Hybrid Mortgages With Mortgage Alliance Greater Golden Horseshoe
Taking out a mortgage is by no means a one-size-fits-all process. Regardless of your mortgage amount, you always have a say in which repayment route you take. Though you may be familiar with the fixed-rate and variable-rate dichotomy, other lending options may be better suited to your financial preferences. One such option is a hybrid mortgage. As an expert in the field, Mortgage Alliance Greater Golden Horseshoe wants to help you understand how you can benefit from a hybrid mortgage.
What is a hybrid mortgage?
A hybrid mortgage is a mix of both fixed and variable rate terms. This allows for some security when trying to hedge the market, especially in the rising rate environment we are now seeing. This type of mortgage is available for conventional mortgages only. It allows flexibility to have less volatility in your mortgage payments in a rising rate environment and also allows you to take shorter-term fixed rates. So in the event that the fixed rates adjust down, you are not stuck in a five-year term.
A hybrid mortgage will benefit all homeowners with a conventional mortgage that is adverse to high risk. This will give them peace of mind and security in a rising rate environment. Additionally, there is also a lower penalty should the borrower need to refinance or pay out their mortgage.
If you’re looking for more information on hybrid mortgages or an expert mortgage broker in Cambridge, Ontario, reach out to Mortgage Alliance Greater Golden Horseshoe.
I believe every client deserves the best care and service when needing to secure financing on their home. I am here to help you with all of your mortgage needs and have what it takes to make a difference in your next mortgage transaction. I have over twenty-six years of experience with both mortgage financing and real estate. I never say I know everything, but I have been around for a while, so you can be assured you are in good hands!
I offer services like first-time home buyer mortgage, mortgage pre-approval, self-employed mortgage, debt consolidation mortgage, mortgage refinancing, chip reverse mortgage, mortgage renewal, private mortgage, etc., to clients across Cambridge, Kitchener, Waterloo, Guelph, Brantford, Hamilton, and Woodstock, Ontario.