The main objective of any mortgage borrower is to pay down there mortgage as soon as possible. Naturally coming up with the money to do this is not that easy. Two ways to chip away at your mortgage is to take an accelerated payment frequency and take advantage of the automatic payment increase allowed on your mortgage by your mortgage lender. Here is an example.
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Pay down your mortgage faster !
Why Use a Mortgage Broker ?
If you asked your bank representatives how are fixed and variable mortgage rates calculated and did not know how to answer your question, what would you think? If you asked your bank representative how they calculate their fixed rate mortgage penalties and they did not know, would you still want to work with them? Majority of people still do.
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Mortgage Tips
The current market rates are low and definitely to take advantage of. Here are a few mortgage tips you may want to consider with your current mortgage and save money for the future.
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Important documents you need when applying for a mortgage
Once you have taken the first step and sent in that application to your mortgage broker, the next step is to gather documents to make a strong file for your lender. Every file is unique and may require different documents, but here is an overview on the standard documents required for applicants to provide to their broker and lender.
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Don’t sign that mortgage renewal before you speak to a broker !
Typical process for a renewal is you will receive a letter in the mail anywhere from 120 to 30 days prior to your maturity date. The bank will offer you a rate that may be lower than the posted rate but is typically much higher than the current market rate. Most of us will sign the renewal and send it back just to avoid the hassle of more paper work, but is that the best option for your bank account.
Read More
Pay down your mortgage faster !
The main objective of any mortgage borrower is to pay down there mortgage as soon as possible. Naturally coming up with the money to do this is not that easy. Two ways to chip away at your mortgage is to take an accelerated payment frequency and take advantage of the automatic payment increase allowed on your mortgage by your mortgage lender. Here is an example.
Read More
DON’T SIGN THAT MORTGAGE RENEWAL BEFORE YOU SPEAK TO A BROKER!
Typical process for a renewal is you will receive a letter in the mail anywhere from 120 to 30 days prior to your maturity date. The bank will offer you a rate that may be lower than the posted rate but is typically much higher than the current market rate. Most of us will sign the renewal and send it back just to avoid the hassle of more paper work, but is that the best option for your bank account.
Read More
Why Use A Mortgage Broker?
If you asked your bank representatives how are fixed and variable mortgage rates calculated and did not know how to answer your question, what would you think? If you asked your bank representative how they calculate their fixed rate mortgage penalties and they did not know, would you still want to work with them? Majority of people still do.
Read More
Mortgage Tips
The current market rates are low and definitely to take advantage of. Here are a few mortgage tips you may want to consider with your current mortgage and save money for the future.
Read More