Use the money in your home to pay off high-interest debts and be mortgage-free faster.
Refinance up to 80% of your home’s value quickly and easily to pay off high-interest credit card debt that has caused your cash flow to slow to a trickle. Worried about penalties? Don’t think it can make much difference? Think again. By using your home equity to consolidate your debt, you can improve monthly cash flow, have one easy payment, and reduce the time it will take you to be mortgage-free.
RELATED MORTGAGE CALCULATORS (Select one below)
Very few home buyers have the cash available to buy a home outright. Most of us will turn to a financial institution for a mortgage, the first step in a potentially long-standing relationship. But even with a mortgage, you will need to raise the money for a down payment. The down payment is that portion of the purchase price you furnish yourself. The amount of the down payment, which represents your financial stake, or the equity in your new home, should be determined well before you start house hunting. The larger the down payment, the less your home costs in the long run. With a smaller mortgage, interest costs will be lower and, over time, this will add up to significant savings.
Mortgage loan insurance is provided by Canada Mortgage and Housing Corporation (CMHC), a crown corporation, and GE Capital Mortgage Insurance Company, an approved private corporation. This insurance is required by law to insure lenders against default on mortgages with a loan to value ratio greater than 80%. The insurance premiums, ranging from .50% to 3.75%, are paid by the borrower, and can be added directly onto the mortgage amount. This is not the same as mortgage life insurance.
In the majority of cases, we will know within 24 hours whether your application has been approved by a specific lender. If there was some kind of delay, we would notify you of this within the 24 hour period.
Any information we collect from you is private and confidential. It is only used for the purpose of attaining approval for mortgage financing from a specific lender. We have state-of-the-art onsite security and use high-level file encryption for all stored documents. Moreover, Alan Dunlop is licensed by the FSCO and holds a PFP designation from CSI. He strictly adheres to the regulations, standards, and code of ethics of both institutions.
This is a mortgage product where your interest rate is dependent on the lender’s prime rate for the duration of the term. The lender’s prime rate is often different, yet directly correlated with the Bank of Canada’s prime rate. Some lenders offer specialty variable mortgages, which may include features such as a cap rate, fixed payments and the ability to fix your rate with a guaranteed discount at any time. Contact us to discuss the specific details of variable mortgage products.
This type of mortgage offers a fixed rate and payment amount for the duration of the term. As straightforward as this sounds, there can be different types of terms and rates. We would be happy to discuss the intricate details with you.
As a mortgage agent working under Crescent Mortgage Corp, we have access to hundreds of different mortgage products through both bank and non-bank lenders. One of our key competitive advantages is that we put a lot of effort into understanding the various products and keeping up to date with new developments. Our application process involves getting to know you. We can therefore not only get you the best possible rate, but we can also recommend mortgage solutions with terms that work for you.
We are happy to say that, in the vast majority of cases, our service and advice is completely free. Ultimately, it is the lender that pays us a fee for the work we do. We therefore encourage you to take advantage of what we offer, without having to worry about yet another expense!
Yes, we can help. With access to a wide variety of different lenders, in most cases we can find a suitable financing solution. Our background in banking and lending means we can provide advice on how to improve your credit score.
All of us here at Crescent Mortgage Corp work for you… not the banks. That means, unlike the banks, we can access a broad range of mortgage lenders to find the best rate for your particular situation. When our clients are happy, we’ve done our job. In essence, your best interests are in our best interests.