If you need funds for improvements when you purchase

If you need more funds when purchasing or refinancing with improvements

Increase to the market value of the property is limited to 10% of the property’s as-improved market value

v First Advance – based on the properties as is value up to 95% LTV

v Improved Value – up to 10% of the market value after improvements. Advance after the improvements are completed.

v Down Payment – Based on improved value minimum 5%.

v EXAMPLE

Current market value $117,000

Acceptable as-improved market value of property $130,000

(i.e. maximum increase to market value = $130,000 x 10% = 13,000)

1^st advance up to 95% of current market value, and subsequent advance up to 95% of as-improved market value.

Products available for improvements that exceed 10% of the property’s as improved market value.

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com

• Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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Have you heard of the new 50 Year Mortgage?

You've no doubt seen 30 year and even the 40 year mortgage in the past year or so. But now, a Canadian mortgage and credit company is offering a 50 year amortization mortgage. Yes, you heard it right, 50 years!

The company is called Centum and they say they offer mortgage financing, home equity loans and debt consolidation especially designed for first time buyers and those with good, bad or marginal credit. Their site is labuick .com

It will likely not be too long before the other major lenders follow the lead!

Does this mean that you need to buy your first home at 15 years old to have it paid off by retirement? ;-))

http://www.mississauga4sale.com/bestrate.htm

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

Mortgage Rates and Factors to calculate payments

Mortgage Rates and Factors to calculate payments

When calculating mortgage payments, there are quick factors that can be used for a particular interest rate. For example, if the interest rate is 5.95% then the factor is 6.37 per $1,000 in mortgage, thus if you want to know the payments on a $120,000 mortgage at 5.95% then you would multiply $120,000 x 6.37/1,000 = $764.40

The table below shows current rates and their factors.

Discounted Rate (OAC)/ Cost Factor per Thousand

1 Year 6.00% / $6.40

2 Year 6.10% / $6.46

3 Year 6.05% / $6.43

4 Year 5.95% / $6.37

5 Year 5.79% / $6.27

7 Year 6.20% / $6.51

10 Year 6.30% / $6.58

5 Year Variable 5.15% / $5.90

See my mortgage calculators at this page: http://www.mississauga4sale.com/mortgage-payment-calculator.htm

read more about Mortgage Interest Rates

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

Mortgage Calculators - help with your payments and income qualification

Online Mortgage Calculators This edition of my blog writings has the latest and best rates for Canadian mortgages. At mortgages, we work on your behalf to find the mortgage that suits your needs. Best of all - our service is "free" for the asking It's the selected lender that gets YOU the best rate. *(O.A.C., E.&O.E.)

• Examples of Current Mortage Interest Rates • Explore Mortgage Scenarios with Helpful Calculators on dominionlending.ca

Terms Posted Rates Discounted Rates 1 YEAR 7.40% 5.65% 2 YEARS 7.55% 6.05% 3 YEARS 7.55% 5.90% 4 YEARS 7.55% 6.04% 5 YEARS 7.54% 5.90% 7 YEARS 7.85% 6.25% 10 YEARS 8.15% 6.30% Rates are subject to change without notice. *OAC E&OE Prime Rate is 6.00%.

Variable rate mortgages from as low as Prime minus 0.60%. Rates are subject to change without notice. Fixed mortgage rates shown in table above and quoted variable mortgage rates are available nationally to qualified individuals. Lower rates may be available to those with higher credit scores or higher net worth – check with your mortage Expert for full details. *O.A.C., E.& O.E. Explore Mortgage Scenarios with Helpful Calculators on mortgages When you're starting to think about what mortgage approach would be beneficial, my online mortgage calculators can help uncover some possible strategies. The Mississauga4Sale website at mortgages features a full line-up of mortgage tools which allow borrowers like you explore mortgage scenarios before speaking to a mortgage expert. If you're planning on buying a home, you can calculate: • the mortgage amount for which you can comfortably qualify, • your mortgage payments along with an amortization schedule to discover what you would owe in five years, • savings realized by making prepayments on your mortgage. If you currently have a mortgage, you can calculate: • how large a home equity line of credit you may be eligible for, • how much interest you could save by refinancing your mortgage, • how to accelerate paying off your mortgage debt. By visiting mortgages and clicking on "Calculators" on the main page, you can access a range of easy-to-use calculators that will provide you with ample insight into all aspects of mortgage financing.

I wish you all the best.

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns