Did you know that there are 2 rates that you need to consider when getting a mortgage: the rate going in and the rate going out.If you break your mortgage with your lender before the end of your term, your rate going out penalty" can be surprisingly high and unexpected. At The Mortgage Centre, we will clearly outline both rates BEFORE you sign a mortgage commitment.#georgianbaymortgages #midlandmortgages #mortgagerates
Nominations have begun for The Mirror Readers' Choice Awards 2019, and The Mortgage Centre in Midland would appreciate your vote!Come back often and nominate as many times as you like until December 28th. The top 3 nominees in each category will move on to the voting stage in late January. Best Mortgage Company / Services: https://zcu.io/76xC Best Mortgage Broker / Advisor (Linda Chaplin, Jenna Lorette): https://zcu.io/dImT#readerschoice2019 #nominations #pleasevote #georgianbaymortgages
The Big Dig is in full swing but, at The Mortgage Centre, it's business as usual!If you're coming to see Jenna and Linda, parking is available in the lot are the corner of Bay and First Streets, as well as the lot at Bay and King Street.Keep up to date with all the Big Dig info here: https://www.bigdig.info/
DID YOU KNOW...Securing an insured mortgage (otherwise known as a high-ratio mortgage) means having less than 20% down, and the mortgage will be backed by the Canada Mortgage Housing Corporation (CMHC), Genworth or Canada Guaranty.All insured mortgages need to qualify using the Bank of Canada's Conventional 5 year fixed posted rate (also referred to as the Benchmark Rate) the current rate is 5.19%. An uninsured mortgage is mandatory to qualify using the higher of two rates; the contract rate + 2% OR the Bank of Canada's 5.19% qualifying rate. Only one level of approval is required, from the actual mortgage lenders. These mortgages can have 30 year amortizations and have a home value of any size.
"Following the plan that was announced after the Federal Budget review in March 2019, the details for the CMHC First Time Home Buyer's Program have been released. The program will take effect on September 2, 2019. For more information or to learn how this program can help you, call me today to discuss."http://bit.ly/2XvNxtW
