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Calgarys Best Realtors
Denis Hrstic
ph: 403-879-6459
fax: 403-592-8831
info@myhomeagent.ca
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Friday, April 29, 2011 HUGE TD Mortgage Rule ChangesApril 28, 2011TD just made a major policy change on conventional mortgages – that is, mortgages without CMHC or GE insurance.
Effective April 28 2011, clients can now qualify for HELOCs,Variable Rate Mortgages and fixed rates of 1 and 2 years on the 3-year posted rate, instead of the 5-year posted rate.
Anything above 3-years (the 3 and 4-year fixed) is qualified on the actual rate, again, instead of the 5-year posted.
So, the bottom line is that if you want a 1 or 2-year term, TD can qualify you at 4.55%, not the old 5.69%.
That’s a huge difference and frankly, the way it should be!
Best Regards,
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