Canadalend Mortgage Options: Unique to Individual Needs

A mortgage is a large financial commitment with an overwhelming number of options. Deciding which mortgage makes sense can be difficult. If you are looking for any mortgage related assistance, get help with Canadalend mortgage options. The team of financial experts at Canadalend will lead you through each and every aspect of the mortgage process and ease all the stress that is involved in the decision making process. Canadalend offers expert advice regarding mortgage options best suited for you.

When choosing a mortgage, you will have to select between a variety of different options. This includes the length of time to pay off your mortgage or amortization period, the length of time that the interest rate and other options you negotiate will remain in effect, the term of the payment schedule or if you want an open or closed mortgage. Canadalend will assess your unique needs and work with you to present the best mortgage options.
One of the most important decisions when looking at mortgages is the choice between a fixed mortgage and a variable rate mortgage. Your income, lifestyle, and risk tolerance will weigh heavily on your decision. A mortgage specialist at Canadalend will evaluate your current financial situation and help you decide which option is best for your lifestyle and financial needs. Here is a look at what you can expect from a fixed or variable rate mortgage.
Fixed Mortgage

A fixed mortgage offers you the security of locking in your interest rate for the term of your mortgage. You will know exactly how much principal and interest you will pay. Risk tolerance is low with a fixed mortgage, but you will pay a premium for the security you get with a fixed rate in the form of higher interest rates. The downside is that you cannot take advantage of a lower interest rate and the ability to have more of your payment go towards the principal and less to interest if interest rates drop during the term. Fixed rates are affected by the Government of Canada bond yield for the same term.


Variable Rate Mortgage


With a variable rate mortgage, interest rates will fluctuate with the lender’s Prime Interest Rate. Variable mortgages typically come with a lower interest rate than fixed mortgages. Risk tolerance is higher due to the fear of rising interest rates. Regular mortgage payments are set for the term, even though interest rates may fluctuate during the term. When interest rates go down, an increased amount of the payment goes to pay principal. When interest rates go up, there will be an increase in the portion of payment that goes into paying interest. Variable interest rates are affected by the prime rate, which is ultimately affected by the Bank of Canada key overnight lending rate.


You are not alone in making important mortgage decisions. Canadalend mortgage options are unique to each client. Mortgage specialists at Canadalend are highly trained professionals who can work with you and guide you through the entire mortgage process with personalized service that is professional and ethical. 


4 member reviews
    By Mark
    Thank you Canadalend for helping me with mortgage approval advice.
    so hellpful with their responses to mortgage related questions
    The Canadalend team helped me when I had no where else to turn. Thank you so much
    By Flux
    Very Helpful financing and lending information!