Don’t be afraid to contact all of your credit providers and ask for assistance during these challenging times: credit card providers, utility providers, vehicle leasing providers .. just to name a few.
The Government relief programs applications have been made available online. Follow this link to get more information on all programs.
Transferring your mortgage to a lower rate could save you thousands of dollars, not only in your monthly cash flow by reducing your payments, but also the outstanding balance at the end of your term. Rates starting in the low 2’s%.
Add an Equity line of credit to your home for emergencies.
– New to Canada
– Equity take out
– Second Homes
– Construction Financing
– Commercial loans
– Bridge Loans
– Private Loans
– Second Mortgages
The overnight lending rate is 0.25%. Some are saying that this is the “lowest” it will go, but I wouldn’t be so sure. Historically, in other parts of the world, we have seen negative overnight lending rates. Never say never.
Stay connected to your family, friends and neighbours during this difficult time!
Senior Lending Advisor
Compass Mortgage Group