THINKING THAT THE MORTGAGE PROCESS IS " TOO DIFFICULT " FOR YOU TO UNDERSTAND.

Familiarize yourself with our four major mortgage management tools.

These EASY TO USE tools will explain in simple terms your mortgage payment options, the types of mortgage available and what you can do to save your hard earned dollars by controlling the amount of interest that you pay and how long you will have to pay. Start by comparing possibilities by entering some numbers using the

• KGM Canadian Mortgage Calculators and learn the terms as you go by using the
• Mortgage Language Glossary and for a more complete understanding about real estate and mortgages refer to the
• JEM Glossary and if your mortgage will be CMHC INSURED the
• FAQs About CMHC section IS A MUST READ.

These tools will empower you to make the decisions that best serve your interests.

BEING IN A HURRY

If you are in too much of a hurry to do what is best for your financial well being then you will no doubt end up repaying your financial obligations slowly and expensively. Take the time to try out different possibilities. Learn the terms. Understand the possibilities. SAVE MONEY.

ONLY CONSIDERING THE LOWEST INTEREST RATE.

Yes, the lowest interest rate is an important consideration but only after you have weighed other considerations offered such as the AMORTIZATION, the TERM, the PAYMENT FREQUENCY, the PRE-PAYMENT OPTIONS, the PORTABILITY, CASH BACK MORTGAGES. Use the tools that JEM Mortgage has made available to you and make financially smart decisions. You can do it.

CASH BACK MORTGAGE

Look around and you are almost certain to find a lender promoting a CASH BACK MORTGAGE. Is it as good as it sounds? You have to consider the terms and conditions set out by the lender. Like all mortgage decisions it depends on a number of factors like the Cash Back % Rate, the Term, the lender’s "POSTED " Rate, the Current Discounted ‘Best‘ Rate and whether or not you apply the CASH BACK towards the initial mortgage amount at closing. If you apply the CASH BACK against the initial mortgage amount it could be a good deal. If you don't it is definitely a deal that carries a cost. Compare the CASH BACK MORTGAGE to a DISCOUNTED "BEST RATE" MORTGAGE using the Cash Back Calculator.

Example:
Assume a lender offers a 3% Cash Back on their 5 year term mortgage. The lender’s Posted Rate is 6.75% and the lender’s Discounted ‘Best‘ Rate is 5.75% for the 5 year term mortgage. Assume a 25 year amortization and a mortgage amount of $200,000.00.

Calculate which is better at You be the judge

Answers:
Choice 2: To get your hands on $6,000.00 it cost you $1,911.40 over 5 years
Choice 3: Choice 1 (The applied Cash Back) is $648.12 better than Choice 3
Choice 4: The 1% Discounted Rate would have saved you $1,767.58 over 5 Years

If you are ready to apply online for a Cash Back mortgage Click Now and begin the JEM Mortgage two part application process, or if you have any questions Email JEM Mortgage, call us at 1-877-977-8946 or Return To Homepage.