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Posts Tagged ‘Canada mortgage rates’

A mortgage broker is often the best place to find the lowest Mortgage Rates in Canada.  They can help you explore what is being offered by the major banks, trust companies and alternative mortgage lenders to ensure you get best rates with the most flexibility no matter where you live in Canada.  They will match your immediate and long-term needs with a product that is right for you.

A mortgage broker can help you to save thousands of dollars whether you have an A+ credit rating or have gone through a bankruptcy as they have a superior understanding of the financial industry and sub-prime lending markets.  An experienced mortgage broker can arrange basic financing which includes home purchases, secured lines of credit, debt consolidations and mortgage renewals all the way up to the more complex financing which entails commercial financing, construction mortgages and large development financing.

Your mortgage broker is the person who will secure your mortgage loan for you for the best possible Mortgage Rate in Canada.  At ConsolidateDebtNow.ca, we will assist you with pre-qualifying for your loan and finding and securing it whether it is for a first mortgage for a business or home, or for eliminating bad debt.  Your mortgage broker does not lend you the money directly but will approach lending institutions for you and negotiate on your behalf.

We, at the Community Mortgage Services Corporation, offer you a no obligation consultation so all you have to do is contact us.  Then once you have your mortgage broker, he/she will also be able to assist you in putting together the proper and, sometimes extensive, documentation which may include credit reports, employment verification, asset disclosure and property appraisals.

Community Mortgage Services Corporation has professionals who utilize many resources on your behalf to be sure that you receive the best Mortgage Rates in Canada and following are financing solutions and assistance available to you:

-       Self Employed Individuals

-       Non-Income Verification

-       Clients with bruised credit or bank refusals

-       New Immigrant Status

-       Past Bankruptcies

-       Mortgage Payments in arrears

-       Tax Arrears

-       Foreclosures

-       Power of Sale Properties

-       Financial Distress Situations

-       Judgments & Executions

-       Liens, including Revenue Canada

-       Alleviating Collection Debts/Calls

-       Purchases/1^st Mortgages

-       High Ratio 2^nd Mortgages

-       Construction Financing

-       Bridge Financing

-       Secured Lines of Credit

-       Equity Take-Outs for Debt consolidation & Home improvements

-       Private Mortgages

Following are some of the different types of mortgages and the range of rates that you can find with Mortgage Rates in Canada:

Closed Mortgage:  A mortgage agreement that cannot be prepaid, renegotiated or refinanced before maturity, except according to its terms.

Open Mortgage:  A mortgage which can be prepaid at anytime, without penalty.

Variable Rate Mortgage:  A mortgage for which the rate of interest may change if other market conditions change.  This is sometimes referred to as a floating rate mortgage.

Fixed Rate Mortgage:  A mortgage that offers a fixed interest rate for one, two, three, four, five, six, seven and ten year terms.

Conventional Mortgage:  A mortgage that does not exceed 80% of the purchase price of the home.  If it exceeds this limit it must be insured against default, and are referred to as high-ratio mortgages.

RANGE OF RATES FOR REGULAR MORTGAGE RATES IN CANADA:

Closed Term:

6 months:      2.15% to 6.84%

1 year             2.49% to 4.35%

2 year             2.85% to 3.95%

3 year             2.99% to 4.25%

4 year             3.59% to 5.14%

5 year             3.69% to 5.49%

7 year             4.80% to 6.65%

10 year           5.20% to 6.95%

Open Term:

6 months       3.30% to 7.00%

1 year             4.00% to 7.45%

Our latest rates at Community Mortgage Services Corporation for high-ratio mortgages are:

Product                                                                      Rate                            Last Week

6 month convertible                                            4.60%                         4.60%

1 Year Fixed                                                             2.65%                         2.65%

2 Year Fixed                                                             2.95%                         2.95%

3 Year Fixed                                                             3.50%                         3.50%

4 Year Fixed                                                             3.99%                         4.09%

5 Year Fixed                                                             3.89%                         3.99%

7 Year Fixed                                                             5.25%                         5.30%

10 Year Fixed                                                           5.35%                         5.40%

Adjustable Rate                                                       2.05%                         2.25%

Our lowest rates change often as we receive short-term rate promotions daily and many of these rates can be guaranteed for up to 120 days.

To learn more about Mortgage Rates in Canada visit our site at www.consolidatedebtnow.ca or call to book a no-obligation appointment at:   1-866-668-6570.