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Generally speaking, the rate discount you receive today may not translate over when you decide to renew. As a best practice, however, good mortgage brokers will try dealing primarily with lenders who offer a "best Broker Rate" guarantee at date of renewal. It's important to note, not all banks...

Hello Kevin86, The discount on premium is unrelated to the term and interest rate option you prefer. The only variable rate mortgages worth having are convertible to a fixed rate at any time during the term. The amount of discount on the fixed rate, however, is totally related to the...

Perhaps some of the realtors posting on this board can assist.

Outside of putting a 20% downpayment, there is only one way of reducing the insurance premium on a mortgage. I deal with a lender who offers "A" rates, but is self-insuring its mortgages. The net benefit to the borrower with a 15% downpayment, is a reduction in premium of 1.15% for fully...

100% financing is still available for those individuals without a traditional downpayment . You don't mention what part of town your friend wants to buy in, but it is still possible to get a decent sized one bedroom for under $200k in an "M" postal code.

Yossi's comments are spot on, but I will add that while there are a select few lenders who will actually finance the purchase of a co-op, actually obtaining financing is decidedly more difficult than usual. Using first hand experience from the 30 or so that I have financed over the years, our...

Hi folks, please excuse the gratuitous self-promotion. I am currently providing my clients the following terms and rates: 5 year w/5% cashback (100% financing) - 5.40% 5 year fixed rate (no cashback) - 3.74% Variable rates @ Prime. Most banks offer 100% financing through their...

Citylover, One thing that annoys me most with capped rate programs is the fact the lenders do not always automatically float the rate down, whenever mortgage rates fall. But if you approach the lender and ask them to reset the interest rate to today's lower rates, they should not have a...

Hello Ducati, Most of the Big 5 banks have mobile mortgage specialists, who do have the capacity to provide you with a 9 month rate hold. I deal with a number of these specialists from time to time and would be happy to make a recommendation. Drop me a PM telling me what bank you prefer to...

Hello City Lover. You should make an effort to revisit your mortgage rate situation, as mortgage brokers do not have access to special "capped rate" programs offered by the banks, to buyers of new construction homes/condos. As such, your interest rate hold period is a maximum of 120 days...