million residential units across 19 U.S. states and three provinces in Canada. Properties managed include low-, mid- and high-rise condominiums and co-operatives as well as large scale master-planned and active adult communities. In addition, it manages residential rental and REO properties for institutional and private equity clients. FSR is a subsidiary of FirstService Corporation. More information about FSR is available at http://www.fsresidential.com

About FirstService Corporation
FirstService Corporation (NASDAQ: FSRV, TSX: FSV) is a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. As one of the largest property managers in the world, FirstService manages more than 2.3 billion square feet of residential and commercial properties through its three industry-leading service platforms: Colliers International, one of the largest global players in commercial real estate; FirstService Residential Management, the largest manager of residential communities in North America; and Property Services, one of North America’s largest providers of property-related services delivered through franchise and contractor networks.

FirstService generates over $2.3 billion in annual revenues and has more than 23,000 employees worldwide. More information about FirstService is available at http://www.firstservice.com.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Peter Gordon
Visit website