Home Purchase

There are a few milestones in life you’ll remember forever - your first kiss, your first car and even buying your first home. For most of us, obtaining a mortgage is a necessary part of purchasing a home, but it doesn’t have to be stressful, and getting the right mortgage on the right terms can save you tens of thousands of dollars over the length of the loan.

Fixed Mortgage Rates

With a fixed rate mortgage your interest rate and monthly payment stay constant for the entire duration of the loan. Fixed rates are popular because they protect home owners from the possibility of future rate increases, unlike variable and adjustable rate mortgages.

The two most popular fixed rate durations are 15 year and 30 year terms. Because 15 year terms are shorter and less risky for lenders, they tend to have lower interest rates than 30 year fixed rate mortgages.

Home Refinancing

Here at, we want you to own your home outright as soon as possible. That means paying off your mortgage as quickly as you can! In many cases, refinancing your home is a great way to get there, because you’ll be replacing your old mortgage with a new one at a lower interest rate. And, with interest rates at historic lows, there’s probably never been a better time to refinance your mortgage. It could be a valuable step for those looking to pay off their home loan sooner.

Variable Mortgage Rates

Variable mortgage rates rise and fall, or “float” based on whatever index they follow. Some variable rate mortgages follow the London Inter Bank Overnight Rate, or LIBOR, while others follow the Fed Funds Rate or treasury yields. Variable mortgages usually offer lower interest rates than their fixed rate counterparts but they also pose a much greater interest rate risk to borrowers. Should interest rates rise, borrowers could face an increase in their monthly payments.

VA Mortgages

This type of mortgage is insured by the Department of Veterans Affairs. VA mortgages are only available for U.S. military veterans and current or surviving spouses, and only then from VA approved lenders.

VA loans are designed to make homeownership more affordable for our military men and women. Because they are guaranteed by the government, VA loans usually have much lower interest rates and only require a small downpayment.

Adjustable Mortgage Rates

Most lenders offer a product called fixed-period or hybrid adjustable rate mortgages(ARMs). While these products can seem complicated at first, they really aren’t on closer inspection.

An adjustable rate mortgage(ARM) generally features an initial fixed interest rate period, typically lasting 3, 5, 7 or 10 years. Once the fixed period expires, the interest rate then becomes adjustable for the remainder of the loan term.

FHA Loan

If you’ve ever looked into getting a mortgage, you’ve probably heard of an FHA loan. This type of home loan is insured by the Federal Housing Administration (FHA). In the event of a default by the borrower, the lender’s claim is guaranteed by the federal government. This in turn allows lenders to provide mortgages to riskier borrowers and on better terms than would otherwise be possible. FHA loans usually require smaller downpayments and charge lower interest rates than regular mortgages taken out on the open market.

Reverse Mortgage Rates

Mortgage payments take on a whole new meaning with a reverse mortgage.

If you’re 62 or older and require funds for retirement, to pay off debts or to cover important needs like healthcare, then a reverse mortgage may be for you. Unlike a regular mortgage, where you pay your lender in monthly installments, in a reverse mortgage you actually get a cheque from the bank every month!

Jumbo Mortgage Rates

Go jumbo or go home – that’s the phrase used in America’s most expensive housing markets.

Also called nonconforming loans, a mortgage is considered jumbo if it exceeds the conventional conforming loan limits set by government sponsored housing entities Fannie Mae and Freddie Mac. These vary from state to state and city to city, but the standard limit is $417,000. Loans above the limit are not eligible for purchase by these entities and must be held directly by the financial institutions themselves.

Second Mortgages

Sometimes one mortgage just isn’t enough, and at we’ll make sure you find a great second mortgage to fulfill your unique financial needs.

Open vs. Closed Mortgages

There are some crucial decisions to be made in the process of buying a new home, and when you’re looking to secure a mortgage, there are some important questions you need to answer. Besides deciding between a fixed or adjustable rate mortgage, you also need to choose either an open or closed mortgage. Each offers specific advantages to the homebuyer, and has all the information you need to help you decide which one is right for you.