.... and probably some good questions as well. We think that choices and questions are great when you are shopping for a mortgage and as such we have included many resources to help you do your homework while you are deciding who you would like to work with for your mortgage transaction along with what mortgage options work best for you. Please feel free to browse through the helpful tools and types of mortgages sections for information ranging from the role that CMHC plays in your purchase, to rental and investment property financing options, to second home purchases, and self employed mortgages and much more. We are always just a phone call or email away and are happy to answer any questions that you have. As well, day to day we think it is normal for you to want to know who you are dealing with and what value they offer you. With this in mind we have included a bit about our background and what we value below.
Roost Mortgage offers some of the lowest mortgage rates in Canada while providing excellent service. We are a Calgary based mortgage brokerage providing mortgages throughout Alberta and Canada. Our main office is located at #300, 160 Quarry Park Blvd SE. We are available by appointment to meet in person or directly via phone or email during regular business hours. As well we are available for phone appointments after hours, please just ask and we will do our very best to fit your schedule. We have been in business for many years and value great communication, clarity, and saving you money. Through out the years we have had the opportunity to work with thousands of clients to ensure they receive the very best mortgage rates in Canada.
We are often asked how we offer some of the best and lowest mortgage rates for mortgages in Calgary and throughout Canada. This is a really good question and the answer is simple, by using our volume discounts with many major Canadian banks and trust companies and then further using a part of our compensation to lower your rate below the market, we are able to offer some of the lowest average mortgage rates available.
Please feel free to read through all of the mortgage information we have prepared for you and then contact us to take the next steps in your mortgage approval.
..... and we will explain the difference to you. You have probably noticed on the internet that there seem to be some very low mortgage rates that are referred to as "limited rates" - we offer some of these as well.
However although many of these rates seem to have a low "price", the long term "costs" to clients for choosing them can sometimes be quite high. Lets look at an example:
Some of the variable rate limited term mortgage options can be about 0.1% to 0.2% less than the best discounted market rates. Over the course of a five year term on a $300 000 mortgage this can save between $1500 and $3000 in interest. However the small print on these limited mortgages can include items such as offering no or limited portability and also sometimes having a pay out penalty of 2.75% of your mortgage amount instead of the standard three months of interest penalty that most variable mortgages offer.
We have many clients who choose to revise their mortgage or sell their home and move within their five year term. With this limited mortgage your pay out penalty would be a very steep $8250 versus the industry standard of three months of interest which is $1575 for a difference of $6675.
In summary, on the surface the lower price can save you $1500 in interest however the true cost to you could be an additional $6675 for a total loss to you of over $5000.
When we consult with our clients on their mortgage needs and goals this is a small example of the value that we offer to you that in many cases other online mortgage solutions might not. We want to ensure that we have the best pairing of both price and cost for you to save you money.
|Terms||30 day/ limited Rate||Rate|
|1 year fixed||-||2.89%|
|2 year fixed||-||2.54%|
|3 year fixed||-||3.09%|
|4 year fixed||-||2.99%|
|5 year fixed||2.99%||3.04% - 3.29%|
|10 year fixed||-||3.99%|
|5 year Variable||-||2.30% - 2.70%|
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