'What's your best 5-year rate?'
April 12, 2018 | Posted by: The Mortgage Guy Niagara
Simple, right? That used to be the easiest question to answer. Today, however, the answer is 'it depends'.
After years of new mortgage rules, my best 5-year rate is now dependent on so many variables. For instance, whether you are looking to purchase (home or rental property), refinance or renew, whether the mortgage is insured/insurable, and current credit score.
These are all factors that will weigh into the answer of 'what's your best 5-year rate'.
While the mortgage world is now more confusing than ever, that doesn't mean that people can't get into their dream homes, consolidate debt, take out equity, or buy a second property. It just means that if you have an upcoming new mortgage need, we should start earlier. It's already time to talk if you are:
- Thinking about buying another home: moving up, downsizing, or picking up a second home, or rental property.
- Concerned about a large loan or a stubborn credit card balance that is eating away at your cash flow.
- Interested in using the lowest cost funds possible for a renovation, an investment, tuition, wedding, trip, or other major expenditure. While refinancing may be more difficult for some, I have access to other financing options that can help.
- Renewing your mortgage within the next 12-monts.
Reach our by phone or email me at any time to set up a conversation so I can help you prepare for the best possible future.
p.s. If you have any home improvement store purchases coming up, I can offer you a no fee cash-back credit card that will give you 5% cash back on those purchases (to a maximum of $250). I also have a low-rate card that has a 9.9% interest rate and offers 1% cash back on all purchases.