Whether you’re looking for a first mortgage, refinancing your current home, mortgage renewals, new construction or turn-key financing, or just researching your options, I’m here to help.
Need a new mortgage? I’ll help you pick the right fit for you and your budget. From start to finish, I’ll walk with you through the process, and give you proper professional advice, and look for all ways to save your hard earned money!
When it comes time to renew your mortgage, I’ll help you review your options and make the renewal process simple and easy.
Sometimes, refinancing is your best option for a variety of reasons. Let me review your options and do the hard work for you!
I am one of very few brokers in NS who can offer Reverse Mortgages to my clients. A reverse mortgage is a mortgage loan, usually secured over a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments.
Think outside the branch
I will provide you independent expert advice on your financial options. I am not tied to a specific lender or products so I can offer you mortgage products that will best match your specific needs.
Instead of spending your valuable time meeting with competing mortgage lenders, I can quickly narrow down the list of lenders that will help you achieve your financial goals. I will make your comparison-shipping fast, easy, and convenient.
There’s absolutely no charge for my services on typical residential mortgage transactions. Like many other professional services, such as insurance brokering, mortgage brokers are paid a finder’s fee when we introduce dependable clients to a financial institution.
Types of Mortgages
A fixed mortgage offers you the security of locking in your interest rate for the term of your mortgage, so you know exactly how much principal and interest you will be paying on the mortgage during the term. Terms range from 6 months to 10 years. Fixed rate mortgages offer some form of pre-payment, from 10% to 25% of the original mortgage balance each year, depending on the lender. If you wish to pay off your mortgage in full, there will be a penalty of either 3 months simple interest, or an Interest Rate Differential (IRD). The benefit of this mortgage is the rate is lower than an open mortgage, making it a more popular option if you have no plans to pre-pay it in full during the term you select.
A variable-rate mortgage allows you to take advantage of today’s low Prime Rate. Most variable rate products are set below prime, terms range from 1 to 5 years. Payments vary depending on the product or lender you choose. In some cases you can fix your payments for up to 5 years, but the interest rate will fluctuate as the Bank Prime Rate changes. In other cases your monthly payments will fluctuate depending on how many times the Prime Rate changes during your term.
An open mortgage allows you the flexibility to pay off some or the entire mortgage at any time, without penalty. Interest rates are usually higher and are tied to the Bank’s Prime Rate.
A secured line-of-credit allows you to access the equity in your home whenever you choose. Rates are tied to prime, usually slightly above prime. Required payment on the balance is interest only, making it a good choice where cash flow may be important. Lower interest rates compared to an unsecured line of credit. You may have a secured line of credit and a mortgage, if you have good equity in your home.
The Rates, Today
Because I work with a wide variety of lenders I can access competitive, lower-than-advertised interest rates. Check back often to see how these rates compare to average bank rates.
How much can you afford?
Use this mortgage calculator to help you figure things out.