Typically you would think that you
have to sell your existing home before you buy your next
home. That’s not true anymore. A Blanket
Mortgage enables you to utilize the equity from your
existing home toward the purchase of the new home.
Advantages
Depending on the amount of equity that
you have in your existing home you can possibly buy that new
home with out having to put any money down.
Get Top Dollar & Don't
Hesitate
People are hesitant to trade up to
another home because they’re fearful that there not going to
be able to sell there existing home quick enough or that
there not going to be able to get top dollar for their home.
By using this strategy it allows you to wait and get top
dollar for your home and not feel pressured to have to sell
to an unattractive offer.
Low Carrying Costs
Most people will ask the question- are
the carry costs going to be to high to afford before I sell
my existing home….and the answer to that is that while you
are carrying more debt currently, the Blanket Mortgage is
going to give you a payment that is 45% lower than a
conventional mortgage.
Hence, making the carrying cost a lot
more affordable for you.
Reduce the Balance & Payments
are Recalculated
Once you sell your existing home, you can
take the proceeds from that and pay down the new mortgage.
You can actually have your payments recalculated to reflect
the new lower balance and you don’t even have to refinance
and pay the closing costs again to do that.
Find out today's rates.
North Atlantic
has
hundreds of programs
so If you don't see what your looking for call or
e-mail
us for an addition product list.
