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New CMHC Premium Rates

  Standard Premium (OLD) Standard Premium (Effective May 1st, 2014) 15% Down Payment 1.75% 1.80% 10% Down Payment 2.00% 2.40% 5% Down Payment 2.75% 3.15%   Self Employed:   Old Premium Current Premium (Effective May 1st, 2014) 15% Down Payment 3.35%* 6.35% * 10% Down Payment 5.45%* 8.05% *   For any further questions or […]

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Seem Familiar?

  SituationDown Payment 10% of $450,000 Purchase Employment Main applicant: employed full-time for the last 2 years in a Management occupation Co-applicant: student, not working Credit Main applicant: Weak Credit at a score of 577. Consumer’s Proposal discharged 2 years ago, no re-established on the bureau Co-applicant: No credit It’s really not that difficult, we […]

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What’s Better?

Paying $1,200 each month For $40,000 of credit card debts? OR Refinancing Your Mortgatge and paying $168.00 each month on the same $40,000? Hmm.. That is a savings of $12,381 per year in interest! Book your free consultation today! Call 905-306-7000

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Perfect Time to Refinance!

  Refinance Now Lower Rates 3.09% 5 YR Fixed Mortgage: $325,000 ——————— $1,382.56/Month Refinance Later Higher Rates 3.89% 5 YR Fixed Mortgage: $325,000 ——————— $1,732.55/Month That’s $4,199.88 a year that you will waste IN JUST INTEREST.. Call 905-306-7000 to avoid wasting your money and start enjoying your savings!

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Purchase/ Refinance Plus Improvements Program

  Purpose of Funds Purchase and refinance (owner occupied). Maximum equity take-out on refinances – $200,000. First mortgage only. Fully qualified. Maximum LTV Up to 95% LTV for 1-2 unit properties. Up to 90% LTV for 3-4 unit properties. Max 80% LTV for refinance. Mortgage Amount Minimum loan amount $50,000. Maximum loan amount $1,000,000. Minimum […]

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New to Canada Program

Qualified home buyers who have immigrated or relocated to Canada within the last 5 years are eligible under a New to Canada program to purchase a property with as little as a 5% down payment Purchase transactions only, up to 5% down payment. Maximum 2 units where 1 must be owner occupied. Maximum 25 year […]

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Brokers to clients: Beware banks offering skip payments

Many of Canada’s big banks offer clients the opportunity to skip payments on their mortgages. While this can work to their advantage, mortgage brokers are not big fans of strategy. One of the main reasons why consumers are drawn to this method is because it does not require any additional fees. Banks have also stepped […]

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Some Experts Suggest: Mortgage rates will decline further

The waning year has seen a rate roller coaster as historically-low fixed rates shot up before descending once again; and the expert panel assembled by RateSuperMarket.ca expects that slow descent to continue into the end of the year. We have seen a recent lowering of Canadian bond yields as a reaction to the Bank of […]

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MonCana is Now Part of Canadian First

Canadian First Financial Group (CFFG) has now completed its purchase of MonCana Bank of Canada. “We have significantly advanced our growth plan” by aligning with MonCana, says Peter Vukanovich, president and CEO, Canadian First. “We are also delighted to welcome more than 7,000 MonCana Bank customers to Canadian First.” “Canadian First is building a retail […]

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Low interest rates till late 2016?

Justin da Rosa – Canadian Real Estate Wealth The Bank of Nova Scotia has reforecast its outlook on the Bank of Canada and now believes the bank will hold off on hiking its overnight rate until 2016. “The Bank of Canada probably now envisages spare capacity remaining into 2016,” the report stated. “It could well […]

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