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Why Come to PEIPEI - a province that holds promise! PEI was voted #1 Island Destination in North America; #1 Golf Destination in Canada. PEI, with its breathtaking landscape is an ideal final destination for all personalities, professionals, artists, realists, and dreamers. Safe, secure with fantastic beaches and a nice easy life-style, PEI is where you must invest. The wide assortment of waterfront and investment properties offers opportunities for people of all financial capabilities to find a real estate investment to match their needs and means, be it a family home, recreational property or commercial investment. PEI, where your wishes can become reality in a heartbeat. PEI is the one island province where you relocate by choice to live a life of solitude and contentment, making your wishlist a part of life. PEI is in my opinion, one of the few places where anyone can be transformed into someone in their own right. It's picturesque, tranquil ambience givs a sense of hope and refuge for even the busiest mind. This place makes it possible to achive your goals and enjoy the successes. All the things you have always wanted to do but couldn't are HERE & NOW!
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Purchasing a home is a big deal in everyone's life. making sure that you understand the costs and expenses incurred in the transaction is my obligation.
Mortgages, the importance of interest rates, and sound financial advice is the key to a smooth transaction. We do have professional mortgage brokers affiliated with our company to make the application process easier. Follow the links below to go to our Centum Financial Services website and make use of the mortgage calculators there that can help you dermine the amount of money you can borrow and your payments.
With a little creative financing, PEI real estate investment is a win-win situation. Feel free to try out the Centum Financial Calculators. They take some of the mystery out of what you can afford!
| Mortgage Analyzer | Calculate your mortgage payment. Create an amortization schedule. Discover what you will owe in 5 years. [try] |
| Mortgage Isolator | Calculate the rate, payment, principal or amortization by inputting any three known variables. [try] |
| Prepayment Analyzer | Calculate the interest savings of making extra payments to your mortgage. [try] |
| Maximum Mortgage Analyzer | Calculate the maximum mortgage amount you qualify for based on your income. A great tool for buyers! [try] |
| Payment Analyzer | Calculate the monthly, semi-monthly, bi-weekly and weekly payment option on your mortgage. [try] |
You will qualify for a mortgage based on the size of payment that you can handle comfortably considering your current financial situation. You are allowed to borrow an amount such that the monthly payment not exceed 32% of your gross income. Further all debt service including mortgage, car payments, credit card payments, alimony/child support etc must not exceed 40% of your gross income. Get a pre-approved mortgage certificate
A pre-approved mortgage certificate guarantees a specific mortgage (amount and interest rate) for a time period of 30-120 days, subject to property appraisal
A pre-approved mortgage helps you focus your house-hunting on properties that you know you can afford. A pre-approved mortgage may also give you an advantage when negotiating with vendors as they know you are serious. Your offer therefor may be more readily accepted, since it doesnt depend on securing financing later.
The following steps will be undertaken to assure that you qualify for a Mortgage:
Your Lender will require:
Your Lender will order a property appraisal and credit report.
If your down payment is less than 25%, yours will be a high ratio mortgage on which you will pay insurance premiums. You may pay the premium in cash or have it added to your mortgage. Your lender will apply to Canada Mortgage and Housing Corporation (CMHC) or GE Capital Mortgage Insurance Company of Canada (GEMI).