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Your Trusted Mortgage Broker in Sudbury

Sometimes the thought of trusting a broker to help you is dreadful. However, such fear is always without a basis because most brokers are loyal and trustworthy. If you are looking for a house to buy in Sudbury, working with a broker is one of the best things you can do. Certified Mortgage Brokers are some of the most credible and reliable brokers in the industry. We take our client’s interests seriously, and we do our best to ensure you get the right financial support you need to help you achieve your investment dreams. We provide a wide range of services, and we have a diverse team that will do everything to get you the best terms and conditions.

Why Work With Our Brokers in Sudbury

Brokers With Diverse Knowledge And Abilities

Getting the right mortgage brokers to help you solve your exact needs can be challenging. When you have brokers with diverse skills, it becomes easier to get the right mortgage for your needs. Our brokers have amassed years of experience and are well-trained to handle various mortgage needs. We weigh every client’s situation then recommend the right loans depending on the deals and conditions that loan has. You can rely on our expertise at any time you need us.

Different Mortgage Options

You may know about the various mortgages available, but knowing the right one for your financial situation will be very difficult without expert advice. Mortgage lenders can easily confuse you with their products. The mortgage rules in Greater Sudbury can also add to that confusion. We can help you narrow down your options as you get the best loan terms that will make repayment easier.

Experts At Mortgage Refinancing

Refinancing a mortgage means changing the old loan with a new one that will override the old terms and conditions. Even though it sounds like a good idea, refinancing isn’t always a good option for everyone. In most cases, it results in more debt that you can’t pay. You also end up paying more on interest and closing costs for a longer duration. You will need unbiased advice when thinking about this loan, and that is what our brokers present.

We work for the best interest of our clients, which means that we will not steer you in the wrong direction.

Services Suitable For Your Personal Needs

Not every mortgage is suitable for everyone because each person has different financial objectives. Most of these loans require a long-term commitment. Even the short-term ones that could take 6 months create a financial commitment that results in a big impact on your life. Understanding your specific needs as well as your financial plan to achieve your goals is essential in determining the kind of mortgage you take. Look for mortgage brokers that are willing to listen to your needs instead of making hasty decisions. Our brokers treat every client with the uniqueness they have. We will make sure you get tailored services that are perfect for your specific situation by pairing you with the right lenders.

Residential Mortgages

Other than buying a home, residential mortgages can also be used to build new houses. You don’t have to spend a lot of time and effort looking for the right home for your family. You can get a loan and build your own customized home with all the features you like. You could also look for new neighborhoods where constructions have begun and invest in one of the properties. Whatever you decide, our team will be available to help you get the right mortgage. The loans have different conditions depending on how you intend to use them. The mortgage for a ready house will not be the same as that of new construction. Utilize our knowledge in this field, and let us help you get the best loan.

Another benefit of working with our mortgage brokers is time conservation. Don’t waste your time moving from one location to another, searching for a mortgage lender. Our team already has all the possible contacts you will need, and we are eager to use them to help you out. Call us, and we will be there for you.

The Best Commercial Mortgages

One of the biggest hurdles in entrepreneurship is finances. We are here to ensure that doesn’t hinder you from starting your business. Through commercial mortgages, you can get the funds you need to venture into the business sector or to expand the business you already have. We understand that the requirements for businesses differ from the ones for residential properties, and the mortgages can’t be the same. We also know that the loan contract and terms will directly affect the business and result in failure or success.

Our brokers will consider all these as well as the possible penalties you may face if you can’t keep up with the payments. We will then introduce you to the most befitting lender, even in the pre-approval loan sector. With us, you are sure to meet your business needs.

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Services Offered By Certified Mortgage Brokers In Sudbury

Mortgages For First-Time Buyers

The thought of putting all your money in a new property can be intimidating. It gets worse when you imagine spending years paying off the loan. Certified Mortgage Brokers in Sudbury are here to take such worries away from you. We can help you understand the implications of the loan and come up with a plan that will not affect you adversely. We can also try our best to make the investment worthwhile.

Renewal Mortgages

Our main goal with this service is to get you the best possible deals. We don’t want you to pass the chance of getting reduced rates and better conditions. Unlike refinancing, which allows you to swap your loan, renewal is only possible after a specific duration elapses and you haven’t paid back the full amount. Your lender will inform you about the possibility of a renewal in due time, giving you a chance to do your research and determine whether it makes sense.

How It Works

You can start by figuring out the types of homes you can afford by adding the utility bills, maintenance costs, taxes, and the amount you’ll have to pay for the loan. You can then proceed to compare that total to the income you generate monthly. If the total property ownership costs aren’t more than 40% of your earnings, you will be in a better place to pay the mortgage. This calculation can help you find the right properties that you can afford.

Our experience in this industry has enabled us to help many young property owners. Allow us to help you avoid common mistakes that first-time property owners make.

Mortgages For Those Who Want To Refinance

Refinancing a mortgage means getting a new loan that takes the place of the old one. Your main goal for taking this mortgage should be to save money. Don’t take it if the second mortgage will end up being higher than the first. Some of the factors that can result in lower second mortgages are reduced interest rates and improved credit scores. Another good reason for refinancing is if the new terms and penalties still allow you to profit from the loan.

You must negotiate for better terms with the new loan. This is where our expertise comes in handy. We will make sure the refinanced mortgage aligns well with your needs.

The Process

You will get a notice for renewal and a contract that you have to sign. The contract allows you to get a new loan, but you can also use it to get better conditions and a better lender if the current one isn’t serving you the way you would like. Be advised that there will be additional costs if you choose to renew. For instance, changing lenders will come at a fee, and the interest rate you agree to could be higher. You can still weigh your options and the benefits of each aspect before deciding.

Second Mortgages

The fact that this type of mortgage is taken against an existing property is the reason why it’s often confused with a home equity loan. Before applying for a second mortgage, you should confirm the value of your property. The loan allows you to pay off the overwhelming old debt, but it comes at a higher rate. You also risk losing your money, especially if you default on the first mortgage. These mortgages are mostly provided by private lenders, which is why you should let us arrange a meeting with a suitable one.

Mortgages For Those In The Self-Employment Sector

The level of risk a lender takes usually depends on your ability to pay back that loan. That is why most lenders like to have some guarantee in the form of regular income. This is a problem if you are not formally employed because you cannot prove to your lender that you can keep the terms of the loan and pay it in time. We can take you to private lenders that will not use your employment as a reason to deny you the loan. You only need valuable property, proof of income, and tax returns for the previous two years. The lender will use the property as collateral and use the other documents to treat your application like an employed person’s.

Mortgages For Properties Under Construction

Sometimes you run out of funds after starting a construction or when planning to start one. You may also be interested in a newly built property and lack the means to purchase it. In such cases, you can choose between a completion mortgage and a progress draw mortgage. The lender can send the money to the construction company directly or give you the money but keep tabs on the progress of the construction. The complexity of construction projects makes this type of loan risky for both borrowers and lenders. You may have to spend more money from your personal account, depending on how many hurdles you face.

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Google Reviews

Certified Mortgage Brokers
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Afton Jaskolski
2020-12-30

Getting a private mortgage was not easy to be honest, but at least with Mr. Leon it was doable. Thank you for your help!

Davin Mills
2020-12-26

There are a lot of mortgage brokers in toronto to choose from, I was a bit intimidated by that. Don't regret I picked CMB, they took the lead and made sure to cover all the bases

Tracy Wilhoite
2020-11-21

I was renting an apartment for a long time and finally decided to take a big step - get a mortgage instead. Team at certified Mortgage Brokers laid out various options for me. The actual process went smooth and quick, happy with my new home.

Ryder Turcotte
2020-11-16

My wife and I decided to refinance our mortgage and started looking for a mortgage broker in Toronto. There were so many options, so you can imagine how overwhelmed we got! After talking to Leon we decided to proceed with Certified, didn't regret that decision once. They always gave useful recommendations, were attentive, and constantly in touch. And most importantly (for us) they helped us to save some money!!

Lucy Zimmerman
2020-11-11

Vita was great. Helped my son with all the paperwork and got him very good interest rate. On the closing date called to follow up if everything went fine. Quite a pleasant experience. I would recommend this firm for anyone who is looking a mortgage broker.

Certified Mortgage Broker Sudbury

FAQs on Mortgages In Sudbury

What Type Of Loan Is a Mortgage?

This type of loan comes with stipulations on the principal amount you can borrow, the interest rates for the loan, and a payment plan. There are penalties for failing to keep up with payments. You could end up using the property you placed as collateral.

Are Pre-Approved Mortgages Better?

With pre-approved mortgages, it takes a shorter period for you to know whether your loan has been approved or denied. You get to know what is required of you earlier on, and you get to create a plan that works for your future.

What Is The Best Repayment Option For Me?

The choice between an open plan and a closed one is a personal preference. A mortgage broker can help you decipher the advantages and disadvantages of each to ensure you make an informed choice.

How Can I Differentiate Variable Interest Rates From Fixed Rates?

Variable rates are difficult to plan with because they change with time. Fixed rates, on the other hand, remain constant throughout the loan period.

Are There Specific Terms I Should Use When Looking For A Mortgage?

Popular terms used in the industry include:

  • Amortization, which is the time given by the lender to repay the loan.
  • Appraisal, which is the process of figuring out the value of a property.
  • Deposit, which is the payment made to “book” the property. It should not be confused with a down payment.
  • Loan to Value Ratio, which is the mortgage value against the collateral value.
  • Mortgage Loan Insurance, which is the insurance policy you take if you have less than 20% of the down payment.

What Amount Can I Use As A Down Payment?

It’s advisable that you put at least 20% of the mortgage. If you make a large deposit, you will end up making lower payments. That translates to lower interests and more savings.

Our certified brokers will explain all the other terms to you. We will also tell you about the documents you need for the type of mortgage you take and the closing costs necessary for different properties. Feel free to call Certified Mortgage Brokers Sudbury any time, and we will help you get the financial reprieve you desire.

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