Mortgage Intelligence

Oshawa's Mortgage News Desk!


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Ten great reasons to use a mortgage broker

For many Canadians, mortgage payments are their single biggest expense. Yet most don’t comparison shop to ensure they’re getting the best mortgage rate and terms available, which can cost tens of thousands of dollars over their mortgage years. Don’t make the same mistake! Here are 10 reasons why you need a mortgage broker working for you:

  1. Choice.  A wide range of lenders, including major banks, credit unions, and other national, regional and private lenders will instantly become accessible to you, ensuring that your specific needs are matched to the right mortgage.
  2. Great rates. Get money in your pocket by taking advantage of Mortgage Intelligence’s clout with lenders. Our stellar reputation and longstanding experience allows us to negotiate great rates and access limited time specials.
  3. A focused expert.  A mortgage is a very significant financial event. That’s why you want someone who is highly specialized in the mortgage marketplace and focused solely on your needs. You’ll get advice that will make a significant difference in your financial life.
  4. Independence & objectivity.  We work for you, not the lender.
  5. Solutions when you need them.  We can provide funding for bank turndowns, the self-employed, past credit problems, etc. There are mortgages for almost any situation and we know them all.
  6. Save time. Everything relating to your mortgage can be managed around your busy schedule.
  7. Service, service, service. We’ll be with you every step of the way, to answer all your questions, outline your best options, and efficiently guide you through the process.
  8. Ongoing support.  Our services don’t stop after the mortgage closes. We will stay in touch with you for the life of your mortgage with advice and opportunities.
  9. No cost (oac). The winning lender pays compensation for the services and solution provided, which means no fees for you in the vast majority of cases.
  10. Your satisfaction.  Our goal is to ensure that you are so completely satisfied with your mortgage experience that you will be happy to refer us to your friends, family and colleagues.

With all changes that have taken place in the last twelve months, and the anticipated changes that are due to be announced soon, a mortgage broker’s role has never been more important. To find out more about how the new rules might effect you, contact the team at MiMortgage.ca at 1 866 452-1100 to speak to an expert now.

 

 

 

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The Mortgage Broker Advantage

Increasingly, Canadians are turning to mortgage brokers for their first and next mortgage, taking advantage of the value and convenience of their services. One of their most compelling reasons to work with a mortgage broker is that they have access to a wide range of lending sources, making it significantly easier to match borrowers with the mortgage product that best suits them. When you’re dealing directly with one financial institution, you just don’t know if you’re getting the best deal because they’ve only got their own menu of products to offer you.

If you are dealing with one of the largest mortgage brokers in the country, you’ll also enjoy considerable bargaining power. A large brokerage has clout with lenders to negotiate volume discounts that lead to lower rates and greater product choice than other companies. And, brokers are generally paid by the lender rather than the borrower, making it a logical choice to always consult with a mortgage broker.  They’re shopping the market for the best rates, doing all the work, and there’s no cost to you.

But a mortgage broker’s role extends beyond securing financing – to arranging the home appraisal and lawyer or notary, reviewing the purchase contract and statement of adjustments, securing mortgage life insurance, and keeping tabs on the entire closing process. And that’s just during the mortgage transaction. The broker then stays in touch, keeping clients apprised of new mortgage offers and rate fluctuations, and advising when to lock in a variable-rate mortgage.

Ultimately, the role of your mortgage broker is that of a trusted advisor and it’s a relationship that can last a lifetime. Many mortgage brokerage clients have been referred by word of mouth, and many are even second- and third generation client families.

Whether you’re taking on your first mortgage or a long-time homeowner looking to refinance, consolidate debt or leverage your equity to acquire a new property, a mortgage broker is a wealth of information. They can advise about down payment requirements, mitigating credit history issues, mortgage payment and prepayment options, interest-saving strategies, purchasing vacation, investment and commercial properties, qualifying with supplemental rental income, and mortgage options for new immigrants.

When you get a mortgage, most likely the biggest financial commitment you’ll make in a lifetime, it’s critical that the person you’re dealing with is knowledgeable, able to answer your questions, and has access to a full range of lenders so you get the best mortgage for your needs. Contact the experts at MiMortgage.ca at 1 866 452-1100 or apply online now!

 


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Thinking of refinancing your home?

Four valuable tips to ensure you get the best possible deal when refinancing

refinancing your home

Picture by Globe and Mail

Considering a refinance on your mortgage is a big step and will require lots of thinking before you go ahead. Here are a few valuable tips that you should keep in mind when considering refinancing your current mortgage:

  1. Personal and employment circumstances

It is vital that you consider your employment and personal circumstances when deciding on a rate. If you feel that you are likely to be faced with changes to your circumstances in the near future, a variable rate maybe the way forward and then you can switch to a fixed rate once your situation improves.

  1. Explore payment options

All variable rate mortgages are convertible to a fixed rate without any penalties or fees to the applicant. According to the Financial Consumer Agency  of Canada, you will also have the option of capping interest rates to ensure that the rate does not go beyond the rate agreed upon and maintain what is referred to as a “hybrid” or a “combination” where the mortgage is partially financed at a fixed and a variable rate.

  1. State your terms

You can let your mortgage broker know the duration that you would like on your mortgage – from one year up to five years.  The amortization period of your mortgage will be based upon the payment amount and the frequency (weekly, bi-weekly or monthly) of your payments.

  1. Consider a flexible payment schedule

Depending on how fast you wish to complete paying off your mortgage, you have the option of choosing how frequently – weekly, bi-weekly or monthly, you would like to make payments. The sooner you reduce your principle amount will result in lower payments on interest.

Please read the full article on Globe and Mail for more information on refinancing your mortgage.

If you are considering refinancing your existing mortgage in the New Year and would like to speak to a mortgage broker on refinancing options available to you, contact the team at mimortgage.ca today. To get pre-approved today, apply now through our secure online website or speak to one of our agents at (866) 452-1100.

 


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Knowledge is Power in Real Estate Investing.

Investors Still Turning To Real Estate

With a 5-year down turn in the stock markets, many people have turned to Real Estate as an investment vehicle. The fact of the matter is housing has continued to increase while stock markets rise and fall with every little global hick-up shows on the daily trending of markets around the world.

So it’s good to know where the hot real estate area is if you happen to want a good investment property.  While lists of top areas and for investment abound, there’s just no better way to find a solid property with good future potential than to use your local professionals as a guide.

ImageBuild a Team of Professionals.

Along with a local Realtor its also a great idea to have a mortgage adviser that is familiar with the area in which you are buying. Having relationships with lenders that are familiar in a select areas can culminate in fast approvals, less paper and a better rate. Together with an experienced Home Inspector, Legal Representative and Insurance Adviser the whole process can and should create a sound future investment.

There is really no replacement for a team of seasoned professionals and their collective knowledge when it comes to buying investment Real estate.

With a team of  full time Mortgage Agents, and Durham Region’s largest Mortgage Intelligence office you know you have found the best possible starting point for your investment mortgage solutions.

For Investment Mortgages there one great place to start!

Call Mortgage Intelligence today

Please use our secure on-line link to apply now! 

It's So Easy!

It’s So Easy!