If you are a First Time Homebuyer afraid you wont be able to enter the housing market with the new mortgage rules, fear not.
This is actually an opportune time to take advantage of the historical low mortgage rates and negotiate better prices on housing, especially in the condo/townhome market. While many feared this market would be the most negatively affected, take a look at these numbers to help put it in perspective:
2007 40 years of amortization (the longest you could get at the time) at an average interest rate of 5.71% - $350,000 = $1,831* would have been your monthly mortgage payment.
2012 25 years of amortization at an average interest rate of 3.29% - $350,000 = $1,704* monthly mortgage payment.
Right away, you'll notice a truly substantial savings in that you'll pay your mortgage off 15 years earlier and approximately $330,000 in interest that would have developed over the 40-year amortization.
For more information on First Time Homebuyer Programs, click here
Call my office now to find out how much you qualify for. If you are not a first time homebuyer and would like more information on your mortgage financing options, we are happy to help.
Please Call 604 649-5991
Jared Dreyer - Dreyer Group Mortgage Team
Your Mortgage Professionals
About Dreyer Group Smiles
Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.
Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.
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REFINANCING RATES or
NEW HOME PURCHASE
2.99 % 5 Year Fixed Rate
3.89% 10 Year Fixed Rate
All rates quoted are on approved credit.