Our SERVICES
Purchase
Whether this is your first home or your third, we are here to make the purchasing process a cinch. With the help of our licensed mortgage associates, we can educate you on all you need to know when it comes to buying property. At Mercer Mortgage, we let you know what documentation you need to complete your mortgage application. And we are here to answer all your questions about purchasing a property. We always aim to give you the best rate possible by providing quality service.
Refinance
When you refinance your mortgage, you are replacing your existing mortgage with a new one on different terms. We will help you explore your options and determine if you qualify by calculating your loan-to-value ratio. To do this, we divide the balance owing and other debts into the current value of your property. In light of this result, you may be able to change an adjustable rate to a fixed-rate or get a lower interest rate.
Start your mortgage application process online now!
You’re one of a kind. Your mortgage should be, too. Start an application to see what’s possible.
Renewal/Transfer
When you get a renewal on your mortgage, you are signing up with your current lender for another term. You will be able to negotiate your interest rate and term without having to reapply. We can guide you throughout your renewal to ensure you get the deal you want. Or, if you are transferring your mortgage to another property, we can help you determine what blend and extend mortgage offer will be best for your interests.
Mortgage Pre-Approvals
Applying for a mortgage pre-approval is a great place to start when looking to buy a home. It will show you how much money the house will be that you can afford, as long as you meet certain conditions. If you are pre-approved, your lender is stating that you qualify for a mortgage loan and will provide you with an idea of what your payments could be like. Let us help you with this first step to purchasing your dream home.
Fixed Rate Mortgage
A fixed-rate mortgage is when the interest rate remains the same over the mortgage’s term. This option is best if you have a budget and want predictable monthly payments. There are three types of fixed-rate mortgages, a fixed-rate closed mortgage, an open fixed-rate mortgage, or a convertible mortgage. Determining which mortgage is best can be difficult. In light of this, our associates can help you determine which fixed-rate mortgage is right for you and your financial situation.
Variable Rate Mortgage
Variable-rate mortgages fluctuate with the prime rate of your lender throughout the term of your mortgage. Your payments will remain constant, but your interest rate may change based on the market. This will impact your monthly principal. A variable-rate mortgage typically offers more flexible terms. A variable interest rate mortgage may be right for you if you want to pay your mortgage off quickly and if you have a flexible budget for dealing with ever-changing interest rates.
Reverse Mortgage
Unlike a forward mortgage, a reverse mortgage doesn’t require you to make any loan payments. This type of mortgage is generally best for seniors on a fixed income. If your property has considerable home equity, you can borrow against your home’s value and receive either a lump sum, line of credit, or a fixed monthly payment. The loan becomes due when the buyer passes away, moves into another home, or the house is sold.