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CreditMaster® is a different kind of mortgage. Flexible and re-advanceable, it builds your borrowing power as you pay down your mortgage and your property value increases. In other words, the money you put into your mortgage today is money you can still use tomorrow.
Other financial institutions register a set amount and clients can only borrow up to that set amount. For example, let's take a mortgage registered for $400,000. Clients owe $300,000, which means they have $100,000 in equity in their home. They can borrow (some conditions apply) that extra $100,000. If more funds are required a re-registration is required which could cost additional legal fees.
With a CreditMaster mortgage as long as there is equity in the house we can readvance without additional legal fees or the headaches that come along with it.
The CreditMaster® Mortgage is more than just a great mortgage that saves you money. As your borrowing power increases, you can use the CreditMaster® to consolidate debt, fund your child's education, renovate your home or start a new adventure. Whether you choose to do some of these things, none of these things, or different things entirely, your CreditMaster® mortgage will always provide you with the freedom of knowing you can.
Have more questions about if a CreditMaster® Mortgage is right for you? Contact us through the link below.