Every Canadian has a dream to be a homeowner. If you are living in Canada and looking to buy your dream house, you must know that obtaining a mortgage will be the best option. Getting a mortgage will help you to get a deal that will suit your financial health and requirements.
However, you can get a mortgage through a bank or mortgage specialist. It will depend on your financial health. Here we will show you why you should get a mortgage through RBC mortgage specialist Aurora.
Table of Contents
Why do you need a mortgage?
Here we will show you some points that will let you know the benefits of getting a mortgage to purchase your dream house.
1. Build Equity
Getting a mortgage to buy a new house is a massive investment. However, it will help you to build equity. We all know that the value of your home will increase over time.
2. Build higher credit rating
Buying your dream house can be a massive purchase of your life. However, it will help you to build a high credit rating.
All you have to do is that you need to pay your mortgage payments on time after getting a mortgage. The best thing is that the higher credit rating will decrease the interest rate on your mortgage.
3. Tax breaks
On annual income tax returns, the property tax, mortgage interest and points will get deducted. Moreover, it will also diminish qualified private mortgage insurance.
4. Borrowing leverage
Getting a mortgage and paying off the mortgage payments on time will increase your borrowing power. However, equity is the most powerful tool that will help you to get a mortgage for the second time.
Why should you get a mortgage through RBC mortgage specialist Aurora?
RBC is one of the largest mortgage lenders in Canada. According to a report, RBC has more than sixteen million clients globally and ten million clients locally.
However, it comes with a five-year fixed term that will offer you a fixed rate that does not decrease or increase.
The best thing is that most RBC mortgage rates come with a 10% payment increase prepayment privilege, 120-day rate hold and a 10% lump sum.
However, it has an RBC homeline plan that is a type of readvanceable mortgage. RBC homeline plan is a part of the home equity line of credit.
Moreover, you can split your mortgage between variable and a fixed rate with this homeline plan. If you are looking to get a pre-approval letter, RBC will help you to get a pre-approval more efficiently.
They will hold the rate for you up to 120 days with no obligations after confirming your information.
Pros of getting a mortgage through RBC mortgage specialist Aurora
- RBC mortgage is one of the most trustable, largest and reputable mortgage lenders in Canada.
- Working with RBC mortgage will allow you to have access to many other additional products like investment products, a multitude of banking accounts and secured loans.
- It will offer you a mortgage at competitive rates if you have a large mortgage.
- They can visit your home to discuss the mortgage. You can access their products with some online products that are handy.
- Their mortgage rates are affordable and negotiable.
Wrapping up
We hope you get to know everything about RBC mortgage specialist Aurora. However, after seeing the benefits, we can conclude that RBC mortgage lenders are the most convenient and trustable way to get a home loan. They come with a wide range of additional products and offer a mortgage that meets your financial requirements and goals.
