Between $4000 - $75,000 by using the equity you've built in your home for repairs, renovations, post-secondary education and more. Is your mortgage coming up for renewal? We can help you evaluate your goals and needs to make the right decision for your situation. There are generally two ways to get a mortgage in Canada: From a bank or from a licensed mortgage professional.
While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada's largest banks, credit unions, trust companies, and financial institutions; offering their clients more choice, and access to hundreds of mortgage products!
While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada's largest banks, credit unions, trust companies, and financial institutions; offering their clients more choice, and access to hundreds of mortgage products!
Services
Not ready to buy yet? Lets work on getting your ducks in a row, financially and credit wise and when it does come time to buy, you have a better chance of being approved. I love when my clients in Owen Sound and Grey Bruce show me pictures of the renos that they have done, or how they have made their houses their homes.
When you buy a home, you need financing. Home financing is a mortgage or a deed on your home. The bank lends you money in exchange for the deed, which gives them the right to your home if you don't pay your loan as agreed. You've probably come across other loan types in your lifetime. Not all loans are secured - they don't use collateral.
Do you own a home that you've made payments on for a while? Maybe your home's value appreciated since you bought it? If so, you may tap into your home's equity with a home equity loan or home equity line of credit, giving you access to funds tied up in your home. These loans are a great option for homeowners in need of cash that don't want the high interest rates or low loan limits of credit cards or personal loans.
At the end of your mortgage term, you have two choices - pay the balance off in full or renew your mortgage. Most people choose mortgage renewals as many don't have the cash to pay the balance in full. If this sounds like you, don't wait until your mortgage is up for renewal. Approximately 6 months, or 180 days, before your term ends (mark your calendar), start the process.
When you take out a mortgage, you don't have to keep it 'for life.' If you come across lower interest rates, better terms or you have equity in your home, you may apply for a mortgage refinance. When you refinance, you break your current mortgage term and start another. When you refinance your home, you borrow money according to your home's current value.
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