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Private Lending Options for HomebuyersNavigate Your Mortgage Options with a Mortgage Broker in Burlington

Is it time to renew your mortgage? There are many options available to you in the type of mortgage and the terms you choose. Maybe your employment situation has changed since you were last approved and you are concerned that your renewal will be a problem. A mortgage broker in Burlington can help you understand all of the available options and recommend the one that is right for you. Give us a call if you have any questions or concerns about being able to requalify for your current mortgage.  

Will Your Bank Always Give You the Best Mortgage in Oakville?

Even though you’ve been a customer of your bank for many years, there is no guarantee that they will offer you the lowest mortgage rates in Oakville. You’ll have to do a lot of shopping around to compare the rate offered by the bank to other lenders. But shopping around takes time. Enlist the help of a mortgage broker close to me to do the shopping and to get you the best mortgage in Oakville. Working with us is easy. Make an appointment and let’s talk!   

Private Lending as an Alternative to the Big Six Banks

The big banks are not the only source of mortgage funding you should look at to get the best mortgage in Burlington. Other financial institutions sometimes offer more flexible terms and have less rigorous qualification processes than the banks. Private lending may also be an option, depending on your situation—even for bad credit mortgages. A mortgage broker near me can compare all of the various rates and terms available from private lending, banks and other financial institutions to get you the best mortgage in Burlington for a first or 2nd mortgage.     

Self Employed Mortgage Rates Are Lower Than Ever

With more people making their primary source of income from self-employment, mortgage lenders are beginning to offer more options for self-employed people. It can be difficult to get competitive self employed mortgage rates, mainly because the application process is not geared towards self-employment. However, a mortgage broker can help you find lenders that offer self employed mortgage rates and assist you in gathering the information you need to apply.     

The Updated Mortgage Stress Test Favours First-Time Buyers

In 2018, the Bank of Canada implemented a so-called mortgage stress test which gauges the homeowner’s ability to afford mortgage payments even if the interest rate was to rise. Recently, changes were made to lower the mortgage stress test rate. This is good news for first-time homebuyers who may not have qualified in the past. If you are looking at buying your first house, get in touch by calling 905-541-6961 and let’s talk about your options for getting the lowest mortgage rates in Burlington. HW Advantage is a mortgage broker serving clients in Oakville, Burlington and Hamilton. 

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