Jordan Payment Mortgage Agent

Happy Monday! Some of you may look at this and wonder What on earth does this mean?. Let’s break it down: When applying for a mortgage, the bank will offer you an interest rate, however this is NOT the rate that they will use to qualify you with. Instead, they will use either the rate offered to you plus 2%, OR the new Bank of Canada qualifying rate of 4.79%, whichever is LOWER. This is to ensure you can still afford your mortgage payments if interest rates rise (known as t...he Stress Test) With this new Bank of Canada qualifying rate, you can now have increased buying power when applying for a mortgage! #mortgagebroker #torontorealestate #realestate #mortgage #BankofCanada #interestrates #durhamregion

Are you curious to see what you can afford but not quite ready to enter the housing market yet? My Mortgage Toolbox is my personalized app can show you for free and in less than 60 seconds your maximum home purchase price! Enter this link in your browser to get it on your smart phone or any other mobile device: https://dlcapp.ca/app/jordan-payment... Or reach out to me and I’ll be happy to send you the direct download link This app will also estimate what your monthly mortgage payment will look like as well calculate fees like land transfer tax, default insurance, and more!

Why should you get pre-approved for a mortgage before you go shopping for a new home? The last thing you want when you find your DREAM home is to realize you don't qualify for the amount of the purchase. Let me help you find a comfortable and realistic budget to go shopping with. Another benefit of a pre-approval is you can LOCK IN your interest rate for up to 120 days before you find your new home. Even if interest rates rise during this time, you are already guaranteed the ...lower rate. DM or call me today and we'll find the perfect amount for you to shop for a new home with!