Home Loans - JL Mortgage Services

Loans for your new home

At JL Mortgage Services, we understand that owning a home is a major milestone in everyone’s life. That’s why we are committed to helping our clients achieve their dream of home ownership.

We offer both variable rate loans and fixed rate loans, giving our customers the option to choose a solution best suits their needs. Variable rate loans come with lower initial interest rates, but the monthly payments can be unpredictable due to fluctuations in interest rates. On the other hand, fixed rate loans provide certainty around monthly payments for a set period of time, usually 1 to 5 years. At the end of the fixed rate term, borrowers can either re-fix their interest rate or roll it onto the current variable rate offered.

When it comes to repayment types, we offer two options: principal and interest or interest-only home loans. With principal and interest repayments, you pay back the money you borrowed from the lender and the interest charged by the lender at the same time. This means your repayments are likely to remain stable throughout the loan term, unless your lender changes your interest rate or ongoing fees. Interest-only home loans, on the other hand, allow you to pay off only the interest portion of the loan for the first one to five years before reverting to principal and interest repayments. While interest-only loans may be attractive to property investors or those looking for cheaper initial repayments, the repayments are likely to increase substantially once you start paying off the principal component.