Looking for the best mortgage rates? Look no further! Dan Faubert is a trusted Ottawa Mortgage Broker who can offer mortgage rates anywhere in Ontario!
Best Mortgage Rates as of Oct 29th, 2019
|Term||Our Best Rates
|6 Months||3.30 % 120 day
|1 Year Closed||3.19 % 120 day (insured)|
|2 Year Closed||2.89 % 120 day (insured)
|3 Year Closed||2.99 % 120 day (insured)|
|4 Year Closed||3.04 % 120 day (insured)|
|5 Year Closed||2.84 % 120 day (insured)* see specials|
|7 Year Closed||2.99 % 120 day (insured)|
|10 Year Closed||3.04 % 120 day (insured)|
|Closed Variable||*2.85%% (Prime -1.10 Insured 120 day rate hold)
Note, when qualifying for a mortgage, due to new government regulations, if you have less than 20% down payment, you must now “qualify” using a government benchmark rate of 5.19% 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 2.84% , insured purchase only, must have complete docs(down payment, income and offer to purchase, property listing), closing within 120 days.
- 5yr VARIABLE, 2.85%(Prime -1.10) for an insured purchase only, closing within 120 days.
- Pre-approvals- 120 day rate guarantee- 5 yr 2.94%(insured)
- Pre-approvals- 120 day rate guarantee- 5 yr fixed 3.09(more than 20% down payment)
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.