Best Mortgage Rates Kitchener – Access Mortgage
Getting the best mortgage rates in Kitchener depends on proving to lenders that you’re worth the money you’re asking. Lenders don’t make money if they don’t lend money, but they also don’t want to risk non-repayment, so they’re selective about who they lend to, and how much. Access Mortgage specializes in working with people who have unfavourable financial situations, who already own a home, to find first, second, and even third mortgages. If you are experiencing hard financial times where you are in debt to multiple creditors, you have unprovable income, or another financial reason keeping you from getting a mortgage, Access Mortgage wants to work with you!
A fixed-rate mortgage is a mortgage that has a fixed interest rate for the entire term of the loan. The distinguishing factor of a fixed-rate mortgage is that the interest rate over every time period of the mortgage is known at the time the mortgage is originated. The benefit of a fixed-rate mortgage is that the homeowner will not have to contend with varying loan payment amounts that fluctuate with interest rate movements.
Variable rate mortgages are attractive because they usually have a low interest rate for an initial period of a few years, and that initial rate is usually less than the rate on a fixed rate mortgage. This interest-rate difference can yield significant savings for borrowers at the beginning of the mortgage term. However, once the introductory period ends, the rate will move up or down as market interest rates change. Interest rate increases can be problematic for borrowers with variable rate mortgages. In a worst-case scenario, the mortgage payments can become so unaffordable that the homeowner defaults and eventually loses the home to power of sale.
These are just a few different types of mortgages that are common with homeowners. If you are facing an unfavorable financial situation that is hindering you from getting a first, second, or third mortgage, Access Mortgage wants to work with you. We will search through our network of over 400 lenders that we represent to find you good mortgage rates in Kitchener for your individual situation.
For more information about mortgage rates from Access Mortgage, please feel free to continue browsing through our website. We can be reached at 1-844-397-3780 or by filling out our contact form.