Mortgage Interest Rates Waterloo
Are you looking for affordable mortgage interest rates in Waterloo? Do you have bad credit, no credit, or are experiencing another unfavourable financial situation that is hindering you from being approved for a mortgage? Well if so, Access Mortgage wants to work with you! At Access Mortgage, we specialize in working with people with less than stellar financial issues find first, second, and even third mortgages, as well as achieving debt relief. We can assist these customers because we represent over 400 private and institutional lenders that specialize in subprime lending. Finding mortgage rates in Waterloo that are personalized for your individual situation is easy when you choose the professionals at Access Mortgage. Read on for more information about finding affordable mortgage interest rates from a mortgage broker like Access Mortgage.
Schedule a call with one of our professional brokers to get Access advice on how you can find mortgage rates in Waterloo that suit your needs.
The global finance system is made possible partly by the cost to borrow money, commonly known as an interest rate. For example, banks and other lenders typically tack on an interest rate charge in return for the loan of their money. A mortgage loan is a good example of a loan of money with repayment terms based on an appropriate interest rate. Many borrowers qualify for low-interest, or prime rate, loans. However, borrowers with lower credit scores often qualify only for subprime higher-rate versions.
Prime vs. Subprime:
The prime interest rate is the lowest interest rate available on bank loans at any given time. Banks and other lenders normally charge their best customers, those with excellent credit, a prime interest rate that’s relatively low. Borrowers with poor credit are generally charged subprime interest rates. A subprime interest rate is generally an interest rate that’s above the prime lending rate. Depending on a borrower’s credit, a subprime interest rate can easily be in the double-digit teens.
Though the subprime mortgage market is off from its heyday in the past, there are still lenders willing to take a chance on credit-challenged borrowers. Access Mortgage can find these lenders and negotiate with them to find mortgage interest rates in Waterloo that suit your needs. If all you can qualify for is a subprime mortgage, take the time to shop for the lowest available subprime rate.
For more information about mortgage interest rates in Waterloo 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.