The RightMortgage® is a new way of looking at mortgage financing that will be of particular interest to rate conscious clients.
Clients can now choose the mortgage features which meet their needs and not have to pay for the extras that come with a standard mortgage. For example, if a client chooses to reduce their lump sum prepayment privilege to 5% of the original principal, their rate will be reduced by 5 basis points. Their rate will also be reduced by an additional 5 basis points if they choose 40 year amortization with monthly payments and no annual payment increase option.
The RightMortgage® provides an answer to the question "Why pay for a feature you likely won't use?" And, while a 10 basis point savings is easily attained, many clients can save up to 25 basis points, particularly if their mortgage is insured and will be closing within 30 days.
For further information regarding the above information, contact Dan Balfour at 416-918-0296 (also see his contact information on my web site)
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