What do you do?
Jason Zuckerman works a mortgage broker for Mortgage Architects in Montreal, Quebec. Using his creativity, he offers his clients mortgage solutions that are otherwise not available at traditional banks. Whereas your bank is only offering you their rates and products, a mortgage broker can offer you better rates with multiple institutions. A mortgage broker has no allegiance with one particular bank, so they are working for their clients best interest and not the banks.
A common type of mortgage that people are looking for are purchases of their first home or rental property. Jason will guide you through the process, letting you know what documents you will need, and answer any of your questions. A mortgage broker can also pre-approve you to let you know if you have good credit, and if you qualify for the mortgage you are applying for.
Another common mortgage is a debt consolidation/refinancing. A mortgage broker can consolidate your credit card debt into your mortgage, so that you can lower your monthly payments. When you are paying your minimums on your credit cards, often you are paying just the interest so your balance never drops. Refinancing allows you to start over, while getting into better spending habits.
When your mortgage is coming to renewal, a mortgage broker can transfer your mortgage to another financial institution. People make the mistake of not re-negotiating their rates at renewal. A mortgage broker can get your appraisal and notary fees paid as a courtesy for switching banks....and can offer you better rates as well.
When you need extra money from your mortgage, but your penalty is too high, this can often present a problem. A short term second mortgage solution can be the best way to get you money quickly, without having to pay a penalty to your first mortgage lender. You can usually be at the notary to get your money within a week. Though your interest rates are higher, you can refinance your first and second mortgage together within a year or two.
If you are an investor looking to buy a rental property such as a multi-plex or even a 40 unit apartment building, I can help you get a mortgage for that. There are excellent mortgage rates I can get you for large multi-unit buildings. If you have any questions regarding these types of mortgages, please contact me so I can explain to you in greater detail how they work.