Vacation Homes2019-04-08T11:27:35-05:00

VACATION HOMES AND SECOND HOMES

First-time home buyers

More Canadians than ever before are spending quality time in their own vacation property.

Build your net worth with a beautiful asset while providing you and your family the perfect spot to relax and unwind. Cottages and other vacation properties are providing family memories for many average Canadians, who are taking advantage of low rates and innovative new mortgage products that put these getaway homes within reach!

RELATED SERVICES

Investment/Rental

Investment properties

Real estate is a very attractive investment choice in Canada. Whether you’re looking to support your mortgage with rental income on a condo property, or profit on a desirable seasonal rental through online bookings, Team Brantford would love to discuss options and strategies for the financing you require for your income property.

READ MORE
New to Canada

Mortgage refinancing

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. At Crescent Mortgage Corp, you’ll see how far the earned equity in your home and property will go towards making your life easier.

READ MORE

Mortgage renewal

If your mortgage renewal is fast approaching, then now is a great time to look at the many excellent options and competitive rates available. This is an important moment of opportunity. This is where an independent mortgage professional like us can help offer advice and options to help you get ahead!

READ MORE

RELATED MORTGAGE CALCULATORS  (Select one below)

Compare Renting to Buying
Calculate Maximum Mortgage Value
Calculate Your Mortgage Payments

RELATED QUESTIONS

What is a down payment?2019-04-01T14:54:14-05:00

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.

Should I wait for my mortgage to mature?2019-04-01T14:55:38-05:00

Lenders will often guarantee an interest rate to you as much as 120 days before your mortgage matures. And, as long as you are not increasing your mortgage, they will cover the costs of transferring your mortgage too. This means a rate promised well in advance of your maturity date, thus eliminating any worries of higher rates. And if rates drop before the actual maturity rate, the new lender will usually adjust your interest rate as well. Most lenders send out their mortgage renewal notices, offering existing clients their posted interest rates. The rate you are being offered is usually not the best one. Always investigate the possibility of a lower interest rate with your lender or another lender. If you don’t, you may end up paying a much higher interest rate on your renewal mortgage than you need to.

What is a conventional mortgage?2019-03-26T12:17:15-05:00

A conventional mortgage is usually one where the down payment is equal to 20% or more of the purchase price, a loan to value of or less than 80%, and does not normally require mortgage loan insurance.

What is mortgage loan insurance?2019-04-01T15:04:58-05:00

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.

How do you use the information you collect from me?2019-04-11T16:32:27-05:00

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.

Which is better: a fixed or a variable rate mortgage?2019-03-26T12:17:15-05:00

Unfortunately, there is no easy answer to this!  First, we have to consider things like current available rates and products, future market expectations, the monetary policy of the Bank of Canada, broad economic factors and, most importantly, your personality. Don’t worry!  We are experts in our field and can help you find the terms that you’re most comfortable with.  We care deeply about our clients and we take time to get to know you personally before making our recommendation. What’s right for one person may not be right for another.

What is a variable rate mortgage?2019-03-26T12:23:11-05:00

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.

What is a fixed rate mortgage?2019-03-26T12:23:11-05:00

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.

What kinds of mortgage products do you offer?2019-04-01T15:13:33-05:00

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.

How much does your service cost?2019-04-01T15:15:54-05:00

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!

My credit isn’t so good. Can you still help?2019-04-01T15:17:05-05:00

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.

Why should I use a mortgage broker? Specifically, why should I work with you?2019-03-26T12:25:25-05:00

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.