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Obtaining Competitive Mortgage Rates Can be Easy

Getting the best loan rates for your home financing does not have to be difficult, and Canadian Mortgages Inc. can help you secure the most favourable terms and most competitive interest rate for your desired mortgage solution. Because financial circumstances can often prevent you from being eligible for optimum loan rates, it is important to talk to a trusted and knowledgeable CMI mortgage broker, who can find you the best rates, help you qualify for lower rates, and tell you other ways you can reduce the amount of interest you will pay on your mortgage.

Personal Finances Can Prevent You from Getting the Best Loan Rates

CMI mortgage brokers have years of training and experience getting the lowest interest rates for clients who are considered high-risk borrowers, which is determined by factors such as:

  • Your current financial situation
  • Your credit history and score
  • Past financial troubles such as extreme debt or bankruptcy
  • Your level of income
  • Your employment status

CMI’s vast network of private and non-traditional lenders includes groups, corporations, and even individual investors who are willing to approve low-interest mortgages for borrowers who are facing financial difficulties.

Measures You Can Take to Qualify for the Best Interest Rates

CMI offers free consultations where you can learn different ways to improve your credit rating and economic circumstances. Your credit score is one of the most influential factors that will determine the interest rate on your mortgage, so improving a low credit rating will eventually save you thousands of dollars worth of interest payments. It only takes a few months to see these improvements, which you can ensure by:

  • Paying all your bills on time
  • Reducing the amount of debts you have
  • Ensuring your credit bureau is accurate, as mistakes on your record can have huge impacts on your score

The accredited Toronto mortgage agents at CMI can help you increase your credit score by looking at your personal finances, and offering help and advice with things like:

  • Budgeting your income
  • Accounting
  • Lowering your monthly expenses
  • Reorganizing and consolidating debt

Furthermore, our brokers can also help you create a mortgage repayment schedule that will accommodate your income and other debts, and allow you to repay your mortgage at a comfortable pace.

Other Ways to Lower Your Interest Payments

If you are in a situation where you require mortgage financing immediately and do not have time to improve your credit rating beforehand, ask your CMI mortgage broker about other ways you can reduce your interest costs. These methods include:

  • Choosing a shorter amortization period and higher regular payments
  • Making weekly or bi-weekly payments instead of monthly or quarterly ones
  • Taking advantage of annual lump sum payments

Regardless of your current financial situation or economic past, CMI’s professional mortgage agents will find you the most favourable interest rates for your home financing, and can even find you ways to become eligible for the best loan rates, so you can save for a bright financial future.