Danny Bell
Mortgage Broker - M13001996
Tel: 905-426-4200 | Cell: 289-200-9061 | Fax: 905-426-4201
A bridge loan is a short-term loan to bridge the gap between the purchase of a new home and the sale of an existing one. It provides financing to cover the down payment and closing costs of a new home before the borrowers current home sells. Bridge...
The process of replacing an existing mortgage with a new one by paying of the existing debt. Danny Bell, AMPMortgage Broker ON Lic #M13001996 | NS Lic #2023-3000662P. 289-200-9061W. www.strictly-business.ca The Mortgage CentreDurhammortgage.com...
What is a High Ratio/Insured mortgage"?5%-19.99% down paymentMax 25 yr amortizationMortgage is default insured (i.e. CMHC)Less than $1M purchase pricePurchase over $500k requires 5% of first $500k and 10% of balance above $500k Example: $600k...
While variable rates remain higher for the time being, the bright side is fixed rates are decreasing! CURRENT BEST INTEREST RATES (O.A.C)FIXED rates: 4.99% - 5.59% (Avg = 5.29%)Approx $598/month per $100k (25 yr amortization) VARIABLE rates: 6.20...
When it comes to securing your mortgage approval, understanding how various income structures are qualified is crucial. Here's a breakdown:1. Full-Time Permanent:Verified by an employment letter and pay stub showing guaranteed salary or hourly...
Hello and Happy New Year! It's time to shake off the Christmas dust and get back into the swing of things to make for a strong 2024! Here's some info to keep you updated: Current best mortgage rates (O.A.C):Fixed rates range from 5...