Sentences with phrase «stiffer mortgage penalties»
It may come with restrictions like stiffer mortgage penalties, limited prepayment privileges and shorter closing times (some lenders offer a lower rate when your mortgage closes in 30 to 45 days).
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It may come with restrictions like stiffer mortgage penalties, limited prepayment privileges and shorter closing times (some lenders offer a lower rate when your mortgage closes in 30 to 45 days).
Not exact matches
Many mortgage lenders will tack on stiff penalties for early repayment.
To show you just how stiff the penalties can be, Marcus Tzaferis, founder and chief economist of MorCan Direct in Toronto, estimates that a typical penalty for breaking a $ 200,000 five - year fixed - rate mortgage locked in at 5.9 % after two years, given today's 3 % prime rate, would be roughly $ 12,000.
Jim Murphy, CEO of CAAMP, a Canadian trade organization representing mortgage brokers, has been actively petitioning the federal government for stiffer penalties for mortgage fraud, a crime that the Canadian Intelligence Services has estimated costs hundreds of millions a year.