Mortgage Financing Rates
It’s time to rethink what you know about mortgage rates. Most of our clients believe that if they've been with their bank for a certain number of years, they’ll automatically get the best rates or better. Your bank has a responsibility to look after their bottom line, not yours. Most banking institutions will even reward or bonus their representatives when they offer you a higher rate. As an independent broker, Averbach Mortgages isn’t on the banks’ payroll. We have your best interest in mind and can present you with more and better options. Our job is to find you the best mortgage package with the best rates available.
The real estate market moves quickly and you need an independent broker that does too. Due to our relationship with many different groups, lenders and banks, your entire application process is often completed in less than a day.
How can banks offer an independent mortgage consultant a better rate for their prospective clients? It’s all about time. Your time is valuable, and so is theirs. We help connect lenders to new business without the stress and costs of directly dealing with customers one-on-one. Mike Averbach will get you more options, and the best financing rates available, every time.
| Posted Rates | Averbach Rates | |
| 6 Months | 4.85% | 3.75% |
| 1 Year | 4.05% | 2.64% |
| 2 Year | 4.55% | 3.04% |
| 3 Year | 5.10% | 2.90% |
| 4 Year | 5.74% | 3.65% |
| 5 Year | 6.10% | 3.65% | 7 Year | 6.80% | 4.75% |
| 10 Year |
6.90% | 5.00% | 5 Years Variable Rate Closed | 2.35% | 2.05% |
| 5 Years Variable Rate Open | 3.75% | 3.55% |
- Prime MINUS .80 closed (10% max payment increase per year - no lump-sum) for 3 Years. Prime +.80 open.
- 5 year, 3.69% is a "Quick Close" special rate for owner occupied properties and requires title insurance and no free legal/appraisal.
- *Free legal and appraisal on 3.75%, 5 year , 7 year 4.75% and 10 year 5.00% fixed only on fully qualifying applications. Areas limited to Vancouver Lower Mainland and Victoria.
- 3 Year, 2.90 is a "Quick Close" for owner occupied properties, and 3.05 for rentals. Must fund by October 31st.
- 50/50 Hybrid Mortgage available with 3 Year Fixed rate at 3.69% and the 3 Year ARM rate will be 2.05% (Prime - .70%).
Prime Rate: 2.75
Discount Off Prime: 0.80
Rates lasted updated: August 27th, 2010