Wondering what type of mortgage is the right fit for you? Build your mortgage knowledge with our informative breakdown on the mortgage options available to you. Whether just starting out or making the move to your dream home, dig in to find the mortgage product that is right for you at any stage of your journey.
Make the move to a more comfortable mortgage experience with Tandia.
At Tandia, we pride ourselves on our competitive rates and outstanding service. If you’re looking to switch your mortgage to Tandia, welcome! We aim to make this transition as simple and straightforward as possible.
Switching your mortgage is often a strategic decision to secure a lower interest rate or better terms – and bringing your mortgage to Tandia is always a great move! The best time to switch is when your current mortgage is coming up for renewal. Here are a few additional things to consider:
STEP 1: Assess Your Current Mortgage
The first step is to take a look at your current mortgage, including the rate and terms and remaining balance. Look into any penalties for early repayment as well. This information is essential, as you can calculate how much the switch could cost you up-front or save you in the long run.
STEP 2: Review Tandia’s Mortgage Offerings
Before switching, you’ll want to know exactly which one of our mortgage options best suits your needs, including the terms, conditions, and repayment options, so you have a clear plan in place.
STEP 3: Review Your Credit Score
Be sure to check your credit score before any major purchase or loan, including a mortgage. By obtaining a copy of your credit report you can address any errors before applying for the new loan. Remember, a good credit score can improve your chances of qualifying for certain offers – so always do your best to keep it in tip-top shape.
STEP 4: Track Down Your Documents
Gather necessary documents such as proof of income, employment history, bank statements and current mortgage details. You will need these to set up your switch and help give us a clear picture of what you’re working with.
If you’re interested in switching your mortgage or would like to find out more about how easy this process can be, get in touch with us! We’d love to help you make the move to a more comfortable mortgage experience with Tandia.
What is a Home Equity Line of Credit?
A Home Equity Line of Credit (HELOC) is a flexible financial arrangement that allows homeowners to borrow against the equity they have built up in their property. It functions as a revolving credit line, much like a credit card, where the homeowner can access funds up to a predetermined credit limit. The amount available for borrowing is based on the difference between the home's current market value and the amount still owed on the mortgage.
Managing Your Mortgage –
How to Switch, Renew or Refinance
Your home is an important part of your life and your identity. If your current mortgage term is ending, or you’re just looking to make some changes to your current arrangement, it pays to investigate your options. Let us walk you through those OTHER mortgage decisions you may encounter as a homeowner, such as switching, renewing and refinancing, so you can be confident that your mortgage is always working for you!
Tandia's Mortgage Glossary
Looking to brush up on key mortgage-related terms and phrases? Let us help! Check out our handy Mortgage Glossary so you can navigate the homebuying process with ease.
*O.A.C., additional premiums may apply in cases of a refinance, extended amortizations, non-owner occupied, or other instances where application details may warrant it. Legal and appraisal fees may apply. Interest is calculated half-yearly, not in advance. Rates are product-specific and subject to change without notice. Some restrictions apply. These Annual Percentage Rates may only apply if there is no cost of borrowing other than interest and is based on blended payments of principal and interest. A high ratio mortgage is applicable where a borrower places a down payment of less than 20% of the purchase price of a home.
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There's a lot to consider when it comes to buying a home. We can walk you through every step of the way and help explore what the different options are. Let us do the leg work and find you the best rates. Contact us for helpful, friendly, easy to understand advice.
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Renewing or Refinancing
Looking to renew or refinance your mortgage? Find out how smooth the process can be. Let us help you review your options so you can make a move you’ll be proud of. We’ve got the keys to empowered home ownership decisions – check it out!
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