Do you know what mortgage rates can I get in Toronto with 100% financing?? thanks
2006-11-15 05:27:20 · 4 answers · asked by cagc2003 1 in Business & Finance ➔ Renting & Real Estate
I am US-based so I can't speak of Canadian rates, but can give you some general info. Rates are based on the following:
1. Your credit score
2. How much the down payment is (in your case 0%)
3. Property type (primary residence, investment, vacation)
4. How many units - 1, 2, 3 or 4
Please note, with 0% down you should expect the rate to be slightly higher than had you put more down. Can't say by how much - might be different in Canada.
2006-11-15 08:09:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
As a private loan consultant/loan Officer and a Realtor i will permit you comprehend that this may be on the extreme component in spite of the undeniable fact that it relies upon at this methodology getting used too. you have some aspects that play against you in this occasion and that they are... a million. a hundred% financing; 2. NO PMI; and 3. finally the reality which you're in all threat finding for little or no last fees. So that's no longer out of the norm. are you able to get a greater proper cost - specific you may yet i'm keen to declare which you're or don't have the money to place into last fees for this reason those funds are made up or coated in the interest cost. As for kin/acquaintances telling you which you will get low 6% selection that's inaccurate except you're taking an ARM software(dont do it!!!) or you purchase down the interest cost, meaning larger last fees. Now hopefully you have a Realtor and a powerful one, if so then this realtor hopefully would have helped you to get the sellers to PAY last fees as this in effortless terms places you in a greater proper place. I choose you each and every of the perfect and if i grants help to with any questions only permit me comprehend regrettably i'm no longer authorized on your state as we communicate.
2016-10-15 14:16:11 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Im a mortgage broker from Alberta. It all depends on your beacon score. If you have good credit with a beacon score above 680 You can get a rate of 5.2%. If your credit is not so good the rate will go up and you will have to use secondary lenders. go to my website www.albertamortgageguy.com for more info
2006-11-18 06:32:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes. there are banks and other financial institutions that can do it. chances are that your APR would be a bit high.
2006-11-15 05:35:50 · answer #4 · answered by Halo 5 · 0⤊ 0⤋