Mortgage Brokers – Kanata, Ontario

Kanata mortgage brokers can help you get a first, second or third mortgage for your property. Our goal is to provide mortgages that meet your requirements. You have the option to choose between fixed or variable rates of interest or even a interest only payment plan. We have specially trained mortgage brokers Kanata who handle home equity refinance, debt consolidation and self employed loans.

First Mortgages – most people will need a first mortgage or to refinance their existing mortgage at some time in their lives. First mortgages usually have a maximum loan to value ratio (LTV) of 75% but some lenders do go as high as 80% for a first mortgage. To get the lowest interest rate possible you will need a good credit score, verifiable income and have an acceptable loan to value ratio. If you do not meet all these requirements, mortgage brokers Kanata can still get a mortgage but it may cost you more money.

Second Mortgages – the are many different reasons for getting a second mortgage which could include home renovation costs or educational costs. Second mortgages have a higher LTV of up to 90% but most Kanata mortgage brokers lenders will not exceed an LTV of 85%. The interest rate for a second mortgage will depend on the LTV and your credit rating.

Debt Consolidation – one of the best reasons for getting a second mortgage is a debt consolidation loan. If you have large outstanding credit card balances the annual interest could be as high as 29%. In contrast a second mortgage will have an interest rate that is less than half of the credit card rate. The usual minimum loan amount for this type of mortgage is about $20,000.00 due to the fees associated with the mortgage. Mortgage brokers Kanata, Ontario can also place you in a credit repair program which could lower your future interest payments.

Kanata Mortgage Broker Information

Kanata is a suburban community in the western part of Ottawa, Ontario, Canada. Kanata has a population of 100,200 and is growing rapidly. It is located just to the west of the Greenbelt and is one of the largest of several communities that surround central Ottawa. It is a planned community and an important hi-tech centre.

Located in the Ottawa Valley, Kanata is located about 22 km west-southwest of Downtown Ottawa along Highway 417. Its northern end is just to the west of the Ottawa River. To the east, Kanata is separated from the former City of Nepean by the National Capital Commission’s Greenbelt. The community of Bell Corners is within Kanata and is a hi-tech suburb that was established circa 1950, and was home to such Canadian technology icons as Computing Devices Canada, which blazed the trail for later defence technology firms in what would later be known as Silicon Valley North.

To the west of Kanata is Stittsville, Ontario, first a farming community, then a village, then part of the township of Goulbourn, Stittsville is now a suburb which was amalgamated into the City of Ottawa in 2001, and people are largely employed by the hi-tech industry. To the south of Kanata is the former village of Richmond.

Free Mortgage Consultation

Mortgage brokers Kanata will provide you with free consultation regarding your mortgage. Call today for your free mortgage quote.