Tag Archive for: Toronto Mortgage Broker

Different Mortgage Rates and Programs

Take your pick!

The worst kinds of calls to get as a mortgage broker is when someone calls and asks for your best 5 year fixed rate. My answer typically is that it depends. Although I know what the rock bottom 5 year fixed rate is for that particular day, there is no guarantee that is what they will get.

You see after 30 seconds of being on the phone with someone I don’t know their credit, weather they are buying or refinancing, if the transaction would be high ratio or not and if they are self employed and require a stated income mortgage. All these things are required to determine what rate you will eventually receive.

Judging a mortgage by it’s rate is like shopping for a vehicle based solely on the horsepower. There is so much more to consider. This is … Read more