Manulife One mortgage Vancouver

We are able to offer our clients the Manulife One mortgage product in Vancouver BC. We use the Manulife One Mortgage to help our clients save money.

Manulife One mortgage Vancouver - We are able to offer our clients the Manulife One mortgage product in Vancouver BC. We use the Manulife One Mortgage to help our clients save money.

Please Click here:- https://bc-mortgage-broker.ca/manulife-one-mortgage/

Manulife One mortgage

I am fortunate to have a strong relationship with Manulife Bank, and am able to offer my clients the Manulife One mortgage product, which combines a mortgage with a line of credit and also can serve as your primary bank account!

In addition to competitive interest rates and reasonable penalties (compared to chartered banks) Manulife One mortgages offer the greatest possible flexibility to any mortgage borrower. You can have your payroll deposited to your Manulife One account, you can use it to pay bills with, and for those with fixed incomes such as pensions, it can be treated as a kind of reverse mortgage (not that I promote it that way, but it has that flexibility and somewhat better interest rates and flexibility than other reverse mortgage products). As far as I am aware, it is also the only mortgage product still available in Canada which can work for the Smith Manoeuvre (or tax deductible mortgage).

How does the Manulife One mortgage work?
The video at the top of the page gives a decent overview of the product, but the easiest way to understand the basics of the Manulife One mortgage is by using an example.

Let’s pretend that you need a $400,000 mortgage on a $800,000 house. Instead of a $400,000 mortgage, you get a Manulife One mortgage. Instead of getting you $400,000, we will get you a total of $500,000 instead. However, you only need $400,000, so within that $500,000, we will arrange a $400,000 fixed rate mortgage for you, and the remainder ($100,000) will be a Home Equity Line of Credit (HELOC).

The HELOC is like a regular line of credit like you would get from a bank, but since it is secured by your home, you can get a larger amount and get it at a much better interest rate. Since you don’t need the $100,000 right now, you can leave it un-borrowed and use it at some time in the future when you need it. In this way, you save money instead of borrowing it and putting it into a savings account, which is what you would need to do with a regular mortgage.

Contact the US:-

200 - 2851 Simpson Rd. Richmond, BC V6X 2R2 Canada

2125-88 W. Pender St. Vancouver, BC V6B 6N9

778.957.2789

[email protected]