Thursday, March 06, 2008

Mortgage Interest Rate Specials

I know some mortgage people that are offering exception mortgage deals now that prime has dropped another .5%

1) 5.64% 5 year rate


Available on BFS and Rental NOT offered on fixed portions within the HELOC NOT offered on Pre-approvals For new purchase offers only

2) Prime rate is now 5.25%

That means qualified deals for ARM, High Ratio Rentals and High Ratio BFS rates are as low as 4.55% (Prime minus 70)

3) City of Toronto's increase to the Land Transfer Tax;

Solutions for Mortgages will take you to a lender who will now cover the cost of the tax for customers obtaining a new fixed rate closed mortgage with a term of 5 or 7 years, subject to the following:

  • Maximum payout amount is $15,000 or 1.5% of the mortgage amount, whichever is less

  • Applications must be submitted between November 22 2007 and March 11 2008, and must fund by March 21, 2008

  • Offer is applicable only to Toronto properties which were affected by the new City of Toronto Land Transfer Tax

  • Purchase transactions only

Eligible rates and terms as follows:

5 year Fixed Rate Mortgage with a rate discount of 1.01% off the posted rate
7 year Fixed Rate Mortgage with a rate discount of 1.22% off the posted rate
Not available in conjunction with any other offers
Funds are paid directly to the customer
Clients must be approved by this lender

4) Rate special on selected
short term mortgages

6 month term
1 year term
3 year term


- For new business only

- No pre-approvals
- No rental or equity deals

-These special rates do not apply to refinances of existing business

Limited time offer.

Let me know if you are interested and I will put you in contact with these mortgage brokers.



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