Best Variable – Fixed Mortgage Rates Toronto, Home Mortgage, Northwood Mortgage, best rate mortgage.#Best #rate


Our Best Home Mortgage Rates Toronto – Fixed Variable

Our lowest mortgage rates change frequently as we often receive short-term rate promotions daily. These promotions are never posted online. Meet with one of our Mortgage Agents to get the best mortgage solution for you!

Specials

  • 10 Year Fixed Rate Special 3.94% Your last mortgage ever
  • 5 Year Variable rate mortgage Insured at Prime .95% (2.25%)
  • Open line of Credit at Prime + .50% (3.70) some conditions apply

Many of our rates can be guaranteed for up to 4 months! This means if you secure a mortgage in April, the rate is guaranteed until August

If you are buying a home (in Canada) now, or switching from a current lender, you can secure these rates NOW by contacting us today.

Rates subject to change without notice and OAC Some Conditions Apply

Mortgage Rates

When mortgage rates change, it can happen quite quickly. So when it comes to mortgage, timing is everything. Be sure to secure your loan while rates are favourable in order to get the best deal possible. Also, if you are looking to buy a home or you are thinking about changing from your current lender, you ll want to do your research before you make any final decisions.

Remember, all mortgages aren t created equal, so it s important to compare mortgage rates and to go with a company that you trust. The terms and conditions of mortgages vary, as do the interest rates. A mortgage should be set up to fit your needs as much as possible. We want to equip you with the knowledge you need to make the best decision.

What is an open mortgage?

An open-term mortgage is an appealing option to those who plan on paying off their mortgage sooner rather than later. This type of mortgage can be repaid fully or partially at anytime without prepayment interest fees. If you want to convert them to another term, you are able to do so at anytime again without prepayment interest fees. The interest rates for open mortgages tend to be higher than those of closed mortgages because they have such flexibility.

What is a closed mortgage?

A closed-term mortgage is the common choice for people who aren t planning to pay off their mortgage in the near future. The interest rates for closed term mortgages tend to be lower than that of open mortgages. With closed term mortgages, you re able to save on interest costs and hopefully this will help you to pay your mortgage back quicker. Fixed or variable options are available for closed term mortgages but there s a restriction on the principal amount that you can pay towards our mortgage each year.

If you want to renegotiate your rate, you will need to pay a prepayment charge. In addition, you will need to pay this prepayment charge, if you want to pay off the balance of your mortgage before the end of the term or if you want to prepay more money than your mortgage will allow you to.

Prepayment Charges

With prepayment charges you have the flexibility to increase your monthly payments or to pay the whole thing off. Contact our team of experts to find out more about prepayment options.

Comparison: Variable vs. Fixed Mortgage Rates

Fixed Mortgage Rates

More than 50% of Canadians have fixed mortgage rates, which means the monthly payment stays the same over the full term. You are protected against fluctuating interest rates, so it can set up and you don t have to worry about it. If you want stability this is the best option for you.

Variable Mortgage Rates

With a variable mortgage, your rates are typically lower but they will vary over the term. Your payments will be based on market behaviour and this will have an affect on how much you are paying. The amount that you are paying will change over time.

What We Offer:

At Northwood Mortgage, our dedicated and knowledgeable staff are able to provide you with our best mortgage rates.

Call us today at 1-888-492-3690 for more details.


Direct Mortgage Wholesale, Online Rate Locks, Loan Programs, Automated Underwriting System, best rate mortgage.#Best #rate


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What People Are Saying:

“What an excellent product! I’ve already used it to price out two loans since this afternoon’s training. I am really looking forward to using this product often.” Melanie R., Florida

“The Loan Choices is a fabulous engine that will definitely improve our turnaround. The more I work with it, the more I find it as a MUST tool for every LO and mortgage company.” Les Z., FL

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Best rate mortgageBrokers: Help your borrowers avoid foreclosure. Know the options.

ABOUT DIRECT MORTGAGE

Direct Mortgage Wholesale provides pace-setting rates, cutting-edge loan programs, online rate locks, and the most robust automated underwriting system in the business. More

Interested in signing up with Direct Mortgage Wholesale? Fill out our Online Broker Application or send an email to get started.

Submit Your Loan to Direct Mortgage – Instructions

Why we are different: Best rate mortgage

Paperless Mortgage Office: Learn More, e-Fax to Scan, Print to Image

Best rate mortgage

In a day and age when many lenders are struggling, we are a wholesale mortgage bank that continues to innovate, create new loan programs, and pioneer automation cutting-edge technology. Our proprietary software, DirectWare Loan Choices features Predictive Analytics, assists you in selecting the right loan at the right price, including Fannie Mae, Freddie Mac, and Direct Mortgage s own loan portfolio; and provides real time pricing, loan registration and online rate locking.

  • Loan Choices with Predictive Analytics
  • Drag Drop underwriting checklist
  • FHA & VA loans and sponsorships
  • USDA loan
  • Paperless Loan Submissions
  • Lock online until 3 am Eastern, 1am Mountain Time, midnight Pacific.
  • Automatic notifications of U/W status, e.g., that loan is locked (including anticipated yield spread), clear to close, or is funded.
  • Text notifications to phone
  • Calyx Point lender

Furthermore, Direct Mortgage is a wholesale mortgage lender with a philosophy of “close the loan.” Whether that means educating brokers about loan products available on the market, providing free uploads of loan applications, automatically underwriting referred borrowers against alternative loan programs, or going the extra mile to personally obtain outstanding conditions on a pending loan, Direct Mortgage associates focus on getting the deal done.

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Best Texas Mortgage Lender, Houston Home Loans, Mortgage Brokers, best mortgage lenders.#Best #mortgage #lenders


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Pre Qualify Now!

  • Conforming and Non-Conforming Jumbo
  • Get approved for up to 3 million
  • Great Terms and the Best Rates
  • Up to 95% Loan Value
  • Low Down Payment
  • Higher Debt to Income Ratio Requirements
  • Low Interest Rate
  • Gift Funds Allowed for Down Payment
  • Close in 30 days or less
  • Low Interest Rate
  • Closing costs can be included
  • All repairs can be included

  • 1st Preliminary Assessment Let s see if you re qualified.
  • 2nd Appraisal Report Let s find out the value.
  • 3rd Approval and Closing We can close your file in 30 days or less!
  • See exactly how much you can qualify for instantly!
  • Work with our award winning team of local Loan Specialists.
  • Let us help you close your loan in 30 days or less.

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  • Latest U.S. Mortgage News
  • Mortgage Rates are Updated Daily
  • Complete Consumer Mortgage News
  • AMCAP Mortgage provides the lowest, most current mortgage rates available.
  • Work with the BEST lending company in the Greater Houston Area.
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Real Clients. Real Stories. Real Results.

Our goal is to provide you with the best customer service possible.

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AMCAP Mortgage is a company i would really recommend to anyone, not to mention that Gerry , Anna and Donna are very knowledgeable and helpful View more »

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Mr. Nicodemus is truly one of the best in the mortgage industry. He is well versed and extremely knowledgeable regarding View more »

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Before we started looking for a home, we had gone to one of the “big bank” mortgage departments to get pre-approved and to see how View more »

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would highly recommend AMCAP for ANYONE looking to buy a home. Gerry, Anna and the whole team were great to work with and guided View more »

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We just wanted to say thanks again for all your help with everything. We closed and are now proud home owners! The title company View more »


Las Vegas Mortgage Lenders, Best Home Loan Broker Experience, Casey Moseman, CMPS Las Vegas Custom


Converting Your Home to Rental Property

Best mortgage lenders

Converting your primary property into a rental property cannot be done on the spur of the moment, it requires planning and a cost benefit analysis

Assess the risk

May require another type of insurance

Repairs and/or Upgrades

Deciding What Will You Charge
Finding a Tenant

Share this:

Like this:

How to Get a Second VA Mortgage?

A Quick Guide to Understanding the Second VA Mortgage

Best mortgage lendersThe U.S. Department of Veterans Affairs backs VA mortgages also known as VA Loans for military families since 1944. A VA Mortgage helps families purchase single-family homes through private lenders.

There are a lot of misconceptions out there about the VA loan program or the VA Mortgage. Two of the most common are rooted in the concept of VA entitlement, which is basically the amount of money the agency guarantees they will pay back the bank in case if you foreclose or short sale the home. It is possible in certain cases to have 2 VA home loans at the same time. And you can definitely qualify for a VA Mortgage even if you defaulted on one in previous years.

Understanding Entitlement

Can You Have More than One VA Mortgage at one time?

What are the Advantages?

Types of VA Loans

Share this:

Like this:

How to Buy a Home with a Low or Zero Down Payment

The truth about no or low down payment mortgagesBest mortgage lenders

FHA Program

The HomeReady Mortgage Program

VA Loans

Acquiring a Private Mortgage Insurance
State and local home buyer programs

Share this:

Like this:

What are Mortgage Overlays?

Navigating the wide world of lender mortgage overlays

Specific Overlay Examples

We have put together a list of most common mortgage overlays in relation to the published mortgage guidelines.

  • Debt to Income ratio – FHA set a maximum debt to income ratio of 56.9% for potential buyers with a minimum credit rank of 620. However, there are a few lenders that will not approve a mortgage unless the debt to income ratio is over 43%
  • Minimum credit scores – While the FHA requires a minimum FICO score of 580 to qualify, the majority of lenders require a score of 600 or 620 or even 640 in order for them to consider the mortgage loan.
  • Down Payment requirements – According to Fannie Mae and Freddie Mac’s guidelines borrowers need a 3% to 5% down payment in order to buy a house using a conventional mortgage. However, some lending institutions may increase the interest rate on the mortgage by 0.125% up to 0.50% or, they might require a bigger down payment if you have a credit score below 700.
  • Bankruptcy requirements – If you have a prior bankruptcy, foreclosure, deed in lieu of foreclosure, and/or short sale, there are certain federal mandatory requirements for you to qualify for a mortgage loan. After a potential borrower is discharged from bankruptcy they may apply for a mortgage loan. However, most lending institutions ask customers to wait up to two years once the discharge is complete. There are different waiting periods for different types of loans.

Additional Common Overlays

  • Property types – A veteran may use a VA mortgage to purchase almost any kind of property; however, some lenders do not offer a VA mortgage for a condo or a manufactured home. Some lenders won’t lend on condotels or timeshares at all. Or non-warrantable condominiums.
  • Credit History – With limited credit history, it’s more difficult for lenders to determine a track record of how you handle credit. There are lender overlays in place that require a certain number of credit accounts and a minimum number of years of payment history in order to consider you for a loan.

Dealing with lender credit overlay when you are planning to purchase a house can be challenging. As each lending institution has a different set of credit overlays. To avoid shopping around contact Casey Moseman. She will find you a lender that perfectly matches your criteria. Here at, All Western Mortgage, we can help you shop around for multiple lenders at once, which will limit the amount of work you have to do.

Share this:

Like this:

Mortgage Credit Certificate (MCC) Tax Credit Program

Nevada State Mortgage Credit Certificate (MCC) Program


Current Mortgage Rates Today – View The Best Mortgage Rates, best mortgage lenders.#Best #mortgage #lenders


Current Mortgage Rates Today

Current Mortgage Rates – Mortgage Rates Today

Best mortgage lenders

Mortgage 101: A Mortgage Resource Guide

This guide will help first-time home buyers and seasoned veterans get the information they need to make the correct financial decision regarding their mortgage. Our goal is to provide information and resources for everything you need to know about the mortgage process. Whether you are shopping for your first home or you are already established in a existing home, this page can be your guide. Take the necessary steps to make purchasing your first home or maintaining your existing home a seamless [Read More. ]

Latest Mortgage Information

Best mortgage lenders

Top 10 Loan Modification Lenders

Many Americans have been affected by the recent economic crisis. Millions of homes have gone into foreclosure, and millions of families have lost their homes. If you are at risk for losing your home, the good [Read More. ]

Mortgage Tips Tricks

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The Top 10 Tips to Help Homebuyers Thrive in Today s Current Home Market

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Invest Smarter by Understanding the Top 6 Most Common Mortgage Myths

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Top 5 Mortgage Scams to Watch Out For This Year

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5 Important Reasons Why You Should Pay Off Your Mortgage Sooner Than Later

Tip of the Day

The Mortgage Library

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How to Tell if Current Mortgage Interest Rates Will Continue to Rise

Up until not long ago mortgage rates used to be very low, close to the lowest they have ever been. Rates have decreased to near record lows due to the recent housing market crash, which affected both homeowners and mortgage lenders. While millions of people have lost their [Read More. ]

Best mortgage lenders

Could a 10 Year Mortgage Rate Be Your Best Mortgage Option?

One of the key aspects of finding a good mortgage loan is determining what type of mortgage term works out best for you. Long-term mortgage loans seem more attractive at first glance because the monthly payment is much smaller, but if you factor in the larger interest rate, [Read More. ]

Best mortgage lenders

How the Current Government Shutdown is Affecting FHA Mortgages

The housing market has been recovering steadily lately, but the current government shutdown may interfere with that progress. For the first time in 17 years, the government has partially shut down. Besides other important implications, this shutdown could affect people who [Read More. ]

Best mortgage lenders

Bad Credit Home Loans Are They Possible With Today s Stiffer Regulations?

There are many reasons for having a bad credit score, and you might be wondering if you are still able to buy a home, despite your shortcomings. The truth is that there are no rules set in stone when it comes to bad credit home loans. Some lenders may be more lenient than [Read More. ]

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What is this Difference Between a Home Equity Line of Credit vs Home Equity Loan

When buying a home with a mortgage loan, both you and your lender own parts of the home. The part of the home that you own is represented by the equity which builds up each time you make a payment. Having equity in your home allows you to take out a house equity loan by [Read More. ]

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What Are the Typical Home Equity Loan Requirements

Home equity loans are designed to help homeowners gain quick access to some much needed cash by tapping into the equity in their homes. Home equity loans provide an alternative to taking out other types of loans or opening new credit card accounts. While other forms of [Read More. ]

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Pros and Cons of Home Equity Loans

Home equity loans allow homeowners to take out a loan using the equity accumulated in their home as collateral. Home equity loans give you quick access to money that can be used for a home remodeling project, medical bills or college tuition. A home equity loan can be more [Read More. ]

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Is it Possible to get a Home Equity Loan With Bad Credit?

Getting a home equity loan with poor credit is more difficult, but not impossible. Before you decide to make improvements to your home or decide that you need some quick cash, you need to find out if a lender is willing to give you a home improvement loan and how your loan [Read More. ]


Loan Program Handbook for Lenders, Realtors, Non-Profits, CalHFA, best home loan lenders.#Best #home #loan #lenders


Loan Program Handbooks for Lenders, Realtors, and Non-Profits

CalHFA has organized its program information into convenient handbooks for easy reference. All the information for a given program from qualifying criteria to forms docs is collected in one easy place. You can print them out for desktop reference, or browse and search them online in PDF format. Get familiar with their layout, and you’ll be a CalHFA program whiz in no time.

FIRST MORTGAGE PROGRAMS

Conventional Loans (Conventional Program Matrix)

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Lender Training Video: Conventional First Mortgage Products

A description of how your clients can benefit from CalHFA’s Conventional Loan Programs. Don’t forget to take the exam after each video for a verification of training.

The CalHFA Conventional program is a first mortgage loan insured through private mortgage insurance on the conventional market. The interest rate on the CalHFA Conventional is fixed throughout the 30-year term.

The CalPLUS Conventional program is a conventional first mortgage with a slightly higher fixed interest rate than our standard conventional program. This loan is fully amortized for a 30-year term and is combined with the CalHFA Zero Interest Program (ZIP) for closing costs.

Government Insured Loans (Government Loan Programs Matrix)

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Lender Training Video: FHA First Mortgage Products

A description of how your clients can benefit from CalHFA’s FHA Loan Programs. Don’t forget to take the exam after each video for a verification of training.

The CalHFA FHA program is an FHA-insured loan featuring a CalHFA fixed interest rate first mortgage. This loan is fully amortized for a 30-year term.

The CalPLUS FHA program is an FHA-insured first mortgage with a slightly higher fixed interest rate than our standard FHA program. This loan is fully amortized for a 30-year term and is combined with the CalHFA Zero Interest Program (ZIP) for closing costs.

The Cal-EEM + Grant program combines an FHA-insured Energy Efficient Mortgage first mortgage loan with an additional Cal-EEM Grant, making energy efficient improvements even easier. The interest rate on the Cal-EEM is fixed throughout the 30-year term.

The CalHFA VA program is a VA-insured loan featuring a CalHFA fixed interest rate first mortgage. This loan is fully amortized for a 30-year term.

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Lender Training Video: CalHFA VA Loan Program

A description of how your clients can benefit from the CalHFA VA Loan Program.

DOWN PAYMENT ASSISTANCE PROGRAMS

Offers a deferred-payment junior loan of an amount up to the lesser of three and half percent (3.5%) of the purchase price or appraised value to assist with down payment and/or closing costs.

This program is for teachers, administrators, school district employees and staff members working for any California K-12 public school, which includes Charter schools and county/continuation schools. Applicants must also be first-time homebuyers. Offers a deferred-payment junior loan of an amount not to exceed the greater of $7,500 or 3.5% of the sales price or in CalHFA-defined high cost areas an amount not to exceed the greater of $15,000 or 3.5% of the sales price. Assistance can be used for down payment.

Resubordination Process for CalHFA Junior Loans

*As of February 1, 2017, all resubordination application packages must be submitted electronically. Please refer to the resubordination instructions below.

Recent legislation has enabled CalHFA to resubordinate existing junior loans if homeowners meet certain eligibility requirements. This legislation will help existing homeowners keep their homes by allowing them to refinance their existing first mortgage and not be forced to pay off their existing CalHFA junior loan(s).

To determine if subordinate lien(s) belong to CalHFA or Keep Your Home California (KYHC), please refer to these examples for clarification.

MORTGAGE CREDIT CERTIFICATE TAX CREDIT PROGRAM

A federal credit which can reduce potential federal income tax liability, creating additional net spendable income which borrowers may use toward their monthly mortgage payment. This MCC Tax Credit program may enable first-time homebuyers to convert a portion of their annual mortgage interest into a direct dollar for dollar tax credit on their U.S. individual income tax returns.

Updates and changes will be announced from time to time via a Program Bulletin ( Program Bulletin or Program Bulletins ) and Lenders should sign up for Enews announcements and monitor CalHFA s website for specific Program Bulletin updates and changes to the Program Manual.

Whenever possible, CalHFA will provide its Lenders a five (5) business day notice via a CalHFA Program Bulletin or Enews announcement regarding program and policy changes.

Some exceptions may apply to the notification policy, such as daily interest rate announcements and changes directed by other state (e.g. State Treasurer s Office), federal (e.g. GSEs, FHA) or private (e.g. Master Servicer and Mortgage Insurance provider) partners who have not allowed sufficient time for a 5-day notification.

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Reverse Mortgage Calculator

Each week we update our online calculator to reflect our most popular programs offered at All Reverse Mortgage . You can request a formal analysis including written loan comparisons of ALL options, closing costs and amortization schedules by completing step 3 or call us while you’re using this calculator Toll Free (800) 565-1722

Input your date of birth, property zip code, estimated home value and existing mortgages (if applicable)

Unsure of your home value? Not to worry. When you request a formal analysis our team will also include a free property report.

Did You Know? Anytime you close a reverse mortgage within 6 months from your next birthday you will automatically be calculated a year older.

Step 2

Did You Know? On the adjustable plans you can change the terms of your reverse mortgage after closing for a time fee of $20. i.e. Move from a credit line to payment plan or vice versa.

Unsure of Program? Not to worry. Our expert team will provide straightforward comparisons of all your options. We look forward to helping you decide which HECM program may be most suitable for your immediate or long term needs.

Step 3

Did You Know? Once you request an application we lock in your expected rate which guarantees you access to the current principle limit even if rates should rise.

Additional Calculators courtesy of All Reverse

Legal Stuff: All Reverse Mortgage Calculator and all content included on this page and on their website are for borrower convenience only. Results using the online calculator are loan estimates, and terms produced by the calculator may not be presently available credit terms. All Reverse Mortgage will endeavor to maintain current information and a fully functioning calculator for customer use at all times, but cannot guarantee terms available or that system malfunctions will never occur. To receive an actual proposal or available programs, rates and terms, you must contact our office. Interest rates (fixed rate and adjustable rate, LIBOR index) and amortization, mortgage insurance premiums (MIP), origination fees, lender margins, payment options and closing costs may vary. Borrowers with reverse mortgages must continue to pay all property charges such as property taxes, hazard insurance and HOA dues (if any). Please contact our office to determine eligibility


Las Vegas Mortgage Lenders, Best Home Loan Broker Experience, Casey Moseman, CMPS Las Vegas Custom


Converting Your Home to Rental Property

Best home mortgage lenders

Converting your primary property into a rental property cannot be done on the spur of the moment, it requires planning and a cost benefit analysis

Assess the risk

May require another type of insurance

Repairs and/or Upgrades

Deciding What Will You Charge
Finding a Tenant

Share this:

Like this:

How to Get a Second VA Mortgage?

A Quick Guide to Understanding the Second VA Mortgage

Best home mortgage lendersThe U.S. Department of Veterans Affairs backs VA mortgages also known as VA Loans for military families since 1944. A VA Mortgage helps families purchase single-family homes through private lenders.

There are a lot of misconceptions out there about the VA loan program or the VA Mortgage. Two of the most common are rooted in the concept of VA entitlement, which is basically the amount of money the agency guarantees they will pay back the bank in case if you foreclose or short sale the home. It is possible in certain cases to have 2 VA home loans at the same time. And you can definitely qualify for a VA Mortgage even if you defaulted on one in previous years.

Understanding Entitlement

Can You Have More than One VA Mortgage at one time?

What are the Advantages?

Types of VA Loans

Share this:

Like this:

How to Buy a Home with a Low or Zero Down Payment

The truth about no or low down payment mortgagesBest home mortgage lenders

FHA Program

The HomeReady Mortgage Program

VA Loans

Acquiring a Private Mortgage Insurance
State and local home buyer programs

Share this:

Like this:

What are Mortgage Overlays?

Navigating the wide world of lender mortgage overlays

Specific Overlay Examples

We have put together a list of most common mortgage overlays in relation to the published mortgage guidelines.

  • Debt to Income ratio – FHA set a maximum debt to income ratio of 56.9% for potential buyers with a minimum credit rank of 620. However, there are a few lenders that will not approve a mortgage unless the debt to income ratio is over 43%
  • Minimum credit scores – While the FHA requires a minimum FICO score of 580 to qualify, the majority of lenders require a score of 600 or 620 or even 640 in order for them to consider the mortgage loan.
  • Down Payment requirements – According to Fannie Mae and Freddie Mac’s guidelines borrowers need a 3% to 5% down payment in order to buy a house using a conventional mortgage. However, some lending institutions may increase the interest rate on the mortgage by 0.125% up to 0.50% or, they might require a bigger down payment if you have a credit score below 700.
  • Bankruptcy requirements – If you have a prior bankruptcy, foreclosure, deed in lieu of foreclosure, and/or short sale, there are certain federal mandatory requirements for you to qualify for a mortgage loan. After a potential borrower is discharged from bankruptcy they may apply for a mortgage loan. However, most lending institutions ask customers to wait up to two years once the discharge is complete. There are different waiting periods for different types of loans.

Additional Common Overlays

  • Property types – A veteran may use a VA mortgage to purchase almost any kind of property; however, some lenders do not offer a VA mortgage for a condo or a manufactured home. Some lenders won’t lend on condotels or timeshares at all. Or non-warrantable condominiums.
  • Credit History – With limited credit history, it’s more difficult for lenders to determine a track record of how you handle credit. There are lender overlays in place that require a certain number of credit accounts and a minimum number of years of payment history in order to consider you for a loan.

Dealing with lender credit overlay when you are planning to purchase a house can be challenging. As each lending institution has a different set of credit overlays. To avoid shopping around contact Casey Moseman. She will find you a lender that perfectly matches your criteria. Here at, All Western Mortgage, we can help you shop around for multiple lenders at once, which will limit the amount of work you have to do.

Share this:

Like this:

Mortgage Credit Certificate (MCC) Tax Credit Program

Nevada State Mortgage Credit Certificate (MCC) Program


Current Mortgage Rates Today – View The Best Mortgage Rates, best home mortgage lenders.#Best #home


Current Mortgage Rates Today

Current Mortgage Rates – Mortgage Rates Today

Best home mortgage lenders

Mortgage 101: A Mortgage Resource Guide

This guide will help first-time home buyers and seasoned veterans get the information they need to make the correct financial decision regarding their mortgage. Our goal is to provide information and resources for everything you need to know about the mortgage process. Whether you are shopping for your first home or you are already established in a existing home, this page can be your guide. Take the necessary steps to make purchasing your first home or maintaining your existing home a seamless [Read More. ]

Latest Mortgage Information

Best home mortgage lenders

Top 10 Loan Modification Lenders

Many Americans have been affected by the recent economic crisis. Millions of homes have gone into foreclosure, and millions of families have lost their homes. If you are at risk for losing your home, the good [Read More. ]

Mortgage Tips Tricks

Best home mortgage lenders

The Top 10 Tips to Help Homebuyers Thrive in Today s Current Home Market

Best home mortgage lenders

Invest Smarter by Understanding the Top 6 Most Common Mortgage Myths

Best home mortgage lenders

Top 5 Mortgage Scams to Watch Out For This Year

Best home mortgage lenders

5 Important Reasons Why You Should Pay Off Your Mortgage Sooner Than Later

Tip of the Day

The Mortgage Library

Best home mortgage lenders

How to Tell if Current Mortgage Interest Rates Will Continue to Rise

Up until not long ago mortgage rates used to be very low, close to the lowest they have ever been. Rates have decreased to near record lows due to the recent housing market crash, which affected both homeowners and mortgage lenders. While millions of people have lost their [Read More. ]

Best home mortgage lenders

Could a 10 Year Mortgage Rate Be Your Best Mortgage Option?

One of the key aspects of finding a good mortgage loan is determining what type of mortgage term works out best for you. Long-term mortgage loans seem more attractive at first glance because the monthly payment is much smaller, but if you factor in the larger interest rate, [Read More. ]

Best home mortgage lenders

How the Current Government Shutdown is Affecting FHA Mortgages

The housing market has been recovering steadily lately, but the current government shutdown may interfere with that progress. For the first time in 17 years, the government has partially shut down. Besides other important implications, this shutdown could affect people who [Read More. ]

Best home mortgage lenders

Bad Credit Home Loans Are They Possible With Today s Stiffer Regulations?

There are many reasons for having a bad credit score, and you might be wondering if you are still able to buy a home, despite your shortcomings. The truth is that there are no rules set in stone when it comes to bad credit home loans. Some lenders may be more lenient than [Read More. ]

Best home mortgage lenders

What is this Difference Between a Home Equity Line of Credit vs Home Equity Loan

When buying a home with a mortgage loan, both you and your lender own parts of the home. The part of the home that you own is represented by the equity which builds up each time you make a payment. Having equity in your home allows you to take out a house equity loan by [Read More. ]

Best home mortgage lenders

What Are the Typical Home Equity Loan Requirements

Home equity loans are designed to help homeowners gain quick access to some much needed cash by tapping into the equity in their homes. Home equity loans provide an alternative to taking out other types of loans or opening new credit card accounts. While other forms of [Read More. ]

Best home mortgage lenders

Pros and Cons of Home Equity Loans

Home equity loans allow homeowners to take out a loan using the equity accumulated in their home as collateral. Home equity loans give you quick access to money that can be used for a home remodeling project, medical bills or college tuition. A home equity loan can be more [Read More. ]

Best home mortgage lenders

Is it Possible to get a Home Equity Loan With Bad Credit?

Getting a home equity loan with poor credit is more difficult, but not impossible. Before you decide to make improvements to your home or decide that you need some quick cash, you need to find out if a lender is willing to give you a home improvement loan and how your loan [Read More. ]


Best Variable – Fixed Mortgage Rates Toronto, Home Mortgage, Northwood Mortgage, best mortgage.#Best #mortgage


Our Best Home Mortgage Rates Toronto – Fixed Variable

Our lowest mortgage rates change frequently as we often receive short-term rate promotions daily. These promotions are never posted online. Meet with one of our Mortgage Agents to get the best mortgage solution for you!

Specials

  • 10 Year Fixed Rate Special 3.94% Your last mortgage ever
  • 5 Year Variable rate mortgage Insured at Prime .95% (2.25%)
  • Open line of Credit at Prime + .50% (3.70) some conditions apply

Many of our rates can be guaranteed for up to 4 months! This means if you secure a mortgage in April, the rate is guaranteed until August

If you are buying a home (in Canada) now, or switching from a current lender, you can secure these rates NOW by contacting us today.

Rates subject to change without notice and OAC Some Conditions Apply

Mortgage Rates

When mortgage rates change, it can happen quite quickly. So when it comes to mortgage, timing is everything. Be sure to secure your loan while rates are favourable in order to get the best deal possible. Also, if you are looking to buy a home or you are thinking about changing from your current lender, you ll want to do your research before you make any final decisions.

Remember, all mortgages aren t created equal, so it s important to compare mortgage rates and to go with a company that you trust. The terms and conditions of mortgages vary, as do the interest rates. A mortgage should be set up to fit your needs as much as possible. We want to equip you with the knowledge you need to make the best decision.

What is an open mortgage?

An open-term mortgage is an appealing option to those who plan on paying off their mortgage sooner rather than later. This type of mortgage can be repaid fully or partially at anytime without prepayment interest fees. If you want to convert them to another term, you are able to do so at anytime again without prepayment interest fees. The interest rates for open mortgages tend to be higher than those of closed mortgages because they have such flexibility.

What is a closed mortgage?

A closed-term mortgage is the common choice for people who aren t planning to pay off their mortgage in the near future. The interest rates for closed term mortgages tend to be lower than that of open mortgages. With closed term mortgages, you re able to save on interest costs and hopefully this will help you to pay your mortgage back quicker. Fixed or variable options are available for closed term mortgages but there s a restriction on the principal amount that you can pay towards our mortgage each year.

If you want to renegotiate your rate, you will need to pay a prepayment charge. In addition, you will need to pay this prepayment charge, if you want to pay off the balance of your mortgage before the end of the term or if you want to prepay more money than your mortgage will allow you to.

Prepayment Charges

With prepayment charges you have the flexibility to increase your monthly payments or to pay the whole thing off. Contact our team of experts to find out more about prepayment options.

Comparison: Variable vs. Fixed Mortgage Rates

Fixed Mortgage Rates

More than 50% of Canadians have fixed mortgage rates, which means the monthly payment stays the same over the full term. You are protected against fluctuating interest rates, so it can set up and you don t have to worry about it. If you want stability this is the best option for you.

Variable Mortgage Rates

With a variable mortgage, your rates are typically lower but they will vary over the term. Your payments will be based on market behaviour and this will have an affect on how much you are paying. The amount that you are paying will change over time.

What We Offer:

At Northwood Mortgage, our dedicated and knowledgeable staff are able to provide you with our best mortgage rates.

Call us today at 1-888-492-3690 for more details.