Do You Know What Your Mortgage Options Are?
Are you in search of a house or condo that fits your lifestyle today? Or do you need to consider a home that leaves room for your household to grow? A lot of buyers make the mistake of buying for today when tomorrow is right around the corner. They do so because they assume they have limited buyer power. This is not the case when you work with a mortgage broker. The right broker can significantly increase your home purchasing power which gives you more options. If you're buying in the greater Winnipeg area, that broker is Ron Chan of INVIS Canada.
Call 204.290.9950 today for a FREE analysis of what you can afford. It's likely more than you ever imagined!
Here to Help Your Real Estate Portfolio Grow
Speaking of the future, our Winnipeg brokerage is here to help you save money and grow your real estate portfolio over time. For instance, when you are ready to sell your current home and/or buy a new one, you once again need help in considering options on a new or second mortgage. This may include help with mortgage portability, or you can often "blend" your current mortgage rate with the mortgage rate on the additional funds you need. There are also renewal, refinancing, and home equity loan options to consider.
While most people think they need a broker before buying a home, the reality, is that they are just as important (possibly more) for after you've purchased your first property. For instance, while interest rates vary depending upon when you find us, you may want to capitalize on when they are low. When they drop, you might want to consider breaking your current mortgage and getting a new one for the total amount you need. To break your mortgage, your lender typically has the right to charge a penalty based on the greater of three months' interest or the interest rate differential (IRD), which is essentially the difference between your old rate and current rates for your remaining term. Lenders can calculate IRD differently; you should always get the actual penalty from your lender. If you are in a term longer than five years and you have passed the fifth year, the three-month penalty applies and not the IRD so this may make breaking your mortgage more appealing. You'll want to compare your new blend/extend rate with the rate you'd get with a new mortgage. Of course, the exact terms and conditions of your current mortgage need to be examined closely to determine if there are other factors to consider. Once again we find a scenario where it's necessary to receive a professional mortgage analysis to determine which option is the most beneficial to you. There's no cost or obligation. We're up-to-date on current rates and all of the new opportunities available - from a wide range of lenders - so we can help you with all of your mortgage details for your next home.
These (above) are just examples of how we can save you on your mortage, and as a result, help you grow your real estate portfolio.