News, Views and Trends!
Would it surprise you to learn that your doctor uses a mortgage broker? Well, it’s true – doctors use mortgage brokers all the time.
In fact, I personally have an extensive list of medical professionals as clients, including family doctors, specialists, dentists, veterinarians… and the list goes on.
So, why would these high-income earners use a mortgage broker?
There’s a great new flexible interest-only mortgage product that could prove beneficial for a number of borrowers, including first-timers, real estate investors, professionals, seasonal workers and others looking for lower monthly mortgage payments.
Designed to help borrowers increase monthly cash flow by providing maximum flexibility, this product can be used for both purchases and refinances.
I recently tried this product out and was really impressed!
Continue reading “Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!”
The incredible variable rate wars we’re seeing this month are about to come to a close! It would be a shame to miss out on these savings! And, while there is a possibility that they’ll extend into June, I wouldn’t risk it – deep savings like these don’t come around every day! In fact, I’ve never seen advertised variable rates this low!
If your mortgage is coming up for renewal soon – or, even if it’s not – it’s worth a call to your mortgage broker to discuss the possible savings. The math speaks for itself…
Continue reading “Record-Low Variable Rate Wars EXPIRE THURSDAY… Don’t miss out!”
In order to fully understand how to take advantage of record-low variable rates, it’s important to learn some mortgage history.
BMO came out swinging first a week ago with a variable rate of Prime minus 1.00%. Historically, when a BIG SIX BANK comes out with a huge price decrease, it’s only for a very short time – likely 2-3 weeks. But, during that time, they can gain massive volumes and satisfy their market share requirements from the average borrower.
With all the talk of interest rates going up, this is welcome news for borrowers. Last week, I wrote about Variable rates at Prime minus 1.09%. This week, the banks have caught on.
Continue reading “And the Variable Rate price wars begin… Here’s how you can benefit!”
Quoting rates isn’t straightforward anymore. Your final rate is based on your credit score, purchase price or home value (homes over $1 million purchased after Oct 17, 2016 have higher rates), the loan to value (mortgages under 65% LTV and above 80% LTV get best rates), location, job type and income confirmation documents.
That’s right… ALL these factors will determine your interest rate!
Today, there’s a great variable rate available at Prime minus 1.09%. That translates to 2.39%. This is a real rate… it’s not a bait-and-switch ad like so many rate-comparison sites are quoting these days.
Continue reading “Prime minus 1.09%… Yes, this is a record-low Variable Rate!”
