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Purchases

When purchasing for a new home the types of mortgages that are available are:

Conventional - 'Low Ratio' - The mortgage loan amount is equal or less than 80% of the lesser of: a) what the appraiser states is the value of the home, or b) what it actually costs to buy. In other words, you have a down payment of 20% or more.


Insured - 'High Ratio' - The mortgage loan amount is greater than 80% but less than 95% of the lesser of: a) what the appraiser states is the value of the home, or b) what it actually costs to buy. In other words, you have less than 20% of a down payment. High ratio mortgages can be insured by Genworth Financial Canada, a private insurer, or Canada Mortgage and Housing Corporation (CMHC), which operate under the National Housing Act (NHA).

Current Rates as of 2019-03-22
Duration Posted Bank Rates Our Rates
1 year 3.04 2.44
2 year 3.24 2.54
3 year 3.44 2.74
4 Year 3.89 2.99
5 Year 4.99 2.94
7 year 5.30 3.79
10 year 6.10 3.74
5 Yr - Variable 3.45 2.41
Qualifying rate 0.00 5.14

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Tel: 604-2-ACCESS (604-222-2377) Fax: 604-5-ACCESS (604-522-2377)
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