Finding the best mortgage solutions for Canadian military

There was a time when buying a home gave you two or three simple options: applying for a fixed-rate mortgage, getting a government insured loan or an ARM. However, times have changed and the home buying and mortgage market has expanded greatly, now being a series of various other options and solutions that interested buyers have when it comes to purchasing property. There is such a thing as the open mortgage, which allows you to repay the mortgage at any time, the closed mortgage, the high ratio mortgage and so on. All of these solutions are differentiated by the terms and conditions of their policies, whether it’s about interest rates, payments frequency or repayment terms and conditions, but when it comes to individuals working in the Canadian military, none of these really matter. Canadian military personnel and their family only have one very important factor that influences their choice of mortgage and that is the possibility of early relocation, reason for which mortgage solutions for Canadian military look different.

Indeed, people working in the military or the DND are often faced with having to relocate before the term of their mortgage, which is a huge inconvenience, as there are significant fees for moving before the end of a mortgage loan. However, there are certain types of loans and mortgages that offer a certain flexibility when it comes to this sort of situation, which is why it is important for soldiers and DND personnel to find and resort to the services of a specialized military broker who can help them benefit from the best suitable mortgage solutions for Canadian military. This means increased flexibility on terms and the ability to enjoy the lowest possible rates, even though you might relocate in future postings before the mortgage term is completed. Not only that, but a specialized broker might be able to offer you mortgage loans that guarantee a penalty fee not higher than three months simple interest, because that is the amount that the government will reimburse families for.

 

All things taken into account, when it comes to finding the best mortgage solutions, different people and families have different needs and what may matter for some lacks importance for others, which is why it is crucial that people resort to the services of specialized brokers, who have the experience and expertise to offer them the best suitable choices for their particular cases. This is universally valid for all people applying for mortgage, but even more so for soldiers and DND personnel, who need to find the best mortgage solutions for Canadian military, as their situations are more sensitive and more prone to change. Fortunately, we live in the Internet era, so finding and resorting to the services of a well-established and highly specialized broker is not such a difficult task, not to mention the fact that there is plenty of information available online on the different types of loans and solutions on the market.