March 3, 2021
The different types of mortgages available in the Canadian Mortgage Market offer a great variety of solutions to a borrower. The right kind of mortgage selection is, where a Mortgage Broker can help you with. Based on mortgage rates and repayment options, primarily there are the following 6-kind of mortgages Conventional Mortgages High Ratio Mortgages Open Mortgages Closed Mortgages Fixed-Rate Mortgages Variable Rate Mortgages (VRM) / Adjustable Rate Mortgages (ARM) Conventional Mortgages A mortgage where the down payment is equal to 20% or more of the property’s value/purchase price. A low-ratio mortgage does not normally require mortgage protection insurance. High Ratio Mortgages A high ratio mortgage is […]