Negotiate a new mortgage

Today’s lenders are very passionate and enthusiastic in bring more and
more innovative mortgage products to meet every need of the market.

Consumers enjoy the benefit of having a big pool of different mortgage
products although we all know it is not easy to make a right choice simply
based on limited information from mail pieces or other marketing material.

A good understanding of basic mortgage terms is a key to determining what
to choose from a variety of mortgage products.  

We can divide mortgage products into two categories based on type of
mortgage rate. One category is called variable rate term product and
another is called fixed rate term.

We can also differential products based on type of mortgage contract. We
call one type is open term mortgage and another is closed term.

Traditionally we also define conventional mortgage is a mortgage with the
original mortgage balance less than or equal to 75% of the property value.
And high ratio mortgage is a mortgage with the loan amount over 75% of
the property value.

Almost every mortgage product is built based on a basic structure described
above. You may want to determine a proper mortgage structure working the
best for you before you choose a product from the big selection.

It is always a good idea to seek some professional advice on your decision
of which mortgage product to choose. Mortgage specialist is specialized in
finding a best mortgage plan tailored to an individual client’s needs.

Please feel free to
contact us for a free consultation.
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