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Tuesday, September 7, 2010, 11:55 pm

TERM      OUR RATES   POSTED RATES

 

***5 year FIXED - 3.65%* - Must close by Oct. 31st, 2010

 

6 Month        3.95%         4.75% 
1 Year          2.44%         4.30% 
2 Year          2.89%         4.05% 
3 Year          3.49%         4.50% 
4 Year          3.79%         5.24% 
5 Year          3.79%         5.59% 
7 Year          4.75%         6.50% 
10 Year        5.09%         6.85%

 

All rates good for 120 day holds unless noted

 

Closed Variable   2.10%
Open Variable     3.55%
Prime Rate          2.75%


As of September 7, 2010.

Rates may vary provincially and are subject to change without notice.

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Frequently Asked Questions11
 High ratio mortgage.
Question: What is a high ratio mortgage?
Answer: A mortgage for more than 75% of the property value. Whenever...
 Weekly vs monthly payments.
Question: How much better off am I with weekly vs. monthly payments?
Answer: Despite popular belief, and a lot of vendor marketing, the a...
 Pre-approved mortgage.
Question: What is the advantage of a pre-approved mortgage?
Answer: The purpose of a pre-approval is to confirm in writing the m...
 Second mortgage.
Question: What is a second mortgage?
Answer: A second mortgage is simply an additional mortgage resgister...
 Co-signer vs Guarantor.
Question: What is the difference between Co-signer and a Guarantor?
Answer: A Co-signer is placed on the mortgage and is registered on t...
 Is the lender obligated to renew my mortage?
Question: At the end of the term of my mortgage is the lender obligate...
Answer: No. The lender is not under any obligation to renew your mor...
 Renewal fee.
Question: Does a lender charge a renewal fee?
Answer: Often a lender will attempt to charge a renewal fee or tempt...
 Open mortgage.
Question: What is an open mortgage?
Answer: An open mortgage gives you the most flexibility in making ex...
 Closed mortgage.
Question: What is a closed mortgage?
Answer: Compared to open a closed mortgage offers little to no privi...
 Breaking your mortgage.
Question: Is there ever a good time to break my closed mortgage and pa...
Answer: Yes! A good rule of thumb is whenever making a change will r...
 Penalties for switching you mortgage.
Question: Are there always penalties when I switch my mortgage to anot...
Answer: No. If you switch from one lender to another at your renewal...
Interest Rate Questions3
 Fixed or Variable rates?
Question: What is the difference between a fixed and variable mortgage...
Answer: Fixed rate means that the rate of interest charged for the t...
 Can I negotiate for a better mortgage rate?
Question: It is possible to negotiate a better mortgage rate?
Answer: Often it is possible to get an additional ½ to 1% off...
 Flexibility with variable interest rate mortgages.
Question: What if I have a variable interest rate mortgage and interes...
Answer: Most variable mortgages give you the right to switch to a fi...
Mortgage Term Questions3
 Long-term or Short-term?
Question: What is better - short-term or longer-term mortgage?
Answer: The usual thinking is that you should take a longer-term to ...
 What is a mortgage term?
Question: What is meant by mortgage term?
Answer: Term is the difference between the start and maturity date o...
 What is Amortization?
Question: What is meant by amortization?
Answer: The amortization period is the number of years it takes to r...
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