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I will work with you to customize a mortgage package to suit your individual needs. Everyone’s situation will differ so there are many options that need to be considered: Here are some of options and mortgages I deal with.
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What type of mortgage do you require |
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- New Home Mortgage
- Pre-approval
- Mortgage Renewal/Refinancing
- Second Mortgages
- Debt Consolidation
- Mortgage Transfer
- Equity Takeout
- Construction Mortgage
- Commercial Mortgage
- Interalia Mortgage (i.e. one mortgage on two properties)
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Fixed vs. Variable |
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Fixed Rate Mortgage |
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The mortgage rate stays the same for the whole term and the mortgage payments are consistent during the term of the mortgage. |
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Variable Rate Mortgage |
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The mortgage rate varies with fluctuations in the bank prime rate. As a result, mortgage payments may vary during the term of the mortgage. A minimum term commitment is often required (usually 3 years). You may have the option to "lock-in" the mortgage at a fixed rate during the term. |
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Open vs. Closed |
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Closed Term Mortgage |
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The mortgage contract is written for terms ranging from 6 months to 10 years. Penalties may be triggered if the borrower wishes to end the contract before the term expires (early repayment). |
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Open Term Mortgage |
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The mortgage contract is written for a short term (usually 6 months or 1 year). No penalties are triggered if the borrower wishes to end the contract before the term expires. |
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