Mortgage Stress Test
How does the Mortgage Stress Test affect you Approximately in 2016 the mortgage stress test rules were introduced. Since then, it has become harder for… Read More »Mortgage Stress Test
mortgage stress test
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- First Time Home BuyersWhy rent when you can own your own home, is a common question asked by many. At Trusterra Mortgage we can help you get approved with the right mortgage. Trusterra Mortgage has access to multiple mortgage products designed to help each home buyer with their unique mortgage related needs. Whether you are a salaried first time home buyer, or a self employed first time home buyer there are mortgage solutions that can be right for you. Let Trusterra Mortgage be your trusted adviser with all your mortgage related questions. First time home buyers with strong credit history and provable income can purchase their first home with as low as 0% down payment in selected cities. Otherwise with as low as 5% down payment your fist home can be within reach. Contact Us for details and to start the mortgage approval process.
- Fixed Rate MortgagesFixed rate mortgage solutions are available if you’re happy with current rates and don’t want to keep monitoring where they may go. The fixed rate mortgage interest rate is locked during its term of contract. Your payments are set in advance for the term, giving you the security of knowing how much your payments will be during the entire term. Fixed rate options are possible in the following closed terms: – 1, 2, 3, 4, 5, 6, 7, or 10 years. – 6 months. We can make your experience of attaining a mortgage easier and convenient. We are able to help you with the mortgage requirements, so you can apply for financing with certainty. We are committed in providing you with the service, competitive rates, and flexible mortgage options that best meet your needs and current financial and credit situation. For your convenience, we can arrange your financing in the comfort of your own home or office. Please contact us to discuss details.
- Variable Rate MortgagesVariable rate closed and open mortgages are available, allowing you to take full advantage of mortgage interest rate fluctuations. You can lock into a fixed rate at any time. Closed Variable interest mortgage is available in a 5 year term. Open Variable interest mortgages are available in the following terms: – 5 years – 1 year We can make your experience of attaining a mortgage easier and convenient. We are able to help you with the mortgage requirements, so you can apply for financing with certainty. We are committed in providing you with the service, competitive rates, and flexible mortgage options that best meet your needs and current financial and credit situation. For your convenience, we can arrange your financing in the comfort of your own home or office. Please contact us to discuss details.
- Self-Employed MortgageMortgage solutions are available for self-employed, and commission based individuals who cannot provide traditional forms of documentation to confirm income. We can make your experience of attaining a mortgage easier and convenient. We are able to help you with the mortgage requirements, so you can apply for financing with certainty. We are committed in providing you with the service, competitive rates, and flexible mortgage options that best meet your needs and current financial and credit situation. For your convenience, we can arrange your financing in the comfort of your own home or office. Please contact us to discuss details.
- Rental Property MortgagesMortgage solutions are available for borrowers in need of financing to purchase rental properties. – Single family dwellings, up to and including 4 units. – Owner-occupied or non-owner occupied rental properties, up to and including 4 units. – Up to 95% of appraised value for purchase or refinance up to 2 units. – Up to 90% of appraised value for purchase or refinance for 3-4 units. – Maximum amortization: up to and including 80% = 40yrs, above 80% = 35yrs. Note: Some conditions and limitations will apply to the above mentioned products as per lender and insurer guidelines ….please contact us to discuss details. We can make your experience of attaining a mortgage easier and convenient. We are able to help you with the mortgage requirements, so you can apply for financing with certainty. We are committed in providing you with the service, competitive rates, and flexible mortgage options that best meet your needs and current financial and credit situation. For your convenience, we can arrange your financing in the comfort of your own home or office.
- Construction MortgageMortgage solutions are available for customers purchasing land or requiring equity take-out on land for construction of a residential or cottage or leisure property. – Funds are received at various stages of construction completion of the property. – A first advance is available to assist with the purchase of a building lot or as equity take-out when the lot is already owned. We can make your experience of attaining a mortgage easier and convenient. We are able to help you with the mortgage requirements, so you can apply for financing with certainty. We are committed in providing you with the service, competitive rates, and flexible mortgage options that best meet your needs and current financial and credit situation. For your convenience, we can arrange your financing in the comfort of your own home or office. Please contact us to discuss details.
- New to Canada MortgageMortgage solutions are available to applicants: 1) Who have relocated to Canada within the last 10 years. 2) Who do not have Canadian credit history. 3) Who do not qualify following standard adjudication requirements but have good down payment from own resources. We can make your experience of attaining a mortgage easier and convenient. We are able to help you with the mortgage requirements, so you can apply for financing with certainty. We are committed in providing you with the service, competitive rates, and flexible mortgage options that best meet your needs and current financial and credit situation. For your convenience, we can arrange your financing in the comfort of your own home or office. Please contact us to discuss details.
- Non Resident MortgagesMortgage solutions are available for non-resident applicants under the following categories: Temporary Residents 1) Non-permanent residents of Canada. 2) Temporary residents to Canada, such as foreign workers with valid work visas. U.S. Residents 1) U.S. Residents can obtain uninsured mortgage financing for a second home or vacation property. 2) A good down payment is preferred from own resources, and an ability to repay loan amount. 3) Standard U.S. withholding tax policies apply. We can make your experience of attaining a mortgage easier and convenient. We are able to help you with the mortgage requirements, so you can apply for financing with certainty. We are committed in providing you with the service, competitive rates, and flexible mortgage options that best meet your needs and current financial and credit situation. For your convenience, we can arrange your financing in the comfort of your own home or office. Please contact us to discuss details.
- SWITCH ON / RENEW Your Mortgage and SAVEWant a better deal on your mortgage? Want a better interest rate? Want to pay down your mortgage faster? Want more money in your pocket? . . . then you’ve come to the right place! Benefits of SWITCHING your mortgage: Minimal cost to you Competitive rates Highest flexible prepayment features to reduce your mortgage faster Ability to skip a payment annually No legal fees to SWITCH We’ll cover up to $200 of the appraisal fee should there be any We’ll cover up to $200 of your existing bank’s discharge fee to SWITCH your mortgage Ask us about the None-Income qualifier switch. You may be eligible to switch your mortgage without confirming income. You’re probably thinking it’s not worth it because you have to pay a penalty to break your mortgage. Well, many times people don’t know, but even after paying a penalty, [we will consult with you first to make sure it’s to your advantage to break it] you can still get a better deal when SWITCHING your mortgage. Contact Us to get switching. *NOTICE – The switch mortgage is per the qualifying guidelines of the lending institution, and subject to change without notice.
- First Time Home Buyers
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- Land Acquisition and Development
- IndustrialAreas Covered: Financing is available for the purchase of industrial real estate in most geographic locations within Canada (urban centres preferred). Purpose of Loan: Acquisitions, refinance, existing debt, capital improvements, and new construction. Note: Some conditions and limitations will apply to the above mentioned products as per lender and insurer guidelines ….please contact us to discuss details.
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- Multi-Unit Affordable HousingThree levels of affordability have been identified by CMHC.The criteria for each are as follows: Level 1 • Self-contained apartments: majority of rents in the project are below the 80th percentile*. • Retirement facilities (facilities providing shelter and support services): majority of rents in the project are below the 80th percentile* for the same project type and service level in the market. • Licensed care and special purpose facilities: majority of the beds are receiving per diem subsidies aimed at reducing shelter costs and term of subsidy is less than the amortization of the mortgage. • Single room occupancy: majority of the units in the project rent for less than 60% of the median rent for one-bedroom units in the market. Level 2 • Self-contained apartments: majority of rents in the project are below the 65th percentile*. • Retirement facilities (facilities providing shelter and support services): majority of rents in the project are below the 65th percentile* for the same project type and service level in the market. • Licensed care and special purpose facilities: majority of the beds are receiving per diem subsidies aimed at reducing shelter costs and term of subsidy is equal to the amortization of the…
- Rental Property Energy-Efficient MortgageReceive 10% Mortgage Insurance Premium Refund. – Applied to total premium paid, including surcharges – Refund paid by CMHC directly to the borrower – Program applies to rental properties, retirement homes and long-term care facilities (not condominium) – New Construction or Retrofit of existing building. Note: Some conditions and limitations will apply to the above mentioned products as per lender and insurer guidelines ….please contact us to discuss details.
Property Types Financing is available for loans to purchase, construct, or refinance a 5+ multi-unit residential property. – Rental buildings up to 85% of the lending value. – Licensed care facilities and retirement homes up to 85% of the lending value. – mixed use properties with non-residential components not to exceed 20% of the gross floor area or total lending value – student housing – condo construction loans – Increase the lending limit on your property, and consequently enhance the return on your investment. – Obtain mortgage financing up to 85% of the value of the property (no maximum dollar amount). As a result, you will need less equity to purchase a rental property. Note: Some conditions and limitations will apply to the above mentioned products as per lender and insurer guidelines ….please contact us to discuss details. Additional Available Products Rental Refinance Non-Recourse Energy-Efficient Mortgage Affordable Housing Mortgage - Multi-Unit Affordable Housing
- OfficeAreas Covered: Financing is available for the purchase of office real estate in most geographic locations within Canada (urban centres preferred). Purpose of Loan: Acquisitions, refinance, existing debt, capital improvements, and new construction. Note: Some conditions and limitations will apply to the above mentioned products as per lender and insurer guidelines ….please contact us to discuss details.
- RetailAreas Covered: Financing is available for the purchase of anchored, and unanchored retail real estate in most geographic locations within Canada (urban centres preferred). Purpose of Loan: Acquisitions, refinance, existing debt, capital improvements, and new construction. Note: Some conditions and limitations will apply to the above mentioned products as per lender and insurer guidelines ….please contact us to discuss details.
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