Are you looking for the Best Mortgage Broker in Oakville/Burlington?
Are you trying to find the best possible mortgage rates for that new home you are looking to buy? Are you set on owning a home in the Oakville area? Well if so, then you should really consider using the professional mortgage broker team at HW Advantage. A mortgage professional at HW Advantage will do all the dirty work for you, and sift through our network of over 35 trusted Canadian lenders in order to find you the best possible mortgage rates. Our team will not only find you the best mortgage rates, but they will also be able to provide you with ongoing financial management so that you can pay off that mortgage as soon as possible.
The purchase of a new house is arguably the biggest investment you will make in your life, and it is important to make sure your mortgage broker in Oakville has your best interests in mind when they are negotiating on your behalf for the best mortgage rates. Choose your mortgage broker in Oakville wisely, choose HW Advantage today!
There are many different types of mortgages that you can take advantage of depending on your individual needs. Let HW Advantage be your mortgage broker in Oakville to find you the right mortgage today.
Traditional or Conventional:
These mortgages meet the requirement of having a 20 percent down payment, with the remaining 80 per cent being provided by the lender. These have a low loan-to-value ratio, which means that the amount of the loan is low, relative to the value of the property.
These mortgages feature an interest rate that doesn’t change, or is “fixed”, for a set period of time, often between 1 and 5 years. It’s easier to manage a budget with a fixed rate mortgage, since your payments won’t change during that fixed term. The interest rates for fixed mortgages tend to be slightly higher than other types of mortgages where the rate changes; what you gain in stability, you pay for with a higher mortgage interest rate.
Self-employed mortgage rates:
Self-Employed people differ from traditional employees in that the income they claimed for tax purposes is not always reflective of their actual earnings. That reality can be a challenge when applying for a mortgage. As such, lenders allow for self-employed mortgages to have a stated income that allows us to advise the actual amount the self-employed person earns. There are limiting factors due to the increased risk of stating an income as opposed to providing documentation to verify it. Credit scores become a point of focus and it is essential that a self-employed person have excellent credit.
Variable Rate (VRM):
This mortgage is another type of mortgage where the interest rate of the loan fluctuates based on the current prime rate. With a VRM, though, your monthly payment remains the same because the fluctuating amount is the amount of the payment that’s applied to the mortgage principal.
These are just a few options of different mortgages that people typically are looking for. For more information about HW Advantage and how we can benefit you as a mortgage broker in Oakville, please feel free to continue browsing through our website. We can also be reached by phone at (905) 541-6961 or by filling out our contact form.
Contact us today by filing out the form below or calling 905-541-6961