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My Rates

6 Months 3.34%
1 Year 3.19%
2 Years 3.19%
3 Years 3.64%
4 Years 3.79%
5 Years 3.79%
7 Years 4.24%
10 Years 4.39%
6 Months Open 6.70%
1 Year Open 4.45%
*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 maintains overnight rate target at 1 ¾ per cent

The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 per cent. The global economic expansion continues to moderate, with growth forecast to slow to 3.4 per cent in 2019 from 3.7 per cent in 2018. In particular, growth in the United States remains solid but is expected to slow to a more sustainable pace through 2019. However, there are increasing signs that the US-China trade conflict is weighing on global demand and commodity prices. Global benchmark prices for oil have been about 25 per cent lower than assumed in the October Monetary Policy Report (MPR). The lower prices primarily reflect sustained increases in US oil supply and, more recently, increased worries about global demand. These worries among market participants have also been reflected in bond and equity markets. The drop in global oil prices has a material impact on the Canadian outlook, resulting in lower terms of trade and national income. As well, transportation constraints and rising production have combined to push up oil inventories in the west and exert even more downward pressure on Canadian benchmark prices. While price differentials have narrowed in recent weeks following announced mandatory production cuts in Alberta, investment in Canadas oil sector is projected to weaken further.

Largest portions of household budgets go to shelter and transportation

Shelter remained the largest budget item for households in 2017, at 29.2% of their total consumption of goods and services. Spending on transportation, the second-largest expenditure category, accounted for 19.9% of total consumption, followed by food expenditures at 13.4%. Households spent an average of $18,637 on shelter, up 3.4% from 2016. Included in this total was an average of $16,846 paid for principal residence (which includes rent, mortgage payments, repairs and maintenance costs, property taxes and utilities) and an average of $1,791 for other accommodation, such as hotels and owned secondary residences. In 2017, two out of every three Canadian households owned their home, and more than half of homeowners had a mortgage. Homeowners with a mortgage spent an average of $25,904 on their principal residence, compared with $9,642 for homeowners without a mortgage and $13,499 for renters. Canadian households paid $12,707 for transportation in 2017, up 6.7% from 2016. They spent an average of $11,433 on private transportation, which includes the purchase of cars, trucks and vans, as well as their operating costs. Households, on average, spent $2,142 on gasoline and other fuels in 2017, up 9.8% from 2016, reflecting the 11.8% annual average increase in gasoline prices. Spending on public transportation, which covers public transit, taxis, intercity buses, trains and air fares, remained relatively unchanged at $1,274. In 2017, 84.0% of households owned or leased a vehicle. Vehicle ownership was highest in rural areas (94.9%) and lowest in cities with a population of at least one million residents (79.0%).

MY LENDERS

TD Bank Scotia Bank Attain Mortgage First National MCAP Home Trust
Merix Equitable Bank Street Capital CMLS Fisgard Capital ICICI Bank
Optimum  RMG Mortgages Bridgewater Marathon Mortgages