Maintaining a mortgage can be a challenge for the best of us. As much as we try to predict the next five or ten years of our lives, often times our needs change without notice. From natural disasters to unexpected miracles, homeownership is full of financial twists and turns. Manulife One offers a mortgage alternative that will transform how you experience borrowing.
A Different Way to Borrow
Traditional banks like to keep your finances separate. The money you earn from income or investments is kept in one account and the money you owe such as your mortgage or other loans is kept in another. All this serves to do is make you earn a lower interest rate on your deposits and paying a higher interest rate on your loans. Unsurprisingly, this helps to keep you in debt longer as you’re paying more interest in the long run. A mortgage from Manulife One consolidates your deposits and debt into a single account, ensuring that every penny you earn goes towards your debt.
The Benefits of Consolidation
Repaying higher-cost debt on a constant basis will reduce your interest costs significantly. Just imagine your life being 100% debt free, with a Manulife One Mortgage, that dream can become a reality much sooner than you think. In addition to paying off that debt quickly, you are also more in control than ever before. Clients that stay within their borrowing limit can decide when and how they want to repay. Money already repaid can be accessed too, just in case a surprise comes along that you weren’t financially preparing for.
Who Should Consider Manulife One
As with any of our products, a Manulife One Mortgage is not for everyone. This mortgage product is for those who:
- Already have a mortgage and are looking to refinance with at least 20% equity.
- Are looking to purchase a new home and have a downpayment of 20% or more.
Monthly fees are kept low for borrowers, however those who maintain a positive balance of at least $5000 get this product for free!
Are you tired of long standing debt that never seems to get paid down? Are you ready to experience a whole new way of banking? Contact us today to learn more!