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15 Feb

To The Borrowers Who Got their Mortgage In 2023


Posted by: Peter Paley

Did you get your mortgage last year?  Are you in a Fixed Rate Term over 5.5%, maybe even over 6%?   Are you worried that you may have a very high penalty?

I’m writing this post today to tell you that you may be able to get out of your existing mortgage with a 3-month interest penalty, or a small IRD (interest rate differential).  This works particularly well if you have a mortgage that is insured with CMHC/Sagen/Canada Guaranty because you can transfer your mortgage to a new lender with a rate very near 5% –  In almost all cases a 0.5% – 1.2% rate reduction can save a staggering amount of money.

Here’s what we can offer:

  1. A lower rate that can save you $1000s
  2. Complimentary legal work through FCT or FNF Canada (The lender will cover these costs)
  3. We can include up to $3,000.00 of your penalty into the new mortgage.

Contact us today for a complimentary consultation!

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