With our assistance, you’ll soon find that mortgages aren’t as confusing as they may seem.
If you are confused about mortgages, you aren’t alone. With so many different types, terms, rates, and other things to consider, it isn’t just a matter of completing an application and hoping you get approved. Here at BRM Lending, we provide the answers you need, and as your mortgage broker, we work for you to get you the results that best complement your financial goals in Collingwood, Ontario. The four major categories of mortgages include first and second mortgages, refinancing or renewing, and a home equity line of credit.
- First Mortgage- A first mortgage is used to secure a new property, whether that is your personal residence, a vacation home, investment property or commercial building. When you are just getting started on a 15- or 30-year mortgage, it is important to get the best rate. Let us put our negotiation skills to work for you to save you thousands over the life of your mortgage.
- Second Mortgage- A second mortgage is designed to turn the equity you have in your home into a lump-sum cash payment you can use for a wide variety of options. We’ll discuss your financial goals and provide you with the right solutions to achieve them.
- Refinance- Whether it is time to renew your mortgage or you want to refinance to more favorable terms, we’ll handle the negotiations for you so you’ll gain the most benefit for the long-term.
- Home Equity Line of Credit- If you do not need to draw the entire amount of the equity in your home at once or your need for cashflow is short-term, a home equity line of credit can make more sense than a second mortgage. This type of loan lets you pull money as you need it and pay it back based on the terms of your loan.
If you have additional questions about mortgages or would like us to act as your mortgage broker to obtain one of these types of mortgages, don’t hesitate to contact us.