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Savvy Borrowing for DND / Canadian Forces

Did you know that when it comes to your mortgage options as an honoured Canadian Forces Member, not all lenders offer the same options and perks?

As a mortgage expert, Caroline works with a wide selection of lenders and knows who offers what perks...let her make it easy for you!

If you are relocating, consider buying down your mortgage rate

…if your relocation package includes funds that can be applied to a mortgage rate buy-down, it can have an impact on your mortgage.

Example: 
$500,000 mortgage with 5 year term. Monthly payments & 30 year amortization.  Using a typical lender’s rate buy-down cost calculation from 3.2% to 3% 3.2%= $4,322.11 cost

3.20%

3%

Difference

Payment P&I

$2,156.56

$2,103.01

$53.55

Balance Due

$455,969.45

$444,381.24

$11,588.21

Total Paid

$129,393.60

$126,180.60

$3,213.00

Interest Paid

$75,368.05

$70,561.84

$4,806.21

Principal

$54,030.55

$55,618.76

$(1,588.21)

Update: effective July 2012, 30 year amortizations for insured mortgages (e.g. if you have less than 20% down), are no longer available with many lenders due to changes in Canadian Mortgage Regulations.

Choose a lender and mortgage that fits your lifestyle and honours Canadian Forces.

Examples:

  • Can you port the mortgage to all provinces & is that
    port feature good for 120 days? Can it be rolled-over?

  • Does the lender offer military personnel a special exception on penalties if you are transferred?

  • Does the lender require you to open a bank account
    or not?

  • If you have poor credit, do they have creative
    solutions?

CAROLINE WILL do the work* to find you a suitable
mortgage! Call 800-757-0412 or text 250-415-9555

*Did you know most mortgage broker services are free?

E & OE. O.A.C. RATES SUBJECT TO CHANGE WITHOUT NOTICE


SPECIAL OFFER TO DND MEMBERS... "THANK YOU"

Receive a $100 RONA gift or or for a different local venue (Imax, museums, restaurants etc.)…upon successful funding of your mortgage via Caroline.

This is Caroline’s way of expressing her heartfelt  appreciation for your service to our country.