Home Purchases
Mortgage Services in Kamloops, BC
Buying a home is a milestone to cherish, and we want you to enjoy the process instead of stressing over finding the right mortgage. At Mortgages by Heather, we are committed to providing exceptional service so that you have everything you need to make a confident decision. When it comes to home purchase mortgages, we find the most competitive prices and present you with multiple options tailored to your financial needs.
Home purchase mortgages are a type of mortgage loan taken by individuals when buying a residence. The loan is borrowed against the value of the property being purchased. Consulting an experienced mortgage broker will help you sift through the options and find what works best for your situation. Every mortgage advisor from Mortgages by Heather is familiar with home purchase mortgages and has helped numerous families find the right financing for their dream home.
These are some of the basic types of home purchase mortgages -
Fixed-rate or variable rate mortgages - While variable rates fluctuate, fixed-rate mortgages are consistent throughout the contract term. This means that the amount you pay every month will remain the same. With a variable rate mortgage, the interest rate is not fixed and can fluctuate over the term of the mortgage.
Open or closed-term home purchase mortgages - An open-term mortgage gives you the flexibility to clear the entire loan or part of it during the mortgage term without a prepayment penalty. However, with a closed-term mortgage, you will have to pay a fee if you choose to pay off your mortgage before the specified date.
Insured or conventional mortgages - Choosing to insure your mortgage will depend on the amount of your down payment. If your down payment is more than 20% of the total value, it becomes a conventional loan.
The type of mortgage you need will depend on your financial needs. Hiring a mortgage specialist to guide you through the process will ensure you understand your options. At Mortgages by Heather, we eliminate the tedious process of comparing prices from different lenders, lengthy paperwork, and scrutinizing every term and condition. We do the work for you, so you get the most out of your mortgage. With years of experience, we help families get the financing they need. Talk to our mortgage agents to understand the type of mortgage that will benefit your situation.
Looking for a home purchase mortgage? We’ll find the best deal for your personal and financial needs.
