Other Features

The market still offers an amortization of up to 35 years to those who have more than 25% down payment. Insured mortgages (of less than 20% down payment) allow you to extend your amortization up to 25 years. If you have the option to go higher in amortization, we’ll consider using it as a flexibility feature, allowing us to grow your real-estate portfolio. In the same time we’ll create a plan for you to pay off your mortgage much faster.
These days almost everything is done via the phone or on-line. It’s important to figure out why you feel the need to have your mortgage with institutions that have a street presence. We work with more than 40 lenders – all of them are solid and well known in the industry, although you may not have heard their names. Banks and credit unions tend to have branches, but the cost of operating these branches is rolled to you. We work with most of them as well as with lenders that give you full service online or by phone. Also, your mortgage is paid automatically, without needing to stand in the line for branch service.
“Skip a payment” is not included in all mortgages but can be frequently arranged when needed. It can be handy in emergencies. Just keep in mind that it’s not for free. You still have to pay the interest accrues in the meantime.
No gifts come for free… Some lenders will charge you a higher rate when you take the “cash back” option. Most lenders will make you repay the entire amount if you choose to leave them midterm. If you choose to work with us, we can calculate how much premium you will actually pay to enjoy the cash back.
This is one of the most important features, as insurance premiums go up as you age. You are encouraged to choose insurance that’s not tied to one lender. Even when you change lenders, your original premium will be kept reflecting the mortgage amount.
With collateral charge the lender registers your mortgage for 100-125% of current property value. When your property rises in value you can borrow more without needing to refinance. However, you should be knowledgeable to the disadvantages: collateral mortgages make it more expensive to change lenders during the term (or even when term ends) and you cannot take a second mortgage. In case of missed payments the bank will have access to all your investment portfolio, both personal and business related, and will be able to take possession to repay the debt.