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.
Does zionmortgages.com charge any fees to apply?
No, we do not charge any application fees.
What is the difference between "locking in" an interest rate and "floating"?
If you are concerned that interest rates may rise during the time your loan is being processed, you can "lock in" the
current days interest rate. You can lock your loan for up to 360 days. When you "lock in" an interest rate, you are
guaranteed that rate for the agreed upon length of time. The benefit is the security of knowing your interest rate is
fixed if interest rates should rise.
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.
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.
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VA Mortgage Loans versus to FHA Mortgage Loan
VA Loans are almost similar to most typical loans, solely they offer many additional benefits reminiscent of: no down cost necessities, decrease qualifying credit scores and mortgage charges will be packaged into the mortgage.
FHA Mortgage Loans are a preferred option amongst many non-veterans. Simple refinancing, more lenient qualifying credit criteria and low down fee requirements attract many people who could not otherwise qualify for a standard mortgage.
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
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.
