Today's Prime Rate: 2.25%
Closed Variable: Prime - .30
Open Variable: Prime + .80%
TermOur Rate
6 Month Closed4.60%
1 Year Closed2.30%
2 Year Closed2.90%
3 Year Closed3.25%
4 Year Closed3.69%
5 Year Closed3.69%
6 Year Closed4.69%
7 Year Closed4.95%
10 Year Closed5.20%





"This was the first time I was purchasing a home and Dan made the process simple and as easy as possible. He answered all my questions in a timely manor and made sure I was satisfied. I would recommend Dan to anyone who is looking for a mortgage broker. Thanks for everything you have done and for being so patient with me."

Julie L.
Calgary, Alberta
Free Down Payment Mortgages    


If you do not have a down payment but have excellent credit, you may qualify for a purchase with zero down payment.

 

Down payment: The bank will advance 5% of the property lending value to the solicitor on the funding date, in addition to the mortgage advance.

 

Mortgage insurance premium: 2.90%

 

Eligible properties

  • New (completion only) or existing properties

  • Purchase transactions, single family unit and duplexes

  • Owner occupied single family unit and duplexes

  • Type A properties under the bank's secondary home policy

 

Maximum loan-to-Value Ratio

  • 95%, plus mortgage default insurance premium

 

Borrower qualifications

  • Applicants must meet the bank and CMHC and / or Genworth lending and credit criteria

  • Maximum number of borrowers on each application is two

  • Third-party borrowers and non-occupying gaurantors / co-borrowers are not eligible

  • Minimum credit report score of 680

 

Equity requirements

  • Borrowers must have, from their own resources, liquid assets of 1.5% of the purchase price to cover closing costs (1% for Genworth insured in Alberta only). These funds should be in place at time of application approval, and cannot be from employer relocation / benefit programs, provincial grants, gifts etc

  • The 5% down payment and amount cannot be included as part of the applicants assets on the application

 

GDS /TDS Ratio

  • CMHC Insured: GDSR N/A, TDSR 44%

  • Genworth Insured: GDSR 35%, TDSR 42%

 

Preapprovals:

  • Subject to meeting all lending and credit criteria.

  • Subject to insurer approval of the property and the borrower(s)

 

Payment frequencies

  • Monthly, weekly, bi-weekly and semi-monthly

 

Prepayment privileges

  • 15% + 15% prepayment

  • Match a payment option

 

Payout penalties

  • Standard payout terms apply

  • Free down payment clawback applies if paid out before expiration of term or if mortgage is assumed, paid out or reduced, by an amount in excess allowable each year under the bank's standard prepayment options, transferred, rate blended, or renewed prior to the expiry of the original term

 

Exclusions

  • Fixed rate terms of less than 5 years

  • Purchase transactions involving multiple advances (including purchase plus improvements) or secondary financing

  • Properties containing 3 or more units

  • Non-purchase transactions (refinance or switches)

  • Self employed program

  • New to Canada program

  • Secondary home program

  • Rental property program