You Find Your Dream Home, We’ll Find You A Mortgage
Buying a new home is a lifetime decision and an expensive investment. If you are a first-time home buyer and looking for the best mortgage broker in Abbotsford and Surrey, Satbir Bhullar Mortgages is your go-to choice. We assist potential homebuyers in realizing their dream of owning a property with quick residential mortgage approval at a competitive interest rate.
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Our mortgage consultants take time to understand your homeownership goals and the financial situation you are in. We assess your mortgage requirements and work with our network of mortgage lenders to negotiate the best possible mortgage deal for you.
When it comes to buying a new home, getting a mortgage pre-approval can really help. We can lock-in a competitive interest rate for you, so that you can search and seal your home deal with peace of mind. Not only this, we search the best possible mortgage and negotiate the rate to make sure you end up saving more.
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Your search for the best mortgage broker in Abbotsford & Surrey ends with Satbir Bhullar Mortgages. We search, shortlist, negotiate, finalize and close a residential mortgage deal at the best rate.
The number of mortgages you can have is unlimited. Rather, people are constrained by their capacity to manage several mortgages or their financial status. First and second mortgages are two mortgages that are typically held concurrently on a same property.
Second mortgage is a second loan or funding you take on your residential property. Interest rates on second mortgages are usually higher than first mortgages and you need to pay both your mortgages at the same time.
A conventional mortgage in Canada is a loan where the down payment is at least 20% of the property’s purchase price. This means that the loan amount is 80% or less of the property’s value.
In Canada, you can mortgage a home for 25 years. If you are a first-time buyer or purchasing a new build you can mortgage it for 30 years. These rules took effect on December 15, 2024.
The minimum amount you need for your down payment depends on the purchase price of the home. If your down payment is less than 20% of the price of your home, you’ll typically need to buy mortgage loan insurance. If you’re self-employed or have a poor credit history, your lender may require a larger down payment.
Interest rates either rise or fall. But a study suggests that homeowners with a variable mortgage fair better than a fixed rate one.