Residential Mortgage

 We can help you to achieve your Canadian dream, the most important and biggest investment you would make in your life. Finding a home mortgage is overwhelming at times as it needs lot of dedication, sacrifices and commitment. A residential mortgage is a long-term loan taken out by one or more individuals to buy a home to live. 

•  Tailored Mortgage Solutions
• Competitive Rates
• Expert Guidance
• Streamlined Application Process

Many Canadians and immigrants have dreams of owning their own house someday, and somewhat it makes more sense because house rentals have been rising for a long. Buying a house will definitely help you to build some sort of equity by paying your mortgage, instead of paying someone else mortgage. Obtaining a mortgage is a crucial step in purchasing your first home and there are several factors for choosing the most appropriate one.

Having a Mortgage Pre-Approval can give you an advantage in this competitive real estate market. There are plenty of buyers, and bidding goes crazy at times. A mortgage pre-approval isn’t a promise that you’ll get a loan for the home you want to buy, instead, it determined how much money you can borrow, how much you could pay per month, and what your interest rate will be. 

Refinancing your mortgage means that you are trading in your old mortgage for a new one, and possibly a new balance. When you refinance your mortgage, your bank or lender pays off your old mortgage with the new one; this is the reason for the term refinancing. Most borrowers choose to refinance so they can lower their interest and shorten their payment term, or take advantage of turning some of the equity they have earned on their home into cash.

Market conditions are very volatile and mortgage interests vary from private lenders, and credit unions to big financial institutions. Mortgage contracts play a pivotal role in the long run when you are calculating the balance on mortgage. When you get a mortgage with a lender, your contract is in effect for a specific period of time. This is called the mortgage term and it can range from a few months to five years or longer.

 An equity take-out mortgage is a mortgage loan used to “take out” equity for other purposes. It may be used for repairs or renovations of the property, to use as a down payment for a vacation property, for investment in another area, or for many other purposes. Because it is tied to property equity, the property owner must have equity in the property, after its fair market value and other mortgages are taken into consideration.

Financial planning is of utmost importance when it comes to dealing with any of the credit products. People don’t plan to fail they fail to plan, which results in heavy debts. Debt consolidation is the act of taking out a new loan to pay off other liabilities and consumer debts, generally unsecured ones. Debt consolidation loans don’t erase the original debt but transfer a consumer’s loans to a different lender or type of loan.

Did you know that you can utilize the equity in your property to use for a variety of purposes? You can utilize the equity in your property to help with the purchase of another property, debt consolidation, investments, and more. In many cases, you do not need to discharge your current mortgage if you have one.

Are you self-employed currently? Yes? Great! You are already pursuing your dream by choosing a career that you like. Many, self-employed professionals wonder how they would be eligible for a house mortgage and here is the answer to it.