What are people saying?

" Lorraine's detailed knowledge of the Real Estate business is a very important factor in her success as an Agent. Her honesty and integrity allows you to feel confident that the best job is being done for you. "
Mary Pinkney
Search this Site
Search Lorraine Jordan Search Web Google
Mortgage Features and Incentives
Mortgages Explained Lenders constantly add additional features and incentives to their mortgage products to attract business in what is a highly competitive market. You should look for the mortgage that best suits both your cash flow and your personal long-term goals. There are many types of mortgage payment structures available, offering both flexible monthly payments and pre-payment options that can save you significant amounts of money over the long term. It is definitely worth looking into your options before signing up.

Most mortgages are very similar to one another and have common features such as...
  1. They are portable:
    You can sell your home and move the mortgage to another property without breaking it and having to pay a penalty. This feature is very attractive if you mortgage has a good interest rate and you want to take it with you to your new home.
  2.  
  3. They are assumable:
    The new purchaser can take over your mortgage and assume the payments. Usually the lender's approval is required before this is allowed.
  4.  
  5. They have pre-payment privileges:
    Such as up to 10% extra payment against the principle on the yearly anniversary date or monthly double-up payments. All prepayments are deducted from the principal amount owing and do not go toward accrued interest.
  6.  
  7. Auto Renewal Privileges
    You don't need to re-qualify financially when the mortgage term is up in order to renew the mortgage. This could be very important if your financial situation changed or if you debt load increased and you don't re-qualify under current rules.
  8.  
  9. Allow weekly,bi-weekly or monthly payments
    By switching your payment schedule from monthly to weekly or bi-weekly you are able to shorten the mortgage amortization period and save a substantial amount on interest payments.

  • Your Dream Home
Build Your Dream Home
  Helicon New Homes partners with Lorraine Jordan
  Find out how to plan your Dream Home here >>
  • VIP Club
  • Become a FREE member of our VIP Buyers' Club and receive the newest listings on the market that match your criteria!
  • Get started here >>