Logo-Andrew-Thake
Menu

Archives: FAQ'S

What Options to Look for Along with an Interest Rate?

April 19, 2021 
It’s good to make sure that your mortgage broker in Ottawa is reviewing the options of each mortgage with you. These options can include the ability to pay the mortgage off faster and the ability to refinance. Also, the penalty calculation the lender uses, the ability to port the mortgage and so on.Learn more: Prepayment, Porting […]

Should I Choose the Lender with the Lowest Rate?

April 19, 2021 
The lowest rate is not always the best option. Depending on your unique financial circumstances and goals this can affect the type of mortgage, lender and rate. As with many promotions you typically will see the lowest rate advertised. For example, walking past a store in seeing up to 70% off. Often however you will […]

What is a Mortgage Interest Rate?

April 19, 2021 
A mortgage interest rate is a rate that is charged on the principal amount of the mortgage. The principle of the mortgage is the amount that you are borrowing. They’re quite a few factors that go into determining a mortgage rate. In general, fixed rates are affected by the bond market and variable interest rates […]

What Are the Benefits To Using a Mortgage Broker?

April 19, 2021 
One of the biggest advantages to using a mortgage broker is their expertise. Plus, their access to great rates at many lenders.Each broker however will have their own amount of skills and experience. This experience in packaging and presenting your application to a lender can therefore vary from broker to broker. This can make the […]

When Should You Contact a Mortgage Broker?

April 19, 2021 
In short, if you are thinking you need a mortgage, it’s best to reach out to them as soon as possible.Connecting with an Ottawa mortgage broker early in the process, assists with making your experience stress-free and can align you with savings faster. As a mortgage broker can help you, from the review your pre […]

Why Should You Use a Mortgage Broker?

April 19, 2021 
This section focuses on the credentials of a licensed and trained mortgage professional.They are licensedTo become a mortgage broker in Ontario you need to take a course, pass an exam and have a license. There are also ongoing courses that a mortgage broker needs to complete.They are true experts in their fieldA good broker has […]

What Are Mortgage Brokers?

April 19, 2021 
Traditionally one would visit their bank to learn about a mortgage. However, with the increased popularity of working with a mortgage broker, getting a mortgage from the bank is becoming less popular.A mortgage broker is now a more familiar representative between you, the borrower, and the bank or lender.A borrower is a person like yourself […]

How are Interest Rates for Mortgages Determined?

April 19, 2021 
I get asked frequently when first talking to a client, “What are your rates?”  This question is perhaps similar to a person calling a grocery store and asking, “What are your prices?”  This question may come up often, as with a client’s bank there are only a few mortgage options to choose from. Fortunately, there are […]

What Are the Best Mortgage Rates in Ottawa?

April 19, 2021 
Compare some of the best mortgage rates in Ottawa and Ontario from a large range of Canadian lenders. Contact me today to get expert guidance and to see if I can negotiate a lower mortgage rate. Although most lenders post their rates publicly, sometimes you may not get the lowest mortgage rate you have seen […]

What Does a Mortgage Broker Do?

April 8, 2021 
When applying for a mortgage, an Ottawa mortgage broker acts as the middle person between the lender and you. They review your goals and needs and compare different mortgage products from multiple lenders on your behalf. They assist with the application process all the way to the closing date. Plus they are there to assist […]
1 2