Alberta, Calgary Debt Consolidation by My Mortgage Broker

Archives for April 2017

Alberta, Calgary Debt Consolidation by My Mortgage Broker

Debt is an extremely challenging thing to handle. It can result in more debt and make things worse. At times it is simpler in converging smaller debts into a single large debt which is known as debt consolidation. If you wish to reap the benefits of this miracle, call us at My Mortgage Broker. Our experts are licensed, certified and experienced and thus can help you in every step of the way to help you make an informed decision. People residing in any part of Alberta and Calgary can make the most of our services.

Benefits galore

Some of the benefits of debt consolidation are as follows,

  • Financial Simplicity- any form of debt big or small, can make life more complicated and increase stress level. To consolidate debt into a single loan will help to solve all these problems. Just a single related bill will be received every month that will make the math easier along with nullifying the stress which comes from getting a new bill.
  • Low interest and payment rates- the debts arise from different places a few of them is often through a business which do not specialize in financing like jewelry shops and car dealers. The rate of interest on these debts is likely to be high. But when all these debts are consolidated into one with a minimal rate of interest, the average rate of interest will be reduced and this in turn will make the sum owed monthly quite low.
  • Set financial goals- during a debt situation to find a goal can be hard. There are lots of bills with each having its respective goal related with it. It is here where debt consolidation can help by creating one goal which gets closer each month. Although this may take some effort and time, but the debt eventually will be paid off in total.

To know more call us today.

Alberta, Calgary Debt Consolidation by My Mortgage Broker saves you money and hassle. Contact us today for more details!

HELOC in Alberta and Calgary

If you have equity in your property you have several refinance options. A HELOC (Home Equity Line of Credit) is one of them. My Mortgage Broker (Verico) can help you with a HELOC refinance plan in Alberta or Calgary.

If you have enough equity in your home the you will likely qualify for a home equity loan. You can use a HELOC for home improvements, to pay off high interest debt, to pay for a holiday, for a grand child’s education, to buy a boat, for emergency funds or basically whatever you want.

A HELOC is special type of home equity loan. IT has 2 phases – the first is the draw period. The draw period is normally 10 years but sometimes can be longer. During this period, you can draw funds as agreed and you only need to cover the interest.

The second phase is the amortization period during which you pay interest and capital. Basically, you begin paying the loan back. This is when the monthly repayment can jump a lot. The more you owe, the bigger the jump in payments.

You can also refinance a HELOC to delay the amortization phase. You can refinance a HELOC with a new one, with a fixed payment home equity loan or a new primary mortgage loan.

There are many considerations when it comes to a home equity loan such as a HELOC. You must weigh up all the costs such as closing costs, monthly repayments, alternative costs and so on. Home equity loans generally have lower closing costs but higher interest rates than primary mortgage loans.

It is a good idea to consult with an experienced and reputable mortgage broker such as My Mortgage Broker (Verico) before committing to a HELOC or other type of home mortgage.

Best Mortgage Broker in Alberta and Calgary

If you are looking for the best mortgage broker in Alberta or Calgary, then you don’t need to look further than My Mortgage Broker (Verico). When you deal with a reputable mortgage broker you can expect attentive and personalised service as well as best mortgage rates and conditions.

 

Buying a new home is a life changing decision that involves a substantial amount of money. It is a good idea to have the best mortgage broker on your side from the start. A good broker will help you make the right decisions and get you the best deals.

 

A mortgage agent who has worked for banks as a mortgage specialist has the inside take on the whole process and fully understands all the intricacies involved. When you have the best mortgage broker batting for you can expect fast and effective results. Results such as pre-approved mortgage, no down payment, lowest possible interest rates, lowest closing fees and more.

 

Buying a new home requires several careful steps. A pre-approved mortgage is one of the first steps. This puts buying power and negotiating power in your hands. A professional broker such as My Mortgage Broker (Verico) can help get you a pre-approved mortgage.

 

Maybe you already own a home and thinking about home improvements. Or maybe you just wat to explore refinance options. You may well qualify for a second mortgage to finance home improvements or you could get a refinance mortgage at a lower rate. Maybe you are a senior citizen and want to utilise the equity in your home for retirement purposes. A broker can help you with a reverse mortgage. You can also use a home equity loan to pay off high interest debt.

 

When you want the mortgage deals it helps to work with the best mortgage broker in your area.

Show Buttons
Hide Buttons