Our Best Rates:
| Terms | Posted Rates | Our Rates |
| 6 MONTHS | 4.45% | 4.40% |
| 1 YEAR | 3.20% | 2.75% |
| 2 YEARS | 3.55% | 2.99% |
| 3 YEARS | 3.95% | 3.19% |
| 4 YEARS | 4.64% | 3.29% |
| 5 YEARS | 5.14% | 3.29% |
| 7 YEARS | 6.35% | 3.99% |
| 10 YEARS | 6.75% | 3.99% |
| Rates are subject to change without notice. OAC E&OE | ||
| CURRENT PRIME RATE IS | 3.00% |
| PRODUCT | RATE |
| Variable Rate Mortgage: Prime - 0.00 | 3.00% |
Downpayment Options
Buying a home with zero down could be a limited time opportunity
Zero-down payment can help get Canadians into their homes faster, saving
potentially thousands in rent, and giving them a jump start on building
wealth.
A cash-back mortgage that provides the cash upfront is one zero down
option, another is to secure the downpayment through a loan or unsecured line of
credit.
Zero down could be a limited time opportunity. Cash back options will no
longer be available if the proposed OFSI (Office of the Superintendent of
Financial Institutions) rules are implemented. Right now these new rules are
just a proposal and out for comment, although it's quite possible they will be
implemented. As a result, qualified homebuyers should take a look at these
opportunities now while they are still available.
A zero-down mortgage is certainly not for everyone but if you have stable
income, good credit and the ability to comfortably handle your monthly mortgage
payment and ongoing housing expenses, a well-designed zero-down plan can get you
in your home sooner. We can review your situation and help you determine if
zero down is the right financial decision for you.
Talk to us today if you want to explore how you can purchase now without
waiting.
Robert Lumb
MortgageDirect2u
Tel: (416) 275-9284
1 comment:
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