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TimLacroix
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Exclamation **Mortgage Rates and FAQ's quote:

Current Rates to Open Week May 15, 2017

Prime Rate - 2.70%

Special Rate Offers

5 Year Fixed - 2.34% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 1.80% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Extended rate holds for Builds:
5yr fixed – 2.64% High Ratio Only, Up to 180-day Hold
5yr fixed – 3.14% High Ratio Only, 9-month Hold

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.19%
3 Year Fixed - 2.34%
4 Year Fixed - 2.44%
5 Year Fixed - 2.44% * 90-Days
5 Year Fixed - 2.59% * 120-Days

3 Year + ARM - 2.10% * Maturity is May 2020
5 Year ARM/VRM - 2.00%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 2.59% - 2.69%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 2.64%* High Ratio
5 Year Fixed - 6 Month Rate Hold - 2.64%* Conventional
5 Year Fixed - 12 Month Rate Hold - 3.25%* High Ratio
5 Year Fixed - 12 Month Rate Hold - 3.44%* Conventional

Rental Rates
5 Year Fixed - 2.84%

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

Last edited by TimLacroix on 05-17-2017 at 03:56 PM

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TimLacroix
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FAQ's quote:

Some common frequently asked questions:

1. Buying a home with 5% down - The 5% down payment guideline does not apply to just First Time Home Buyers. It is to anyone and everyone buying a Owner Occupied/ Principal Residence.

2. CMHC, Genworth, Canada Guarantee - to avoid these premiums (Default Insurance) being added to your mortgage, 20% down payment (equity) is required.

3. Maternity Income - Full salaried income for someone on maternity can be used for mortgage qualifying. Letter of employment is needed confirming annual salary amount and position is available for your return after maternity is over.

4. Amortization - note that currently 30 and 35 year amortizations are still available on conventional mortgages only. This means that there is minimum 20% down payment or equity in the property.

5. Self Employed - this is a big area but will highlight income and down payment.
Option 1 - Verified Income - Can purchase with 5% down payment. Income used is 2 years NOA average.

Option 2 - Stated Income - Can purchase with 10% down payment. Income is declared based on a reasonability test for the type of job, industry, etc.

Self Employed--- it is never too early to start talking and planning with a mortgage professional. The sooner the better so that you understand all options and details.

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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Rates to Open Week Feb 3, 2014 quote:

Current Rates to Open Week Feb 3, 2014

3 Year Fixed - 2.89%

Starting at:
5 Year Fixed - 3.09%*
5 Year Fixed - 3.19%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 30 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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Current Rates to Open Week Feb 10, 2014 quote:

Current Rates to Open Week Feb 10, 2014

3 Year Fixed - 2.89%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.15%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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nickyh
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quote:

I'm just curious, what are 7 and 10 fixed rates?

I need to renew next Jan so i'm wondering when i should seriously start looking for a new rate.

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TimLacroix
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quote:

Originally posted by nickyh
I'm just curious, what are 7 and 10 fixed rates?

I need to renew next Jan so i'm wondering when i should seriously start looking for a new rate.



Typically we start the renewal process 7 months out from maturity date. We start the process this early to review your needs and run through scenarios and options.

We have the ability with limited lender(s) to hold rates 180 days prior to maturity at a slightly higher rate. However, this gives you some protection and worse case option -- if rates were to rise.

Below are 2 rates (current) with different rate holds:

120 day Rate Hold
7 Year @ 3.99%
10 Year @ 4.39

180 day Rate Hold
7 Year @ 4.44%
10 Year @ 4.74

July would be a good time to start considering renewal options. We would be happy to discuss the 7 & 10 rates with you at that time but also review other options that might save you extra $$$$.

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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Darkane
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quote:

Tim curious about an open variable. Any info there?

__________________
"The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

-H.P. Lovecraft

Kim Kardashian Sex tape:

Originally posted by hadookin
nice box... to bad that nigs face is in it

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TimLacroix
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quote:

Originally posted by Darkane
Tim curious about an open variable. Any info there?



There are 2 OPEN variable products worth noting, the others are much higher rate wise.

5 Year OPEN Mortgage @ Prime + 0.80%

HELOC @ Prime + 0.50%
NOTE: Prime = 3.00%

There is special HELOC pricing @ Prime, available for Engineers (P.ENG), Medical Professionals...

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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quote:

Thanks Tim. It's amazing how much the open variable has changed In 5 years. I had a prime -.5 from scotia as an open. Can't get that anymore lol

__________________
"The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

-H.P. Lovecraft

Kim Kardashian Sex tape:

Originally posted by hadookin
nice box... to bad that nigs face is in it

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nickyh
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quote:

Originally posted by TimLacroix


July would be a good time to start considering renewal options. We would be happy to discuss the 7 & 10 rates with you at that time but also review other options that might save you extra $$$$.



July lines up perfectly with the timeline i had in mind.
I like the 5 year rate option, my husband was looking at a longer time frame so that was more for him than me, thanks for posting them though.

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quote:

Originally posted by Darkane
Thanks Tim. It's amazing how much the open variable has changed In 5 years. I had a prime -.5 from scotia as an open. Can't get that anymore lol



Yeah… the Variable OPENs have changed quite a bit. Not as attractive anymore for them. The CLOSED variables have changed as well but are starting to come back… especially with the spread between Variable and Fixed 5 years.

__________________
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Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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quote:

Originally posted by nickyh


July lines up perfectly with the timeline i had in mind.
I like the 5 year rate option, my husband was looking at a longer time frame so that was more for him than me, thanks for posting them though.



Your welcome… the 5 year rates for 120 and 180 days are not bad but as I mentioned… there are some strategies that can help you save $$$ regardless of term or rate you take.

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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First Time Home Buyer "Again" ?? quote:

Did you know, you can be a First Time Home Buyer again?

Yes that is correct, you are considered a First Time Home Buyer again if you have not owned a home in the last 5 years.

The benefit for some is the ability to withdraw from their RRSP (up to $25,000) for a down payment.

Keep in mind that if you have already withdrawn from RRSP's before, the amount must already be paid back before withdrawing again.

IMPORTANT: If you are living with a boyfriend or girlfriend in a home that they own… and then you both decide to buy together… you are NOT considered a First Time Home Buyer if you buy together.

If you have questions… please ask away!

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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Current Rates to Open Week Feb 17, 2014 quote:

Current Rates to Open Week Feb 17, 2014

3 Year Fixed - 2.89%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.15%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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quote:

Good to see the 5 year rate is down a bit

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Call me today to discuss your next Build!!

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quote:

Any update? Looks like somewhere in ontario is now offering 2.99 5yr fixed. Looks like things are gradually creepy downwards

http://www.cbc.ca/m/news/#!/content/1.2546527

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quote:

Originally posted by pheoxs
Any update? Looks like somewhere in ontario is now offering 2.99 5yr fixed. Looks like things are gradually creepy downwards

http://www.cbc.ca/m/news/#!/content/1.2546527



Hi Phoexs...

Not in Alberta... no 2.99% yet. The lender is a credit union in Ontario and currently is not offering these rates through brokers (yet)... just through the credit union directly.

There is pressure for rates to stay where they are... not to drop much lower than where they are now. Cheers.

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Tim
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Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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Current Rates to Open Week Feb 24, 2014 quote:

Current Rates to Open Week Feb 24, 2014

3 Year Fixed - 2.89%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.15%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

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Current Rates to Open Week Mar 3, 2014 quote:

Current Rates to Open Week Mar 3, 2014

3 Year Fixed - 2.79%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.09%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

__________________
Thanks,
Tim
Managing Director || Broker
Canada Mortgage Direct Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or Click here to email me

Click here to View current Mortgage Rates

Last edited by TimLacroix on 03-05-2014 at 12:42 AM

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quote:

Purely for selfish reasons but if you could just update the current rates and date in the first post it saves from scrolling

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