Family Lending mortgage rates are some of the best in the mortgage industry, which helps explain why so many people trust this mortgage broker when they need a home loan. You have come to the top site for information on Family Lending and help with securing a home loan from this brokerage. It is easy to select the mortgage interest rate you want when you use our tools and apply for a mortgage from Family Lending. Make sure you understand the following information, then click the interest rate you find most attractive to apply for a Family Lending mortgage.
Family Lending Mortgage Solutions
Family Lending is not a bank, so you do not actually borrow money from the brokerage. Instead, Family Lending mortgage representatives work with several different banks that compete to give you the lowest mortgage rate. In this process, Family Lending can help you get mortgage products such as:
• Variable-Rate Mortgages — Are you looking for the best Family Lending mortgage rates? The chances are good that you will find them on an open or closed variable-rate mortgage. Rates on your variable-rate mortgage may change each month, causing your payment to change as well. However, you can work with Family Lending to get variable-rate mortgage products that set a limit on rate increases or allow you to refinance into a fixed-rate loan when current variable rates make you uncomfortable.
• Fixed-Rate Mortgages — If you like to plan ahead, fixed mortgage rates are probably the best choice for you. Since the interest rate never changes on a fixed-rate mortgage, you always know what your principal and interest payments will be during your loan term. You can get a rate discount when you choose a closed fixed-rate mortgage, but you will not be able to pay it off early without incurring additional charges. The open mortgage has a higher fixed interest rate, but you can pay it off before the end of your loan term without worrying about a penalty.
• Interest-Only Mortgages — Those who expect their home to appreciate quickly and want to resell it should consider an interest-only mortgage. You pay only the interest on this type of mortgage, not the principal as well. This reduces your monthly mortgage payment, but you do not build equity in your home. This is not a worry if you will resell as soon as your house appreciates, but it could be an issue if you plan to stay in your home for some time. Moreover, if you need a home now, cannot afford a payment that includes principal and interest, and know that your income will soon increase, an interest-only mortgage may be good for you.
• Debt-Consolidation Mortgages — Home equity lines of credit fall under the category of debt-consolidation mortgages, as do refinancing options that allow you to borrow enough money to pay off your existing consumer debt. When you consolidate your debt with a low-interest mortgage, you end up saving a great deal of money over time on interest payments.
• Investment-Property Mortgages — An investment-property mortgage is used to buy a home that is not your primary residence. If you want a vacation home, a home that you will rent to others to supplement your income, or a second home of another kind, this is the right mortgage for you.
How Do I Know if Family Lending is the Right Broker for Me?
You have many mortgage brokerages to choose from in Canada, so how do you know whether Family Lending is the right mortgage broker for you? Well, understanding the things that set Family Lending apart from other mortgage brokers will help you make your final decision. Here are some advantages that Family Lending offers to its clients:
• Family Lending works with more than thirty different lending institutions in Canada to offer you the lowest Family Lending mortgage rates.
• Family Lending specializes in providing mortgages to those whom other brokers and banks have denied.
• Family Lending helps both residential buyers and commercial companies that want to purchase real estate.
• Family Lending helps retirees and others to secure their financial future through reverse mortgages from the major banks in Canada.
• Family Lending can also help home buyers with products such as mortgage default insurance.
Working with Family Lending to Obtain a Mortgage
Applying for a mortgage through Family Lending is relatively simple as long as you can verify your income, provide information on your property, and give the broker what it needs to get you the best deal on a mortgage. Essentially, you will fill out a mortgage application. Then, your credit history will be verified and a mortgage representative from Family Lending will contact you to help you finalize your application and select the right mortgage product for your needs. Finally, Family Lending will shop your information around to several different lenders and secure the best rate for your mortgage.
The main thing that makes the Family Lending application process different from other mortgage brokers is the variety of application possibilities you can choose from. If you are pressed for time, a three-minute application is right for you. You can also choose a lengthier and more complex application. There are other application options to choose from, and you can access any of them when you click on the mortgage rate on this page that interests you the most.
Family Lending and its History
Before you decide whether you should take advantage of current Family Lending mortgage rates, you should know a little bit more about the brokerage. Here are some highlights from its history:
• Family Lending was Canada’s first online mortgage broker.
• Family Lending is part of a family of companies that also includes a realtor and financial planning company.
• Family Lending provides resources to help you at every level of the mortgage process.
Your Family Lending Mortgage
It has never been easier to get an affordable mortgage from Family Lending. All you have to do is click on the mortgage interest rate that you want on this page to begin the application process.
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