Below are answers to the most common questions asked about mortgages at Resourceful Capital Financial Corporation. Don’t see your question? Call 1-888-882-0786 to talk with a mortgage broker.
How much can I afford?
Buying a home will most likely be the largest purchase of your life—so you need to be sure that you own a home that’s compatible with your financial situation.
The simplest way to determine how much home you can afford is to compare your gross income to your total debt.
Use our “How much home can I afford? ” calculator to figure out the amount you can afford to borrow. It factors in your total earnings and debts to give you a maximum affordable monthly housing cost, including mortgage payment, property taxes, heating costs and condo fees if applicable.
Should I get pre-approved for a mortgage before I look for a home?
Yes, you should! Getting pre-approved for a mortgage is FREE and puts you under no obligation. Best of all, when you start looking at properties you’ll know what you can afford
When you get pre-approved for a mortgage, you will:
- Know exactly how much you can reasonably borrow to buy a home.
- Know what your mortgage payments will be.
- Have the confidence to negotiate your purchase and be taken seriously by prospective sellers and their agents.
- Understand the closing costs associated with purchasing a home, including legal fees and other expenses.
- Be able to lock in an interest rate for a specific length of time to protect against an increase in interest rates. If rates go down before that time period elapses, you will automatically get the lower rate for the term you selected.
After we receive your final offer to purchase, your mortgage can be quickly processed, subject to a satisfactory property appraisal and credit review.
Do mortgage brokers work for the bank or a financial lender?
At Resourceful Capital Financial Corporation, all of our brokers work for you, not your bank or mortgage lender.
What kind of clients do you work with?
Resourceful Capital Financial Corporation works with homebuyers from many walks of life. We’re even able to help those with poor credit, little money for a down payment, and those who are self-employed.
What do you charge?
Here’s some great news: Resourceful Capital Financial Corporation doesn’t charge you anything. Our fee is paid by the lenders we secure your mortgage through, not you. In special circumstances, and depending on the length and amount of the loan, we may have to charge a nominal fee. However, we don’t charge our clients in the vast majority of cases.
The Mortgage Down Payment
What is a mortgage down payment?
Your mortgage down payment is the portion of your home purchase price that you pay upfront yourself. The amount of your down payment (which represents your financial stake or the equity in your new home) should be determined before you start house-hunting.
- To secure a conventional mortgage, you’ll need a down payment of 20% or more of the purchase price of the home. Conventional mortgages have the lowest carrying costs because they do not have to be insured against default.
- Or, you can apply for a low down payment insured mortgage with as little as 5% down. Due to Government legislation, low down payment mortgages must be insured to cover potential default of payment; as a result, their carrying costs are higher than a conventional mortgage because they include an insurance premium.
The larger your down payment, the less your home will cost you in the long run. With a smaller mortgage, your interest costs will be lower and over time this will add up to significant savings.
See how a homeowner can save over $25,000 in interest costs on a $100,000 home by making a down payment of 25% versus a down payment of 5%.
Where can I find money for my mortgage down payment?
Here are some common strategies for raising money towards a down payment:
- Set up an automatic savings plan and save as much of your paycheque as you can afford.
- Use your RRSP as a down payment. With the federal government’s Home Buyer’s Plan, you can use up to $25,000 in RRSP savings ($50,000 for a couple) to help make the down payment on your first home. You then have 15 years to repay your RRSP. To qualify, the RRSP funds you’re using must be on deposit for at least 90 days.
- Get a cash gift from a parent or relative.
How can I buy a home with less than a 20% down payment?
If you have less than a 20% down payment, you will need a low down payment insured mortgage. Low down payment mortgages provide insurance to cover potential default of payment; as a result, their carrying costs are higher than a conventional mortgage because they include the insurance premium.
How can I use my RRSP to help buy my first home?
Many first-time home buyers use their RRSP savings to help finance a down payment. With the federal government’s Home Buyer’s Plan, you can use up to $25,000 in RRSP savings ($50,000 for a couple) to help make the down payment on your first home. You then have 15 years to repay your RRSP.
To qualify, the RRSP funds you’re using must be on deposit for at least 90 days. You’ll also need a signed agreement to buy a qualifying home.
Even if you have already saved for your down payment, it could make sense to access your savings through the Home Buyer’s Plan. For example, if you had already saved $25,000 for a down payment—and assuming you still had enough “contribution room” in your RRSP for a contribution of that amount, you could move your savings into a registered investment at least 90 days before your closing date. Then, simply withdraw the money through the Home Buyer’s Plan.
The advantage? Your $25,000 RRSP contribution will count as a tax deduction this year. Use any tax refund you receive to repay the RRSP or other expenses related to buying your home.
While using your RRSP for a down payment may help you buy a home sooner, it can also mean missing out on some tax-sheltered investment growth. Be sure to ask your financial planner whether this strategy makes sense based on your personal financial situation.
For more information, visit Canada Revenue Agency Website
What is mortgage default insurance?
Mortgage Default Insurance, commonly referred to as Mortgage Insurance, allows homebuyers to achieve the dream of homeownership with a low down payment. In Canada mortgage insurance is offered by three corporations: CMHC (Crown corporation: Canadian Mortgage & Housing Corporation), Genworth Financial and Canada Guaranty.
There are two types of mortgage options:
1. Conventional Mortgages – on loans with a minimum 20% down payment
2. High-ratio Mortgages – on loans with a less than 20% down payment. And as low as 5% down payment.
In Canada, mortgage insurance is required federally on high-ratio mortgages – that is, mortgages with a down payment of 20 per cent or less. This insurance, which protects the lender in case of borrower default, gives lenders the flexibility to offer borrowers with low down payments the same low interest rates they would offer to homebuyers with more equity.
Mortgage insurance premiums are based on the amount of the mortgage and although they can be paid in a lump sum upon closing, they are normally added to the mortgage amount and paid over the length of the mortgage.
This insurance is not to be confused with mortgage life insurance which protects homeowners and their families in the event of death or illness.
What is a fixed rate mortgage?
A fixed rate mortgage is a mortgage with a fixed interest rate for a specific term. This type of mortgage gives you the security of locking in your interest rate for the full term of your mortgage, so that you don’t have to think about interest rate fluctuations.
That means you’ll know exactly what to expect, including:
- The interest rate of your mortgage
- The amount of your regular mortgage payments
- The portion of your payment that goes toward principal and interest
- The amortization of your mortgage (how long it will take to pay it off)
You can get a fixed rate mortgage with a closed, open or convertible term.
What's the difference between closed, convertible and open mortgage terms?
A closed term mortgage may be ideal if you’re not planning to pay off your mortgage in the short term. Interest rates for closed term mortgages are generally lower than for open term mortgages. Closed term mortgages offer you the ability to save on interest costs and pay off your mortgage faster. You will pay a prepayment charge if you wish to renegotiate your interest rate or pay off your mortgage balance prior to the end of its term.
A convertible mortgage gives you the same benefits as a closed mortgage, but can be converted to a longer, closed term at any time without prepayment charges.
Open term mortgages may be appealing if you are planning to pay off your mortgage in the near future. They can be repaid either in part or in full at any time without prepayment charges. Open mortgages can be converted to any other term, at any time, without a prepayment charge. Interest rates for open mortgages are generally higher than for closed mortgages because of the added pre-payment flexibility.
What is a variable rate mortgage?
A variable rate mortgage is one in which payments are fixed, but the interest rate will fluctuate with changes in the prime rate. When rates go up, a larger portion of the payment goes toward interest. When rates go down, more of the payment goes toward principal.
Closing Costs and Other Expenses
What are the costs associated with buying a home?
When buying a home, you can expect to encounter the following costs:
- Mortgage down payment
- Closing costs
- Other expenses
Mortgage down payment
First and foremost, you should consider how much money you have for a down payment—the portion of the purchase price that you furnish yourself.
To qualify for a conventional mortgage you will need a down payment of 20% or more. However, you can qualify for a low down payment insured mortgage with a down payment as low as 5%.
You will also need money for closing costs, which are costs that are payable when you finalize your home purchase. Below are some of the closing costs you may need to pay:
- Default (or High Ratio) Mortgage Insurance Premium and PST (where applicable). This coverage is required if your down payment is less than 20% of the purchase price. This premium, minus the Provincial Sales Tax (PST), can be added to your mortgage balance. The PST must be paid at closing.
- Appraisal Fee (if applicable). Your lender will have hired an independent appraiser to determine the value of the property and whether it meets its lending criteria. This may or may not be required depending on the type of property you are purchasing.
- Bridge Financing (if applicable). If your home purchase closes before the sale of your current home, you’ll need to finance the cost of the home purchase for a short period of time.
- Estoppel Certificate (for condominium/strata units). This certificate provides documentation of the condominium corporation’s financial well-being and legal state.
- Interest Adjustment Costs. Most lenders expect the first mortgage payment one month after closing the purchase. If you close mid-month, however, some lenders expect the first payment, or at least the interest accrued during that time period, at the beginning of the next month, two weeks before you would normally expect. When arranging your mortgage, ask how interest is collected to the interest adjustment date.
- Legal/Notarial Fees and Disbursements. You will be required to retain a lawyer or notary to act for you in the purchase and mortgaging of the property, and you will be responsible for payment of all related fees and disbursements. Fees for these services can vary significantly, so you may wish to shop around before making your decision.
- Title Insurance. Title insurance is an insurance policy that protects you, the homeowner, against challenges to the ownership of your home or from problems related to the title to your home. Talk to your lawyer or notary to see if a title insurance policy is right for you.
- Land Transfer Tax (Land Registry Tax). Most provinces levy a one-time tax (sometimes called the “Welcome Tax”) based on a percentage of the purchase price of the property.
- Township/Municipality Levies (applicable to new homes within subdivisions). For such items as tree planting, school taxes and other items until they are assumed by the town/municipality.
- Property Tax/Utility Bill Adjustments. The purchase price of a resale home is always payable “subject to the usual adjustments” at closing. This means that any amount that the seller has already prepaid will be adjusted so that you pay the excess amount back to the seller, and vice versa. The most common adjustments occur on property taxes and utility bills that have been paid ahead of time.
- Certificate of Location (Property Survey). Required by the financial institution for mortgage approval, and by your lawyer or notary for transfer of ownership. Ensure that this certificate reflects improvements such as decks, patios or pools. If outdated, your offer to purchase should indicate whether the seller or you will incur the necessary expense to obtain the appropriate certificate.
- Property Insurance. All homes must have adequate insurance coverage against fire, loss, theft and liability. Your mortgage lender will require you to provide your lawyer or notary with proof that your insurance is in place by the closing date.
- Home Inspection. If you want to have the home inspected by a professional building inspector you will need to pay an inspection fee. The inspection may bring to light areas where repairs or maintenance are required.
- Moving Costs. Remember to factor in the costs of moving from your current home to your new place.
- Miscellaneous Costs. Finally, there will be all kinds of things you’ll have to purchase early on—appliances, garden tools, cleaning materials, etc. Be sure to also factor these expenses into your initial costs.
Will my home purchase be subject to the Harmonized Sales Tax (HST)?
Depending on the province where you are buying a home, HST may apply on the purchase. Ask your lawyer or notary if it applies in your case.
What are the monthly costs of owning a home?
Below is a list of common monthly expenses you can expect as a homeowner. Some of them, like taxes, may not be billed monthly, so you may wish to do the calculations to break them down into monthly costs.
- Mortgage Payment. This will probably be your largest monthly expense. Several factors-the amount you financed, term and rate, amortization and payment schedule—affect the amount of your payment.
- Property Taxes. Depending on your location, you’ll get a property tax bill two, three or four times a year. You can usually pay your tax bill by a variety of methods: a cheque to your municipality, through online banking, or (if your municipality allows) automatic debit from your chequing account.
- Property Insurance. Your lender will require that you have property insurance in place at closing, but it’s also an ongoing expense for as long as you own your home.
- School Taxes. In some municipalities, these taxes are integrated into the property taxes. In others, they are collected separately and are payable in a single lump sum, usually due at the end of the current school year.
- Utilities. You’ll be responsible for all utility bills including heating, gas, electricity, water, telephone and cable.
- Maintenance and Upkeep. You will also have to cover the cost of painting, roof repairs, electrical and plumbing, walks and driveway, lawn care, etc.
Mortgage Payments, Amortization and Term
What will my mortgage payments be?
What you pay each month for your mortgage will depend on the amount you borrow, the interest rate, your mortgage term and your payment schedule.
Use our simple mortgage payment calculator to determine your mortgage payment.
What is the difference between the amortization period and the mortgage term?
The amortization period refers to the number of years it will take to pay off your entire mortgage. you can select an amortization period up to 25 years for government insured mortgages and 30 years if you have a down payment of at least 20%. Your amortization is made up of a number of mortgage terms.
Your mortgage term is the length of time you have agreed to a certain interest rate type (for example, fixed or variable) and a specified payment schedule. When the term expires, the balance of the principal is either repaid in full or the mortgage is renegotiated at then-current market rates and conditions.
How will the amortization I choose affect my payments and the total interest costs I pay?
The longer your amortization period, the lower your monthly payment will be. However, longer amortizations increase the amount of interest you pay. Total interest costs are significantly increased if your amortization exceeds 25 years. An mortgage specialist can help you decide what’s best for you.
Is a longer or shorter mortgage term better for me?
Mortgage terms vary widely—from six months right up to 25 years. As a rule, the shorter the term, the lower the interest rate, and the longer the term, the higher the rate.
- A longer-term mortgage is worth considering if you don’t want to keep an eye on mortgage rates. Our 4–, 5– and 7–year mortgages let you take advantage of today’s rates, while enjoying long-term security knowing the rate you sign up for is a sure thing.
- While 4– or 5–year mortgages are what home buyers typically choose, you may want to consider a short-term mortgage if you may be selling your home in the near future, if you believe interest rates may decrease in the future, or if you want flexibility in your mortgage and are not prepared to make a long-term commitment right now.
Before selecting your mortgage term, we suggest you answer the following questions:
- Do you plan to sell your house in the short-term without buying another? If so, a short mortgage term may be the best option.
- Do you believe that interest rates have bottomed out and are not likely to drop more? If that’s the case, a long mortgage term may be the right choice for you. Similarly, if you think rates are currently high, you may want to opt for a short to medium length mortgage term hoping that rates drop by the time your term expires.
- Are you looking for security as a first-time home buyer? Then you may prefer a longer mortgage term, so that you can budget for and manage your monthly expenses.
- Are you willing to follow interest rates closely and risk there being increased mortgage payments following a renewal? If that’s the case, a short mortgage term may best suit your needs.
How can I pay off my mortgage sooner?
Our mortgages come with features that can help you reduce the number of years it takes to pay down your loan. If you use all of our mortgage features to their fullest, you could pay down as much as 20% or more of your original mortgage balance each year.
These five features are designed to help you build your home equity faster and save money over the life of your mortgage:
- Increasing Your Monthly Payments
- Making Double–Up® Payments
- Accelerating Your Payment Schedule
- Selecting a Shorter Amortization
- Making Principal Prepayments
Why is there a difference in Amortization maximums?
In June 2012, the Department of Finance announced changes to the rules for government insured (default insured) mortgages, reducing the maximum amortization period for new government insured (default insured) mortgages.
The maximum amortization for all new default insured mortgages is 25 years, as compared to conventional mortgages, which have a maximum of 30 years. The shorter amortization helps reduce total borrowing costs for those consumers who have to finance more of their home purchase. This helps them to build up equity more quickly by paying off their mortgage sooner.
Managing Your Mortgage
Am I able to renew my mortgage early?
Yes! You can take advantage of our 120-day early renewal option, which allows you to renew early without any penalties (some restrictions apply). This could save you in interest costs if rates rise before your regular renewal date.
How can decreasing my amortization period reduce my interest costs?
If you choose a shorter amortization period, you can save a lot of money and live mortgage-free sooner.
Take a look at how much you would save on your total interest costs on an $80,000 mortgage amortized over 15 years versus the same mortgage amortized over 25 years.
Mortgage $80,000: 25-Year vs. 15-Year amortization
|Interest rate||Monthly payment||Total repaid12||Total interest cost12|
You can also accelerate your payment frequency, increase the amount of your mortgage payments, make principal prepayments or make Double–Up payments to further reduce your amortization period.
How often can I refinance my mortgage?
There is no limit on how many times you can refinance. However, you must qualify each time you apply. For more information, contact a credit specialist.
Remember, you can also use the mortgage add-on option to borrow up to 80% of the appraised value of your home, minus the amount of your outstanding mortgage.
Can consolidating my debt save me money?
You could save a substantial amount of money by consolidating your outstanding high interest loan and credit card balances using our mortgage add-on option. Take a look:
|Credit Type||Balance||Annual Interest||Annual Interest with Add-On18||Saving|
Plus, you’ll also enjoy the added convenience of having all your debt in one place.
Should I renegotiate my fixed rate closed mortgage?
Before you renegotiate your current fixed rate mortgage to take advantage of lower interest rates, there are several things to keep in mind—the most important one being how much will it cost you to break your fixed rate mortgage.
In order to lend you money at a fixed rate for a set period of time, borrowed the funds needed in the market and entered into a fixed term contract. When you break your mortgage term, is charged a breakage cost as that contract will not be fulfilled. Mortgage pre-payment charges are collected from you to partially offset the costs that is charged.
The best way to know whether you can still save money in the long run after paying the mortgage pre-payment charge is to visit your branch and talk with us.
Our Mortgage Prepayment Charge Calculator can also help you determine how much it could cost to break your mortgage and what interest rate you would need to get in order to “break even.”
Can the person buying my home take over my mortgage?
You can use our assumable mortgage option to let a home buyer assume your mortgage if he or she qualifies. If your current mortgage is a low-interest, longer-term mortgage, offering a potential purchaser the opportunity to assume your mortgage may be a good tactic in a buyer’s market, especially when mortgage rates are rising.
What is a High Ratio Mortgage?
A High-Ratio mortgage is a mortgage which is greater than 75% of the purchase price or appraisal, whichever is less. High-Ratio mortgages require Mortgage Loan Insurance which is provided by either Canada Mortgage and Housing Corporation (CMHC) or Genworth, a private Insurer, and protects the lender against loss. Mortgage Loan Insurance premiums range from .50% to 3.75% of the mortgage amount and are calculated based on the overall loan to value.
For instance, borrowers with a 5% down payment, a loan to value of 95%, would pay a premium of 3.75% while those with a 20% down payment, a loan to value of 80%, would pay an insurance premium of 1.25%. Mortgage Loan Insurance should not be confused with Mortgage Life Insurance.
What is the difference between floating rate and fixed rate mortgages?
Variable or floating rate mortgages provide that the interest rate will change on a periodic basis during the term of the loan according to a pre-determined formula. This formula is typically based on the prime-lending rate set by the Bank of Canada.
Fixed rate mortgages provide that the interest rate will not change throughout the term of the mortgage, but is set at a fixed rate at the beginning of the term.
Article: Fixed or Variable rate mortgage
Can I get a mortgage to renovate my property or pay off credit cards?
Yes! Mortgages can be obtained for a variety of purposes including home purchases, home renovations, or refinancing to pay off other high interest rate debt.
What are typical pre-payment privileges available with my mortgage?
Most lenders today offer pre-payment privileges of 15% of the original mortgage balance. There are a few exceptions that offer only 10% and others that offer 20% and even 25%. You can increase the payments by up to double the regular payment but it is not necessary to double up. Pre-payment privileges can typically be taken advantage of in the form of annual lump sum payments, too.
What are the early payout penalties that apply to my mortgage?
Either a three-month interest penalty or interest differential penalty will apply if you close out your mortgage prior to the maturity date of the term. The greater of the two applies. Interest differential is charged when interest rates have decreased relative to your rate, whereas three-month interest charges are typically charged when interest rates have increased relative to your rate.
Can I qualify for a mortgage if I am unable to confirm my income?
There are a number of products available for applicants who, for whatever reason, have a solid down payment but are unable to provide standard income verification. Another normal requirement is that the applicant have good credit. The amount of the mortgage advance will typically be 65% of the total property value but mortgages of up to 75% of the total can also be arranged.
What if I have a poor credit history?
While you may not be given immediate mortgage approval, has access to many lenders and products which will probably work. The terms and interest rates will depend on the severity of your credit situation. Credit repair tips.
What documentation is required to confirm my down payment?
For funds derived from a bank account, lenders require a bank statement confirming the down payment. For funds derived from RRSP, GIC, or stock portfolios, the most recent statement is required. For funds derived from the sale of property, a fully executed binding sale agreement is required.
Can I use gift funds as a down payment?
Most lenders will accept down payment funds that are a gift from family as an acceptable down payment. A gift letter signed by the donor is usually required to confirm that the funds are a true gift and not a loan. Where the mortgage requires Mortgage Loan Insurance, the gift money is required to be in the purchaser’s possession before the completion of the mortgage.
How does bankruptcy affect my ability to qualify for a mortgage?
Depending on the circumstances surrounding your bankruptcy, generally some lenders would consider providing mortgage financing. If you have been previously discharged from bankruptcy, the best way to determine whether or not you qualify at this time is to fill out an application and have one of the team members discuss your situation. many lenders to approach based on your circumstances.
Article: Credit Repair 101
How will child support and alimony affect my mortgage qualification?
Where Child Support and Alimony are paid by you to another person, generally the amount paid out is deducted from your total income before determining the size of mortgage you will qualify for.
Where Child Support and Alimony are received by you from another person, generally the amount paid may be added to your total income before determining the size of mortgage you will qualify for, provided proof of regular receipt is available for a period of time determined by the lender.
Should I wait for my mortgage to mature before obtaining an approval?
No, have begin shopping around for an interest rate at least 90 days before your mortgage matures. Lenders will often guarantee an interest rate to you as much as 120 days before your mortgage matures. Most lenders will cover or offset a majority of the costs of transferring your mortgage. This means a rate promised well in advance of your maturity date, thus eliminating any worries of higher rates. And if rates drop before the actual maturity rate, the new lender will usually adjust your interest rate lower as well.
Most lenders send out their mortgage renewal notices offering existing clients their posted interest rates. The rate you are being offered is usually not the best one.
Article: Switch mortgage
I'm retired with a pension income. Can I get a mortgage?
Absolutely! Financial institutions are not permitted to discriminate based on age. As such, you are entitled to the same mortgage terms and qualifications guidelines as non-retired persons.
Further, pension income qualifies the same as any other income.
As a non-resident, can I qualify for a mortgage?
Yes, as a non-resident you are able to qualify for a mortgage. The maximum Loan to Value Ratio is typically limited to 65%, but can go as high as 75% in special cases.
A credit report from the country of origin, proof of income and down payment is also required.
Article: Mortgages for non-residents
Difference between mortgage broker vs my bank?
When you work with your bank, you get one choice- the one they offer you. But there are plenty of other lenders out there that may be able to offer you a product or rate better suited to your unique needs. Every bank says they have the best product or rate, but it’s just not possible for everyone to have the best.
Resourceful Capital Financial Corporation is an independently owned mortgage brokerage that works for you. Because of our network of lenders, we’re able to present you with a range of choices, allowing you to select the best option. Lenders compete for your business, so you get the best deals. Best of all, you’ll have an experienced mortgage broker to help you make sense of your choices and understand the variety of products and how each one could benefit you.
What if I'm unable to confirm my income, could I still qualify?
In most cases you will not. However, there are some exceptions. For instance, if you are self-employed or have been a commissioned employee for at least 2 years, you can generally qualify for a mortgage. You’ll have to provide certain documentation, including articles of incorporation, a business license, and the most recent two years Notices of Assessment from CRA.
You may also be able to qualify based on equity if you have a large enough down payment (usually between 25%-35%) and very good credit.
Why is an appraisal necessary?
Every conventional mortgage that includes a minimum 20% down payment requires an appraisal because the mortgage is uninsured. The lender wants to see that your purchase price is in line with the property’s fair market value. Lenders want to see that you are purchasing a quality property and that they will be able to recuperate the full amount if you default on the mortgage loan.
What's the difference between a Cosigner and a Guarantor?
A guarantor is someone who guarantees that payments will be made on a mortgage. They can apply to be removed from the title at a later point if the owners become able to qualify on their own.
A Cosigner is registered on the title on the property, making them a co-owner of the property.
What is the difference between a Mortgage Broker or Agent and a Resourceful Capital Financial Corporation Mortgage Broker or Agent?
Typical to any profession, there are firms and institutions that hold themselves and their people to a higher standard. Resourceful Capital Financial Corporation is a specialized firm where we provide boutique mortgage services for all of our clients. We have helped thousands of Canadians in getting mortgages; effectively saving Canadians millions of dollars in interest, penalties and other fees.
All Resourceful Capital Financial Corporation Mortgage Brokers or Agents have multiple years of experience to draw from; many of our Mortgage Brokers previously applied their trade at banks and other lending institutions. Our efforts and our people are what distinguish Resourceful Capital Financial Corporation from other brokerages, lenders or your local bank branch. Dont take our word, see what our past clients are saying.