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  • Can you get a second mortgage with a different mortgage broker? Can you get a second mortgage with a different mortgage broker? - If you are in the market for a second mortgage and are not happy with your current mortgage lender or mortgage broker, you may be wondering whether you can switch and use a different mortgage broker or mortgage lender than you did for your first mortgage. Well the answer is yes, and this is because your second mortgage is tied to your home equity and not directly to your first mortgage. This makes it easy for you to change mortgage lenders or mortgage brokers when looking for a second mortgage.  To understand why this is the case, it is helpful to understand what a second mortgage is and how it works.  What is a second mortgage? A second mortgage in… More
  • How Rumy Gill Can Help You Get a Bad Credit Mortgage How Rumy Gill Can Help You Get a Bad Credit Mortgage in Brampton? - If your credit is less than perfect, you are probably well-aware how difficult it can be to get a mortgage. What you might not be aware of however how Rumy Gill a Brampton Mortgage Broker can help you get a mortgage and finally become a homeowner – yes, even if you have bad credit.  As a Mortgage Broker working in Brampton Rumy Gill has been helping people get bad credit mortgages for years, and he can help you too. Here’s how: What is a bad credit mortgage?  A bad credit mortgage – just like the name suggests – is a mortgage or home loan specifically tailored for people with bad credit. While major banks and other “A Lenders” require that… More
  • What is the difference between renewing and refinancing a mortgage? What is the difference between renewing and refinancing a mortgage? - Most homeowners when they first sign on to a new mortgage don’t give a lot of thought to renewing or refinancing their mortgages. But eventually when their mortgage term is up (most mortgage terms in Canada are five years although they may also be longer or shorter), the time will come for them to renew. Because the words mortgage renewal and mortgage refinancing sound similar, some homeowners make the mistake of thinking that they are the same thing. This, however, is incorrect. While both mortgage renewal and mortgage refinancing involve getting a new mortgage, they have some very important differences. What is mortgage renewal? Mortgage renewal occurs when the term of your current mortgage is up but you still have… More
  • Top 5 facts about working with a mortgage broker in Brampton Top 5 facts about working with a mortgage broker in Brampton - If you are looking to purchase a home in Brampton, one of the first decisions you will have to make is whether to work with a mortgage broker or whether to try and find a mortgage on your own. Here are the top five facts you need to know about working with a mortgage broker in Brampton. 1. Mortgage brokers save you time and money Mortgage brokers in Brampton have access to dozens of lenders (some of which you can only access through a mortgage broker). Instead of wasting time comparing rates and terms your mortgage broker can do this for you. 2. Mortgage brokers can get you lower than advertised rates. Because mortgage brokers do so much business with… More
  • What is the difference between a home equity loan and a second mortgage? What is the difference between a home equity loan and a second mortgage?  -   Home equity loans and second mortgages are both types of loans that use your home as collateral. As a result, many people are confused about the difference between the two and may even think they are the same thing. The truth is however, that they are two different types of loans and to understand which option is better for you, you need to understand the difference.  Home Equity Line of Credit A home equity loan – or home equity line of credit – is a revolving loan. Your lender will approve you for a specific amount (based on how much equity you have in your home) which you can then borrow from and pay back as often as you… More
  • How long does it take for a home equity loan to be approved? How long does it take for a home equity loan to be approved in Brampton? - Getting a home equity loan, can be a good way to access cash from your home equity when you need it. But many of our customers want to know how long the process will take. The good news is that it doesn’t take long. Depending on the complexity, a home equity loan usually takes between a few short days up to a few short weeks from the time of application to approval with cash in hand. What is a home equity loan? Also called a home equity line of credit or HELOC, a home equity loan is a revolving loan that you can continually borrow from and pay back (as long as you do not exceed the maximum approved loan… More
  • Is it a Good Idea to Refinance Your Mortgage? Is it a Good Idea to Refinance Your Mortgage? - Mortgage refinancing is a common strategy that Canadians use to lower their interest payments, consolidate their debt, save money, or access their home equity. But is it really a good idea? The answer is, that it depends on a few factors. Refinancing could save you a lot of money over time, but then again it might not. Or there may be other mortgage strategies that make more sense in your situation. Do determine whether mortgage refinancing is a good idea for you, you should sit down with your mortgage broker and let them calculate a few scenarios for you. In general though, here are a few of the factors you will need to look at in making your decision. How… More
  • How Does a Private Mortgage Work in Brampton? How Does a Private Mortgage Work in Brampton? - Homeownership is a source of pride among many Canadians. But what do you do when your ability to purchase or stay in your home is compromised by overloaded debt or poor credit? Sometimes the answer is to go to a private lender for your mortgage. Historically, only about 4-5% of the mortgages in Canada have been held by private lenders, but as new federal regulations have made borrowing tougher, we have seen this number start to rise. Usually, a private mortgage is an interest only loan. Keep in mind however, that private lenders take bigger risks and must therefore usually charge higher interest rates to compensate for those risks. Since you will not want to have to pay those higher… More
  • Why You Should Hire a Mortgage Broker in Brampton Why You Should Hire a Mortgage Broker in Brampton? - If you are thinking about buying a home, one of the first things that you will need to do is get pre- approved for a mortgage. You could just call your bank and see what they are willing to offer you but a better idea is to hire a mortgage broker and get access to the best mortgagee options on the market. Here are just a few of the reasons why you should hire a mortgage broker: They work with many different lenders If you contact your bank for a mortgage, you have essentially limited yourself to one lender and there is no competition. But a mortgage broker works with dozens of lenders and they can shop around to help… More
  • Second Mortgage improves credit score How Can a Second Mortgage Improve Your Credit Score? - When you think about ways to improve your credit score, getting a second mortgage might not be the first thought that comes to your mind, but did you know there are ways that a second mortgage can actually help you with your credit? It’s true. Whenever you get new credit and are consistent with making your payments, it helps to improve your score. But if you credit card debt becomes too much then it might become difficult to keep up with the payments, which can harm your credit score. This is where a second mortgage can help you can get out debt faster and help improve your credit score. If you have high-interest debt such as credit cards or payday… More
  • Debt Consolidation Mortgage | Brampton Mortgage Broker - Rumy Gill Debt Consolidation Mortgage - We have many years of experience in helping clients in Brampton with Debt Consolidation Mortgage Approvals that allow them to lower their overall monthly payments and find real savings through their mortgage. So what really is a Debt Consolidation Mortgage, you might be asking yourself. Simply put, a Debt Consolidation Mortgage is a mortgage that allows you combine several of your debts or liabilities (such as; car loan, credit debts, pay day loans, personal loans, collections, etc) into one single monthly payment at one low rate so you can save a lot of money. Here is an example of we were able to help one of our clients with; “Our client had a mortgage for $325,000 and owed $100,000 in… More
  • RRSP and the Home Buyers Plan | First Time Home Buyers | Brampton Mortgage Broker - Rumy Gill RRSP and the Home Buyers Plan for First Time Home Buyers - How RRSP and the Home Buyers Plan can help First Time Home Buyers. Here is article written by two professionals with industry experience in Financial Advising (Henry Foradori a Senior Financial Advisor) ; and Mortgage Brokering (Rumy Gill a Brampton Mortgage Broker) to help give insight to First Time Home Buyers on the importance of RSSP and the Home Buyers Plan. RRSP and the Home Buyers Plan: For most Canadians their two most important financial goals are; as a First Time Home Buyer, is to own a home and as a home owner, to be able to retire comfortably.   For most home owners, they have built a nest egg through home ownership and used retirement plans to attain a retirement… More
  • HELOC Mortgage | Brampton Mortgage Broker - Rumy Gill Debt Consolidation Loan Canada | Brampton Mortgage Broker – Rumy Gill -   Apply for a Debt Consolidation Loan Canada at www.BramptonMortgageBroker.com A Debt Consolidation Loan Canada can help home owners fight off high interest debt by accessing their home's equity! A Debt Consolidation Loan Canada (also know as a Home Equity Loan) can Leverage the Equity in your Home to pay off your Debts, free up Cash Flow and Repair your Credit Score! Why get a Debt Consolidation Loan Canada?   A Debt Consolidation Loan Canada is a great option and here are 3 Great reasons why! Great Rates! Low Affordable Monthly Payments! Fast Approvals! Contact Me to get started with a Debt Consolidation Loan Canada Today! Rumy Gill – Mortgage Broker Direct: 416-855-0545 Ext 101 Email: Rumy@BramptonMortgageBroker.com Office : 2260… More
  • Top Mortgage Broker | Top 5 Mortgage Broker April 2019 | Mortgage Broker Brampton | Brampton Mortgage Broker - Rumy Gill Top Mortgage Broker | Top 5 Mortgage Broker April 2019 - Top Mortgage Broker April 2019 Thank you! Thank you!! Thank you!!! Just to give you a quick background on me, I am Top Mortgage Broker in Brampton (BramptonMortgageBroker, MortgageBrokerBrampton) working at MortgageIntelligence. I am a Google 5 Star reviewed MortgageBroker in Brampton by my clients. It is with great appreciation that I announce that, April 2019 was a Great Month and one to remember! I was able to Cracked the Top 5 for April 2019. Top 5 Team Member out of 100’s at Mortgage Intelligence @rumygill None of it would be possible without the support of all my Referral Partners, Realtors, and Past Clients and their Referrals of Family and Friends. And my Amazing Team at Mortgage Intelligence. All the… More
  • Buy a Home in Brampton | Brampton Mortgage Broker - Rumy Gill Buy a Home in Brampton - Looking to Buy a Home in Brampton? Then you working with Brampton Mortgage Broker - Rumy Gill can help you with a Mortgage Approval so you can Buy a Home in Brampton. Did you know that Brampton is known as the flower city and is located in the GTA.  Only being about 45 kilometers away from Toronto has many activities and attractions to offer and is home to many individuals who are New to Canada. If you were to look on the map Brampton is the center point in the (GTA) Greater Toronto Area. Brampton is only is only about 22 kilometres or approximately 20 minutes from Toronto Pearson Airport and is in reasonable travelling distance of the major GTA… More
  • First Time Home Buyers in Ontario | Brampton Mortgage Broker - Rumy Gill First Time Home Buyers in Ontario - First Time Home Buyers in Ontario and anyone New to Canada have a goal of one day of buying a home, but most of them are not sure how to make that goal happen soon enough. That’s where a Mortgage Brokers are able to help clients who are looking to buy a home, by helping them put an end to paying rent and putting that money towards a Mortgage of their own. But for First Time Home Buyers in Ontario, and anyone New to Canada it is recommended to start off buying a home at price that is affordable, you don’t want to swing for the fences and go all in and try to buy that dream home the first… More
  • Mortgage Lenders | Brampton Mortgage Broker - Rumy Gill Mortgage Lenders - Variety being the spice of life, Brampton Mortgage Broker – Rumy Gill can offer you a wide variety of Mortgage Lending options through a vast network or over 50 Mortgage Lenders. Whether you are looking to Purchase a Home or Rental Property, Refinance your current Mortgage, or if you need to Access Equity from your Home or Rental Property working with a Brampton Mortgage Broker – Rumy Gill is your best option for you. Typically the Big 5 Banks are what most people think of when they are looking for a Mortgage, but did you know that our Mortgage Lenders consist of 2 of the 5 Big Banks, Credit Unions, Alternate Lenders, Sub Prime Lenders (B Lenders) and Private Lenders. Yes… More
  • Second Mortgage Bad Credit Debt Consolidation | Brampton Mortgage Broker -Rumy Gill Mortgage Refinance in Brampton - A Mortgage Refinance in Brampton can provide a lot financial freedom and relief of any financial pressure you may be under. Your home is more powerful than you think, not only does it provide you shelter and place where you can create memories, it is also an asset which can be used as a Debt Consolidation Super Tool through a Mortgage Refinance in Brampton. As a Home Owner, you have the option to take the smart approach to pay downing High Interest Debt. By utilizing low Mortgage rates you’ll be cash positive at the end of the month instead of in the hole. This can really give your finances a much needed upgrade. If you’re worried about penalties or if… More
  • Use a Mortgage Broker | Brampton Mortgage Broker - Rumy Gill Why Use a Mortgage Broker? Here are 3 Great Reasons Why - Most People are unaware of the benefits when you use a Mortgage Broker, most people think they are only there for people with Bad Credit or if you have been declined by the Bank or of you need Private Financing. Well let me just tell you that is not true. I have been a Broker for many years and I have helped all types of clients in many situations with their Approval. But let me share with you three great benefits when you use a Mortgage Broker. Great Rates Did you know Brokers have access to Multiple Lenders who they send business to on a daily basis. Because of this volume they send to the multiple Lenders they work with,… More