Get CASH to break your fixed rate mortgage

If you are wondering about the recent drop in variable mortgages, there might be a great solution for you available.   Now, you can get some cash on closing day to help you cover some of the mortgage penalty you may be facing, if you break your fixed mortgage prematurely.

Here is what you can expect to receive on a cash back, if your mortgage balance is $300,000:

Mortgage Amount	$300,000.00
Mortgage Rate	120 day closing	Cashback on closing day
2.20	0.72%	$2,160.00
2.15	0.60%	$1,800.00
2.10	0.48%	$1,440.00
2.05	0.36%	$1,080.00
2.00	0.24%	$720.00
1.95	0.12%	$360.00
1.90	3.80%	$0.00
Illustration above is based on a $300,000 mortgage balance.
Mortgage rate listed here is effective on June 11, 2010
Note that mortgage rates are subject to change without notice This blog post was submitted by Elizabeth Blair on June 11, 2010.  Elizabeth is a Licensed Mortgage Agent with Mortgage Edge in Richmond Hill, Ontario.  Elizabeth services mortgage clients in Mississauga and all over the Greater Toronto area. You can contact Elizabeth directly by phone at (905) 510-5785 by email at eblair@mortgageedge.ca or you visit her websites at: http://www.missmortgage.ca http://www.burlington-mortgage.ca http://www.oakville-mortgage.com http://www.streetsville-mortgage.ca Elizabeth is licensed with the Financial Services Commission of Ontario and is also a Member of IMBA (the Independent Mortgage Brokers Association of Ontario) http://www.imba.ca Lic # M08005880 / Brokerage Lic # 10680 Head office is located at:  15 Wertheim Court, Suite 210, Richmond Hill, Ontario, Canada.

Fixed Mortgage Rates moving up

The bond is up by more than 22 points in the last few days.  We have already seen some movement at the bank level, and expect to see movement early next week if the bond stays where it is at – see links below.

Are you pressed for time and with fixed rates rising, please call me today to find out about locking in a rate for 120 days.     It only takes 2 minutes (time is guaranteed) to request a Rate Hold*.

* ”Rate Hold”:    this is not a mortgage pre-approval application.   On applicant’s request to proceed, with the rate hold offer, all applicants are required to complete a mortgage application.  The lender reserves the right to either accept or decline, any applicant, based on their review of the applicant(s) submitted mortgage application(s).  This review involves the verification of personal credit report history and verification of income.

See link:  http://www.stockwatch.com/newsit/newsit_newsit.aspx?bid=Z-C:RY-1650239&symbol=RY&news_region=C

See link:  http://www.tmxmoney.com/HttpController?GetPage=BondsAndRates&Language=en

This blog post was written by Elizabeth Blair on October 12, 2009.  Elizabeth Blair is a Licensed Mortgage Agent with Mortgage Edge in Richmond Hill, Ontario.  Elizabeth services mortgage clients in Mississauga and all over the Greater Toronto area.   You can contact Elizabeth directly by phone at (905) 510-5785

by email at eblair@mortgageedge.ca

or you visit her website at:    http://www.missmortgage.ca

Elizabeth is licensed with the Financial Services Commission of Ontario and is also a Member of IMBA (the Independent Mortgage Brokers Association of Ontario) http://www.imba.ca

Lic # M08005880 / Brokerage Lic # 10680

Head office is located at:  15 Wertheim Court, Suite 210, Richmond Hill, Ontario, Canada.

NEW Lower Mortgage Rates!

Here are hot new mortgage rates for you:

1.     Variable Rate Mortgage at Prime Rate – 2.25% **

2.     5 Year Fixed Rate – 3.75% **

If your mortgage loan amount is greater than $370,000, I can get you

3.59% ** on a 5 Year Fixed Rate.

**  Some conditions apply and subject to approval by the Lender.  Mortgage rates are subject to change without notice.

This post was written by Elizabeth Blair, a Licensed Mortgage Agent with Mortgage Edge in Richmond Hill, Ontario.

Elizabeth services mortgage clients in Mississauga and all over the Greater Toronto area.

You can contact Elizabeth directly by phone at (905) 510-5785

by email at eblair@mortgageedge.ca

or you visit her website at: http://www.missmortgage.ca

Elizabeth is licensed with the Financial Services Commission of Ontario and is also a Member of IMBA (the Independent Mortgage Brokers Association of Ontario) http://www.imba.ca Lic # M08005880 Brokerage Lic # 10680 Head office is located at: 15 Wertheim Court, Suite 210, Richmond Hill, Ontario, Canada.