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Home > Financial Services > Mortgage Brokers > Blue Chip Capital Inc.
Blue Chip Capital Inc.
A Mortgage is a document that contains the details of an agreement between two parties. One of which is a borrower and the other party is a lender. The Agreement will include information like, Loan amount, Time period of the loan, Interest and the collateral on the loan which is normally the property being bought. A mortgage broker is generally a person or company whose expertise lies in the field of mortgage laws, properties available for sale, and loan procedures. They provide these services to clients for a fee which is usually a percentage of the loan or property amount.
Blue Chip Capital's online source is for mortgage refinance, home equity and debt consolidation loans. Their goal is to advise you on the various alternatives for refinance and help you make the decision that is going to best suit your needs. Whether you are looking to lower your current interest rate, reduce your term, get a home equity line of credit, or consolidate high interest debt into a smaller tax deductible payment, they are here to help.
A home equity loan enables you to borrow money in a lump sum against the equity you have built up in your home. This loan is subordinate to the existing first mortgage. Buyers commonly use a second mortgage to keep their first mortgage in the conforming range and to avoid PMI. Home equity loans are often used to pay off credit card debt, pay tuition or to make major renovations to a home. If you want to get cash out this may be the best option for you.
The interest rate on this loan will be fixed for a stated period of time and will then become adjustable for the remainder of the loan. For example, a 5 year fixed loan would have a fixed interest rate for the first 5 years and then convert to an adjustable rate for the remaining 25 years. You can choose from 7, 5, 3, 1 year and 6 month programs. If you believe you will own your home for less than 5 years, this may be the best option for you.
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