Mortgage Calculators
Testimonials
YOUR CANADIAN MORTGAGE BROKER
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
There are two very important topics CMHC and Government of Canada has made public:
1. New Parameters Regarding the Application of the Government Guarantee for Mortgage Loan Insurance.
2. Clarification on Qualifying Interest Rate Policy Changes to CMHC Self-Employed Product.
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent.
The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.
The ongoing global economic recovery is being driven largely by strong domestic demand growth in many emerging-market economies and supported in advanced economies by exceptional monetary and fiscal stimulus, as well as extraordinary measures taken to support financial systems.
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
Canadian
Mortgage Rates
| Term | Rate (%) |


