Highline Mortgage


Frequently Asked Questions.

Mortgage brokers can work with multiple lenders to find you the best possible product to suit your needs. A bank will only be able to offer you their mortgage products and their rate. Highline Mortgage can get you discounted rates from lenders you would not have heard of otherwise.

Mortgage brokers do not work for free, but the good news for you is, our residential mortgage service is free for you! Highline Mortgage instead earns commission from the lender that we find for you.

How much you pay throughout your contract in a fixed-rate mortgage is fixed. This means that the interest rate does not change throughout. In a variable rate mortgage, the interest rate changes based on what the national interest rate is. This could mean you pay less or more, depending on whether the national rates rise or fall.

An open mortgage can be entirely paid off at any time, but a closed mortgage cannot be repaid in full before the end of its term, allowing only limited pre-payments.

Yes! Though a bank may reject you outright if you have bad credit, a mortgage broker can help you find a lender that will work with you. Highline Mortgage works with a variety of lenders, so we can help you turn the bank’s “no” into a resounding “yes!”

All three are essential when buying a new home, but we all play different roles. A mortgage broker will solely help you find a lender and apply for a mortgage with the said lender. A lawyer will help you finalize the mortgage, and a real estate agent helps you find your home.

A commercial mortgage is used for your business, like a storefront or apartment building you’re renting out. A residential mortgage is to buy a property for you to live in.


A commercial mortgage will cover various buildings, including, but not limited to, an apartment building, a hotel, an industrial building, a shopping mall, an office unit, and retail plazas.

Traditional lenders are typically banks or other similar institutions, while the conditions necessary to be approved for a private mortgage are not as high. This means that people with bad credit or who were recently bankrupt are more likely to be approved for a private mortgage.

Anyone can get a private mortgage loan, but it is not beneficial for everyone. A private loan is more of a last resort for people that could not get approval from traditional lenders.


Private lending is typically a last resort option for borrowers that cannot get approved by traditional lenders. It is also best used short term, not long term. It is a good idea for those who need money immediately and either have bad or no credit, are self-employed, or have recently declared bankruptcy.

A reverse mortgage is a loan that homeowners can take from the equity in their home without selling it. A reverse mortgage is only available to seniors above 55 years old.

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