The repurchase of mortgage is undoubtedly the one which proposes the best rate of repurchase of credit . In the credit redemption application, we will study the interest for you in the repurchase of the mortgage. Renegotiating your mortgage can be more interesting than buying it. We must study all the possibilities and choose the best of course.
During the credit redemption simulation, we determine the share of real estate credit compared to consumer credit. If this real estate is greater than 60%, it is a real estate loan redemption. On the other hand, if this real estate share is less than 60%, it is a consumer loan buyout.
Real estate loan redemption rates
This is only fixed rate by choice because we prefer to avoid the surprises of variable rates. Rates will be low if the loan term is 15 years maximum. Beyond 25, rates will be higher (between 2.50% and 2.85%). Other factors come into play in determining the rate, namely the value of your proposed home as collateral and the rest to live.
A mortgage loan calculator can tell you the rate applied for your specific case.
Redeeming a mortgage is not necessarily recommended because there are prepayment penalties of 3%. A mortgage loan can be set up for a consolidation of consumer credit without buying back its mortgage. A mortgage will be placed in second place (after the mortgage for the mortgage).
Consumer loan redemption rates
Online credit repurchase banks offer different formulas for grouping your consumer credit. But, they do not compare all the offers to choose the best one. Only your broker specializing in credit redemption can choose from all existing offers. The goal above all is to reduce your debt ratio and to have a single loan with a single monthly payment adapted to your budget. If you own or accede, the rate will be lower. If the duration of the loan redemption is short, the rate will be lower. The longer the duration, the higher the rate.
The repurchase rates of credit vary each quarter and according to several criteria and that within each bank. We are here to offer you the best possible rate. Do not hesitate to contact us.