Mortgage Insurance

DID YOU KNOW :

  • Bank mortgage life insurance is a type of No Medical insurance, often with very little support to ensure that the no medical questions are answered correctly. That assessment is only made if and when you die! If you have a medical condition and you answer one of the questions incorrectly, your claim may be denied!
  • The death payment under a bank mortgage insurance policy is payable to the bank to discharge the mortgage. There is no flexibility to make the payment to your beneficiary and let them decide how to handle the bills.
  • The amount of coverage under the bank plan is equal to the mortgage amount and decreases as your mortgage decreases.
  • If you change your mortgage lender, you will need to re-apply for your insurance coverage and likely pay a higher premium.
  • In spite of what you might think, bank mortgage insurance often costs more than other insurance policies that are designed to meet your specific needs.

In other words, a bank mortgage insurance policy works great for the bank – but may not be the best plan for you.

Mortgage Processing*

WHAT IS A MORTGAGE

A mortgage is a loan in which property or real estate is used as collateral. The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full.It is most advantageous to borrow approximately 80% of the value of the house or less. The house you buy acts as collateral in exchange for the money you are borrowing to finance the mortgage for a house.

So, whether you are considering making your first home purchase or are about to refinance a mortgage, there is lots of good news. Mortgage interest rates are stable and the competition among lenders is fierce. They want your business. So, how do you determine the best deal for your own individual circumstances? How do you make sense of the fine print that comes with different mortgage products?

You can’t; we will do it for you. We work for, and with, you to provide you with the best solutions for your:

  1. 1st, 2nd and 3rd mortgages
  2. Commercial mortgages
  3. Refinancing
  4. Lines of Credit
  5. Debt consolidation
  6. Home equity takeout

“Leave all your mortgage needs with us. We’ll do the shopping while you get the savings”.