Current Rates
Todays Prime:3.95  
TermBroker Bank
6 Month: 4.50 4.75
1 Year: 3.34 3.79
2 Year: 3.44 3.79
3 Year: 3.54 4.44
4 Year: 3.64 4.59
5 Year: 3.59 5.44
6 Year: N/A N/A
7 Year: 3.99 5.99
10 Year: 4.89 6.59
   
No Down: N/A N/A
Variable 1: 2.95 N/A
Local: 1 - 403 - 313 - 0606
Toll Free: 1 - 877 - 699 - 0719
Updated: Nov 05, 2018

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Home Loan

When buying a new home, you may need a home loan or mortgage. To achieve the best mortgage interest rate, you will need to put a minimum of 5% of the purchase price towards the down payment.

Putting less than 20% of the purchase price as a down payment, classifies the mortgage as a high ratio mortgage. A high ratio mortgage must be insured against default through an insurer like Canada Mortgage Housing Corporation or Genworth Financial. This will be arranged by your mortgage broker.

The insurer fees range from .50% to 2.95% depending on the type of mortgage and how much of a down payment is put towards your purchase. The one time insurance premium is added to the principle amount of your home loan.

Putting down 20% or more of the purchase price for your down payment, classifies your mortgage as a conventional mortgage. No insurer fees should be charged.

Having a mortgage broker work on your behalf saves you the time of having to shop the mortgage market for the best mortgage interest rate.

With over 32 lenders competing for your mortgage, only one credit bureau being pulled and no fees being charged to you for this service, YOU COME OUT THE WINNER!

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