Meet Marie Copeland
Here to work for you not the big banks. Getting you bank or alternative financing for home purchase or refinancing a home mortgage is more than a job. It's a passion to help families and small business owners realize their real estate financing dreams.
Low mortgage payments give you flexibility. Depending on your credit, income and available home equity these loans are offered up to 80% of home value. Here is more home mortgage loan information about equity home buyer loans or refinance a home mortgage tips.
Getting low mortgage payments can be an attractive option. Here is how to get lower monthly payments for your mortgage term:
Increasing your amortization from 25 to 30 years gets you a lower monthly payment on your mortgage. The longest amortization in Ontario is 30 years for home equity mortgage loan which gets you low mortgage payments. Here is a mortgage tip:
With this type of real estate financing you only make interest payments during the term– this means you are not repaying the principal on the mortgage like a traditional amortizing mortgage. Since you are only making interest payments, your monthly payment will be lower, giving you flexibility with your household cash flow.
*Here is an example how low mortgage payments work when the interest rate stays the same (comparing apples to apples):
$400,000 Regular Mortgage
25 year amortization
4% interest rate
$1,902 monthly mortgage payment
$400,000 Low Mortgage Payments
Interest only payments
4% interest rate
$1,321 monthly mortgage payment
You Get Extra $ Cash Flow
You get extra $580 a month, improving your monthly cash flow.
*This example is for demonstration purposes only.
Who benefits from an interest only payments mortgage? Here are examples:
1) Homeowners carrying additional debt who will use these savings offered by lower monthly payment to pay down debt faster.
2) Borrowers with good annual income which is cyclical. They have more income at certain times of the year and want to use their 10% or 20% prepayment mortgage options to make up for lower monthly payments during their slow times by making annual lump sum payments on their mortgage,
3) Interest only payments suit borrowers with goals to improve wealth over the longer term by putting this extra cash into better investment opportunities, rather than repaying the principal on their mortgage.
You may be a homeowner who prefers lower monthly payments to free up some cash flow to save for home renovations, improving your property values... the possibilities are endless.
When everyone has turned you down for a mortgage, click on private real estate loans Hamilton for interest only payments options. Private hard money lenders Ontario offer short term poor credit score home loans with 1 year terms to give you time to resolve your credit problems and rebuild financially.
Marie Copeland FSU, Mortgage brokers Hamilton helping you to get a lower monthly payment with home equity mortgage loans
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*Lenders change their products and interest rates regularly and without notice. Check with us for updates.
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Banks and AAA lenders pay us for your service. Some alternative mortgage financing and all private mortgage lending broker fees are payable by clients.