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Wendi Lanthier

I work for you NOT the bank.  With competitive rates and numerous lenders available, I can find the right mortgage for you!

When getting a mortgage there are going to be certain terms you will hear , here's an explanation for just a couple.

Mortgage Terms


Mortgage Insurance  ( INSURERS) -  In Canada every mortgage that has less than 20% down payment MUST be insured.  There are 3 insurers for this: CMHC, Genworth & Canada Guaranty.  ( not to be confused with home insurance, or life and disability mortgage insurance)

Qualifying Rate - As of Oct. 2017 the federal government put into place a " Stress Test" for home buyers. The qualifying rate isn't the rate you are getting, but a higher rate that your broker must use to show the affordability.

Conditional Commitment-  This is what your broker will receive from the lender after the application has been submitted.  ( There will be conditions that you and your broker will need to satisfy before the final approval is given) 

Flex- Down Payment -  This is where you can borrow from your own available credit for a portion of your Down Payment. ( as with everything, there are rules and stipulations to this, ask me about them!)

 Amortization - the number of years that the total amount of the loan is set.

Term - How long the loan will have the terms and rates set out for before renewing without penalty

Contact me for a further explanation on these  and more



Fixed vs. Variable Rates

 Both have their own unique advantages and disadvantages.  

 Contact me today to discuss which option is right for you!!

Mortgage Calculator

 Ready to see what you qualify for?
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Pre-approvals in as little as 20 minutes 

Click here 
http://bit.ly/RCFWendi

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A little about me

I'm not just a mortgage broker.
I am a wife, mom, entrepreneur and volunteer. 

Me
Trusted mortgage Broker to the Peace Country

 

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Giving back to the community is so important!

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