Message From Author

Paramjit S. Girn

Welcome! Besides preparing quality content, we help Ontario residents leverage their time and banks money efficiently to make them mortgage free quicker. Having said that, allow me to invite you to meet our licensed mortgage expert for an eye opening, no obligation mortgage strategy session. Everyone who attends it, loves it. We are almost certain you will too.

Best Mortgages

Want Best Mortgages? Ask For Liberating Mortgages on your Home

There is no shortage of Mortgage options to consider

There are many mortgage options out there for home buyers to consider. However, you have to make sure that you understand what Best Mortgages agree?

Don’t get caught with a restrictive mortgage that prevents you from having flexibility.

Here are two common forms of mortgages available to Canadians:

  1. Restrictive Mortgages: They are exactly what they sound like. These mortgages come with many restrictions, some that home owners are not aware of. However, if the lowest interest rate is what you are after, then this may be the best option for you.
  2. Liberating Mortgages: We offer a number of liberating mortgage solutions that are customized for your specific situation. Liberating mortgages look at more than just interest rate. If you are looking for some flexibility, a liberating mortgage is what you are looking for.

Learn more about your best mortgage options, let’s set up a FREE non-restrictive strategy session. Just fill out the form to get things going with the Mortgage Delivery Guy.

Best Mortgages:Liberating Mortgages vs Restrictive “Mortgages

Just like with life, you need some flexibility with your mortgage options

The name says it all, restrictive mortgages are mortgage products provided by lenders with lots of restrictions. They tend to be very primitive in nature and are primarily based on interest rate. Due to the availability of highly customizable mortgage products, very few home buyers go for it.

Restrictive mortgages are for home owners who only care about the lowest possible interest rate and don’t have intentions to pay the mortgage off quickly.

However, before you make a rash decision that you could regret, Mortgage Delivery Guy wants to give you the tools to you to be well informed so that you can make an informed decision about best mortgages out there. The table below compares the features of restrictive and non-restrictive mortgages.

Mortgage Features Restrictive Mortgages Liberating Mortgages
Interest Rate Choice Fixed Only Your Choice – Fixed/ Variable
Interest Rate (%) 2.99%, 5 years fixed= 1066250,000 10% down; 25 years 2.99%, 5 years fixed= 1066250,000 10% down; 25 years
Pre Payment Only up to 10/10 Up to 25/25%
Secured -LOC Not Allowed Allowed
Portability Not Allowed Allowed
Renewal option 5 years fixed only Your Choice
Purchase + Repairs option Not Allowed Allowed
Fully Close(Have to Sell to Refinance) Yes No
Penalties IRD only 3 months Interest on VRM
Amortization Only 25 Years 30 years and up if qualify
Payment Skip option Not Allowed Allowed
Rental Property Not Allowed Allowed
Term 5 years Fixed only Your Choice
Cash Back Options Not Allowed Allowed
Blanket Mortgage option Not Allowed Allowed
Use of pre Maternity leave Income while on mat leave to qualify Not Allowed Allowed
What should you do to go to other bank for a mortgage in future? Have to Sell your property Free to refinance with any bank, any time WITHOUT selling your home

Be aware of the allure of restrictive mortgages aka No Frill Mortgages!

When it comes to restrictive mortgage, even if you forget everything else that you have read on this page, remember these two points:

  1. Lower Interest rates are commonly used to bate people and to attract business
  2. In most cases, restrictive mortgages are not the best deal

For best mortgages the only way our mortgage expert can help you is if they know how to contact you.

Click here to connect & we would be happy to meet with you to discuss your best mortgage options which allows you to pay off your mortgage quicker while keeping the total interest paid low.

For quick service and to immediately speak to an mortgage expert dial 1-800-808-1613 now!