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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!!

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A little about me

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

Trusted mortgage Broker to the Peace Country


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Giving back to the community is so important!

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