We deliver expert advice, competitive rates, and superior customer service
Mortgage Agents are independent, trained professionals licensed to represent and provide you with the best advice for your mortgage needs!
When you visit your bank for a mortgage, they are only able to talk to you about their products and their rates. The person you deal with is a bank employee and their duty is the do the best job they can for their employer, earning them the most money. Mortgage broker will protect you from bait and switch tactics, unscrupulous lenders who will demand a larger down payment at the last minute and will ensure you close on time, protecting your deposit money.
Mortgage Agents work hard for YOU and NOT the banks!
Agents are not limited in the product they can offer you. Agents seek out the best lender package to suit your specific situation, whether it’s with a Chartered Bank, Trust or Insurance Company, or Private Funds. Choosing the wrong mortgage can cost you thousands of extra dollars. Mortgage Agents are trained professionals who can help you save on your mortgage dollar. Choosing the right kind of mortgage depends on a number of variables, including economic outlook, the housing market and interest rates. Call me, I can help!
10 Reasons to use a Mortgage Agents
Mortgage Agents are independent and not tied to any one bank ensuring you get unbiased advice and options.
They only specialize in mortgages and are knowledgeable on current trends.
Mortgage Agents are experts in mortgage financing. It’s all we do.
They save you time and money!
They will work with you personally to make sure you get the deal that is best suited to your needs.
Access to different lenders, banks, trust companies, investors and financial institutions.
Mortgage Agents are experts in their field and work on commission. The better the deal, the more they make.
They provides ongoing support and consultation.
Mortgage Agents are able to work one-on-one with each individual client, evaluate their specific needs and find a lender that suits them personally.
They work for YOU, not the bank.
COMMON QUESTIONS ABOUT MORTGAGES
I Just got a Renewal Notice, What Should I Do?
Most lenders send out their mortgage renewal notices offering existing clients their posted interest rates. The rate you are being offered is usually not the best one. Always investigate the possibility of a lower interest rate with the lender or another lender. Contact your local a Mortgage Architect's Mortgage Broker. Otherwise, you may end up paying a much higher interest rate on your renewing mortgage than you need to.
Should I Wait for my Mortgage to Mature before Renewing?
Lenders will often guarantee an interest rate to you as much as 90 days before your mortgage matures. Moreover, as long as you are not increasing your mortgage, they will cover the costs of transferring your mortgage too. This means a rate promised well in advance of your maturity date, thus eliminating any worries of higher rates. In addition, if rates drop before the actual maturity rate, the new lender will usually adjust your interest rate lower as well.
What is the Difference between Term and Amortization?
The "term" of the mortgage should not be confused with the "amortization". The amortization of the mortgage refers to the entire length of time that it will take for the mortgage to be paid and the house to be "free and clear". The term is the period for which your current payment obligations are valid. In other words, you may choose a five-year term and a 25-year amortization. This would mean that your interest rate, your payments, and your pre-payment options would be the same for the next five years. At the end of these five years, you would re-negotiate the term, and the amortization would now be 20 years.
What is Mortgage Loan Insurance?
Mortgage loan insurance is insurance provided by Canada Mortgage and Housing Corporation (CMHC), a crown corporation, and Genworth, an approved private corporation. This insurance is required by law to insure lenders against default on mortgages with a loan to value ratio greater than 80%. The insurance premiums, ranging from 50% and up depending upon your downpayment & amortization, are paid by the borrower and can be added directly onto the mortgage amount. This is not the same as mortgage life insurance.
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