FAQ’s

1. What does a mortgage broker do?

   A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. … Mortgage brokers exist to find a bank or a direct lender that will be willing to make specific loan an individual is seeking.

2. What kind of clients do you work with?

   Combined Mortgage works with people from every walk of life in every circumstance.

3. Should I consider a mortgage to help with my debt?

   Yes, this is a very common use of a mortgage loan, to consolidate credit cards, lines of credit or and other outstanding debts, you can reduce your monthly payments by up to 2/3rd’s in some cases.

4. Do I need perfect credit?

   No you certainly do not, there are many many lenders out there who take the entirety of your situation into account when determining loans. We have a wide network of these lenders who deal exclusively with brokers.

5. What is a home equity loan?

   Also known as a Home Equity Mortgage. Chances are the value of your home has increased since you bought it, a home equity loan can get you access to money based on the increased market value and the amount paid down on your existing mortgage.

6. What about re-financing my current mortgage?

   There are numerous reasons why borrowers may choose to refinance the loans they already have. Some of these include:

   1. Lowering the monthly payment
   2. Lowering the interest rate
   3. Switching from an variable rate mortgage to a fixed rate mortgage or, vice-versa
   4. To refinance for a higher amount in order to pay off other debts or get cash
   5. To change the remaining term of the loan
   6. An existing lender may choose not to renew the existing loan and a new lender is needed