Mortgage Brokers – Kincardine, Ontario
Kincadine 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 Kincadine 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 Kincadine 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 Kincadine 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 Kincadine, Ontario can also place you in a credit repair program which could lower your future interest payments.
Kincardine Mortgage Broker Information
The Municipality of Kincardine is located on the northern shores of Lake Huron in the County of Bruce, Ontario, Canada. The municipality is located at the mouth of the Penetangore River, was created in 1999 by the amalgamation of the Town of Kincardine, the Township of Kincardine, and the Township of Bruce and was formerly known as Penetangore.
The economy of Kincardine is dominated by the Bruce Nuclear Power Development which is currently operated by Bruce Power. There is also a thriving tourist industry, emphasizing sandy beaches, beautiful sunsets and Scottish cultural tradition.
On March 5, 1848, Allan Cameron and William Withers landed by ship at the site of the modern-day town, in that part of Canada West known only as the Queen’s Bush, and founded Penetangore. Both the township and the county were named after James Bruce, 8th Earl of Elgin and 12th Earl of Kincardine. Over this time, the name Penetangore had gradually fallen out of favour, and was officially discontinued (except with regard to the river) when the Village of Kincardine was incorporated on January 1, 1858.
A nuclear power plant was built in Bruce Township in 1968, and the eight additional reactors of the Bruce Nuclear Generating Station were built between 1977 and 1987. As a result, a large number of highly educated people moved to Kincardine for work, and they were highly paid for their services. This significantly changed the demographics and the economy of the town.
The Ontario government has proposed the construction of a Deep Geologic Repository in Kincardine, Ontario for the long-term storage of low level nuclear waste on lands adjacent to the Waste Management Facility in Kincardine, Ontario.
Free Mortgage Consultation
Mortgage brokers Kincardine , Ontario will provide you with free consultation regarding your mortgage. Call today for your free mortgage quote.