For Purchase
|
Type Of Rate
|
Rate
|
Get Rates
|
|---|---|---|
|
5 Year Fixed
|
4.59%
|
|
|
5 Year Variable
|
3.80%
|
For Refinance
|
Type Of Rate
|
Rate
|
Get Rates
|
|---|---|---|
|
5 Year Fixed
|
4.59%
|
|
|
5 Year Variable
|
3.80%
|
|
|
Heloc Rates
|
5.20%
|
The WEFIN difference:
- WEFIN finds the best rates with mortgage brokers across the country and puts it online
- You Apply online
- One of the top rated Mortgage Broker connects with you over email/call and helps you access these low and best rates!
Not sure what you qualiy for? Check out our Calculators here:
Frequently asked Mortgage Questions:
- Fixed Rate mortgages have a set rate throughout the term of the mortgage, which is typically for 3 or 5 years. This means your payment and interest stays the same throughout the term. On the other hand – with a Variable rate mortgage, the rate changes based on the prime rate. Typically, these rates are lower than the fixed rates being offered and offer more flexibility but also have uncertainty as they may change with the decisions of the Bank of Canada and the Prime Rate.
- In BC, fixed-rate mortgages are used more often than variable rates, with more than 65% of mortgages in the BC using them.
- The answer to this depends a lot on your individual situation. Most people consider that for shorter term mortgages (if you are planning to refinance or sell the property soon), variable products typically offer more flexibility as they have lower penalties then fixed mortgages. On the other hand, they have a higher risk of payment increase due to change in Prime Rate. The correct solution for everyone is different and we recommend talking to a mortgage broker who can evaluate your individual situation and help you find the right mortgage for you.
Yes, typically a mortgage broker is a better option than going to the bank. The following are the advantages of working with a mortgage broker:
- Typically a mortgage broker has access to multiple lenders (banks, credit unions, various other financial institutions, alternate and private lenders), this gives access to more products then most clients would have.
- A mortgage broker can use 1 credit report to shop with various lenders, while if you go to different banks, each bank has to pull their own credit report. This may hurt your score and working with a broker can help in avoiding this.
- Greater Flexibility than a Bank – Since mortgage brokers are mostly self employed they usually offer flexible signing and meeting times which might be better suited for you.
- In most cases, Free – as the mortgage broker is paid by the Bank for getting them your mortgage, their service comes Free to you!
- Expertise and Knowledge – Just like how working with a personal trainer is better for you than working out alone, a good expert mortgage broker may give you advise and tips which will make your real estate journey smoother and better.
