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Mortgage Services
Lifelong Partners in Home Financing
Purchase
Whether you are first-time buyer, or an experienced buyer, Permeant Resident or temporary under work permit, employed or self-employed, purchasing existing homes, new construction, vacation properties or acreage, We have access to more than 100 lenders with very best products and rates to help our clients achieve their goal.
Refinancing/Switching
Do you know about all the incredible options renewing your mortgage ?
- Re-negotiate rate
- Consolidate Debts
- Invest in Renovations
- Adjust your mortgage product
- Increase Cash flow
Home Equity Line of Credit (HELOC)
Access your home equity with a flexible line of credit. Interest only payments, available on purchases and refinances.
Alternative Mortgage (B-lending)
Alternative mortgage lenders are generally more flexible with their requirements than traditional banks. Requirement varies from different lenders.
Example:
- low credit, low income
- credit issues like collection, bankruptcy, proposal payment, late payment, etc.
- Self employment with less than 2 years
- Operating business purchase residential property;
Private Lending solutions
Viable option for borrowers looking for alternative financing solutions outside of bank and B lending.
Short term financing.
- Fast funding for quick closing
- House flip (Buy, Renovate , Sell)
- Bridge
- Debts consolidation
- Purchase with Improvement, Refinancing after completion with regular lending
Commercial Lending
Specialized lenders to finance your retail, industrial and office properties. Unique suppliers for non-traditional financing.
Home Buying Guide
01
Homebuying Step by Step: Your guide to buying a home in Canada
CMHC – A homebuying guide for first-time buyers and anyone house hunting again.
Have Questions?
Frequently Asked
Questions
Banks VS. Broker
Banks only offer products, including mortgages, from their own institutions. That’s just a single source of mortgage options. Licensed mortgage brokers, can source mortgages from a huge selection of banks and lenders with a variety of policies. That means we have many more options to consider, and many more opportunities to find you a better rate than your bank will provide.
How much do I need for down payment?
For most people, the minimum down payment you can make is 5% for the first $500,000 of the purchase price, and 10% for the portion between $500,000 and $999,999. For homes that cost $1 million and greater, the minimum down payment is 20% of the purchase price.
Fixed Term VS. Variable Term
- With a fixed-rate mortgage, the interest rate and mortgage payments will remain the same throughout the mortgage term.
- With a variable-rate mortgage, the mortgage rate will change with the prime lending rate as set by your lender.
What are the closing costs?
Buying a home may include legal fees, an appraisal expense, GST (for new homes, such as pre-sales), home inspection fee and property transfer taxes (BC.ON,MB,SK,NS), Some lender fees if using B lending or private lending solutions.
No cost from Eternal`s services.
What is CMHC Insurance ?
Mortgage default insurance, often referred to as CMHC insurance, is mandatory in Canada on property purchases where less than 20% of the purchase price was made as a down payment. Mortgage default insurance protects lenders in the event a borrower defaults on their mortgage loan.
There are three mortgage default insurance providers in Canada: CMHC, Sagen (formerly Genworth Financial Canada) and Canada Guaranty
High ratio VS. Conventional
A high-ratio mortgage is a home loan greater than 80% of a home’s value.( Down payment is less than 20%, mortgage include CMHC Insurance premier) ,A conventional mortgage, which requires at least 20% down, is a loan of less than 80% of a home’s value
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