1 / 8

First Mortgages: - Aman Duggal Mortgage Broker

The first mortgage holder does not get the ownership of the property; he only gets the lien on the same. The borrower is free to do whatever he wishes to do with the property but generally cannot transfer it without obtaining prior consent from the lender. For more information visit: https://www.amanduggal.ca/services/first-mortgages/<br><br>

Amanduggal
Télécharger la présentation

First Mortgages: - Aman Duggal Mortgage Broker

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Amandeep Duggal Mortgage broker

  2. ABOUT US • Amandeep Duggal Mortgage Broker has years of experience supporting his clients and negotiating with mortgage lenders. As your personal mortgage broker, he’ll always put you and your budget first. Whether you’re purchasing your first home with your first mortgage, taking out equity from your home with a home equity mortgage, or refinancing your first or second mortgage, Aman can help you with even your most complicated mortgage needs. Don't go through this challenging process alone. Instead, get the professional and experienced advice you need to make smart, careful and cost-effective buying decisions. Call Amandeep Duggal Mortgage Broker today for a free consultation about your mortgage needs. We will be happy to help!

  3. What We Provide • First Mortgage • Second Mortgage • Private Mortgage • Mortgage Refinancing

  4. First Mortgage A first mortgage is the original and primary loan a home buyer secures to purchase a property. This loan category does not apply only to first-time home buyers. Instead, the loan is first because of its priority position against any other loan that might be taken against the property. In the event of a default, the first mortgage must be paid first.

  5. Second Mortgage When a homeowner has available equity in their property, meaning they have repaid a certain percentage of their first mortgage, they are eligible for a second mortgage as another means of financing. With a second mortgage, the property owner’s home is used as security for the lender, who requires assurance that the borrower is capable of repaying both loans. The new mortgage does not remove or modify the terms of a homebuyer’s first mortgage. And if the borrower defaults or fails to pay either mortgage, the first mortgage must be paid before the second. A second mortgage can be a home equity loan, which means it will have a lower interest rate than a credit card or another loan.

  6. Private Mortgage Mortgage refinancing occurs when you replace the current mortgage or mortgages on your property with a new mortgage, which typically has more favorable terms than the original loan you received. If you choose to refinance your mortgage, you will initiate a new mortgage application process. When approved, the new mortgage is used to repay to original mortgage(s), while you agree to the terms of the new loan. Refinancing your mortgage can be even more complicated than choosing your first mortgage. Before starting the process, you want to be certain your timing is right by regularly evaluating the market rates in your area. You also want to choose the right type of loan that suits your financial situation and refinancing goals, whether it’s a fixed-rate mortgage or an adjustable rate mortgage. After careful research and weighing your options, you will choose the best mortgage refinancing company for your new loan and submit your application.

  7. Mortgage Refinancing A private mortgage is a loan for a homebuyer that comes from a private source, such as a friend, family member, acquaintance or business. They are a popular solution for homebuyers who are not eligible for a traditional mortgage. Unlike traditional mortgages, private mortgages are not issued by a bank or financial institution. Also, while traditional mortgages require a strong credit history to qualify for the loan, private mortgage lenders are much more flexible. If you can pay an adequate down payment, or if you have enough equity in your property, a private mortgage is much easier to obtain. On the other hand, to compensate the lender for the increased risk they assume, private mortgages usually come with higher interest rates.

  8. CONTACT US Name: AMAN DUGGAL MORTGAGE BROKER Address: 6321 King George Blvd #102, Surrey, BC V3X 1G1 Website URL: https://www.amanduggal.ca Cell +1 (604) 227-9694

More Related