(
I-Canada-News.Com, July 25, 2012 )
Vancouver, Canada -- The Office of the Superintendent of Financial Institutions Canada (OSFI) recently announced new rules that will affect all mortgage borrowers. Included in the rules, OSFI will not require re-qualification at the time of loan renewal for those borrowers who remain in good financial standing and who stay with their existing lender.
This is good news for borrowers as OSFI originally proposed that mortgage holders would need to be re-qualified for renewals, regardless of their status.
The new guidelines state lenders can rely largely on people’s “good payment” records at renewal since this “is one of the best indicators of credit worthiness.”
Before renewing a mortgage, borrowers should consult a qualified mortgage broker to ensure they are receiving the best
mortgage rates and terms.
For years, people throughout Canada have been turning to
Vancouver mortgage company Verico Synergy Mortgage Inc. for help securing optimal financing and refinancing options. The independently owned boutique firm is made up of Canada’s top mortgage brokers and specializes in
mortgages for residential real estate.
Verico Synergy Mortgage Inc. points out that as the new rules from OSFI prove, borrowers with a good financial track record have a clear advantage over other borrowers when it comes to better mortgage rates and terms.
According to the company: “As mortgage brokers, we know it is very important for borrowers to remain in ‘good standing’ with their lender. In other words, make all of your mortgage payments on time, including paying your property taxes on time. Managing debts responsibly will increase a borrower’s chances of obtaining attractive mortgage rates and terms at the time of renewal or refinance. If a borrower is late with payments, this may cause their lender to view them as ‘higher risk,’ and therefore charge higher rates at renewal and/or they may be declined for a refinance.”
All of the brokers at Verico Synergy Mortgage Inc. are licensed by FICOM, are experts in the field of residential mortgages, are post-secondary educated, have passed a criminal record check and provide exceptional service.
The company’s site offers borrowers a wide range of resources, including a free
mortgage calculator.
Borrowers experiencing or anticipating any future difficulties with their debt management may contact the company for a confidential, no-obligation mortgage review.
For more information, visit
http://www.VancouverMortgageBroker.comAbout Verico Synergy Mortgage Inc.:
Based in Vancouver, Verico Synergy Mortgage Inc. specializes in the financing and refinancing of residential real estate. Independently owned, the boutique firm is made up of the VERICO broker’s network, a national coalition of Canada’s top mortgage brokers.
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Verico Synergy Mortgage Inc.
Jack Almeida
(949) 436 1290
contact@1111media.comSource:
EmailWire.Com 
