As mortgage brokers, one of our favorite mortgage lenders to work with is ING Canada. No doubt you have seen one of their commercials or heard of their clever unmortgage product.
The ING “unmortgage”
You may be wondering, aside from their distinctive Dutch Orange, what makes ING such a different and great mortgage lender?
For starters, they always offer you their lowest rates. None of this posted rate business. This is important because at maturity, or if you need to refinance, ING will always offer you their lowest rate which is usually among the most competitive across the entire mortgage market.
Industry leading 25/25 prepayment privileges allow you the opportunity to increase your monthly payment by up to 25% of your original payment. In addition, you can make a lump sum payment of up to 25% of the original mortgage amount on any regular payment date.
If for whatever reason you break your ING mortgage to refinance or move, but decide to stay with the orange lender, they will offer you a 25% reduction to your interest penalty. This is very generous and not offered by any other lender in the market. It has helped many of my clients literally save thousands of dollars.
ING gives you the option of amortizing your mortgage up to 35 years for conventional mortgages and 30 years on high ratio mortgages.
They are also one of the few lenders who offer the full range of payment frequencies including monthly, semi-monthly, weekly, bi-weekly as well as accelerated weekly and bi-weekly options.
If you are absolutely stretched one month due to “life” happening, ING gives you the option of skipping a payment to give you a break and cashflow relief.
Other tips to know about ING
-ING is headquartered in one of the oldest banking capitals of the world, Amsterdam in the Netherlands.
-ING stands for Internationale Nederlanden Group
-ING is one of the 20 largest financial services companies in the world
– Unfortunately, not everyone is a potential ING borrower. They have some very strict policies and guidelines and aren’t as lenient as other lenders.
Looking for an ING unmortgage? Let me work on your behalf. Get the best mortgage with the most most unbiased advice. Contact me here or book a call directly into my calendar below.
