Mortgage Broker In North Vancouver

Down payment, income, credit history and loan-to-value ratio are key criteria lenders use to approve mortgages. The First-Time Home Buyer Incentive reduces monthly mortgage costs through co-ownership and shared equity. Hybrid mortgages combine elements of fixed and variable rates, for example a fixed term with fluctuating payments. Variable-rate mortgages allow borrowers to lock into lower…

Mortgage Loan Insurance is needed for high ratio buyers with below 20 percent advance payment. Mortgage brokers below the knob on restrictive qualification requirements than banks so may assist borrowers declined elsewhere. Mortgage brokers can offer more competitive rates than banks by negotiating lower lender commissions for borrowers. Mortgage terms over five years have prepayment…