Choice of Mortgage Products

Fixed-term mortgages

Not every fixed term mortgage is the same; we'll find the best one out there for you. Fixed-term mortgages offer a fixed interest rate for 1,2,3,4,5,7, 10 and from time to time 15 and 25 year terms. Choosing a longer term gives you the security of knowing that your interest rate and payments won't change during the term you select. Some fixed-rate mortgage provide various paydown options and flexible terms; the secret is knowing the fine print of every mortgage product out there and that's where we can offer our expertise.

The open mortgage

You would choose this mortgage if you were planning to pay back the full mortgage within 6 months to 1 year. If you were expecting a windfall of money or were planning to move again, an open mortgage is the way to go because the banks won't penalise you for paying them back.

Variable rate mortgages

Depending on your situation you may choose an ARM (adjustable rate mortgage). This is where the rate changes usually on a monthly basis depending on the then current rates. You may think this is risky but in the past number of years it's one of the best ways to go. Some ARMs keep the payment the same during the term, that's the better way to go and we can offer this product to you.

Cash back mortgages

Put thousands in your own pocket with this mortgage. Many lenders have different promotions around the idea of paying you up to 5%  of the mortgage amount to do business with them. We can search the market and let you know which product to choose because some will put more money in your account instead of the banks! It could come in handy for refinances.

Equity mortgages

A mortgage based on the amount of equity (market value minus mortgage amount) in your home. Usually up to 75% of the value of your property and most suited for people that don't qualify for a traditional bank mortgage for credit or income verification reasons.

2nd mortgages

A great product to consider if one wants to avoid the high cost of a CMHC high ratio mortgages providing another option to the homebuyer. Usually a much higher rate than 1st mortgages because of the higher risk and less equity.

50 / 50 Mortgage

If you are not sure to take a variable rate mortgage or a fixed rate mortgage the 50/50 might be the right product for you.

This product eliminates the biggest dilemma facing mortgage borrowers in today’s economy. 50% of your mortgage will be based on a variable rate product and 50% will be based on a 5 year closed term—so you limiting your risk and getting best of both worlds.

The two portions operate independently of each other, so you can choose to make prepayments on the fixed portion which has the higher interest rate or they can choose to pay down the variable rate portion aggressively which in turn further minimizes future interest rate risk!

Secured lines of credit - Greater than $75,000

If you need instant cash for home renovations, to buy a car, to purchase investments, or for any other worthwhile purpose it's a great way to raise the capital. We can provide these quickly and at the best rates in the market. Usually based on 80% of the value of your home. We have lenders that can also provide up to 85% of the value of your home.

Be aware of some mortgage promotions!

There are constantly new mortgage promotions coming and going. Because we are mortgage specialists and deal in the business every day we're up to date on all the new promotions. We can easily determine which ones will actually benefit you and which ones are gimmicks. It's important to have an outside advisor to determine this for you.