What is a Mortgage?
A mortgage is a legal agreement between a borrower and a lender. The lender is typically a bank or mortgage broker. In the case of the former, the borrower is subject to the mortgages available from the one lender i.e. the bank. In the case of the latter, a mortgage broker can shop around for the best rates and terms on behalf of the lender. A mortgage is a loan offered to the borrower with interest rate terms and conditions and in exchange for the title of the debtor’s property, wherein that conveyance of title becomes void upon the payment of the debt.
Mortgages are typically held for a very long time, even decades! For most people, it is the biggest and longest loan they ever take out!
When the question of buying a property or an estate arises, most of the people will need to go to an Independent mortgage agent or are likely to discuss their requirements with a mortgage advisor. The process of buying as finding a suitable mortgage can be a tiring job and consume a lot of valuable time.
Who is an Independent mortgage agent?
A mortgage broker is an intermediate person, hired by a client or customer who requires a mortgage, where the broker negotiates this mortgage loan with multiple lenders to find the optimal mortgage for the borrower. A mortgage broker is a firm or a person who is licensed to deal in mortgages and employ mortgage agents. It’s important to realize that the mortgage broker is working on behalf of the borrower! Centum Mortgage Express is a mortgage brokerage company.
A mortgage agent is an individual authorized to deal in mortgages on behalf of a mortgage broker. A mortgage agent will find the best mortgage for a client based on that client’s income, credit, credit rating and property profiles.
Rhonda Schmidt, Centum Mortgage Express Ltd in Ontario, Canada has electronically accesses to over 40 lenders and successfully delivers the best mortgage rates and mortgage terms for her customers to ensure that they receive the best combination of interest rate and mortgage terms relative to their unique personal situation. It’s important to understand that there is a LOT more to mortgages than just the interest rate!
It is also very important to ask for the payment mode and fees of a mortgage agent before hiring the service.
As a Centum Mortgage Agent, Rhonda has a vast array of industry knowledge of mortgage financing, offers unbiased advice on mortgage deals and searches to find the best possible solution for her customers.
Services offered by Rhonda Schmidt include:
• First time home buyer mortgage loan: Educating the first time home buyers to become home owners by providing the required mortgage plans and assisting them in the mortgage process.
• Home purchase mortgage: Provide the best mortgage rates and favorable loan terms after conducting a market research on over 40 mortgage lenders.
• Reverse mortgage: This is a type of home loan available mainly for the older homeowners which requires no monthly mortgage payments and the mortgage loans is repaid back with the death of the borrower or if the home is sold.
• Mortgage refinance: Refinancing mortgage to explore the best mortgage interest rates to reduce the monthly payments after analysing the client’s current mortgage situation.
Benefits of choosing Centum Mortgage Agent:
• Hiring the services of an Independent Mortgage Agent saves time and money as the independent agent has access to wide and diverse range of over 40 mortgage creditors and influential mortgage brokerages.
• Mortgage advisors do all the fieldwork and paperwork which saves the homeowner search time.
• The agent has an in depth knowledge regarding the current mortgage market scenario, negotiates with multiple lenders to find the most suitable mortgage rates depending on the client’s financial capability. The agent tracks the market and understands the current market climate.
• Having access to a wide range of competitive lenders, utilizing an independent mortgage agent increases the chances of getting pre approval of a mortgage easier and quicker and will help ensure the lender gets the best mortgage rate and terms available at the time
• Mortgage brokers are fairly compensated by the lenders so they offer home loan services free of charge to the borrower.
Your Centum Mortgage Agent offers to you expert and unbiased advice regarding property investment finance, mortgages and borrowing in general. Your mortgage agent is working in the interests of the borrower!
Let us help you to find your ideal home.