Cheryl Daiken, Mortgage Agent Level 2

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Cheryl Daiken, Mortgage Agent Level 2

As a Mortgage Agent, I find the best rate and product for you. Saving you time, energy and money.

Whether you are purchasing a new property, refinancing your existing or transferring your current mortgage, I can help.

26/09/2024

Mortgage stress test requirements to be lifted on straight switches to another lender at renewal!

Contact me if you would like more information

24/07/2024

Bank of Canada cuts interest rate by 0.25% to 4.5%.

05/06/2024

Bank of Canada cuts rate!

The rate cut came as annual inflation has cooled significantly from decades-highs in 2022, when the Bank of Canada’s tightening cycle began.

05/06/2023

Cheryl Daiken
Mortgage Agent Level 2, M21000715 | Alternative Lending Specialists| Ontario Lending Solutions Inc. | FSRA 13063
TEL: 289-775-9156 | [email protected]
www.ontariolendingsolutions.com

15/05/2023

https://www.canadianmortgagetrends.com/2023/05/high-interest-rates-have-borrowers-anxious-about-their-mortgage-renewal-what-can-they-do/

If your mortgage is coming up for renewal there are ways to help lessen the impact and manage your cashflow.
If you need some advice, I can help. Call me at 289-775-9156 or email [email protected]

After a series of rate hikes, many of Canada’s variable rate mortgage holders are feeling the pain, and fixed-rate borrowers aren’t faring much better.

07/03/2023

Cheryl Daiken
Mortgage Agent Level 2, M21000715 | Alternative Lending Specialists| Ontario Lending Solutions Inc. | FSCO 13063
TEL: 289-775-9156

03/03/2023

https://www.canadianmortgagetrends.com/2023/03/nearly-three-quarters-of-cibcs-variable-rate-clients-have-reached-their-trigger-rate/

If you are in a variable rate mortgage with fixed payment, you have likely hit the trigger rate where your payment is only servicing interest and any portion not covered is being added back to the principal remaining.
Upon renewal you may see a large increase in your payment to meet your contract obligations, this is because "At renewal, CIBC mortgages revert to the original amortization schedule" combined with current higher rates.
To avoid the payment shock upon renewal there are steps you can take now to reduce the impact. If you would like more information, give me a call 289-775-9156

Over 70% of CIBC's variable-rate customers are seeing all of their mortgage payments go towards servicing interest costs.

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https://ontariolendingsolutions.com/

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