Loan Types
As a Mortgage Broker, we have access to nearly every mortgage product on the market. When you complete an application, our job is to obtain the best possible financing solution given your specific goals and financial circumstances. The loan types and programs we offer can be broken down into the following categories. Visit our How to Apply page to learn more about our ClearPath™ application process.
FAQ
How do mortgage brokers differ from banks/retail ? The user experience with a Mortgage Broker and bank/retail lender is the same in many ways, you work directly with us and our loan officers, just as you would with the loan officers at a bank/retail lender. The key difference is where your loan is funded and how that impacts your options, rates, and costs. When you work with a bank or direct to consumer retail lender, you’re limited to that institution’s loan products, rates, and guidelines. As a Mortgage Broker, we still handle the entire process, but instead of using a single bank’s products, we access wholesale mortgage lenders that fund the loans. These lenders don’t work directly with consumers, they provide funding through brokers like Murray Mortgage Solutions, allowing for lower rates, reduced fees, and a wider range of loan options. So while the process may feel similar, working with a Mortgage Broker not only provides access to better rates and lower fees but also delivers a more personalized, flexible, and streamlined experience tailored to your needs. Visit our “What is a Mortgage Broker” article to learn more.
Cash-Out refinance vs HELOC? A cash-out refinance restructures your existing mortgage by increasing your loan amount and giving you cash from your home’s equity, usually at a competitive rate. If you already own the property free and clear, you can also obtain a Cash Out refinance. A home equity loan functions more like a personal loan secured by your home, with a payment separate from your mortgage. We will work with you to determine which of the 2 options makes sense given your financial situation and desired outcome.
Which loan type is best for me? The best loan type depends on your financial situation, credit score, down payment amount, and long-term goals. When you work wish us, we lay out all of your options and which route we believe makes the most sense. We'll look at it from every angle possible to ensure you meet your goal. If we feel that your scenario is something we can't assist with, we will put you in touch with someone who can.
How do I know if I will qualify? Since we have access to numerous loan programs with different requirements, the best way to determine your eligibility is by completing an application. This allows us to assess your credit, income, assets, and overall financial profile to match you with the best mortgage options available. Whether you’re a first-time homebuyer, refinancing, or have unique financial circumstances, we tailor our recommendations to fit your needs. Visit our How to Apply page to learn more.
Do you offer commercial lending? We currently specialize in residential mortgage financing, but certain properties and loan types may fall into a grey area between residential and commercial lending. If you're seeking financing for a multi-unit property, investment property, or mixed-use property, we may still be able to help depending on the loan structure. If your scenario requires a true commercial loan, we can help point you in the right direction and connect you with someone we trust. The best way to determine if we can assist is to reach out and discuss your specific needs.
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