FAQ ...
Q
& A
Q. What
does this cost?
A. There
is no fee on conventional mortgages as Mortgage Consultants receive
their fees from the financial institutions. However in some
circumstances lender/broker fees may apply.
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Q. Are
the rates up to date?
A. Yes, the rates at Lighthouse Mortgage Corp. are updated at the
same time they are announced.
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Q. Can
I ask for a lower rate?
A. You are under no obligation to accept the rate that is offered
to you. It is no secret that some lenders offer lower rates for certain
mortgage products to prime customers. If you feel you should be offered
a lower rate, let the lender know in the "comments" space
provided.
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Q. Can
I apply for a mortgage with one of your lenders even if I am not
currently doing business with them?
A. Absolutely. Any participating lender would be pleased to
receive your application and do business with you.
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Q. What
if my bank isn't one of your lenders?
A. If your financial institution is not a participating lender
you will not be able to send an application to them. However, once you
explore the features and rates offered by our lenders online, we don't
think you will want to go elsewhere!
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Q. Will
anyone know if I get turned down?
A.
Your personal finances are entirely confidential- nobody will know the state of your application other than you, the lender, and Lighthouse Mortgage. All of our brokers follow very strict privacy guidelines to protect your personal information. If you do happen to be turned down by the lender, we are more than happy to give you advice on how to improve your financial situation so that you are more likely to get an approval in the future.
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Q. If
I qualify, am I committing myself to apply with a participating lender?
A. No. You are under no obligation to apply for a mortgage even
if you qualify. Nor are you under any obligation to accept whatever
mortgage terms a lender offers you after you send in your application.
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Q. Is
it possible to get an amortization schedule here?
A. Yes. Go to our Mortgage
Calculators section. Feel free to print out your results.
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Q. Where
is this service available?
A. We are located on beautiful Vancouver Island, but we are able to arrange mortgages for properties anywhere in Canada. We often deal with mortgages for properties in Alberta and mainland BC.
Contact
Us
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Q. Is
there a special place to get a home improvement loan, or do I go about
it the same way as a mortgage?
A. If you are planning to refinance your mortgage to do your home
improvements, this is the perfect place to do it. If you are looking for
a home improvement loan, we suggest you contact one of our consultants
directly.
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Q. Is
this service provided for primary residences only or can we also apply
for an income property mortgage?
A. You are asked a property usage question. Indicate that the
property will be a rental. Please note that not all lenders have the
same underwriting guidelines and they may need to get more details from
you.
