Mortgages in Oshawa
Oshawas Mortgage Expert
With over 15 years of experience in residential and commercial mortgages we know the solution.
We have the expertise to assist you in finding the right mortgage product for your needs.
We understand the importance of moving quickly and getting you a quick approval.
We keep you updated through the entire process from application all the way approval!
Frequently Asked Questions
Despite popular belief, and a lot of vendor marketing, the advantages in weekly vs. monthly payment frequency is slight. It is not really the frequency that makes a big difference but how much you pay. Any extra payment towards your principal dramatically improves your amortization period. Think payment amount not frequency of payment.
A mortgage for more than 80% of the property value. Whenever you need a mortgage loan that is greater than 80% of the current market appraised value of your home it is considered a high ratio or insured mortgage. If you are a first time home buyer then you can borrow up to 95% value and only need to come up with a 5 percent minimum down payment provided that the value of the property is $500,000 or less. If the property value is more than $500,000 then the minimum down payment is 10 percent. The Canada Mortgage and Housing Corporation (CMHC), Genworth and Canada Guaranty insures the lender in case you default on your loan.
The purpose of a pre-approval is to confirm in writing the maximum amount of money that you can rely on for mortgage purposes. When interest rates are fluctuating, it’s an advantage to know what your borrowing limit is before you start house hunting. With a pre-approval, a lender will guarantee you for a specific mortgage amount for a period of time. If the mortgage interest rate drops before the lender advances the funds for a mortgage, you are given the lower mortgage rate. If the rates rise, you are given the rate at the time you had the mortgage pre-approved.
The Mortgage Specialist in Oshawa
321 Mortgages Approved
Years of Experience
What our customers are saying!
“The team at Capital Connections got us approved for our commercial mortgage quickly. We highly recommend them to our friends and family!”
“We highly recommend Clayton at Capital Connections. We moved quickly and efficiently to get us approved for our private mortgage. Thank you very much!”
We were amazed by how little effort was required on our part to have Capital Connections complete our mortgage application. We couldn’t of been happier!