Ottawa’s Housing Market
The Canadian housing market might be hot, but Ottawa’s residential and commercial real estate market is forecasted to be exceptional in 2017. In the first five months of 2017, Ottawa housing stats increased 48% year-over-year. Meanwhile, the average price for a residential property in Ottawa was up 7.4% in May to $436,000; the second consecutive month that prices have advanced in excess of seven percent. As for commercial real estate in Ottawa, it is expected that almost $1.4 billion in transactions will occur in 2017. This would make 2017 one of the three most active years on record for Ottawa.
Finding the Best Mortgage Rates in Ottawa
If you live in Ottawa and are looking for the best mortgage rates, consider using the licensed, independent, private lenders and mortgage experts at Canadalend.com who have access to hundreds of different lenders. Canada’s big banks only promote their own financial products, whether they’re suited to your needs or not. An independent Canadalend.com agent can help you find a mortgage that meets both your financial needs and long-term lifestyle goals.
Keep in mind, there’s more to finding the best mortgage than just interest rates. Interest rates are very important, after all, even a small increase in the interest rate can translate into tens of thousands of dollars in extra interest payment over the life of the mortgage, but there’s a lot more to the equation.
To find the best mortgage, you need to pay attention to the terms and conditions; including penalties, hidden costs, and switching to another lender. You also need to find a mortgage product that suits your financial and lifestyle needs, this includes looking at amortization periods, open vs. closed mortgages, fixed versus variable mortgages, and accelerated repayment options.
Here’s What Canadalend.com Offers
Canada’s strict lending rules have made it more difficult than ever to qualify for a mortgage. In the not too distant past you could get a mortgage with a 40-year amortization period with zero down. Not anymore; amortization periods have been slashed to 25-years and the minimum down payment for new government-backed mortgages has been raised to 5%.
That’s for those with good credit. Tougher lending rules have made it difficult for those who are self-employed, do not have reliable income, divorced, have bad credit, saddled with debt, have lost a job, owe back taxes, or are non-residents.
That’s where Canadalend.com comes in. Big banks need to adhere to strict lending rules which can make it very difficult for Canadian homebuyers to qualify for a mortgage. Independent mortgage brokers on the other hand are not shackled by the same rules and have more freedom and flexibility when it comes to finding you the right loan or financial product.
Our Mortgage Services
- Mortgage for First-Time Home Buyers
- Second Mortgages
- Residential Mortgages
- Mortgage Refinancing
- Commercial Mortgage for Businesses
- Home Equity Line of Credit (HELOC)
- Mortgages & Tax Arrears
- Debt Consolidation for Bad Credit
- Home Equity Loans
- Mortgages for Those with Bad Credit
Why Should You Choose Canadalend.com?
If you live in Ottawa and are a first-time home buyer, looking to refinance, consolidate debt, take out a second or even a third mortgage, have bad debt, are self-employed, or been turned down by the big banks, talk to a licensed agent at Canadalend.com. The mortgage brokers at Canadalend.com can get you pre-approved for a mortgage or loan in 24-hours or less.
To see what kind of mortgage or loan you qualify for, contact Canadalend.com today or apply online and a Canadalend.com mortgage specialist will set up an appointment for a free personal consultation at your earliest convenience.