CURRENT RATES

5 Year Mortgage Rates
Term TypeRatePromo & Info
5 YearFixed (standard)2.49%
5 YearFixed (promo)2.29%-*call for restrictions
-High Ratio Only
-Meet property guidelines
5 YearFixed (promo)2.49% & -Condo Doc Review, Reimbursement $500 *call
5 YearVariable (promo)2.10%
* Subject to change without notice *OAC *Some Underwriting Restrictions Apply
Our Mortgage Rates
TermTypeRate
2 YearFixed2.19%
3 YearFixed2.29%
4 YearFixed2.39%**High Ratio Only
5 YearFixed2.29%**restricted, call for details
6 YearFixed2.99%
7 YearFixed2.99%
10 YearFixed3.54%

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MORTGAGE CHECK UP

What is a Mortgage Check-Up?

Simply speaking a mortgage check-up is just taking the time to review your current mortgage to make sure your mortgage interest rate is competitive, but also that your current mortgage is compatible with your short term and long term goals. If upon evaluating, and you find out that your current mortgage is not consistent with your mortgage needs of today, then it may be beneficial to review what options are available to you, and what kind of changes might be beneficial.

Example: You may determine that the current market interest rates are much less than the current rate you are paying, and you also discover there is a promotion where a new lenders is willing to cover the fees to transfer your mortgage over to them. In this case a transfer to a new lender may be beneficial and save you thousands of dollars.

What Needs to be Reviewed? (initially)

  • Mortgage Statement – Reviewing your mortgage statement allows your mortgage broker to determine your interest rate, amortization, maturity date, pre-payment privileges among other things.
  • Tax Assessment – Though it is not a direct reflection of your homes value, this is allows at least an estimate of your loan to value
  • Current Employment – This is important to determine the likelihood that you can debt service your mortgage according to today’s guidelines, as well as ensuring you meet the minimum employment time for various lenders.
  • Credit Report – Should the review of the first three items suggest that making a change to your mortgage might be beneficial, then reviewing your credit history and current liabilities would be the net step to determine eligibility for mortgage products.

After undertaking a quick review of the above mentioned items you would now be in a situation where you would be considering one off the following: Refinance, Equity Take-Out, or a Switch or Transfer mortgage, depending on what your goals are!

Are you ready for a mortgage check up

Email:

info@5yearmortgagerate.com

Phone: 403-668-4260

Fax: 403-450-8228

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