Regardless of mortgage rates, if a down payment is less than 20% of the home or property value, mortgage insurance is mandatory in Kelowna (and across Canada). Mortgages have built-in insurance premiums, so, therefore, the clients do not pay “out of pocket” for this expense. For mortgage lenders, a down payment of this size is more of a risk, so the mortgage insurance premium acts like a guarantee in the event of a default on the loan.
Many people find it hard in the beginning to gather the money needed to buy a vacation property.
Investing in property means not only buying a house.
At Rampone-Marsh Mortgages we believe in finding you the most convenient mortgages in Kelowna, Vernon and all across Canada
Applying for a mortgage shouldn’t be hard or confusing,
What is an earnest deposit?
An earnest deposit is a sum of money given to bind the sale of real estate, or a sum of money given to ensure payment or an advance of funds in the processing of a loan.
Why use a Mortgage broker instead of my bank?
When you work with your bank, you get one choice- the one they offer you. But there are plenty of other lenders out there that may be able to offer you a product or rate better suited to your unique needs. Every bank says they have the best product or rate, but it’s just not possible for everyone to have the best.
Rampone-Marsh Mortgages is an independently owned Mortgage Brokerage that works for you. Because of our network of lenders, we’re able to present you with a range of choices, allowing you to select the best option. Lenders compete for your business, so you get the best deals. Best of all, you’ll have an experienced mortgage broker to help you make sense of your choices and understand the variety of products and how each one could benefit you.
You guys, rock!
Thank you.
Karyn Mackenzie
Carrie Mayhew
Garnet Dickinson
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Here’s some more on Mortgage Renewal and Refinancing!
Yeaaaaah mortgage!
Whether you’re self employed, or buying a home for a new family, we have the perfect mortgage option for you.