Mark Mitchell | Mortgage Broker London Ontario
Mortgage Broker London Ontario
“When you use the Right Mortgage Broker, you get the Best Mortgage Rate”
Mortgage Broker London Ontario – Available 24/7, I offer Mobile Mortgage Broker Services to London Ontario and Surrounding Area. Call or Text 519-860-2102 for Details
As a Licensed Mortgage Agent in London my job is to provide you with the best mortgage rate possible, in a professional and timely manner.
What is a Mortgage Broker?
Ontario Best Mortgage Rates
With access to over 35+ Lenders I provide every client with customized solutions to their personal finances and mortgage needs.
Fastest Response Time of all Mortgage Brokers in London
I am a firm believer in being prompt, answering questions quickly and always being available. I strive to maintain the fastest response time in London, with an overall average of 10 minutes, Call or Text 519-860-2102 and, unless already with a client, I will respond within a matter of minutes.
London Ontario Mortgage Broker Services
I use a number of Lenders which offer lower interest rates than those offered by traditional banks. You can use the Free Mortgage Payment Calculator and the Lowest Mortgage Rates to get a rough idea of what your monthly payments would be!
If you are purchasing a new home and want the best interest rate in Ontario Contact Me .
Searching for a Home? See https://www.Realtor.ca for homes in London Ontario.
If it is time to renew your mortgage then it is time to shop for the best interest rates available in Ontario. My Mortgage Rates are lower than the banks’ rate and I can save you thousands of dollars off the price of your mortgage. Given the savings and the long term commitment involved in renewing your mortgage it is worth a Free Consultation.
Many people opt to Refinance their Current Mortgage as a means to tap their home equity. This can be done for Debt Consolidation, Home Renovations (adding a new garage, a new kitchen,
etc) or just to add some positive cash flow. Some of my lenders will lend for a total of 95 percent of the value of your home’s value.
If you have had credit issues in the past, are or currently facing some challenges with your credit I can help! I have access to multiple lenders that deal specifically with mortgages for people that have had some credit challenges. I have helped many home buyers that have been bankrupt, have had a consumer proposal, or have had collections buy a home..
If you are looking for a Home Equity Line of Credit, or need to take equity out of your home in one large sum I can help! I have numerous lenders that specialize in helping people utilize the equity in their home, with various programs available.
Every Mortgage is unique and sometimes traditional financing options are not available. I have multiple private lenders who specialize in unique mortgage options. They can close a mortage quickly and are receptive to your unique situation.
I have helped numerous people purchase an investment property to help in their long term financial planning. If you are looking to purchase a rental property book a Free Consultation to go over your options.
If you own your own home I can help consolidate your debt into one lower monthly payment. This will often help fix your credit and put your down the right path. Before looking into Bankrupcty or Consumer Proposal book a Free Consultation to go over your options.
There are multiple programs available to help New to Canada immigrants purchase a home and obtain a mortgage. Book a Free Consultation to go over your options.
With the Best Mortgage Rates I specialize in saving you money on your mortgage!
Mark has helped me out for years! He always gets back to me right away and has even visited my home in Port Stanley to help get things done. I recommend Mark to all my friends and family! Thanks so much Mark for all of your continued assistance 🙂
Mark helped us get a house within a few months after we’ve given up hope! Almost going on a year in this place and couldn’t have done it without him. Would recommend, thanks Mark!
Mark has helped me and my family a few times. Mark gives great advice and helped us get a house when we never though get we could. If you need a mortgage call Mark!!!!
Mortgage Broker London Ontario
Mortgage Success Story
“We wanted to pull some money out of our house to pay off debt and do some renovations. Me and my husband were advised by our bank to find a Mortgage Broker. After leaving a few messages with some other Brokers we found online we finally called Mark.
I sent him a text and to my surprise he got back to me almost immediately.
Long story short, within a few weeks we paid off our credit cards and had money left over to re-do the kitchen and enjoy the summer. I would highly recommend that you call Mark for all of your mortgage needs!!”
If you are looking for a Mortgage Broker in London Ontario you have come to the right place! Although I am Licensed as a Mortgage Agent, I perform many of the same services commonly associated with Mortgage Brokers in London Ontario and surrounding area.
While the terms Mortgage Broker and Mortgage Agent are similar, and Mortgage Brokers and Mortgage Agents fulfill many of the same functions, it is important note that there is in fact a difference.
According to Canadian Mortgage Trends the main difference between a Mortgage Broker is that, “…a mortgage broker is a firm or person licensed to deal in mortgages and employ mortgage agents” while “A mortgage agent is an individual authorized to deal in mortgages on behalf of a mortgage broker.”
While many attribute these functions to a Mortgage Broker, “A mortgage agent is generally someone who finds the best mortgage for each client based on that client’s income, credit, and property profiles.”
Thus, while services such as First and Second Mortgages, Re-Financing, Private Lending and Low Mortgage Rates are often attributed to those provided by Mortgage Brokers in London Ontario and surrounding area, in fact Mortgage Agents provide those same functions and services.
London Ontario Home Prices
The housing market in London has been red hot in recent years, with home prices going up nearly 10 percent in some areas. Given the rise in home prices the use of a Mortgage Broker will enhance the affordability of your home. As Mortgage Brokers tend to get lower Mortgage Rates, and have access to lower rates through credit unions, you can expect a lower qualifying rate for conventional purchases. This will allow you qualify for bigger mortgage, and therefore a higher home price.
Current Mortgage Rates in London Ontario are very low compared to historical standards. By using the mortgage rates of Mortgage Broker or Mortgage Agent, rather than one of the big banks, you will save thousands of dollars regardless of the mortgage term. In an ideal scenario, under a 5 year fixed closed mortgage term there is upwards of $8,000 in savings, which will translate into a much lower monthly mortgage payment.
Fixed Rate Mortgages
As shown above with the best Mortgage Rates in Ontario, using a Mortgage Broker will save you thousands on a Fixed Rate Mortgage. With a Fixed Rate Mortgage you can rest assure that your monthly mortgage payment will not go up or down over the life of your term. Whether it is a 5 Year Fixed Mortgage Rate with a 25 year amortization period or a Ten Year Fixed Rate with a 30 year amortization period, your monthly mortgage payment will never change.
Variable Rate Mortgages
In contrast to the static monthly mortgage payments inherent in Fixed Rate Mortgages, the monthly mortgage payment with Variable Rate Mortgages changes based on the Prime Rate of the Bank of Canada. While closed mortgage rates are historically very low, you can save even more money with a variable rate mortgage.
Currently the Lowest Variable Mortgage Rate is Prime-1.05, with the Prime Rate being 3.45 – This means on a Variable Mortgage the current mortgage rate would be 2.4 percent. Compared to the 5 year Fixed Mortgage Rate of 3.24 a Variable Rate Mortgage is very attractive.
Should you decide to refinance your mortgage prior to the end of the mortgage term the mortgage penalty is much less with a variable rate mortgage than it is with a closed rate mortgage. With Variable Rate Mortgages the penalty is equal to three months interest. In contrast, with Closed Rate Mortgages the penalty is the greater of three months interest or the Interest Rate Differential (the difference between the current mortgage rate and the posted rate at the time of the mortgage application).
For more on the pros and cons of Fixed Rate Mortgages and Variable Rate Mortgages see the Guide on Getting a Mortgage.
In contrast to Fixed or Variable Rate Mortgages, Open Mortgages do not have a penalty for repaying early, enabling you to payout your mortgage at anytime without penalty. Although the Mortgage Rates on these types of loans are typically higher, they do enable some flexibility in the repayment of your mortgage.
Contact London’s Mortgage Agent
Mortgage Broker London Ontario – Fastest Response Time
I understand that when you have questions about your Mortgage that a a few hours to receive a response can seem like an eternity! I specialize in providing a fast response time to all inquiries, questions or comments. My Yelp Page shows an average of 10 minute turnaround time for all responses.
As I do with all of my clients, when we are awaiting a response from the mortgage lender we will touch base every day just to keep in constant contact. I believe in keeping my clients well appraised of the status of their applications. Nothing is worse than not being in the know!
Please Feel Free to Call or Text me at (519)860-2102.