Looking for the best mortgage rates? Look no further! Dan Faubert is a trusted Ottawa Mortgage Broker who can offer the BEST mortgage rates in Ottawa and Toronto!
Mortgage Rates updated June 22nd, 2017
|Term||Our Best Rates
|6 Months||3.10 % 120 day|
|1 Year Closed||2.39 % 120 day|
|2 Year Closed||2.24 % 120 day|
|3 Year Closed||2.36 % 90 day
|4 Year Closed||2.44 % 120 day
|5 Year Closed||2.49 % 120 day Purchase or Renewal
|7 Year Closed||2.89 % 120 day
|10 Year Closed||3.29 % 120 day|
|Closed Variable||*2.00%% (Prime -.70) Insured 120 day rate hold
Note, when qualifying for a mortgage, due to new government regulations, you must now “qualify” using a government set rate of 4.64% today. This is regardless of what mortgage term you are taking, and or what the actual contract rate you are getting from the lender.
- 5 yr fixed, 2.34% Insured only, 90 day rate hold. Mortgage can NOT be paid off during term unless a bona fide sale.
- Pre-approvals- 120 day rate guarantee- 5 yr 2.64%(insured deals only) 2.79% uninsured
- 3 yr fixed purchase closing within 90 days, high ratio ONLY 2.25%- lender does NOT offer bridge financing.
Mortgage rates can be held for 4 months, depending on the lender being used. If rates drop, your rate will be lowered up to two days prior to closing. If rates increase, no worries, your rate is guaranteed to be no higher than originally set.
The above rates are available to credit qualified borrowers. Rates subject to change.
Individuals that do not qualify normally may still be financed, but must call for a quote on rate and fees based on their particular circumstance.