Why is my neighbours kid GETTING A BETTER MORTGAGE RATE than me?

• Why is my neighbours kid getting a better mortgage rate than me? I have a strong downpayment, good credit and income- it doesn’t make sense? In this episode find out what factors play into the interest rate you receive
• Introduction of B20 Guidelines by OSFI in 2018 and its impact on the mortgage industry.
• Explanation of the three mortgage categories: insured, insurable, and uninsurable.
• Impact of the B20 guidelines' stress test on uninsured mortgages.
• Average rates for the three mortgage categories for a 5-year term in todays marketplace.
• Explanation of risk-based pricing and the impact on insurable mortgage rates.
• Role and benefits of Monoline lenders in Canada.
• Comparison of payments for insured, insurable, and uninsurable mortgages using a $700,000 purchase example.
• Importance of consulting with a mortgage professional for individual case assessment.
• Explanation of higher rates for uninsurable mortgages due to increased risk and other factors.
• Options when securing a mortgage rate
• Overview of the mortgage stress test and debate over its continued relevance.
• Discussion on the other types of mortgages and services offered by the podcast guests.

For more information you can check out or BLOG at https://www.realtybytes.ca/blog

Contact information:
Corina Murphy | Mortgage Broker | Team Lead
Premier Mortgage Centre
416-884-1428
[email protected]

Evelyn Lopes | Realtor | Team Leader
The Evelyn Lopes Realty Team | iPro Realty Brokerage
905-965-5902
[email protected]