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Getting a Cottage Mortgage Ontario for Your Vacation Home

Posted by Ontario on October 2, 2015 in Business, oakville ontario with No Comments


cottage mortgage OntarioOntario has a vast amount of gorgeous lakes and cottage settings for Canadians to escape to during the summer months, or even all year round. Owning your very own cottage to use at your leisure makes vacationing that much more enjoyable and convenient. There are often bargains to be found in the fall or winter, and many cottages are also conveniently located near ski hills – making them the perfect year round destination.

When you have decided to purchase your own cottage or vacation home, it’s in your best interest to speak with a mortgage specialist, such as Claire Drage, who has the necessary expertise to help you arrange the best cottage mortgage to help finance your Ontario vacation home.

Cottage Mortgages – Consult the Experts

When you are shopping for a mortgage, you will naturally want to lock in a low interest rate. However, cottage mortgages are not necessarily only about rate, but also about the conditions and terms of the mortgage that will allow you to pay off this second home mortgage as quickly as possible. This is where the services of a knowledgeable mortgage broker can help arrange the perfect structure for your cottage mortgage Ontario.

There are generally two types of cottages:

Type A – These types of cottages are those that are generally used year round, even throughout the winter months. Because of this year-round use, these homes usually have heating and road access, and are zoned appropriately (residential, seasonal or rural). Home buyers can get financing for up to 95% of the home’s price.

Type B – These vacation homes are usually used only during the summer months, and therefore don’t usually need or have a heating system. These homes have seasonal road access, and can be financed up to 75% of the home’s price.

You can begin creating memories that will last a lifetime by spending quality moments with friends and family at a fun and relaxing vacation home. Getting a mortgage specialist to help you attain the proper cottage mortgage can help to make these memories happen right away.

Mortgage agents, like award winning Claire Drage, can find you the right mortgage terms, conditions and rates that are customized to suit your particular situation. Claire can connect with lenders across Canada, and find the one who will provide you with the lowest rates and the best terms possible. You only fill out one application and have one credit report pulled. Claire can then shop your cottage mortgage over big banks, private lenders, trust companies, credit unions and other financial lenders. Payment options can be quite flexible, and tailored to your financial position so that you can make comfortable payments, while paying off your mortgage as quickly as possible.

cottage mortgage financingGet Claire to help you realize your dreams of buying the perfect vacation home for you and your family.  Her and her team also do mortgage renewals, home equity lines of credit, new to Canada mortgages and mortgage refinancing.

Call Claire today for a personal and confidential financial evaluation and consultation.  She could save you thousands on your mortgage – all at no cost to you!  Give her at call at 289-679-0123 or learn more at www.yourmortgageoptions.ca.

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