Canada’s largest banks, credit unions, trust companies, and financial institutions; offering their clients more choice, and access to hundreds of mortgage products! As a result, clients benefit from the trust, confidence, and security of knowing they are getting the best mortgage for their needs.
Whether you’re purchasing a home for the first time, taking out equity from your home for investment or pleasure, or your current mortgage is simply up for renewal, it’s important that you are making an educated buying decision with professional unbiased advice.
While some customers, via help of mortgage brokers Montreal, will need to extend their mortgage repayment holiday for a few months, others may need to extend their loan term to keep repayment close to pre-deferral levels. And, for those who can afford it, adjusting repayment to a higher amount to achieve the same term. Analyze the best solution that will fit your unique situation.
Extending the loan term means you are adding more years onto your loan and hence more interest repayments over the life of your loan. However, it will help you to get through these challenging times. Please seek financial advice from mortgage brokers Montreal about what you should do. Whether you want to resume your home loan repayment in the coming September, if yes, your advisor will talk to your bank about your options.