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True North Mortgage has worked with Canadians since 1999 to help them get the best mortgages at the most affordable interest rates. We offer the best resources for True North Mortgage mortgages online. That is because you can find out what you need to know about the company and apply for a mortgage without any trouble when you consider our overview of the company’s products and services, as well as our listing of competitive and low cost True North Mortgage mortgage rates. Continue reading to find out more about the company, and click on the True North Mortgage mortgage interest rate you find appealing to apply for that mortgage.
Mortgage Options for True North Mortgage Customers
There are many different mortgages you can obtain through True North Mortgage. Some of them are available through other brokers, and some are not. Here is an overview of your available options.
• Fixed-Rate and Variable-Rate Mortgages — Standard mortgages that feature either a fixed interest rate or a variable interest rate are the most common mortgage loans in Canada. Such mortgages can be used to purchase a new home, and they are the easiest mortgages for most buyers to understand. If you are buying your first home, you will probably want one of these mortgages, so it pays to understand them. The variable-rate mortgage features an interest rate that may change monthly during your loan term. This affects the amount of your payment every time the rate changes, which means there is some unpredictability with the loan. However, variable rates are often lower than fixed interest rates, which are rates that never change while you are paying your loan. Your principal and interest payments on a fixed-rate mortgage never change, which helps you budget your funds easily.
• Cash Back Mortgages — Cash back mortgages at current True North Mortgage mortgage rates are popular with people who will be short on cash after they pay the down payment on their loan. These loans pay you a percentage of your loan’s principal at closing, but lenders charge a higher interest rate to recoup the money they advance to you when you sign your loan documents. If you will need money immediately to furnish your home or make improvements on your purchase, a cash back mortgage rate is your best option.
• Construction Mortgages — A construction mortgage is designed for those who are building their own home from the ground up. Whether you design the home yourself, hire a builder or work with a building company to buy a newly constructed home, construction mortgages give you flexibility to pay the builder as construction progresses. Construction mortgages include the completion mortgage that pays your builder only when your home is totally finished and the progress draw mortgage that pays the builder in installments as it meets certain construction milestones. Both of these mortgages are available in a variety of formats and interest rate structures.
• No Verification Mortgages — No verification mortgages at the lowest True North Mortgage Rates are much hard to come by these days, but that does not mean they are unavailable. Otherwise known as stated mortgages, these financing solutions do not require proof of income, so they are ideal for self-employed people who cannot prove their income or employment. In most cases, these loans require a much higher down payment than standard mortgages, as banks view them as riskier investments.
• Second Home Mortgages — If you want to buy a vacation home or investment property, a second home mortgage is the product you should choose. This loan helps people secure financing for a second home whether or not they have paid off the mortgage on their primary residence.
•Home Equity Lines of Credit — Otherwise known as HELOCs, home equity lines of credit let you use your home equity as collateral to borrow against. HELOCs enable you to consolidate debt at a lower interest rate than is available on credit cards and personal loans. Typically, people use a HELOC to pay for major expenses such as home improvements, college tuition, weddings and more.
True North Mortgage Benefits
The advantages of True North Mortgage are many, which explains why Canadians use this broker. First, True North Mortgage prides itself in not only securing mortgages but also in providing mortgage education. The company works with buyers through every step of the process to make sure they understand just what they are getting into with their mortgage. True North Mortgage also helps people secure loans that are otherwise unavailable through other mortgage brokers and lenders. Besides no verification loans, which are rare these days, True North Mortgage can also help buyers purchase raw land. The company can also assist international buyers if they want to buy a home in Canada as well as Canadians who want to buy a home in another country.
The True North Mortgage Application Process
Clicking on the best True North Mortgage interest rate on this page takes you to the True North Mortgage application for the loan you have selected. This enables you to get pre-approval. True North Mortgage recommends that you seek pre-approval as soon as possible because it will help you understand just how much home you can afford. If you have already found the home you want, however, applying for a mortgage as soon as you can will speed up the closing process.
As with other mortgage brokers and lenders, you have to provide personal information, income verification (except for no verification loans), a list of assets and debts, and other information that may be requested. True North Mortgage will take your information, look for the best loan to fit your needs and shop your loan around to a number of different lenders to get the best True North Mortgage mortgage rates. You will qualify for a loan quickly if you have good credit, but if your credit profile is less than stellar, you may have to provide additional information. So, it is always a good idea to clean up your credit history before you apply for a mortgage from any broker or bank.
Milestones in the History of True North Mortgage
True North Mortgage is a broker you can trust, as evidenced by its history and other facts about the company. Here are some highlights:
• True North Mortgage has been helping home buyers for nearly fifteen years.
• Originally a company with one office in Calgary, True North Mortgage opened its first mortgage retail outlet in 2006.
• True North Mortgage was founded by experienced broker Dan Eisner, and it has an extensive career mentoring program in place to help new brokers get up to speed on working with home buyers.
Secure a True North Mortgage Today
It is never too soon to apply for a loan through True North Mortgage. To start your application, click on any of the affordable interest rates on this page.
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