Hello Everyone,
There are so many things that are going on these days in the mortgage world that it's hard to keep up.
Rates have been changing daily AND some lenders are getting creative with mortgage products!
There are so many options available these days, the most exciting one right now is the 50/50 mortgage!
NEW 50/50 Wise Mortgage! The wise choice in today’s economy! Don’t choose between fixed and variable…CHOOSE THEM BOTH!
The benefits of the 50/50 Wise Mortgage
- Take the guesswork out of the fixed vs. variable dilemma. Customers can sleep at night and benefit from low short term interest rates.
- The effective rate given today’s 5 year fixed rate (4.09%) and the ARM (Prime +0.40%), is 3.38% (based on a weighted average)
- Take advantage of the 20/20 prepayment privilege to help your customer decide which portion to pay down faster.
- For example, you could use your prepayment privileges to pay down your highest rate (fixed rate) sooner to reduce your overall interest costs, OR, you could take the approach of paying down your ARM portion sooner to reduce the impact a year from now when Prime Rate increases.
Michelle Brienza, AMP (Lic # M0806298)
Senior Mortgage Agent
If you require more information or would like to speak with Michelle please call our office at 416-445-8855 and ask for Mikki Fish