Traditional
Traditional mortgages are typically 1- 5 and 10 year terms with a 25 year amortization. They are portable (which means that you can take them with you to your next property to avoid penalties) and assumable (which means that someone else can take over the mortgage).
Variable Rate Mortgage
In this mortgage, the interest rate is attached to the Prime lending rate. When Prime moves up or down, the payments or the amortization will also go up or down. With this type of mortgage, payout penalties are much less than "Traditional" products. A Variable Rate Mortgage may be converted to a fixed mortgage at any time at no cost. When you become a client of this type of mortgage, Mortgage Connection will always keep you informed of when we feel you should "lock in".
Zero Down Payment or 100% Financing
No down payment is required with this type of mortgage. You may pay a slightly higher interest rate, than other products, for this convenience, however it may be the right fit for you.
Cash Back
You can receive up to 5% of the mortgage amount in cash that can be used for anything when you get a Cash Back mortgage. Ask us how!
Debt Consolidation
If you have some equity in your home, but large credit card bills, you may want to consolidate. Ask us about your options.
Renovation Mortgage
Do you have some equity in your home? Would you like a loan to renovate and increase the equity in your property as a result of your renovation? Ask us how we can accommodate you.
Lower Mortgage Rate (Transfer)
If your mortgage rate is over 6% or up for renewal soon, you may want to consider transferring your mortgage to a new lender in order to benefit from a lower monthly payment or a shorter amortization period.
First Time Home Buyers
Between October 1 and February 29, you can buy a house with the Government’s money. If your previous year’s RRSP contribution limit is over $10,000, there is a valuable exercise available through Revenue Canada that will create a tax rebate to you. The tax rebate could add up to as much as the required minimum down payment on a home.
Example: Minimum down payment for a $100,000 purchase is $5,000. A tax rebate on a RRSP contribution of $15,000 will be $5,000 for qualified workers. The cost of this 91 day exercise will be approximately $250 which represents the cost of borrowing the $15,000 for 90 days. This program has 9 explicit steps that our Mortgage brokers can assist you with to make it easy for you to buy your first home.
Refinancing
Take advantage of the equity in your home to consolidate debt, buy a new car, renovate a property or make an investment by refinancing your property or home. Some renovations are even tax deductible (for revenue properties). Ask us how !
US Citizens & Foreign Investors
With a 35% down payment, US Citizens & Foreign Investors can invest in Canadian property and mortgage up to 65% of its value. See
currency converter here.
Rental property
We can customize a mortgage package for you to create positive cash flow from a rental property and invest in a growing asset. Using the equity in your home and a simple refinance, you can expand your investment options and even save taxes.
Big White
Owning a property at Big White has never been easier. Buy recreational property for personal use and you can mortgage up to 90% of the property purchase price while still maintaining your first home in town.
Real Estate Development Projects
If you are a developer, we can create a customized mortgage for your clients! For example…Excite Homes at Kettle Valley offers their clients the "Exciting Mortgage" that we created just for Excite Homes. This mortgage featured no payments for one year and the balance owing paid off over 24 years.
Private Mortgages
If you have money that you’d like to invest, or equity in your home, consider investing it in mortgages. Returns average 14% per year. Your investment is secured by the increasing value of real estate.
Mortgages For Self-employed Individuals
If you are successfully self-employed, we can help you obtain financing for your property (residential or commercial). Even if the bank turns you down, come and see us. We have more flexibility than most banks and we understand how to extract your best financial information from your balance sheet. We can help you obtain financing to expand your home office, or simply buy a home that is convenient to your work and lifestyle.
Seasonal Employee Mortgage
Seasonal employees deserve mortgages too! That’s why Mortgage Connection has created this mortgage package for you. Contact us to find out how you can live in a comfortable home year round, even if you work for part of the year.
Marital Realignment Mortgage
Sometimes marital situations change. Whether you are experiencing the loss of your partner through death or divorce, you may want to consider buying something for yourself, or buying someone out. Come and see us first, so we can create as many options for you as possible.