Mortgage products and options for your unique needs
At TMG The Mortgage Group, we research and filter through hundreds of loans and products with over 50 mortgage lenders which means you can be sure we’re presenting you with competitive mortgage rates and options tailored to your specific needs.
While there are several factors to consider when making a mortgage decision, including selecting the right mortgage professional and what you can afford, there are necessarily four key elements to consider when making a mortgage product decision:
- Term – the contracted length of time you pay a specific rate on the mortgage.
- Rate – the interest rate on the mortgage is either fixed or variable. A fixed-rate means the same interest rate and payment guaranteed for the length of your mortgage and a variable rate means your interest rate fluctuates with changes in the prime rate.
- Term Type – specifies the conditions associated with paying out the mortgage as in open or closed.
- Flexibility – defines the ability to repay additional amounts, thereby reducing your outstanding principal throughout the term of the mortgage; either ongoing with regular payments or lump sum bonus payments.