Sentences with phrase «frills mortgage»

«With the lowest broker rates, you're sometimes talking about different products — a low - frills mortgage versus a bank mortgage — but nevertheless the interest cost gap is extremely wide.»

While the lack of flexibility regarding terms and pre-payment options can be frustrating, a no frills mortgage might be the best decision for a buyer seeking a first - time home buyer mortgage.

If you plan on purchasing a starter home, or a property which you will upgrade from after a while, a no frills mortgage can be worth its lack of flexibility.

It's hard to plan for how your financial future will unfold, and if a monetary emergency arises that requires a flexible home loan, a no frills mortgage might not be the best choice.

The terms and pre-payment options available with a no frills mortgage are minimal, which can be a disadvantage for borrowers looking for a home loan they can adjust to fit their needs over time.

A good Mortgage Broker can get you 3.39 % out there with no restrictions on amortization (even lower with some No Frills mortgage products).

If you don't foresee moving, refinancing or making big prepayments in the next five years, consider low - frills mortgages.

Not exact matches

Some banks are offering «no - frills» or basic loans at rates lower than those offered by key mortgage managers.

NDP: Update the Consumer Protection Act to cap ATM fees at a maximum of 50 cents per withdrawal; ensure all Canadians have reasonable access to a no - frills credit card with an interest rate no more than 5 % over prime; eliminate «pay - to - pay» by banks in which financial institutions charge their customers a fee for making payments on their mortgages, credit cards, or other loans; take action against abusive payday lenders; lower the fees that workers in Canada are forced to pay when sending money to their families abroad; direct the CRTC to crack down on excessive mobile roaming charges; create a Gasoline Ombudsperson to investigate complaints about practices in the gasoline market.

The logic: Some «low frills» closed mortgages don't let you out before maturity — no matter what — unless you sell your home.

Just be sure to inquire about the details, as some «no frills» mortgages may prohibit this option.

Bear in mind any undisclosed costs or unfavorable conditions attached to a no - frills low mortgage rate.

It is worth noting that this mortgage in particular is not a «no frills» product as is the current BMO offering — instead this is a fully featured mortgage.