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My Rates

6 Months 3.14%
1 Year 3.04%
2 Years 3.19%
3 Years 3.39%
4 Years 3.54%
5 Years 3.59%
7 Years 4.04%
10 Years 4.24%
6 Months Open 6.70%
1 Year Open 3.95%
*Rates subject to change and OAC
AGENT LICENSE ID
M16000500
BROKERAGE LICENSE ID
12060
Jennifer Di Francesco Mortgage Agent

Jennifer Di Francesco

Mortgage Agent


Phone:
Address:
403-2800 Skymark Avenue, Mississauga, Ontario

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Be PREPARED in today's market!

 

Paperwork Required for your Mortgage Application

 

Reduce your stress by gathering all documentation required ahead of time. Being ready will relieve you mentally and free you up to concentrate on last-minute details.

1. Identification: 2 pieces of ID (one must be photo ID, typically Drivers License)
2. Employment details: Proof of income, T4 slips, copies of your last 3 paystubs, T1 generals (personal income tax returns), years Notice of Assessments, employment letter from your company stating position, length of service and salary.
3. Self-employed: Talk to your accountant or bookkeeper for these reports. Incorporation documents, if applicable, financial statements of the corporation for the last two to three tax years, full personal tax returns, Notice of Assessments for both the corporation and personally, Lender may also ask to see portions of your books, such as General Ledger or Profit & Loss statements.
4. Other sources of income: Pension, rental income, part-time work, etc. You’ll probably be asked for copies of your tax returns, or copies of paystubs or rental income documentation.
5. Already own property?: Copy of the mortgage statement on your current property, copy of last year’s property tax statement, this year’s up-to-date property tax statement.
6. Current banking information: Including bank, branch, accounts and balances.
7. Verification of down payment: Bank account statement where money is currently deposited or a letter from a family member stating that the money is a loan or gift.
8. Consent to credit history search: Sign an authorization form allowing them to pull your credit history.
9. List of debts (otherwise known as liabilities) and List of Assets: Provide a list of what is owed, to whom you owe it to and what monthly payments, if any, you put towards paying down the debt, List should include student loans, credit card balances, car loans, monthly lease (or lease-to-own) arrangements and personal loans, lines of credit. Provide a list of everything you own, savings, investments, properties, etc... anything that shows your personal and business worth.
10. Copy of the listing: MLS listing and include this in your mortgage documentation package.
11. Copy of purchase document: The Purchase and Sale Agreement, signed document that states the address, what’s included/excluded and the price, deposit and down-payment you agreed to.
12. Condo or Townhome documentation: Condo corporation’s financial statements and status certificates.
13. Rural property: Certificate for the well and/or septic tank if you’re property isn’t on municipal water and sewer.

14. Multi-Residential/Commercial/Industrial/Builder: Typically lenders need to know more about the borrower ie. business structure, bio, etc., property i.e. appraisal, environmental test, etc., and project i.e. business plan, financials, etc.

 

This list is subject to change at any time and subject to individual Lender requirements.

Financing based On Approved Credit.

 

Click on APPLY NOW above to start your application!


BLOG / NEWS Updates

Bank of Canada raises overnight rate target to 1 ½ per cent

The Bank of Canada today increased its target for the overnight rate to 1 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1 per cent. The Bank expects the global economy to grow by about 3 per cent in 2018 and 3 per cent in 2019, in line with the April Monetary Policy Report (MPR). The US economy is proving stronger than expected, reinforcing market expectations of higher policy rates and pushing up the US dollar. This is contributing to financial stresses in some emerging market economies. Meanwhile, oil prices have risen. Yet, the Canadian dollar is lower, reflecting broad-based US dollar strength and concerns about trade actions. The possibility of more trade protectionism is the most important threat to global prospects. Canadas economy continues to operate close to its capacity and the composition of growth is shifting. Temporary factors are causing volatility in quarterly growth rates: the Bank projects a pick-up to 2.8 per cent in the second quarter and a moderation to 1.5 per cent in the third. Household spending is being dampened by higher interest rates and tighter mortgage lending guidelines. Recent data suggest housing markets are beginning to stabilize following a weak start to 2018. Meanwhile, exports are being buoyed by strong global demand and higher commodity prices. Business investment is growing in response to solid demand growth and capacity pressures, although trade tensions are weighing on investment in some sectors. Overall, the Bank still expects average growth of close to 2 per cent over 2018-2020.

Multi-family dwellings reach record high

The value of permits issued by Canadian municipalities increased 4.7% to $8.2 billion in May. This followed a 4.7% drop in April, the only month this year where municipalities reported a total value below the $8.0 billion mark. In the residential sector, municipalities issued $5.5 billion worth of permits in May, up 7.7% from April. This was the second-highest value on record, following the $5.7 billion worth of permits issued in October 2016. Five provinces posted increases, with Ontario and British Columbia reporting the largest gains. The multi-family dwelling component reached a record high in May, with municipalities issuing $3.1 billion worth of building permits. The increase was the result of higher construction intentions in British Columbia, Ontario and Alberta. The value of single-family dwelling permits also rose in May, up 6.2% from the previous month to $2.5 billion. This was the first increase following four consecutive monthly declines. Ontario led the seven provinces that registered increases. Municipalities approved the construction of 21,344 new dwellings in May, up 6.6% from April. The rise was mainly attributable to multi-family dwellings, up 7.4% to 15,983 new units. Single-family dwellings increased 4.3% to 5,361 new units.

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