Mortgage Brokers and HELOC Experts Canada
Do you ever want to discuss your personal finances with a local professional but find it hard to connect with someone in a meaningful way?
Often times, lenders and financial brokers feel like they really don’t understand you or your situation. They make you feel ashamed of your personal finances and past choices.
With Morgix, we will talk with you and advise a personal financial strategy that will make you feel comfortable. We want you to feel glad you walked in our door.
Let Morgix put you at ease in your financial present and future. We are people too, just trying to get by in our daily lives as well. We know what you are going through and have many possible tools to help really make a difference in your finances.
How Can Morgix Help Me?
You might ask yourself ‘how can Morgix help me with my finances, my situation is completely unique?’
That may be true, everyone is ultimately unique in their personal finances, but there are many factors that remain the same. Despite all of the differences in each person’s situation, we can help.
That’s what Morgix aims to solve for you and your family, starting with our mighty helpful services:
Here’s a List of Morgix’ Financial Services:
(Don’t worry, we’ll break them down and explain)
Morgix Home Equity Line of Credit (Morgix HELOC)
We hear a lot about home equity lines of credit, and how HELOC’s can be a great way to pull funds from the value you’ve paid down in your home… SOME people get confused about what this actually means.
The big thing about a home equity line of credit that you need to keep in mind is that it’s not the TOTAL value of the home that you are borrowing against. It’s just the portion that you have paid down. Now, you’re probably saying “yeah, that certainly makes sense now that I think about it”.
Otherwise you’d be double dipping into a loan, which never ends well.
For example, let’s say you’ve a home that you have $50,000 equity in (the portion you have paid down, after a couple years, or extra payments). The home itself maybe valued at $300,000 or even $100,000. The point is, you have $50,000 of EQUITY.
Equity: Definition: If you hear the term equity, you may shake your head in confusion, but what it really means is ownership. Equity is a stake in something. A portion of ownership. Your portion of ownership in your home (the lender would have the remaining portion of equity in your home).
A Morgix HELOC is great because you are able to use this equity and re-purpose it for other needs you may have, such as renovations or emergency expenses. Without adding an extra debt burden to your current state, this is a great product offered by Morgix.
More information on: Morgix home equity line of credit
Morgix Second Mortgage
A Morgix second mortgage is rather similar in theory to a HELOC, with the difference being rooted in the term and payment structure of the loan. a home equity loan is more open ended, and can just be repaid as part of your normal payment structure. A second mortgage, or closed term HELOC, must be a pre determined amount of money, and must be repaid during a fixed period.
Here’s another good reference for the difference between the two types of loans:
Besides the amount and term differences, the principal is the same — You’re borrowing money against the equity in your home. Use these funds for vehicle expenses or emergency needs.
Most people opt for the open ended HELOC, but if a second mortgage works for you, go for it!
Our specific page for second mortgages is here on the Morgix site.
Morgix Debt Consolidation
(Our personal favorite for helping families, young and old)
Our Morgix agents have always been big fans of debt consolidation loans. Even if you don’t have a home to leverage for something like a home equity loan, or a second mortgage, you are still able to tackle your debt with a debt consolidation loan.
Personally I wish I had known that debt consolidation was a thing ages ago. There was a time when the only financial option I could consider for my situation was to sell our home and downsize. That was the only clear choice at the time.
That decision wasn’t terrible, as we did make some money off of the home. Though, looking back, I wish we’d kept the house and either refinanced, or consolidated the debt. Doing so would have allowed us to keep a nice home, and manage our finances without fleeing for our lives.
If you’re currently renting a house or apartment, and are having trouble making all of your obligations:
- Credit cards
- Loan payments
- Car payments
- Student loans
You can certainly talk to a Morgix advisor about how to tackle debt. Let’s lump it all into one place so that you have a clear financial objective.
What’s a clear financial objective?
Rather than having 4 different obligations (debts, loans etc), if we lump them all together, you now have a single target to pay off. Looking at a statement that shows $20,000 as a target is certainly a more challenging number to see.
However, looking at multiple instances of $4000 here, and $2500 there can make you think that your debts aren’t that bad, or out of control at all.
Put it together for a bigger, but better target with a debt consolidation loan from Morgix. Our goal is to make your life better, and figure out ways to keep more of your own money in your pockets.
Visit your nearest Morgix office:
Vancouver, British Columbia
Call anytime: 1–844–301–2796