INSURANCE PREMIUM INCREASES MAY 1st – FOR HIGH RATIO MORTGAGES!!!!
Please note that with the premium increase by CMHC and Genworth – lenders are advising us that the turn around time to get deals approved is quite tight right now. If you want to get your deals approved in time please have them to us by Tuesday at the latest.
Thanks and if you have any questions or if we can help your clients please let us know!
CMHC announced it would hike premiums for default insurance by an average of 15 per cent effective May 1. The increase would hit buyers who have a downpayment of less than 20 per cent.
The highest premiums are paid by those who put down just five per cent of the home’s purchase price. At that level, the mortgage insurance premium rises from 2.75 per cent to 3.15 per cent.
CMHC estimates that for the average buyer needing insured financing, the new rates will add about $5 a month.
Dear Client/B2B partner
Being one of the fastest growing institutional & alternative finance lending brokerage in Canada , providing some of the most innovating mortgage products in industry with nationwide coverage.
Contact us to find out about availability in your area when you need as follows as well
>Residential 1st mortgage up to 90% and up to 3M
>Residential 2nd mortgage up to 95% and up to 500k
>Commercial 1st mortgage up to 90% and up to 5M+
>Commercial 2nd mortgage up to 80% and up to 1M+
>Mortgages for self employed or self declared clients
>Construction, renovation, farm, bridge or land loan
>Open Mortgages with no surprise penalties or fees
>Special and Any need
Contact us if you or your client need alternative financing
*Not all products and LTV levels are available in all areas. Subject to credit standards and qualifications.OAC/E&OE
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You can trust me to take the utmost care of your clients. Feel free to contact me day or night at 647-267-6338 directly
Ask us for our honest and confidential opinion on your current mortgage, may be we can help you save some $$$$$…
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Call : 6472676338
CENTUM Metrocapp Wealth Solutions Inc.
Licence #: 12147
204A-716 Gordon Baker Rd.
Toronto, ONM2H 3B4
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*terms & conditions apply, OAC , Rates are subject to deal approval when qualify.
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