Mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Butler Mortgage PayOff

Advertiser Disclosure

Repayment of loan

Butler Mortgage offers customers its renewal services so they can find better conditions. The company works with more than 14 banks, trust companies, and other financial institutions to provide customers with the most suitable mortgage rates. They take the time to structure a plan to allow customers to pay off their mortgages faster. The approval usually takes about 24 hours. As most of the company's partner institutions are only mortgage lenders, most of their time and effort are focused on the mortgage market. There are no fees for the lender switch, so customers can simply use the company’s services and let them find the lender that would fit clients’ needs mostly. The company’s renewal rates are the same as other mortgages and vary between 4,24% and 5,32%. 

Moreover, the company allows customers to apply for a second mortgage that will be registered against the title of the customer’s home. That is called a home equity loan. 

Early payoff

Customers who want to pay their mortgage off before the end of the term have such an option. Butler Mortgage offers two types of mortgages: the open one and the closed one. The open mortgage allows customers to make extra payments towards their mortgage principal and even lets them pay off their mortgage entirely whenever they wish to. In addition, there are no additional fees for an early payoff, so if customers decide to pay off the mortgage, they will be able to do it. On the other hand, customers who have a closed mortgage will not have an opportunity to pay it off for free. Instead, they will have to face prepayment penalties from lenders.

Butler Mortgage repayment

FAQ

How do I make a payment on Butler Mortgage?

Customers can set up automatic withdrawals to make regular payments for their mortgages. However, methods of payment mainly depend on the lenders that the company works with.

What happens if you don't pay back Butler Mortgage?

If customers can’t make a regular payment, they need to contact the company. Unfortunately, this could damage their credit scores and lead to penalties.  

Can you pay Butler Mortgage early?

Yes, customers can pay their mortgages off entirely before the end of the terms without any fees if they have an open mortgage. If they have a closed mortgage, they will meet the prepayment penalties.

Can Butler Mortgage sue you?

Unfortunately, there is no such information in available sources. However, usually, a trial eventually follows a default. In these cases, customers' credit scores decrease, and their files are transferred to a collection agency.

Financial products
Butler Mortgage
Mortgage
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $1,000,000
Rate
i

Effective interest rate on the product

up to 5.32%
Term
i

Loan term for the financial product

up to 10 years
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60 months
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$500-$15,000
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Effective interest rate on the product

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Loan term for the financial product

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7000.00 – 25000.00 C$
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Effective interest rate on the product

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Loan term for the financial product

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Calculate loan payments in Butler Mortgage

Butler Mortgage calculator will allow you to calculate an approximate payment schedule for the loan

Butler Mortgage calculator
Interest rates are given in accordance with the rates of the Butler Mortgage of 23.06.2024
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All Butler Mortgage’s reviews by june 2024
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