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Mortgage Types
Fixed Rate Mortgage
Variable Rate Mortgage
Rate-Capped Mortgage
0 Money Down Mortgage
Mortgage Features
All banks have many mortgage options designed to help save
interest costs and meet your personal financial requirements.
- a.. Pay Down Your Mortgage Faster. Reduce the number of
years it takes to pay off your mortgage and enjoy substantial savings by
Increasing Your Monthly Payments, Making Double-Up Payments, Accelerating
Your Payment Schedule, Making Principal Prepayments and more!
- b.. Flexible Payment Options. You'll enjoy the comfort
of knowing you're protected with Interest Rate Protection, Skip-A-Payment,
and Mortgage Add-On feature.
Get Pre-Approved
Lock your rate, and know exactly how much home you can
afford. A simple phone call to your lender should do the trick.
Deposit
Due upon the acceptance of your purchase offer, a deposit
is essentially a gesture of good faith between the buyer and the seller. A
minimum deposit is usually $1,000.
Finalizing Your Mortgage
Here's a list of the documentation you will need to bring with
you when you meet with your Mortgage Specialist --
- a.. Confirmation of income or employment earnings -- a signed
letter from an employer for salaried employees or three years of tax
assessments for commissioned or self-employed individuals
- b.. Current banking information
- c.. Evidence of your down payment amount
- d.. A list of assets, including property and vehicles
- e.. List of liabilities, such as credit card balances, car
loans, the total amount you owe and your monthly payments
- f.. Survey of property (usually available from your real
estate representative)
- g.. Address and contact information for your lawyer or notary
- h.. A copy of the agreement of purchase and sale (when you
sign your offer, you acknowledge receipt of a copy of your offer)
- i.. A copy of the MLS listing, which contains property details
and photo, if applicable (available from your real estate representative)
- j.. Contract and building plans, if you are having a home
built
Recent News
TD Bank and Canada Trust increase residential mortgage rates
Bank of Canada lowers Bank Rate by 1/4 per cent
Housing market benefits from low interest rates
Historically, consumers would have been better off with prime rate
Fed Lowers Key Rates
Royal Bank decreases residential mortgage rates
Earthquake Reinforces Need to Seismically Upgrade Residential Housing
JOINT CMHC-CIMBL RESEARCH SHOWS INCREASE IN INTERNET USAGE AMONG CANADIANS LOOKING FOR A MORTGAGE
Housing Starts Down In August
New home prices going up in most regions, survey says
HOUSING STARTS DOWN IN JUNE
OVER HALF OF CANADIAN HOME OWNERS ARE MORTGAGE FREE
BC Leaky Condo Owners Get Money
Mortgage insurance need not be bank's
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Current Mortgage Rates
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