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It's simple. I
can offer you the best mortgage
products available and the
lowest mortgage rates. This saves you time, effort
and money as I will do the shopping
for you with over 40 different
mortgage lenders in Canada.
There are
no up-front fees and no obligations.
As well, our mortgage services
are free of charge for most
residential arrangements as we
receive our compensation from the
lender.
Contact me today for your
mortgage
refinance
,
home purchase,
second
mortgage or renewal in Toronto.
Toronto
Mortgage Rates
Variable Rate
Mortgage
2.60%
3
Year Fixed Mortgage
3.50%
4 Year
Fixed Mortgage
4.04%
5 Year Fixed Mortgage
4.29%
**New Product** 5 Year 50/50
Mortgage
3.57%
(5
year 50/50 Mortgage is calculated
using combination of variable rate &
5 year fixed rate)
(Variable
rate is convertible to a fixed rate
at any time, no
fees or penalty)**
Did you know that
a recent CMHC survey indicated that
71% of Canadians refinanced
their mortgage before the end of
their 5 year term?
Consider applying
for a 3 or 4 year fixed rate or
variable rate and save money!
Compare
Interest
Savings Based on Today's Rates:
Example:
$250,000 mortgage , 25 year
amortization with monthly payments
4 year fixed rate
savings versus 5 year rate:
$2,404.56
3 year fixed rate
savings versus 5 year rate:
$5,729.30
Variable rate
savings versus 5 year rate:
$20,036.11
Read
My Recent Article -
Mortgage Refinancing
in Toronto
Home owners in Toronto are now
refinancing their mortgages at a
record pace. As of January 2009, the
Bank of Canada has dropped it's
overnight lending rate
substantially, allowing banks and
lenders to offer a prime rate of 3%.
Both fixed and variable rates are at
historical lows and well below the
average interest rates of the last
few years. Many consumers are
willing to pay penalties charged by
their bank or lender to refinance
existing mortgages and take
advantage of lower payments and
reduce interest costs on all of
their debts.
Toronto and GTA areas in the last
5 years have seen a frenzy of buying
activity. Home prices increased
rapidly, allowing more and more
equity to build up. Refinancing is
one of the best options to make use
of existing equity and pay off debts
such as higher interest mortgages,
credit cards and personal loans. By
lowering monthly payments on
unsecured debts such as credit
cards, home owners can use the extra
monthly cash flow to pay down their
mortgages sooner using pre-payment
options offered by most lenders in
Toronto. Another popular strategy is
using low interest rates and a
refinance to fund renovation
projects to increase property
values.
To begin the refinancing process,
contact Darin Bauer to
discuss your existing personal
financial details. I will review with you how much money
can be saved in total interest costs
by refinancing, as well as give you
a plan for paying down your mortgage
sooner. I
have access to over 40 lenders and
can provide you with not only the
lowest rates but also a variety of
products tailored to your needs. In
most cases, I will
be compensated by the lender chosen to fund
your new refinance with, therefore
not charging you any fees.
To qualify for a refinance in
Toronto, your credit score is the
most important factor. Banks and
lenders are looking for FICO scores
in the 600 plus range on average to
qualify for the lowest rates . The
higher your score, the better chance
you will have to be approved at low
rates. Other important qualifying
factors will be your income &
employment history as well as your
loan to value ratio. Currently, you
can refinance up to 95% of your
homes' appraised or market value.
The average
Toronto mortgage refinance can
be closed in approximately 14 to 21
business days. A real estate lawyer
will be required to close the
transaction. The average cost of
legal services in Toronto is around
$800, depending on the number of
disbursements and other related
fees.
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