Home Mortgage Rates

Term Rate
Prime 3.00%
Variable 2.90%
1 Year 2.89%
3 Year 2.89%
4 Year 3.19%
5 Year 3.19%
10 Year 3.99%

Qualifying Rate

Feb 22 5.14%

Current Inflation

Jan 2.5%

5 Year Bond Yield

Feb 22 1.49%

Next Bank of Canada Meeting
Mar 8th, 2012

Special conditions apply
Mortgage Rates subject to change.

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Commercial Mortgages

Commercial Mortgage Lending

  • Commercial mortgages for:

    • Office buildings
    • Industrial buildings
    • Apartment buildings
    • Shopping centres
    • Hotels
  • Construction mortgages
  • Land development mortgages
  • Land acquisition mortgages

 

Private (Commercial) Lending guidelines:

Mortgage Type:

  • First mortgages
  • Second mortgages


Eligible Properties:

  • Single family dwellings
  • Townhomes
  • Condominium units
  • Acreages
  • Building lots
  • Commercial and industrial units


Eligible Locations:

  • Metro Vancouver and Fraser Valley Regional District


Loan Amounts:

  • $50,000 to $2,000,000


Loan to Value:

  • Mortgages will generally not exceed 75% of the appraised value


Lending (typical) Fees:

  • 1.0% – 2.0%


Interest Rates:

  • First Mortgages 8 – 11%
  • Second Mortgages 12 – 14%


Terms:

  • Generally one year term with flexible prepayment options


Appraisals:

  • A current appraisal will be required with every mortgage application, with some exceptions


 

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