The New Home Owner’s Mortgage Kit! |
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It’s one of the most flexible mortgage options in the industry and we offer it at a remarkable rate! Design your mortgage to have up to 6 different mortgage products in one registered mortgage. Now some will say, that’s not new! But let me tell you the rate alone is worth writing about! You can choose a fixed or variable rate mortgage and add a Line of Credit that can have up to 5 components all registered as ONE mortgage. And once you pay off the mortgage portion you can request that your Line of Credit be increased! No need to Refinance! If you are an Investor, it’s the mortgage you’ll demand! You can divide the Line of Credit and use your equity to buy up to 5 investment properties that all have separate statements. This eliminates accounting headaches and makes sure you get your tax deductions when you borrow to invest! You can re-advance money by paying down any segment of your Line of Credit and then borrow again without mortgage applications and legal fees. Just write the cheque! If you can prove income you can borrow up to 80% of the value of a property for a total maximum mortgage of $750,000 If you can’t prove income ( you are self employed and have maximum write-offs) you can still borrow up to 65% of the value of a property up to a maximum mortgage amount of $350,000 As an investor you can even keep one of the segments of the Line of Credit for your personal use. Buy a car, take a vacation, you will have a separate statement for it too! There’s more! The minimum Beacon Score is 650 so you don’t have to have the highest credit rating to be approved and the lender only uses the 3 yr posted rate, not the 5 yr as most do for variable rate mortgages! What are you waiting for? Line of Credit rates are Prime +.25%. Compare that to Banks offering Prime +1%. Contact us today! Elfie Hayes as seen on the CTV National News, Rogers TV, published in RENO & Décor Magazine and profiled in Canadian Mortgage Professional Magazine.
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