New Home Mortgage Loan Rate Products for Canadians - from The Mortgage Store Online
The Mortgage Store Online (TMSO) today announced their offering of several new mortgage rate products for home loans in Canada. Canadians can use these new mortgage options - which are new types of adjustable rate and fixed rate mortgages - to purchase a new home, refinance their current property, tap into their home's equity, and much more.
Toronto, Ontario (PRWEB) June 7, 2007 -- The Mortgage Store Online (TMSO) announced today their offering of several new mortgage rate products for home loans in Canada. Including both adjustable rate and fixed rate mortgage products, Canadians can use these new mortgage options to purchase a new home, refinance their current property, tap into their home's equity, and more.
These newly offered mortgages have the potential to provide significant savings to Canadian borrowers. In addition, they offer flexibility in interest rates and mortgage payment options. "These new home mortgage products can provide borrowers with considerably low rates and payments," states Joe Janovich, President of The Mortgage Store Online. "Some come with line of credit options and others offer special cushions of safety for adjustable rate mortgages."
The new mortgage options for Canadians home borrowers include:
1. Fixed adjustable rate mortgage loan WITH a line of credit option.
This fixed and adjustable rate combination mortgage allows a portion of your mortgage amount to be charged with the fixed rate of interest, and the other portion to be charged with the adjustable rate. This type of mortgage also comes with the option of allowing the adjustable rate portion of your mortgage to become a line of credit. You can borrow from this amount as you please, just as you would with a credit card or bank line of credit, but with a much lower interest rate.
2. Adjustable Rate Mortgage Loan WITH Low Introductory Rate
This adjustable rate mortgage option comes with an ultra low introductory mortgage rate of 3.49% which borrower's can keep for 3 months.
3. Adjustable Rate Mortgage Loan WITHOUT Introductory Rate.
This adjustable rate mortgage comes without a low introductory rate, but starts at Canada's current lowest mortgage rate of 5.1%, and is afterwards adjusted on a monthly basis, if necessary, so that it is always 0.90% below the Canadian economy's prime rate. This mortgage also comes with an option of having the rate adjusted every 4 months, despite any changes to the prime rate , but starts at a rate of 5.2%
"These new mortgage rate products only represent a few of the many we offer through our company," says Janovich. "Because of our access to all major Canadian lenders - including banks, trust companies, and even private mortgage companies - we have an exhaustive amount of home mortgage loan programs, each with unique benefits for borrowers"
A full list of mortgage services provided by The Mortgage Store Online can be viewed on their website, themortgagestoreonline.com.
SPECIAL OFFERS
Request free mortgage rate quotes.
OTHER MORTGAGE NEWS
Fixed rate home mortgage loans still the better option over adjustable rate mortgage loans - an exclusive report from The Mortgage Store Online (TMSO)
ABOUT THE MORTGAGE STORE ONLINE
With headquarters in Ontario, Canada, The Mortgage Store Online provides home and commercial mortgage loans in most Canadian provinces (excluding Quebec and the Territories). Founded by veteran mortgage broker Joe Janovich, The Mortgage Store Online couples 'real world' experience, industry relationships, customer service and secure technology with the convenience of the Web. For more information, visit www.themortgagestoreonline.com or call 866-880-2577.
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