by debtcancel | Oct 19, 2017 | Mortgages
Effective January, 2018, the qualifying rate for uninsured mortgages, (20%+ down payment), will be the greater of the five-year benchmark rate published by the Bank of Canada, (4.89% today), or the contractual mortgage rate + 2%. In plain English, IF the 5 year...
by debtcancel | Oct 18, 2017 | Mortgages
When shopping for a mortgage, the lowest rate should not be your only concern. Pay attention to the three ‘P’s’: Prepayment privileges By how much can you pay down your mortgage annually without being penalized? Penalties What penalty will you pay to pay your mortgage...
