40 year amortizations can reduce the number of years it takes to pay off a mortgage by utilizing the full range of available pre-payment options. The 40 year mortgage amortization period reduces a borrower’s monthly payment, enabling more buyers to afford a home of their own and increasing the choices available to them. For example, buyers could save as much as $190 per month on a $200,000 loan at 6% interest, to $1,090 from $1,280 on a 25 year mortgage.
This new program is applicable for:
- Refinancing for repayment of debt, renovations and asset enhancing
- Equity takeouts up to $200,000
- Fixed, variable and adjustable rate mortgages *
- New construction or existing properties to a maximum of 4 unit complexes where at least 1 unit is owner occupied
- Home purchases
About Genworth
Genworth Financial Canada , formerly GE Mortgage Insurance Canada is the country's only private sector supplier of mortgage default insurance. Together with related affiliates, Genworth is the largest private sector mortgage default insurance company in the world.
What They Do
For the past 10 years Genworth Financial has been helping Canadians realize the dream of buying a home. Mortgage default insurance helps home buyers buy a home with little (less than 25%) or even no down payment . It also helps current homeowners upsize their home - or renovate their existing home - at less cost.
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About -- Dreyer Group Mortgages Inc. a Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. Being an independent brokerage, we are not restricted to one financial institution’s products. We access over 50 lenders coast-to-coast, shopping the market to provide the best in financing solutions.
For more information or to arrange an interview, please call:
Jared Dreyer, President and Accredited Mortgage Professional
Dreyer Group Mortgages Inc.
604 649-5991
(A member of the VERICO brokers network)
