CONSOLIDATE DEBT NOW BLOG

Archive for the ‘mortgage broker’ Category

In today’s competitive housing market, there are so many lending options available that many Canadians are reticent to inquire about home loan refinancing. The process can be so convoluted that many homeowners cannot be bothered to find out how to refinance their home mortgage to lower their monthly payments or to consolidate outstanding debt. If they do decide to take out a home equity loan or modify their mortgages, they do so with the same lender instead of shopping around for a better rate. Many do not realize that taking the time to shop around could result in a lower rate and better terms. The bottom line is, complacency costs money.

Consulting a mortgage broker can be a prudent option, rather than staying with one of the top national banks. Questionable financial circumstances are no longer the obstacle they once were; bad credit mortgage loans are becoming easier to obtain. There are many more options now than there were a scant few years ago.

Present day lending statistics show that 25 percent of all mortgages are being arranged through mortgage brokers, with 40 percent of them being first mortgages. Despite these encouraging numbers, consumers are still exercising caution by not obtaining as many quotes as they should. Almost half of new applicants only obtained a single quote or none at all, while 24 percent obtained two quotes. A scant 18 percent got three. Many are also hesitant to take on a variable rate mortgage, choosing to stick with a five-year fixed rate loan. Only 29 percent of Canadian home owners have cheaper, variable rate mortgages, and only 4 percent chose to go with a combination home mortgage loan.

We understand that these decisions can be daunting, but working with a mortgage broker can definitely help save any homeowner money on their home mortgage. We walk you through and thoroughly explain all the options, so you understand what you are getting, and keeping more of your hard-earned money in your pocket.

Whether you have bad credit, no credit or are new to Canada, our mortgage brokers can help you obtain debt consolidation loans, a bad credit mortgage, or your first home mortgage. Getting the details has never been easier. Our qualified mortgage brokers are standing by to help. Call 1-866 668-6570 now, for more information.