Danny Bell
Mortgage Broker - M13001996
Tel: 905-426-4200 | Cell: 289-200-9061 | Fax: 905-426-4201
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...
Here's some examples of when and why appraisals are needed for a mortgage, and what lenders are looking for.WHY?- Confirm purchase price aligns with current fair market value - Assess property value and overall condition of the home, ensuring a...
Canada Mortgage and Housing Corporation (CMHC) mortgage loan insurance is required when you purchase a home with less than 20% down payment. This insurance protects your lender in case you can't make payments. Benefits:- Allows a mortgage with...