HOT PRODUCTS

• Free Down Payment Program
  
• Up to 5% Cashback
  
• Rent to Own Option
  
• No Fee Refinancing

First Time Home Buyers

Learn how to get a MAXIMUM discount on your mortgage by using our network of lenders. What you learn on this site can save you THOUSANDS of dollars!!

RATE BEATER! Enter your rate to see if we can beat it and save you money!

0 Down Mortgages -There is still time!

If you are wanting to purchase without a down payment, this program will soon be phased out. Now is the time to purchase your home with a FREE down payment.

A Message From Justin Welsby --

Mortgage Network would like to present DiscountedMortgateRates.ca. By registering for a NO-OBLIGATION rate hold you will receive the maximum discounted mortgage rate available.

Using our network of lenders and our Verico status, we achieve a volume of mortgages that allows us to receive the maximum discounted rate available. We would like to pass these savings on to the end user - YOU!

Ask me about these great products:

• Free Down Payment Program
  
• Up to 5% Cash Back
  
• No Fee Refinancing
  
• First Time Home Buying Program
  
• Home Equity Line of Credit

REGISTER FOR A 120 DAY RATE HOLD

ONE APPLICATION FOR ALL LENDERS!

My services can save you time and money, not to mention helping you with difficult credit situations.

Here's how it works:

When Mortgage Network takes your application, your info is put into our system, allowing us to send it to banks, credit unions and other mortgage lenders, allowing us to find you the best mortgage product for your situation.

Going to all these lenders yourself, would take a considerable amount of time and harm your credit. It only makes sense to let Mortgage Network do the leg work for you at no cost or obligation.

Here is a list of all lenders that I can get your mortgage with:

AGF Trust ATB Financial Alternate Savings B2B TRUST Banquet Laurentienne (QC) Bayview Credit Union Bridgewater Bank Citi Financial Mtl CitiFinancial - Toronto Citezens Bank Broker Services Coast Capital Savings CU Community Trust Concentra Financial Desjardins Credit Union Domininon Lending Centres Educators Financial Group Envision Financial Equitable Trust - Ontario Equitable Trust - Western Cnd Equity Plus Financial First National (AB SK MB) First National (BC) First National (ON QC ATL) First Ontario Credit Union FirstLine - Calgary FirstLine-Vancouver FirstLine Access FirstLine Mortgages G&F Financial Group Home Trust

Home Trust Accelerator Hypotheques Firstline ING Broker Services Industrial Alliance Italian Cdn Savings and CU Le Capitale Group Financier Laurential Bank Lendwise Capital League Saving and Mortgage MCAP Maquarie Financial Magenta Mortgage Investment Corp Merix Financial Mortgage One Mortgage Point Financial MyNext Mortgage Company National Bank - Toronto North Shore Credit Union Optinum Mortgage/Cnd Western Peoples Trust Scotiabank Servus Credit Union Spectrum Capital Street Capital Financial TD Canada Trust TD Financing Services Home Inc. The Mortgage Group Valley First Credit Union Vancity Broker Services Westminister Credict Union Xceed

Getting your info- first we need to get your info find out what it is you are looking to do, if it’s refinancing or a purchase there are many options that you can choose from. Finding the lender- Once we have found the best option for you, and then it is our job to find the lender with the best deal at that time on that product. Closing the deal- Once we have received a commitment from the Lender we will tell you what we need to close the deal, In some cases we would have already got this info from you, This may include proof of income and lawyer info. We are committed to find you the best mortgage possible for you and at no obligation.

About Your Credit Score

How the scoring system works, the credit bureau uses a number system it starts at 300 and goes up to 900 the higher the score the better your credit. It judges your score using a number of things. Passed payment history, amount of credit, if you are using too much credit, number of times you look into getting credit. It does not keep track of monthly bills like phone, cable, internet or even your mortgage payment. These will not affect your credit rating unless taken to collections. To show a good credit score you must keep up to date on things like credit card payments including department stores, car loan, personal loans, student loans and lines of credit. To keep your score high do not go over 75% of your limit and never go over limit or pay passed the min payment amount date.

First Time Home Buyers

My First Time Home Buying Team has many tips that we can share with you. As First Time Buyer, we will help you through the process - everything from what to expect at closing to saving money at tax time. We can provide tips that will change your home buying experience as well as providing mortgage products like the Free Down Payment Program and up to 5% Cash Back. There are great solutions for First Time Buyers that may need such as extra money for furniture, appliances, renovations, etc. We will also point you in the right direction for grants and credits at tax time.

Free Down Payment Program

Free Down Payment Loans are still available! Currently, there is a mortgage where lenders are giving 5% to use as a down payment, allowing purchasers to buy with no down payment. The home must be owner occupied and can be up to a two unit building (duplex). These are fixed rate mortgages for a 5 year term.

Compared to the 5% down mortgage there is little difference on the money out of pocket over 5 years.

Based on a $200,000 Mortgage @ 4.09% Amortized 25 Years - it costs only $306.20 more to use the Free Down Payment Program.

Rent to Own Options

Working with private lenders we have set up a Rent to Own Option. This is a great option for buyers with previous credit problems. Bankruptcies and bad credit are okay.
(Note: If you have 2 or more bankruptcies contact Mortgage Network for other options.)

During the tenancy period, you pay a monthly rent plus a payment towards your Down Payment. Your monthly rent does not increase during the tenancy period and at the end of agreement you would have saved approximately 7% of which 5% will be for the Down Payment and 2% will be to pay your closing costs. At the end of your term, after you taken the steps to re-establish your credit, you will obtain your own mortgage and the title will be transferred into your name. The purchase price will be adjusted to reflect appreciated value.
(Please see the chart below for an example based on a $200,000 Purchase Price.)

Approvals are on a case by case basis, but there are some general requirements:

• Guaranteed Income - (Rate of pay, salary, guaranteed hours at job)
• 2% Down Payment - (This is equivalent to just over first and last month's rent.)

No Fees Refinancing & Renewals

Mortgage Network and its lenders, have set up a No Fee Refinancing program, working with First Canadian Title to eliminate appraisal and legal fees. It is common to pay fees when refinancing your home (legal, appraisal and sometimes a broker fee). While offering you the lowest rates available, this is your best refinance option. OAC

What if you could save hundreds, if not thousands in monthly bills by refinancing?

How can you lower your monthly bills? By taking advantage of today's low rate, you can completely wipe out your debt saving hundreds that you could put back on your mortgage, making you mortgage free faster.

Let's assume that your current situation is this:

You could consolidate all of these payments into

ONE low monthly payment of $1,303.53

saving you $751.35 EVERY MONTH!

THAT IS $9,016.20 EVERY YEAR GOING INTO YOUR POCKET!

2nd Mortgages

If a 2nd mortgage fits your situation Mortgage Network has a variety of lenders with the most competitive interest rates. As well, for those difficult situation, we deal with private lenders. If you are interested in a 2nd mortgage there is a line of credit option that is available.

Up to 5% Cashback

At closing, you may ask for cash back, up to 5%. This mortgage may come in use if you are looking to do renovations, purchase furniture or appliances or if you would like to purchase a home without draining your savings.

Fixed Rates VS Variable Rates

This is the question most people have very different views on and is something that you should look into when choosing a mortgage. Although the savings of a variable rate can look very enticing the is risk involved and you need to know what is at risk. For example, If you take a variable rate at -.10% off prime and prime was 2.25% your rate would be 2.15% and the fixed rate may have been 3.99. Sure you would be saving money today. Now if rates went up so does your rate if variable, this can happen without warning. You may have the chance to lock in at any time but what will the fixed rate be if the variable goes up so will the fixed rates. When picking between the two, ask if the risk is worth the reward.

Open VS Closed Mortgages

Most people would like to have open mortgage, you hear of the big penalties to get out of mortgages. An open mortgage usually comes with a higher rate of interest, so if looking for short term it can make sense. But to pay more for the mortgage just to have the option look into what the penalty would be and decide if it is the mortgage for you. This is a product that should be sopped for by a mortgage professional because it varies so much between lenders.

Mortgages For Self-Employed Without Income Verification

There are many guidelines that banks have, some bank frown on the self-Employed. There are other lender that gear there business to help those that do not qualify with their bank. If you are self-employed and have documentation to prove that, you can get a mortgage. It is a common mistake to think that if you bank has turned you down you are out of luck. Please contact us and we will help arrange a mortgage.

Why Use Mortgage Brokers?

Are you wondering why would I go to a broker when my bank can get me a mortgage? Well your bank can in most cases give you a mortgage, but will it be the best mortgage available probably not. It is in some sense an numbers game there are over 70 mortgage lenders and to think your bank has the best rate or product for you situation is not likely. Banks also have guidelines for who they lend to, and in some situations you may not fit. This does not mean that other lenders would be more then happy to give you their best rate. It is always suggested to speak to a mortgage professional before signing with a bank.

My goal is to provide you with the best mortgage for your current situation.

Not only best rate, but the best TERMS for your situation!

REMEMBER: It costs you NOTHING to get started and most of all there are NO obligations. If you are not satisfied with my offer then you can cancel at anytime and you'll still get to keep my credit guide -- no matter what you decide!

Sincerely,

Justin Welsby