A mortgage is a special loan or a credit which you take to buy a property. Because of a long credit relationship with that lender (usually between 25 to 40 years) you receive a substantially lower rate than with any other types of loans such as credit cards, credit lines, etc. In many cases, you can use the benefit of owning a home that builds equity and having a mortgage on it for other financial purposes, such as: debt repayment, renovation, investment, school loan reconsolidation, etc, in that case, it is crucial to find the credit giver.
Rita Tkach is a leader in the industry in terms of approving you with the lowest mortgage rates on your credit. The lowest interest rates are not usually available to you, when you go to the bank directly because there you are on their territory and your advisors work for the bank and not for you. We work hard to find you the best credit in the best terms. That is why we were one of the leaders in 2006 mortgage rates and are carrying this tradition well into 2007.
A mortgage has an amortization period (the entire life of the loan) and a term (the time you are in a contract with a certain lender). When there comes time to refinances after the term is up, other benefits and options come to play.
To get an exact quote for how much you will be paying monthly or to get a specialist advise regarding your mortgage, please contact Rita today.