Mortgage rates too good to be true? CanWise Financial

[JDE]

Hey everyone,

I am interested if anyone has experience with using CanWise financial as a mortgage broker, or has any insight into how they can offer such low rates.

I recently purchased my first property using a local Edmonton mortgage broker, offering fair rates of about 3.1% for a 5 year variable mortgage.

Now that I am looking at purchasing a second property, I used a tool (link below) on ratehub to compare rates, and a broker company called CanWise seems to offer significantly lower rates than all other competitors - to the extent that it would save me over $100 a month in mortgage payments.

This seems to good to be true however they seem to have excellent reviews online - has anyone used them as a broker / know how can they offer such good rates?

https://www.ratehub.ca/mortgage-payment-calculator

 

[KeithnCalgary]

You are looking at High Ratio insured mortgage rates not rental property rates. You will not find rental property rates posted on rate hub or other similar sites.

Lenders apply rate premiums to rental properties.

Keith Uthe Mortgage Alliance Enrich Mortgage

Sent from my SM-G935W8 using myREINspace mobile app

 

[Thomas Beyer]

Use a mortgage broker familiar with rental properties.


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[Tina Myrvang]

REIN Finance Department - Call 1-844-411-8463 or e-mail [email protected]