Toronto, Ontario (PRWEB) December 03, 2012
TorontoMortgageSite.com , a mortgage broker in Toronto, is now offering a 5 year fixed rate mortgage at 2.89%. This mortgage product is available for a home purchase, mortgage refinance or renewal. This 5 year fixed mortgage rate can be held for up to 120 days which is very attractive for home buyers who have a purchase closing soon or in a few months time.
TorontoMortgageSite.com has several mortgage lenders available who can offer this mortgage rate and the product is available with full pre-payment privileges of 20% annually along with 20% mortgage payment increases. Monthly , bi-weekly and weekly mortgage payments are an option as well. This mortgage product is also portable and assumable to add further flexibility for the borrower as the contract rate can be transferred to a new property upon sale of the existing home. As well, a future home buyer could assume this low rate upon approval with the current lender, which can be a key selling feature for a home. With mortgage rates in Toronto available at these levels , borrowers now have a great opportunity to save money on interest and get a low mortgage payment locked in for 5 years.
Existing mortgage borrowers can now take advantage of applying to refinance a mortgage or get a mortgage renewal at this attractive low rate of 2.89% for 5 years fixed. Refinancing a mortgage and paying off higher interest debts such as credit cards, credit lines and car loans can save thousands of dollars of interest and free up much needed monthly cash flow by eliminating loan payments. A mortgage broker in Toronto such as TorontoMortgageSite.com, can help you save money by analyzing your current debt payment situation and offering a solution with a debt consolidation mortgage refinance.
Getting a mortgage approved with TorontoMortgageSite.com is simple and efficient. A quick online application can get the process started easily. Mortgage approvals for our clients are typically obtained in less than 24 hours. Our clients enjoy the best mortgage rates we can offer, professional service and knowledgeable advice. Using a mortgage broker has many advantages versus going to a bank branch to obtain mortgage financing for a home purchase , mortgage refinance or renewal. We have access to multiple lenders with a wide variety of products and of course, competitive low mortgage rates.
Current economic conditions in Canada and across the world have kept interest rates at low levels during the last few years. A surge in home prices, especially in Toronto and some cities in Canada, have made low mortgage rates almost essential to keep affordability at reasonable levels. There is always speculation of an increase in interest rates, but for the time being, mortgage rates will most likely stay at historically low levels.
Use this great opportunity of todays' lowest mortgage rates to apply for your next mortgage with http://www.TorontoMortgageSite.com