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Residential Mortgages
First Mortgages
A First mortgage is the first debt registered against a property that is secured by a first
"charge" on the property. If a default on the mortgage occurs, the first lender has first right on the
property to recover the outstanding principal and interest costs, and any other costs incurred during the process.
Second Mortgages
A second mortgage is a debt registered after a first mortgage has been registered. In most cases,
the interest charged on the second is higher than the first, reflecting the higher risk to the lender,
but over a short term, still more cost effective than paying the high cost of the CMHC/GE Capital insurance premium.
They can be used to finance up to 90% of the purchase price or value of the home.
Second Mortgage can help with your special needs. Consolidate debts to improve your cash flow.
Turn your home equity into cash
for renovations, vacations, weddings, or education. Turn your home equity into Investments that earn a return.
First Time Buyer
After you've made the big decision about the type of home you wish to purchase, the next step is to
contact our Consultant to determine how much you can afford to spend. We can help you get pre-qualified for a
mortgage.
Repeat Buyer
Avoid the hassles and save your valuable time.
Use our Consultant to do all the work for you and get you a better rate and product to
suit your needs. Get our Specialist working for you today. You may already know the ropes,
but things may have changed since you were last in the mortgage market.
Refinancer
There are many reasons why you might want to refinance, or increase, your
existing mortgage to consolidate non-mortgage debt, to finance improvements to your home, etc.
Let our Specialist help you negotiate with your existing lender or switch to a new lender
who will give you a more favourable rate. There are many factors to consider when refinancing your mortgage.
Here's what you need to know:
Taking out equity in your home
Consolidate other debt
Renovations & home improvements
Consolidating existing financing
Combining mortgages
Breaking a closed mortgage to transfer to a new lender
Renewer
Avoid higher rates avoid unsuitable products and terms don't be part of the masses!
Dont just sign that bank mortgage renewal form. is your Mortgage coming up for renewal... Don't be too hasty
in just signing the bank renewal form. Over 70% of mortgage holders do just that, and what is
the usual result a higher rate and a mortgage product that might not be best suited to their interests. L
et our Consultant do all the work for you we will find you the best possible rate and product to suit your interests.
You may want to renew/switch your mortgage to another lender. Most lenders now offer "no cost or low cost switches" and
it's a smart way to reduce your interest costs.
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