Convenient Residential Mortgage Solutions in Bradford.
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Making Your Home Ownership Dreams Come True
A residential mortgage is an extremely crucial and long-term commitment for both you and your family. It’s not just about getting the lowest interest rate or finding a lender close to your home. You have to consider a lot of factors before making that decision and Mortgage Power CA can help you with everything you need. Let us help you in finding the right mortgage solution for your home in the Bradford area.
There are mainly two types of residential mortgage solutions offered in Canada. A traditional residential mortgage and a Collateral mortgage. The experienced brokers at Mortgage Power CA can help you in determining which type of residential mortgage suits you the best.
What is the Difference Between a Traditional mortgage and a Collateral mortgage?
The traditional residential mortgage comes with a set of terms for the mortgage such as the principal amount, interest rates, the length of the term, the amount payable as a premium etc. If you wish to borrow more money, you will have to get a new mortgage loan or replace the existing one with a new mortgage.
Collateral mortgage, on the other hand, allows you to use your home as security for more than one loan and borrow more funds. The catch here is, the total amount you owe should be less than the principal amount of the mortgage.
We can help you with:
First-time buyer mortgage
Renewals and switches
Refinancing or home equity loans
Renovation loans and more
Benefits of a Residential Mortgage
Most of the residential mortgage options allow you to borrow up to 90% of the home value
A HELOC (Home equity) allows you to borrow 65% of the home value but you can combine it with your mortgage to borrow up to 85%
Both new purchase and a refinancing mortgage option allows amortization up to 30 years
Most of the first-home buyer mortgages allow a “borrow-as-you-pay option
Confused with the big terms and information? Worry not! When you choose us for your mortgage needs, our brokers will guide you through the entire process, answering all your questions and identify the perfect mortgage solution for you. Call us today to learn more about our services in the Bradford area and how you can get approved for your mortgage without a credit check or application.
Get Competitive Mortgage Rates With Us
At Mortgage Power CA, we strive to ensure that you get the best mortgage rates and terms and find an ideal residential mortgage solution. With us, you can rest assured of quality, convenient services and complete guidance. We guarantee you that you will have a smooth, hassle-free homeownership experience. Get in touch with us today to know whether you qualify for a residential mortgage or not.