Mortgage Broker Surrey

Home Mortgage

Buying a property? Our most common service request is for assistance on home mortgages. Generally speaking, a mortgage loan is the biggest long-term liability in a person’s budget, and getting the best possible rate is fundamental to a homebuyer’s long-term financial success.

At Surrey Mortgage Brokers, we take your specific needs into account and build a custom mortgage strategy that leads to approval and the most economically efficient terms. Call us today to talk with one of our mortgage specialists: (604) 357-2091.

Mortgage Refinancing

Want to change or adjust your payments? There are many reasons to refinance your home. The top five reasons people contact us are listed below:

1. You want to stabilize your payments by changing from a variable mortgage rate to a fixed mortgage rate.
2. You have improved your credit score and can reduce your payments with a better credit score.
3. You have other debts and wish to consolidate them into one mortgage.
4. You wish to do home renovations and you want to draw equity out of your mortgage to pay for these upgrades.
5. You wish to make an external investment by unlocking some equity from your home.

With refinancing, you can typically draw up to 85 percent of the value of your existing home minus the current mortgage. When you are refinancing it is important to refinance efficiently with consideration to potential future interest rates. Recent innovations and structured products in the mortgage market may provide you with other opportunities than were available at the time of your last mortgage commitment. One popular option is to have the mortgage penalty included in the new mortgage to make it easier to set up.

Contact our mortgage specialists today at (604) 357-2091 for a free initial consultation. We can determine if a refinancing is right for you, among many potential options.

Mortgage Renewal

Is your mortgage up for renewal? We offer a wide range of competitively priced fixed and variable rate mortgages.

Surrey Mortgage Broker can offer you an array of options to make your mortgage more efficient and convenient. Call us today to talk to one of our mortgage specialists: (604) 357-2091.

Home-Equity Line of Credit

A home-equity line of credit is a form of revolving credit where one’s home serves as collateral. With a home equity line, credit approval is based on a calculation on the percentage of the home's appraised value subtracting the balance owning.

This will be done with terms on a fixed period in which you can borrow the money. Once the fixed period, usually 10 years, ends, you may be able to renew your line of credit, extending it for a second term.

Debt Consolidation Loan

Consolidation can be one of the most powerful tools in debt elimination.

If you are carrying debt on several credit cards, a car loan, a line of credit and a student loan, combining them into a single payment can reduce the money being lost to interest on each debt. Consolidation can also lower your overall interest rate.

Call Surrey Mortgage Broker free to find out how we can assist you in developing an effective debt consolidation strategy.

Reverse Mortgage

Reverse mortgages are for seniors who are over 55 years old. A reverse mortgage can be used as a powerful financial instrument to extract money from your existing home to use in your golden years. Qualification takes into consideration the home itself and not the credit information and income of the person applying.

Since the final obligation to repay the debt is designed to never exceed the equity of the property, no payments have to be made on a reverse mortgage until it is sold or the individual borrowing decides to move.