Every conventional mortgage that includes a minimum 20% down payment requires an appraisal because the mortgage is uninsured. The lender wants to see that your purchase price is in line with the property’s fair market value. Lenders want to see that you are purchasing a quality property and that they will be able to recuperate the full amount if you default on the loan.
Home Buyer Mortgages
One of the easiest ways to buy a home
is through a home loan mortgage company.
Applying for a mortgage shouldn’t be hard or confusing,
What is equity?
The amount of financial interest in a property. Equity is the difference between the fair market value of the property and the amount still owed on the mortgage.
What is mortgage life insurance?
This is insurance coverage that would pay off in the event of death or disability of the homeowner. Contact Kelowna Mortgage Brokers, Rampone-Marsh Mortgages, to find out about our mortgage life insurance options.