Fast Lend Mortgages

09/16/2024

Breaking news: Govt of Canada announced relaxed mortgage rules to be effective December 15th 2024.

1. CMHC will insure mortgage for purchases up to $1.5 MM. This allows buyers to purchase homes (at lower interest rates) by making down payment of less than 20%, by paying default insurance premium.
2. The lenders can offer 30years amortization to all first-time buyers and yo buyers who are buying newly built homes from builders.

If you have questions regarding mortgage programs or your eligibility, feel free to contact us at 647-865-7799

05/25/2021

Planning to settle down to your favorite city while transition from work permit to permanent residency, talk to us to know if you are eligible to end your tenancy and start owning your own property

05/25/2021

New to Canada Program
Down payment:
Minimum 5% down payment from borrower’s own resources.
Remainder if required, may be gifted from an immediate family member.

Job and Income:
Valid Work Permit or Permanent Residency required
Verifiable Income required to service debt
No Probation.
Credit and Trade References:
Non- Canadian Credit can be accepted.
Alternative Trade references may be required. for e.g cell phone bill, Referential letter from Financial Institution.
Property Value:
Minimum property value $75,000.
Maximum property value below $1,000,000.
Rates: 5 Year Variable starting @ 1.39%

03/13/2021

When you plan to invest in Pre-Construction project, it is important to have someone work for your interest.
Consulting with your Lawyer or expert from reputed Real Estate Agency, can help you understand the risks embedded in Builders purchase agreement.

Dozens of pre-construction buyers are in limbo after finding out their developer transferred the Richmond Hill, Ont., project's land to another company last summer and the new owner is refusing to honour their existing purchase agreements.

03/12/2021

Overnight rates managed by Bank of Canada were left unchanged as announced by BoC in latest press release.
This often used to interpret movement of variable rates for mortgages, therefore, the news provide clarity for borrowers contracted in variable interest rate products

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) pro...