PAUL DUECK MORTGAGES
  • Home
  • Services
  • Apply Now
  • About Paul
  • Testimonials
  • Blog
  • Tools

The Mortgage Minute

Maybe an insured mortgage isn't that bad after all

4/24/2020

1 Comment

 
Do your clients ever complain about having to go through CMHC/Genworth/Canada Guaranty when they don’t have more than 20% down? Did you know that insured mortgages (when a client puts down less than 20% and has to pay mortgage default insurance) can actually get interest rates lower than those clients that put more than 20% down? With an insured mortgage the lender knows that they can get their money back if the client defaults, and therefore some lenders will actually reward the clients by offering them a lower interest rate. When clients put down more than 20%, lenders will often pay the mortgage default insurance premiums themselves, and then increase the interest rate to recoup that cost.
 
So you can always tell your client going through CMHC isn’t all that bad, and that they could actually get a lower rate!

1 Comment
Quebec Gloryholes link
1/28/2023 05:27:57 am

Hello mate greatt blog

Reply



Leave a Reply.

    Author

    Paul holds a Master's degree in Business Administration, loves to golf, watch hockey, and drink black coffee.

    Archives

    March 2025
    February 2025
    January 2025
    February 2024
    January 2024
    December 2023
    October 2023
    July 2023
    June 2023
    May 2023
    October 2021
    August 2021
    June 2021
    April 2021
    March 2021
    February 2021
    January 2021
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    April 2020
    March 2020
    February 2020
    January 2020

    Categories

    All

    RSS Feed

Paul Dueck     204-791-9449    [email protected]      Castle Mortgage Group, 100-1345 Waverley St., Winnipeg MB R3T 5Y7

  • Home
  • Services
  • Apply Now
  • About Paul
  • Testimonials
  • Blog
  • Tools