Energy-Efficient Housing Made More Affordable with Mortgage Loan Insurance

More than 17 percent of the energy consumed in Canada is used to run our homes. Buying an energy-efficient home or making energy-saving renovations can offer big savings. A 10% CMHC mortgage loan insurance premium refund and extended amortization period without surcharge may be available when you use CMHC insured financing to purchase an energy-efficient home or make energy-saving renovations.

Mortgage Loan Insurance

For most people, the hardest part of buying a home — especially a first home — is saving the necessary down payment. To help, CMHC offers lenders Mortgage Loan Insurance, which allows you to buy a house with a minimum down payment of 5%. Offered through most financial institutions, this simple solution has enabled millions of Canadians to realize the dream of homeownership.

CMHC made dreams of homeownership easier to obtain by allowing qualified home buyers to use additional sources of funds for down payments such as a loan or lenders’ cash back incentives.

Help the Planet, Help Your Wallet

CMHC has added environmentally friendly features to the Mortgage Loan Insurance it offers. If you use CMHC insured financing to buy an energy-efficient home, purchase a house and make energy-saving renovations or renovate your existing home to make it more energy-efficient, a 10% refund on the Mortgage Loan Insurance premium may be available. You could also have the added flexibility of an extended amortization (up to a maximum of 35 years) without a premium surcharge.

The Government of Canada actively promotes energy conservation and initiatives to reduce greenhouse gas emissions that contribute to climate change.

How It Works

If You’re Thinking of Buying or Building an Energy-Efficient Home.

If You Own a Home and are Thinking of Renovating to Make your Home More Energy-Efficient.

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

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Easy to use mortgage tools to help you establish your financial situation, determine how much house you can afford and the maximum price that you should be considering.

Household Budget Calculator
Compare your income with your current or planned expenses and debt payments and see what you can afford.

Mortgage Payment Calculator
A tool to find how much and how often your payment will be. Compare options and find one that’s right for you.

Mortgage Affordability Calculator
Easy to use mortgage tool to help you estimate the maximum mortgage you can afford.

Source: CMHC

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

How to Deal with Mortgage Payment Difficulties

When unforeseen financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. With early intervention, cooperation, and a well executed plan, you can work together with your mortgage professional to find a solution to your financial difficulties.

What Can I Do to Help?

If you find yourself facing financial difficulties, as a result of job loss, family income reduction, or for other reasons, it can be an overwhelming experience leaving you feeling uncomfortable and unsure of what to do. By following these three simple steps, you can make a big difference in resolving your financial difficulties.

1. Talk to your mortgage professional

• To increase the chance of successfully managing your financial situation through early intervention, call your mortgage professional at the first sign of financial difficulty;
• Ask the mortgage professional about information on the options available for managing your financial situation; and
• Keep the mortgage professional informed as circumstances evolve.

2. Clarify the financial picture

In order to help your mortgage professional fully understand your financial situation, before meeting with them, prepare a detailed list of financial obligations including any credit cards, loans, household bills with the amounts owing and their due dates. Be sure to include information about your current income, savings accounts, investments, and any other assets.

3. Stay informed

The more information you have at your disposal on managing your finances, the easier it will be to make the right decisions.

Take Charge of Your Debts is an online tool from the Government of Canada that is designed to help borrowers like you understand debt problems, and includes information on making a budget, budget counselling, collection agencies, credit, and credit repair. To view this tool, log on to www.ic.gc.ca (Industry Canada) and search for “Take Charge of Your Debts”.

How Can Mortgage Professionals and CMHC Help?

Your mortgage professional wants to establish and maintain a positive relationship with you over the long term, and is fully trained and equipped with the tools to help you deal with the temporary financial setbacks that you may be facing.

For mortgages insured by Canada Mortgage and Housing Corporation (CMHC), CMHC provides mortgage professionals with tools and the flexibility to make timely decisions when working with you to find a solution to your unique financial situation. These tools include:

• Converting a variable interest rate mortgage to a fixed interest rate mortgage in order to protect you from a sudden interest rate increase, should one occur.
• Offering a temporary short-term payment deferral. Your mortgage professional may be prepared to offer greater payment flexibilities, particularly if previous lump sum prepayments have been made, or if you have previously chosen an accelerated payment schedule.
• Extending the original repayment period (amortization) in order to lower your monthly mortgage payments.
• Adding any missed payments (arrears) to the mortgage balance and spreading them over the remaining mortgage repayment period.
• Offering a special payment arrangement unique to your particular financial situation.

CMHC is also willing to consider other alternatives proposed by the mortgage professional to resolve or avoid mortgage payment default. In every case, the options available will depend upon your individual financial circumstances.

CMHC is Canada’s national housing agency. For over 60 years CMHC has shared a wealth of knowledge and housing expertise to help create an informed and reassured homeownership experience for Canadians.

Source: CMHC

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

Not everyone’s financial situation is the same, that’s why The BestRateGuys.com works with many lenders across Canada and CMHC to provide many different financing options.  Hereunder is a list of options available and the guidelines that the lender and CMHC look for when underwriting the mortgage.

Purchase Enables homebuyers to purchase a home with a minimum down payment of 5 per cent. Apply now.

Portability
Allows borrowers to port the CMHC Mortgage Loan Insurance from an existing home to a new home and in some cases save money by reducing or eliminating the premium on the financing of the new home. Apply now.

Refinance
Allows borrowers to refinance their mortgage and use the money for any purpose other than default management. Apply now.

Improvement
Offers greater choice to borrowers who are building new homes or who want to undertake small or large scale improvements to existing homes. Apply now.

Line of Credit
Provides borrowers with more flexible repayment options than traditional mortgages. Apply now.

Self-Employed
Allows self-employed borrowers, with or without traditional forms of income verification, to realize their dreams of homeownership. Apply now.

Newcomer
Provides newcomers to Canada, with permanent or non-permanent residence status, access,to CMHC mortgage loan insurance products through Approved Lenders. Apply now.

Green Home
Provides mortgage loan insurance for the purchase of an energy-efficient home or to make energy-efficient improvements to an existing home. Borrowers may be eligible for extended amortization without a premium surcharge and a 10 per cent mortgage insurance premium refund. Apply now.

Second Home
Gives borrowers with high ratio financing a chance to buy or refinance a second home using any CMHC homeowner product, without additional underwriting restrictions or premiums. Apply now.

Income Property
Provides investors with more housing finance choice when buying or refinancing a 1 – 4 unit rental property. Apply now.

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

1. What is the home buyers’ tax credit (HBTC)?
2. How is the new HBTC calculated?
3. Am I eligible for the HBTC?
4. What is a qualifying home?
5. Who is considered a person with a disability for purposes of the HBTC?
6. If I buy a house, can my spouse or common-law partner claim the HBTC?
7. My friend and I intend to jointly purchase a home, and we both meet the conditions for the HBTC. Can we both claim the credit?
8. Do I have to register the acquisition of the home under the applicable land registration system?
9. How will I claim the HBTC?
10. Do I have to submit any supporting documents with my income tax return?
11. Is the HBTC connected to the existing Home Buyers’ Plan?
12. Where can I get more information about the new HBTC?
13. In which taxation year can I claim the HBTC?
14. If I purchase a condominium as my qualifying home in which occupancy takes place in one taxation year but the legal transfer of ownership only takes place in the subsequent taxation  year, in which taxation year can I claim the HBTC?

For 2009 and subsequent years, the HBTC is a new non-refundable tax credit, based on an amount of $5,000, for certain home buyers that acquire a qualifying home after January 27, 2009 (i.e., generally means that the closing is after this date).

2. How is the new HBTC calculated?

The HBTC is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009, the credit will be $750.

3. Am I eligible for the HBTC?

You will qualify for the HBTC if:

• you or your spouse or common-law partner acquired a qualifying home; and
• you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years.

If you are a person with a disability or are buying a house for a related person with a disability, you do not have to be a first-time home buyer. However, the home must be acquired to enable the person with the disability to live in a more accessible dwelling or in an environment better suited to the personal needs and care of that person.

4. What is a qualifying home?

A qualifying home is a housing unit located in Canada acquired after January 27, 2009. This includes existing homes and those being constructed. Single-family homes, semi‑detached homes, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes, or apartment buildings all qualify. A share in a co‑operative housing corporation that entitles you to possess, and gives you an equity interest in, a housing unit located in Canada also qualifies. However, a share that only provides you with a right to tenancy in the housing unit does not qualify.

Also, you must intend to occupy the home or you must intend that the related person with a disability occupy the home as a principal place of residence no later than one year after it is acquired.

5. Who is considered a person with a disability for purposes of the HBTC?

For the purposes of the HBTC, a person with a disability is an individual who is eligible to claim a disability amount for the year in which the home is acquired, or would be eligible to claim a disability amount, if we ignore that costs for attendant care or care in a nursing home were claimed for the Medical Expense Tax Credit.

6. If I buy a house, can my spouse or common-law partner claim the HBTC?

Either one of you can claim the credit or you can share the credit. However, the total of your combined claims cannot exceed $750.

7. My friend and I intend to jointly purchase a home, and we both meet the conditions for the HBTC. Can we both claim the credit?

Either one of you can claim the credit or you can share the credit. However, the total of your combined claims cannot exceed $750.

8. Do I have to register the acquisition of the home under the applicable land registration system?

Yes. Your interest in the home must be registered in accordance with the land registration system applicable to where it is located.

9. How will I claim the HBTC?

Beginning with the 2009 personal income tax return, line 369 is incorporated into the Schedule 1, Federal Tax to allow you to claim the credit in the year in which you acquired the qualifying home.

10. Do I have to submit any supporting documents with my income tax return?

No. However, you must ensure that this information is available, should it be requested by the Canada Revenue Agency (CRA).

11. Is the HBTC connected to the existing Home Buyers’ Plan?

No. Although some of the eligibility conditions for the HBTC and the Home Buyers’ Plan are similar, the two are not connected. Your eligibility for the HBTC will not change whether or not you also participate in the Home Buyers’ Plan.

12. Where can I get more information about the new HBTC?

The CRA encourages taxpayers to check its Web site often—all new forms, policies, and guidelines are posted there as soon as they become available.

13. In which taxation year can I claim the HBTC?

You can claim the HBTC in the taxation year in which the qualifying home is acquired.

14. If I purchase a condominium as my qualifying home in which occupancy takes place in one taxation year but the legal transfer of ownership only takes place in the subsequent taxation year, in which taxation year can I claim the HBTC?

You can claim the HBTC in the subsequent year in which your interest in the condominium (or a right in Quebec) will be registered in accordance with the land registration system or other similar system applicable where it is located.

Source: Canada Revenue Agency

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

Looking to buy your first home or negotiating your current mortgage, we have a great solution for you.  The BestRateGuys.com team is now offering a 5 year fixed rate for only 3.89%.  Don’t wait; contact us today to secure this amazing rate.  Call us toll-free @ 1-866-728-3033 or apply online.  Locking into a fixed rate guarantees the same monthly mortgage payment each time.  Have the security of knowing what amount you have to pay each month and the peace of mind knowing that you negotiated an amazing rate for your mortgage with The BestRateGuys.com. 

LOWEST RATE

APPLY TODAY

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

TORONTO - Canadian home sales picked up in January from the month before and should accelerate further before tighter mortgage rules come into effect in March, says the Canadian Real Estate Association.

About 42,379 homes were sold on CREA’s Multiple Listing Services across the country, up 4.5 per cent from the 40,558 sold in December.

While sales were down 6.6 per cent last month from a record level reached last January, the national average price rose 4.5 per cent year-over-year to $343,675.

CREA suggested the figures indicate that buyers were willing to pay premium prices to snap up a house before a March 18 deadline that will put an end to the longest 35-year amortization mortgage periods, in an effort to curb consumer debt. The changes limit amortization periods to a maximum of 30 years, making mortgage payments more expensive each month.

This year’s real estate market appears poised to reflect a slightly less distorted version of last year, when sales spiked in the early months of the year before dropping to a trough in the summer as a series of regulatory changes impacted the market.

Sales activity kicked off the year on stronger footing, led by Toronto and Vancouver. On a seasonally adjusted basis, home sales reached the highest level since April 2010, CREA said in its monthly report Tuesday.

And using last year’s market pattern as a guide, the association predicted activity will be even more robust in February.

“We anticipated the recent announcement of tighter mortgage regulations, which will come into effect this March, would pull forward sales activity into the first quarter of 2011, particularly in some of Canada’s more expensive housing markets,” said Gregory Klump, CREA’s chief economist.

“The sharp rise in sales activity in Toronto following the announcement provides early evidence confirming this.”

However, it appears that the anticipated influx of buyers into the market will be offset by a growing number of new listings, keeping the market balanced.

This January marked the first time since 2007 that new listings more than doubled in the month compared to December. As a result, seasonally adjusted new listings rose 3.9 per cent from December levels, the largest monthly gain since March 2010, CREA said, adding that it had expected more listings in early 2011 as sales and prices have been stable since last fall.

Meanwhile, the association representing some 100,000 Realtors used the opportunity to warn the government that it should hold off on additional tightening measures to curb mortgage debt until the impact of the most recent changes are known.

“It will take some time before the longer-term impact of the latest mortgage regulations on the housing market can be known,” said CREA president Georges Pahud.

“For that reason, further action shouldn’t be taken until the impact can be measured,” he said in a release.

A powerful driver of economic recovery, the real estate market kicked off last year on a tear as buyers rushed into the market in advance of higher interest rates, new mortgage rules and a new harmonized tax regime in two provinces.

Some reports have warned that when interest rates rise, which many economists expect in the middle of this year, Canada’s real estate market could tank.

In the gloomiest report to date, Capital Economics analyst David Madani said earlier this month that house prices were just a few interest rate hikes away from a 25 per cent correction over the next three years.

Source: Metro

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

Not sure? If insured through CMHC, you can work out the mortgage loan that you can afford, with just a few simple calculations. If you don’t know how much your monthly mortgage payment might be, you can use our mortgage calculator to determine the likely monthly payments (principal + interest) associated with different house prices at different interest rates.

The following calculations will help you determine how much you can afford. Your mortgage lender or mortgage broker will make these and other calculations when evaluating your unique situation. Ask them about being pre-approved for a CMHC-insured mortgage to avoid any surprises. You can also do the following exercises to find out where you stand.

Calculating Gross Debt Service (GDS)

This is a way of estimating the maximum home-related expenses you can afford to pay each month. To qualify for CMHC insurance, the total should not exceed 32% of your gross monthly household income.

• Calculate your GDS

Calculating Total Debt Service (TDS)

This enables you to estimate the maximum debt load you can carry each month. It should not exceed 40% of your gross monthly household income.

• Calculate your TDS

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

• The home is located in Canada.
• You will typically have a down payment of at least 5% of the purchase price of the dwelling, depending on the dwelling type.
  • Single-family and two-unit dwellings (5% minimum down payment)
  • Three- or four-unit dwellings (10% minimum down payment)
• Normally, the minimum down payment comes from your own resources. However, a gift of a down payment from an immediate relative is acceptable for dwellings of 1 to 4 units. For eligible borrowers, additional sources of down payment, such as lender incentives and borrowed funds, are also permitted. Check with your lender for qualifying criteria and availability.
• Your total monthly housing costs, including Principal, Interest, property Taxes, Heating (P.I.T.H.), the annual site lease in the case of leasehold tenure and 50% of applicable condominium fees, shouldn’t represent more than 32% of your gross household income (Gross Debt Service (GDS) ratio). Use the GDS form to calculate how much you can afford in housing costs to be eligible.
• Your total debt load shouldn’t be more than 40% of your gross household income. The Total Debt Service (TDS) ratio is your P.I.T.H. + the annual site lease in the case of leasehold tenure and 50% of condominium fees (if applicable) + payments on all other debt / gross annual household income. Add up your costs and determine your Total Debt Service ratio using the TDS form.
• You also need to think about closing costs (for example, legal and land transfer fees) equivalent to 1.5% to 4% of the purchase price. Many first-time buyers are surprised by these costs. That is why, when qualifying for CMHC’s Mortgage Loan Insurance, ourHome Purchase Cost Estimate worksheet form will help you calculate your total homebuying costs.Closing costs include but are not limited to one-time items such as lawyer fees, GST and PST as applicable, land transfer tax if applicable, adjustments, etc., to allow you to complete the house purchase.
• Other requirements may apply and are subject to change. For details, please contact your lender or mortgage broker.

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