MORTGAGE BROKER IN BRANTFORD

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• What Is A Mortgage?

Mortgages are real estate funds that you can use to buy a home the first time or borrow against the available property. Getting a mortgage entails having a written contract between lenders and borrowers. The lender considers several factors before giving the mortgage loan. They also take the debtor’s property as security for their money. Failure to pay back can result in losses to both parties. If the house value is less than the amount issued, the lender may not get all their funds back even after selling it. The borrower automatically loses their property if they do not honour the contractual deal.

The mortgage agreement covers every essential component as discussed and agreed upon by the lender and borrower. Examples include the mortgage capital, the amount to be paid with interest and the period you must take before completing repayment.

A mortgage is a type of loan you take against an existing property to buy another property, construct a new property, or pay for your old debts. Different types of mortgages exist for different needs and preferences. You can choose one depending on the kind of collateral you have and the amount of payment you’re willing to make every month.

Our Mission

We want to take a more consultative approach with our clients, meaning we do not withhold relevant information from you. We know nothing can replace experience in this industry, and we believe that delivering personalized solutions is the best way to excel in customer service. Because of that, we give realistic options, but the final decision is still yours. We will include you in every step of the process.

Getting a suitable mortgage can be extremely difficult without expert help. The technical jargon can easily obscure the whole process, especially if it is your first time applying for a mortgage. We can explain the measures and introduce you to a wide selection of lenders to get your desired loan. We reduce the time it takes to find an appropriate loan, which we also ensure comes with the best rates.

Benefits Of Choosing Us

Guaranteed Hassle-Free Closing

Turkin Mortgage has agents that are well-trained to handle your exact needs and eliminate the stress associated with closing a mortgage.

Our team is perfect whether you’re looking for a newly-built property for your family or constructing your own property.

We will give you the most suitable options and deals that will suit your lifestyle to ensure you don’t miss out on the investment opportunity you have.

We Know About The Best Mortgage Rates Out There

Our main goal is to help you find the best mortgages, and that means knowing how to get the best rates. Different mortgages come with different deals that sometimes look good in the short-term but become too costly in the long-term. Working with good mortgage agents that know how to maneuver through the processes to give you the best rates is essential, and our agents can do that for you. We will explore the conditions included in the mortgage and advise you accordingly. Being in contact with multiple lenders that we have had a long relationship with also puts us in a better position to serve you best. Call us if you want the best mortgage rates in Brantford.

Expert Mortgage Refinancing Agents

Refinancing your mortgage means getting a new loan to trade with the old one. This mortgage can give you lower rates, which will reduce your monthly payments. It also allows you to shorten your term or consolidate your debts. You can only enjoy these benefits when you work with mortgage refinancing experts that can simplify the complicated mortgage acquisition process.

Mortgage refinancing also has the disadvantage of bringing more debt that may be more difficult to pay off. If you consolidate your debts and take a refinancing mortgage, you end up with a longer loan term, more interest rates that are sometimes hidden, and more closing costs. There may be other costs that increase the total amount as well. Our expert agents will guide you through the processes and help you determine whether refinancing is a good idea for you.

Customizable Mortgage Services

When delivering our services, we consider all the factors tied to the mortgage, such as the fees, rates, and other conditions. We also consider your financial ability and the possible changes you may experience in the future. Through these, we can deliver tailored services that ensure you get the kind of mortgage you want.

We Value Time And Resources

Our mortgage agents are available to help you save time and money. The variety of lenders we have will make it easier to narrow down your search and reduce the time you would spend searching for them in Brantford. We have every mortgage option you may need, whether it is a second mortgage, a private mortgage, or a construction mortgage among others.

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• What Mortgage Payment Choices Do Lenders Give Borrowers In Brantford?

Open plan

Many lenders give you the chance to choose a payment option you’re comfortable with. One of them is the open payment plan that allows you to pay what you can when you can. You’re allowed to complete your payment before the loan term elapses. The plan has shorter terms and more interests.

Closed plan

The other payment plan is a closed one. You can make large payments, but you have to wait until your term elapses before completing the loan. Paying before the mortgage term is due can lead to penalties.

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• How Can I Benefit From A Pre-Approved Mortgage?

The process of getting a pre-approved mortgage is usually simpler and faster. It involves the issuance of financial information to the lender, verification of the information, and counterchecking credit information. Once the lender does all this, they’ll give you an approximate amount you qualify for and the possible payment terms you may get. Some of the benefits this process can give you are:

Turkin Mortgage brokers in Brantford are here to make your investment worth it. Buying or building any type of property is a big investment that also comes with more risks. Managing those risks and preventing potential problems can bring you the rewards you deserve. Our agents are licensed, certified, and dedicated to our clients. Contact us today.

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• Fixed Vs. Variable Rates: Which Is Best For My Situation?

Every borrower has the option of choosing variable or fixed rates depending on the risk level they’re willing to take. The risk associated with fixed rates includes high rates that remain constant throughout the entire mortgage term. The risk of variable interest is the uncertainty that comes from frequently changing rates. The benefit of fixed interest is stability that makes financial management easier, while that of variable interest is reduced interest.

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What Is The Recommended Down Payment?

You should always pay at least 20% of the property price as a down payment. If you can’t afford the amount, consider getting Mortgage Default Insurance. The insurance may increase your costs, but it will reduce your monthly payments in the long-term.

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• Terms You Should Know When Closing A Mortgage

Appraisal: assessment of a property to get its value

Down payment: what you pay for the property before getting the mortgage

Property Transfer Tax: tax owed when someone else takes over property ownership

Property Inspection Fee: what you owe when a professional checks the integrity of your home structure

Amortization: the period you require to complete your mortgage payments

Loan to Value Ratio: the value of your property vs. the loan amount

Mortgage Term: the time you agree with your lender that you’ll pay the mortgage. You can renew the term if it elapses and you’re not done paying the mortgage

Mortgage loan insurance: the insurance cover you get when you have very little down payment