Current Ontario Mortgage Rates
Quick Mortgage Definitions / Terms / Facts
Is my personal information safe?
Absolutely. Your privacy and security is of the utmost importance to us. After logging into this system, your information
is encrypted so your personal information cannot be accessed or viewed by anyone without the proper privileges. We
maintain the highest level of security and data encryption available throughout your loan process.
What is the Lock Policy?
The interest rate market is dynamic and subject to movements without advance notice. To protect you from interest rate
fluctuations, zionmortgages.com allows you to lock in the interest rate and corresponding points quoted to you when you
apply for a loan with us. This locked-in rate is good for a certain period of time, regardless of whether rates go up or
down. Please note that zionmortgages.com is not responsible for any rates that may change prior to when you lock in your
rate. This policy is subject to change without advance notice by us.
What is a FHA Loan?
The Federal Housing Administration FHAloans are offered by the the Federal Government and can be acquired with as little as 3.5% down payment. FHA mortgage loans also provide low closing costs or wrap your closing costs and fees into the loan.
What is the Lock Policy?
The interest rate market is dynamic and subject to movements without advance notice. To protect you from interest rate
fluctuations, zionmortgages.com allows you to lock in the interest rate and corresponding points quoted to you when you
apply for a loan with us. This locked-in rate is good for a certain period of time, regardless of whether rates go up or
down. Please note that zionmortgages.com is not responsible for any rates that may change prior to when you lock in your
rate. This policy is subject to change without advance notice by us.
Steps to Getting a Ontario Mortgage?
Get a Free Credit Report!
The first step to getting a Ontario mortgage is to know your credit score.
Understanding your credit report is a critical part to getting your mortgage.
Raise your score while you shop for your Ontario home to get the lowest rate at closing, with a few easy steps you can easily raise your score in within a few months.
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Mortgage Qualification Guidlines
1. If the government has established your student loan to be in default, it is possible that you are not found to be a qualified applicant for a mortgage loan. However, there are cases the disqualification may be waived provided that you have entered into your repayment negotiations to schedule for the student loan and you have made punctual payments again for the previous year.
2. You should pay any outstanding collection payments prior to filing you application for the mortgage loan.
3. If you are subject to cases that involve child support payments, your payments should be current and caught up. All court ordered judgments should have been paid up to date.
Lending Tree Mortgage Calculator
Compare Ontario local and national bank lenders.
Ontario Mortgage Lenders are among some of the most stable and succesful in the country. Now is the time to get a new or refinanced mortgage while CANADA interest rates are low!
Mortgage Qualification Guidlines
The significance of having a clean or the slightest a perfect record cannot be over overemphasized when it comes to getting a mortgage loan. However, if you have had some small imperfections in your record, lenders provide considerations such as specified above. Knowing these, you can pretty much estimate if you would be able to qualify for a mortgage loan or not.
