Prime Rate
5.45%
1 Year Fixed Rate
6.04%
2 Year Fixed Rate
5.34%
3 Year Fixed Rate
4.39%
4 Year Fixed Rate
4.49%
5 Year Fixed Rate
4.29%
Fixed Rates
Prime 5.45%
5 Year Fixed Rate 4.29%
4 Year Fixed Rate 4.49%
3 Year Fixed Rate 4.39%
2 Year Fixed Rate 5.34%
1 Year Fixed Rate 6.04%
Variable Rates
5 Year Variable Rate Prime -0.95%
3 Year Variable Rate Prime -.75%
Private Mortgage Rates
First Mortgages starting as low as 7.19%
Second Mortgages starting as low as 9.24%
Up to 80% LTV
Beacon Scores from 300 +
Collingwood’s Real Estate Market & Mortgage Offerings
Current market trends indicate a buyer’s market in Collingwood. Despite an impending recession and high-interest rates, there was a 3.3% decline in average sale prices.
However, with improvements to Ontario’s economy and the projected lowering of interest rates, the market should return to a more balanced state. If you need financing, it may be time to contact a mortgage broker in Collingwood.
Lower interest rates make purchasing a home or refinancing a feasible solution for homeowners. These rates aren't exorbitant, allowing people to save money and reduce costs when budgets are tight.
A balanced market provides more stability in real estate. Instead of the ever-present bidding wars driving up prices, homeowners may find properties at more reasonable amounts.
Mortgage Rates Collingwood: Exploring our Range of Mortgage Services
Canadalend has experience working with individuals affected by various financial factors. We assist those who are self-employed, have low income, damaged credit, or are first-time homebuyers, offering them low rates.
Saving money is essential. We give you options to do so.
Mortgage Refinancing
Reasons for refinancing include renovations, debt consolidation, education costs, buying a second home, or making investments. Refinancing means replacing your existing mortgage with a new one tailored to your financial situation. Homeowners can enjoy lower interest rates and reduce their monthly payments.
Home Buyers Mortgage Plans
At Canadalend, our mortgage brokers in Collingwood have cultivated strong relationships with several lending institutions, including credit unions, banks, and alternative lenders. This access allows our brokers to offer a variety of mortgage products, helping us recommend financially feasible options to our clients.
Second Mortgage
Second mortgages serve many purposes. They can help consolidate debt, pay off arrears, fund renovations or home additions, among other uses. Canadalend examines your financial goals and reviews the terms of your first mortgage to ensure there are no obstacles to obtaining a second mortgage.
Commercial & Industrial Solutions
Each business has unique needs. Whether you require a loan to finance commercial property, start a new business, or upgrade an existing one, our firm provides competitive commercial rates.
Canadalend has access to dedicated teams of construction and commercial underwriters. With 20 years of experience in land assembly financing, commercial, and construction, our team can secure the best funding for your venture.
Private Mortgages
Private mortgages are viable options if you have damaged credit or are self-employed. CMHC changed lending regulations for traditional banks in 2014, making it harder to obtain financing. They focus mainly on credit scores and income.
Our private mortgage lenders in Collingwood take a broader view of your situation, are more flexible in evaluating borrowers, and are more lenient towards low credit scores.
Bad Credit Mortgages
Our agents offer options to restore your credit through private lenders. Canadalend’s mortgage brokers have access to non-traditional lenders who have more lenient mortgage qualifications than traditional banks.
We explore your options, including refinancing your home’s equity to reduce credit card debt.
Self-Employed Mortgages in Collingwood, Ontario
In 2018, 15.5% of self-employed Canadians were in Ontario. In 2014, the Canadian Mortgage and Housing Corporation (CMHC) discontinued self-employed mortgages without third-party validation of income. Before this change, self-reporting income was the only requirement.
Traditional banks often view entrepreneurs as risky due to a perceived greater risk of default. However, Canadalend is independent, and our access to hundreds of lenders provides competitive rates and better chances of approval.
Home Equity Loans
If you have owned your home for years, its value has likely increased. We can assess your home’s equity if you need financing. Home equity loans allow homeowners to access accumulated equity based on the home’s appraised value.
Canadalend examines outstanding loans and the appraised market value to determine your qualifications. Our home equity loans are a lump sum of money with fixed monthly payments, allowing homeowners to budget effectively.
Home Equity Line of Credit in Collingwood
Your home’s equity can serve as collateral for a Home Equity Line of Credit (HELOC). This provides flexible financing options for construction, renovations, tuition, consolidating debt, and investments due to its payment flexibility and low interest. Homeowners pay interest only on the balance of the loan, not the entire amount.
HELOCs are open loans, allowing you to access funds and pay them off at your convenience.
Mortgage & Tax Arrears
Mortgage and tax arrears can be a significant source of stress for many Canadians. Life sometimes leads to falling behind on payments for various reasons. However, the sooner you contact your mortgage broker, the quicker we can assist you before the situation becomes dire.
Our portfolio of private lenders can help you reduce monthly payments with lower interest rates, helping you get back on track. Furthermore, options like second mortgages and refinancing provide additional relief.
Reverse Mortgage
Your home’s equity and property value are key factors in determining the feasibility of a reverse mortgage. Reverse mortgages are available only to those aged 55 and over. The greater your home’s equity, the more funds you can access.
This loan helps homeowners supplement their retirement income and can provide funds for significant purchases. No monthly payments are required for as long as you live in your home.
Mortgage Renewal
Don’t limit your options to your existing financial institution. Our mortgage brokers in Collingwood can compare terms and rates with our extensive lender network, causing them to compete for your business. When they compete, you benefit from lower rates and better terms.
This competition allows you to find the most competitive rates, potentially saving you thousands of dollars.
Why Choose Our Mortgage Solutions in Collingwood?
If you're tired of high rates and long approvals, our Collingwood mortgage brokers offer more options at better rates through a wide network of lenders.
Furthermore, our staff are knowledgeable about the current housing market, the various products our lenders offer, and prevailing rates. We create competition between lenders for your business, resulting in better terms for our clients. As a top mortgage company in Collingwood, if you need a loan quickly, our expert brokers are available seven days a week to expedite the process.
We care about our customers and provide feasible opportunities, setting you up for success. Our team has saved our clients thousands of dollars and looks forward to exceeding your expectations.