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TMG The Mortgage Group

Our 316 Main Street Location is OPEN:

 We have opened our office and are currently working. 

We will likely be keeping our front door locked until December 10th, however online or phone appointments will still be happening while we are here at the office. For a faster response... please book your time, or apply online.


  • More For You Here: one-stop shopping at Castle
    Instead of spending your valuable time meeting with competing mortgage lenders, Castle can quickly narrow down the list of lenders that will help you achieve your financial goals. We will make your comparison-shopping fast, easy, and convenient. We’re from Steinbach and proud of our heritage. There truly is More For You Here.
  • Experienced Advice
    Our goal is to provide you independent expert advice on your financial options. Leverage our 15+ years of expert residential mortgage advice. There is a lot of value you can gain working with people that "have seen it before". There is no situation we have not seen or worked with. Castle can offer you mortgage products that will best match your specific needs including online lending institutions, banks, or local credit unions. We Know Mortgages.
  • How Castle Gets Paid: Lenders Pay Us For Administration
    There's absolutely no charge for our services on residential mortgage transactions. Lenders work with Castle Steinbach because of our professional approach, complete applications, and our honesty in lending. When we submit our applications, lenders gain a new customer with minimal effort that includes audit friendly paperwork already in hand. This time savings translates into saving time, saving staff labor, marketing costs, which then lenders can rationalize why they want to pay us for our assistance. If we at Castle attract quality business, it is worth while working with us, period.
Why Should You Use Our Services?
Read our Google Reviews. Rather than us talking about why we think we are great, please take the time to read why our customers like working with us. We try hard to impress our clients. We are a small boutique mortgage brokerage, and we try to create a good experience that encourages our clients to come back to Castle for their renewal.  
 
We will also ensure that you're getting the best rates and terms at time of Renewal. Even if think you are getting the best deal at time of renewal, with a simple phone call or face to face meeting, we can affirm you that either you are getting the best option, or what else you can get from the market with no cost to you. We have had clients engage us during the renewal, not change lending institutions and our advice has helped save them over $10,000 in interest savings over their new term. Read our Google Reviews to see our clients comments on their experience with us.

Think Outside the Branch for Your Mortgage
New Mortgage
Need a new mortgage? We'll help you pick the right fit for you and your budget.
Renewal
When it comes time to renew your mortgage, we'll help you review your options and make the renewal process simple and easy.
Refinancing
Sometimes, refinancing is your best option for a variety of reasons. Let us review your options and do the hard work for you!
Get started with your application now!
We're here to help with your mortgage needs, refinancing, new home purchases or mortgage renewals.
Types of Mortgages

A fixed mortgage offers you the security of locking in your interest rate for the term of your mortgage, so you know exactly how much principal and interest you will be paying on the mortgage during the term. Terms range from 6 months to 10 years. Fixed rate mortgages offer some form of pre-payment, from 10% to 25% of the original mortgage balance each year, depending on the lender. If you wish to pay off your mortgage in full, there will be a penalty of either 3 months simple interest, or an Interest Rate Differential (IRD). The benefit of this mortgage is the rate is lower than an open mortgage, making it a more popular option if you have no plans to pre-pay it in full during the term you select.

A variable-rate mortgage allows you to take advantage of today's low Prime Rate. Most variable rate products are set below prime, terms range from 1 to 5 years. Payments vary depending on the product or lender you choose. In some cases you can fix your payments for up to 5 years, but the interest rate will fluctuate as the Bank Prime Rate changes. In other cases your monthly payments will fluctuate depending on how many times the Prime Rate changes during your term.

An open mortgage has no restrictions. It will allow you the flexibility to pay off some or the entire mortgage at any time, without penalty. Interest rates are usually higher and these types of mortgage are good for a short term when you are transitioning from one product to another product. Normally it is not good long term to stay in an open mortgage for more than 1 year. 

A closed mortgage simply has a number of restrictions. Closed mortgages will be highly advertised mortgages based off the RATE you are getting, but don't describe the contract you are gaining with the closed product. Closed mortgages normally have a portion or percentage you can pay off penalty free per year, and the remaining amount will be subject to a penalty. Not all penalties are calculated the same. Here at Castle Steinbach, we have developed a tool to visually show you the penalty structure you will be signing up for before you commit to your closed mortgage. 

Most common penalties are:

1) 3 months of interest

2) 6 months of interest

3) Interest Rate Differential or IRD

4) A base penalty of 2.75% or 3.25% of the outstanding principle of your mortgage. (Newer penalty)

 

All penalties are openly disclosed with the "Standard Term Charges" you will sign at the lawyers office or at the local branch. Although you would think the education of this would be required at any of those 3 locations, it is a topic that needs to be paid attention to. There are significant costs to paying out a mortgage early, choose a product that won't steal your funds unexpectedly at the end. 

The Rates, Today
Because we work with a wide variety of lenders we can access competitive, lower-than-advertised interest rates. Check back often to see how these rates compare to average bank rates.
How Much Can You Afford?
Use this mortgage calculator to help you figure things out
Google Reviews
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