Karen Loehndorf
Calgary Mortgage Broker

Cell: 403.861.6969
Direct: 403.242.4392
Toll Free: 877.342.4392

karen@canquestmortgage.com

CURRENT MORTGAGE RATES Last updated:  April 28, 2008 Term Bank Rate Our Rate 6 month 6.20% 6.20% 1 year 6.95% 5.00% 2 years 7.00% 5.85% 3 years 7.00% 5.85% 4 years 6.85% 5.69% 5 years 6.99% 5.35% 7 years 7.40% 6.15% 10 years 7.75% 6.40% Variable Prime - 0.6% 4.15% Prime: 4.75% * rates subject to change without notice    .

No Money Down - Homebuyer 100 Mortgage Insurance Program
The Genworth Homebuyer 100 program makes it possible for your professionals, newly married couples, recent graduates and other Canadian homebuyers, who do not have the required savings for a down payment, achieve their dream of homeownership sooner.
Designed for individuals who have a stable source of income and a proven history of managing their credit and fiancés responsibly, the Genworth Homebuyer 100 program provides the flexibility to purchase the right home at the right time.

Highlights

• Up to 100% LTV for borrowers with a proven credit history
• Extended amortizations available up to 40 years
• Competitive premium rates
• Flexible mortgage terms and rates

Program Guidelines

• GDS: no limit
• TDS 40%
• Primary applicants used to qualify must occupy the property
• Non-residing guarantors are not permitted
• Non-residing co-borrowers are acceptable (must be an immediate family member and be on title)
• Closing costs – Should be from borrowers own savings
• Credit score 680 +, Genworth will average the scores pulled from both credit bureaus for each borrower
• Minimum two trade lines with at least two years history
• Borrowers with a prior bankruptcy are ineligible

APPLY NOW

Cash Back Equity Mortgage Insurance Program
This program recognizes that sometime saving the required down payment for a new home can be challenging.  The Genworth Cash back Equity Mortgage Insurance Program helps make it possible for you to start building equity in your own home without having to save for years. The program can be used to purchase and new home, purchase plus improvements, insured progress advance (building mortgage), and Secondary homes

Program Guidelines

• LTV 95%
• Beacon score 680+ - No limit GDS/TDS 44%
• Beacon score 650-679 – GDS 35%/TDS 42%
• Primary applicants used to qualify must occupy the property
• Non-residing guarantors are not permitted
• Non-residing co-borrowers are acceptable (must be an immediate family member and be on title)

APPLY NOW

Homebuyer 97 Mortgage Insurance Program
The Genworth Homebuyer 97 mortgage insurance program offers qualified Canadians an opportunity to own a home with as little as 3% down payment.  This product is designed for your professionals, newly married couples, recent graduates and other Canadian homebuyers who display a stable income as well as a proven history of managing credit responsibly, the ability to purchase a home sooner with numerous low down payment options.

Highlights

• Up to 97% LTV for Purchase Transactions
• Extended Amortization up to 40 years
• Competitive Premium Rates
• Flexible Mortgage Terms and rates

Program Guidelines

• Credit score 650 +
• Purchase , Purchase plus improvements and progress advances
• New or existing properties, Secondary homes, Max 2 units
• Non-residing guarantors are not permitted
• Non-residing co-borrowers are acceptable (must be an immediate family member and be on title)

Comparing the two programs