Laurentian Bank

Laurentian Bank is a Canadian financial institution that was founded in 1846. Its major undertaking is to help clients improve their financial health. The organization serves over one and a half million customers throughout the country and employs thousands of employees, which makes it a trusted lender in several market segments. They are focused on providing borrowers with highly customizable mortgage products that can be integrated with their traditional banking services for a single-point of management.

Laurentian Bank, just like its competitors, offers both fixed- and variable rate mortgages. Moreover, the Bank is one of the few financial organizations in Canada that offer cash-back mortgages. To realistically compete with other leading home equity line of credits, Laurentian Bank offers a unique product known as the Homeowner’s Kit. This product allows clients to take advantage of their home equity to get credit.

Variable-Rate Mortgage – From this type of mortgage, Laurentian Bank offers its customers the lowest market rate available. People or businesses that go for this type of mortgage can leverage on two payment options: variable payment or a fixed payment. That is, you either opt between making variable payments which heavily depend on the fluctuating prime rate or pay a fixed amount during the entire loan period.

Who opts for this mortgage? This type of loan is generally preferred by first-time homebuyers. Additionally, individuals who are not much concerned about rate fluctuations may find it actually interesting.

Fixed-Rate Mortgage – Many clients opt to take this option as opposed to the variable rate mostly because it entails stability. Clients certainly know what to anticipate in future expenses.

Options are what every client seeking a mortgage needs. Whether you are seeking a mortgage renewal, refinance or planning to purchase your first home, Laurentian Bank has various mortgage products that cater to virtually every financial need.

• Closed variable rate mortgages
• Closed fixed rate mortgages
• Home equity line of credit
• Cash back mortgage
• Retirement line of credit

In order to estimate your mortgage payments, you should have the following information on hand:

• The amount you are willing to put as down payment (in case you are buying a new home)
• The purchase fee or renewal fee for your property
• Your mortgage rate
• The amortization period you have chosen

Once you have assembled the above-listed information, you can input them into the Laurentian Bank’s mortgage payment calculator and get your estimated payments.

Acquiring a home on your own can be a mind-numbing job; however, with Laurentian Bank’s aid, this process can become an enjoyable process. Notably, the bank offers fantastic mortgage options which will definitely help you acquire your dream house. Get in touch today for all your mortgage needs.
Find out more Canadian mortgage lenders: B2B Bank, Laurentian Bank, Tangerine, Street Capital, Scotiabank and others.