Comedy: Ask Celebrity Vivica A. Fox How to Buy a Home in Markham Boxgrove - Jas Jagpal

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos Real Estate: http://www.JasJagpal.com

It's worth the 3 minutes... especially if you are a mortgage broker.:)

Vivica A. Fox Explains How To Buy A Home.

 

For all your real estate buying needs call Jas Jagpal the true professional :)

647-272-6629 or email: jasjagpal@gmail.com

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough  Town Centre Condos
Toronto Real Estate – http://www.jasjagpal.com

Posted on: www.1stoprealestate.ca, www.linktomorningside.com, www.markhamboxgrove.com

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Markham Boxgrove: Impact of the New Mortgage Rules

Just thought I would provide a few bits of info you may find useful when talking to your clients:

 

  • As of Monday April 19th, the banks will use the 5 year posted rate to qualify clients for a mortgage
BEFORE April 19th a $250K mortgage with 5% down needed about $53,000/year of income
AFTER April 19th the same client will need about $63,000/year
  • 5% down for a purchase through CMHC is still available (strong credit score needed to qualify)
  • Fixed rates have been on the climb, 2-3 increases in the past 2 weeks!
  • Prime still holding steady at 2.25% with forecasted 0.25% or 0.50% increases coming in June/July
  • Variable mortgages at Prime “minus” still a much better option than 5 year fixed (for interest costs & principal repayment)
  • My pre-approvals are good for 90 days & my rates can be held for 120 days

 

Let me assist your clients with great service, sound mortgage advice and most importantly, get them approved!

 

Hope this info proves helpful, have an amazing week!

 

Wayne Marks (www.waynemarks.ca)
TD Canada Trust
Mobile Mortgage Specialist
GTA & Surrounding Markets
Tel: 416.294.9704
Fax: 416.298.5805
"For MORE than a great interest rate!"