RESIDENTIAL MORTGAGES:
Ask the Mortgage Guy! Bank of Montreal Mortgage Specialist
Nick Dimulkas has been a BMO Bank of Montreal employee in the mortgage line of business for over 10 years. As a BMO mortgage specialist he keeps educated on new and historical trends in mortgage products, rates and housing. His network of internal and external financial partners gives him the edge he needs to make your financial goals come true.
Enter your questions email or call: (416) 258-0156
Mortgages at a glance:
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Mortgage Basics:
Choosing A Mortgage: There are various types of mortgages with different terms to choose from. Understanding what types of mortgages are available is easy. You can do your own independent research or call a specialist to get professional advice. This advice should be free of charge and with no obligations to commit with them unless signing a contract.
Types of Mortgages
- 1ST Mortgage
- 2nd Mortgage
- Line of credit
- Mortgage and Line of credit Combination
- Collateral Mortgage
Glossary of Mortgage Terms:
Term
Amortization
Fixed
Variable
Open
Closed
Convertible
1ST Mortgage
2nd Mortgage
Line of credit
Mortgage and Line of credit Combination
Collateral Mortgage
Prime Rate
Interest penalty
Trigger Rate
Comparing Mortgages:
Fixed Versus Variable: -Variable V.s Fixed
Open Vs Closed
Term lengths available: Generally 6 months to 10 years but some major banks have longer terms available.
Amortizations available: The life of the mortgage can be a maximum of 40 years or less.
Zero Down Payment:
Qualifications:
- Your income is required to afford the mortgage, property tax and maintenance fee and/or heat and hydro.
- Clean credit with as credit score over 680
Down payment between 5% and less than 20%:
20% down payment and less than 35%:
35% down payment or more:
Self Employed Program:
New to Canada Program:
New Immigrant to Canada:
Non-resident of Canada:
Options for Homes:
Rent Vs. Own:
Free Government Programs and Benefits:
Refinance:
Construction Loans:
Land Purchase Financing:
Mortgage Channels:
Closing Costs:
Mortgage Rewards Programs:
GENWORTH FINANCIAL:
High Efficiency Housing Program:
Home Buyer Privileges:
Apply for a mortgage pre-approval:
Pre-Qualify your own mortgage: (no credit check necessary)
Extended Amortization:
Mortgage approval Process:
Finding a lawyer:
Find a home inspector:
Mortgage Glossary:
Your Credit Score:
Benefits for 1st Time Buyer:
Saving for Down Payment:
New versus Resale Properties:
Choosing a Builder:
Oakville Real Estate
Beautiful Oakville real estate for sale is a rare commodity and you should be aware of the opportunity to buy in Port Credit. Its exclusive location on the shores of Lake Ontario and its excellent quality housing stock make it prime real estate for living and for investment. If you're interested in Oakville real estate, send an email to Damir. When opportunities in Oakville come available, he can contact you.
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