Refinancing
Canadian Mortgage Insurance Premiums
The Insurance Premium is paid once, at the time of closing, and may be added onto the mortgage or paid separately.
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Increases Made to Debt Coverage Ratios
In following our commitment to providing current product information for our clients, MyMortgage.ca is pleased to announce the following changes to insurer’s guidelines for borrower qualifications (GDS/TDS).
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25 & 30 & 35 & 40 Year Amortization
Mortgage Insurers have launched 30 year Amortization period mortgage.
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80% Home Equity Line of Credit
We offer Home Equity Line of Credits (HELOC) up to 80% LTV, so homeowners can enjoy access to additional funds with more flexibility and convenience. Lines of credits have become an innovative way to finance your home purchase.
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85% Refinance Mortgage
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85% No Proof of Income Refinance Mortgage (Alt-A Program)
At MyMortgage.ca we understand that as a consultant, contract worker, or independent business owner your taxable income may not reflect your true income.
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75% Stated Income Equity Refinance Mortgage (Flex Equity Program)
Clients who have difficulty proving their true income can qualify based on 25% down.
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Second Mortgage
A Second Mortgage is a loan, where the lender secures the repayment by placing a second mortgage lien on your property title, using your home as collateral.
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Canadian Mortgage Insurance Premiums
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Increases Made to Debt Coverage Ratios
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25 & 30 & 35 & 40 Year Amortization
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80% Home Equity Line of Credit
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85% Refinance Mortgage
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85% No Proof of Income Refinance Mortgage (Alt-A Program)
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75% Stated Income Equity Refinance Mortgage (Flex Equity Program)
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Second MortgageA Second Mortgage is a loan, where the lender secures the repayment by placing a second mortgage lien on your property title, using your home as collateral. |
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