BUY MY FIRST HOME CONTACT A MORTGAGE BROKER APPLY  FOR A MORTGAGE
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Mortgage Contract Terms

There’s more to a mortgage than just a low interest rate! As independent mortgage consultant’s we take all mortgage aspects into consideration before presenting options to our clients. Besides mortgage rates other conditions to consider are the following: Term What’s the best term for you? Are you planning on moving or accessing your equity in a few years or are you looking to stay put for the long term? Amortization Options Is an extended amortization available to lower the payment amount? Or is a shorter amortization available to pay off your mortgage faster? Payment Types Can you set payment frequencies to match your pay periods or change the frequencies during your mortgage term? Mortgage Default Insurance Does the lender require the mortgage to be insured with mortgage default insurance and is there a premium for the insurance? Total Cost of Borrowing What is the Total Cost of Borrowing including the interest paid during the term, the costs of lender required appraisals and more? Prepayment Options Are flexible pre-payment options important to you? Do you want to be able to make lump sum payments? Prepayment Penalties Can you break your mortgage without selling your home? What are the mortgages pre-payment penalties if you choose to break your term? Refinancing Options Is there a specific time period you have to wait to refinance your mortgage? Will the lender allow a blend and extend option if you need to access additional equity? Type of Title Charge Is the Mortgage a Collateral Charge or a Standard Charge on your Title? Will you be allowed to easily switch lenders at renewal? Mortgage Portability If you decide to move can you take your mortgage with you to the new property? Mortgage Assumability If you decide to sell can the mortgage be assumed upon qualification by the person purchasing your home?
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BUY MY FIRST HOME CONTACT A MORTGAGE BROKER APPLY  FOR A MORTGAGE
I WOULD LIKE TO:
LEARN ABOUT INTEREST RATES REFINANCE MY MORTGAGE Apply Tweet Me

Mortgage Contract Terms

There’s more to a mortgage than just a low interest rate! As independent mortgage consultant’s we take all mortgage aspects into consideration before presenting options to our clients. Besides mortgage rates other conditions to consider are the following: Term What’s the best term for you? Are you planning on moving or accessing your equity in a few years or are you looking to stay put for the long term? Amortization Options Is an extended amortization available to lower the payment amount? Or is a shorter amortization available to pay off your mortgage faster? Payment Types Can you set payment frequencies to match your pay periods or change the frequencies during your mortgage term? Mortgage Default Insurance Does the lender require the mortgage to be insured with mortgage default insurance and is there a premium for the insurance? Total Cost of Borrowing What is the Total Cost of Borrowing including the interest paid during the term, the costs of lender required appraisals and more? Prepayment Options Are flexible pre-payment options important to you? Do you want to be able to make lump sum payments? Prepayment Penalties Can you break your mortgage without selling your home? What are the mortgages pre-payment penalties if you choose to break your term? Refinancing Options Is there a specific time period you have to wait to refinance your mortgage? Will the lender allow a blend and extend option if you need to access additional equity? Type of Title Charge Is the Mortgage a Collateral Charge or a Standard Charge on your Title? Will you be allowed to easily switch lenders at renewal? Mortgage Portability If you decide to move can you take your mortgage with you to the new property? Mortgage Assumability If you decide to sell can the mortgage be assumed upon qualification by the person purchasing your home?
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