YOUR CANADIAN MORTGAGE BROKER

January 27, 2010

EXCITING NEWS from First Line Mortgages

If you have an existing mortgage with CIBC, First Line, PCF, Sutton you are now potentially able to apply for the NEW Brand to Brand Refinance and possible Equity Take Out using self declared income!

The following conditions apply.

INCOME:

- Self declared (is reasonable in light of income used to qualify the existing mortgage)

Eligible Properties:

- Owner occupied residential (up to and including 4 plex and condominium/townhouse units)

Existing Mortgage:

- With CIBC (e.g. CIBC, FirstLine, PCF, Sutton) for a minimum of 1 year
- No late payments or arrears in the past 12 months
- Not eligible for Access or Option Mortgages

Credit:

- Satisfactory credit history (no current R3’s)
- No bankruptcy, no OPD, no consumer proposal, no voluntary repossessions, no foreclosures
- Collection under $1000 may be considered provided a ‘make sense’ explanation is given

BEACON SCORE:

Mortgage Amount Up to $750K Between $750K - $1.0MM
Min Beacon (Primary Applicant) 600 640
Min Beacon (Secondary Applicant) N / A 600
Equity Take Out Up to $500K Up to $500K

Other Conditions:

- Conventional mortgages only (maximum 80% LTV)
- Maximum GDSR 32% and TDSR 40%, based on self-declared income
- Borrowers and Guarantors must remain the same
- Appraisal only required if property does not pass GVS

 


BREAKING NEWS

Page 1 of 11  > >>

September 1, 2010
Not that there are a lot of people buying houses these days, but the answer to the age-old question of whether to go long or short on your mortgage is unclear yet again.
August 25, 2010

CALGARY - It's taking Calgarians longer now to sell their homes on the MLS market.

According to preliminary unofficial data on the website of realtor Mike Fotiou, of First Place Realty, so far this month up until Sunday the average days on the market for a single-family home to sell was 52 while it was 53 days for condominiums.

August 17, 2010
Five of Canada's major banks reduced many of their posted mortgage rates by one-tenth of a percentage point, effective today.
August 11, 2010
When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest.

www.mymortgage.ca

PHONE: 1.866.509.1090
FAX: 1.866.392.3672

Head Office
Unit 207, 4603 Varsity Drive NW

Calgary, AB. T3A 2V7

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