anyone knows about 35 yrs amortization ? Which banks here offers ?
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Posted on: 14-07-06 21:05:55
I'm looking to refinance for a 35 yrs amortization and most banks ive contacted dont have it yet ......... but only BMO and they only give this amortization for a first time home buyer meaning only new mortgages.........i'm living in mississauga and want this amortization...... have a detached house for the past 4 yrs now......genuine information is important with phone nos. if possible.
Quote:
Originally posted by ashspice
I'm looking to refinance for a 35 yrs amortization and most banks ive contacted dont have it yet ......... but only BMO and they only give this amortization for a first time home buyer meaning only new mortgages.........i'm living in mississauga and want this amortization...... have a detached house for the past 4 yrs now......genuine information is important with phone nos. if possible.
My friend you have posted this in wrong section. I hope the admin will put this thread in right section.
There are some banks and some mortgage companies (who only deal with a mortgage broker) offer 30 and 35 year amortization. A mortgage broker like my self would have access to these mortgage companies. The mortgage professional would sit with you and discuss all the alternatibes available to you and guide you the best course of action.
If you need help, you can contact me by PM or you can get my contact information from my signatures below.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
I heard these mortgages comes with a premium costs even if you are paying 25% downpayment
Also, I heard that there are more penalty if you want to prepay the mortgage.
I am not sure whether the above statements correct? Leave it on subject experts
