mortgage brokers
#1
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Joined: May 2007
Posts: 415
mortgage brokers
hi all, just wondering if anyone has used or knows off a good mortgage broker in saskatchewan...we wont have a deposit to put down as my house in the uk is still not sold:curse: any info would be grateful
#2
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Joined: Feb 2008
Location: Toronto, Canada
Posts: 285
Re: mortgage brokers
Because you have no or minimum deposit you will also need mortgage insurance which is on a sliding scale depending on the percentage that they will need to insure. Generally they are referred to as high ratio mortgages when they exceed 75% of the value. There are some qualifications to getting mortgage insurance so you might want to check out the web sites of the CMHC (Canada Mortgage and Housing Corporation) and also Genworth Financial Canada for the guidelines.
www.cmhc-schl.gc.ca
www.genworth.ca
Hope that this helps
#3
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