Realty Executives of Simcoe Inc. Brokerage


Broker of Record (705) 727-6777


Mortgages And You  *2.99% for Five Years,  Variable rates: Prime less .5%-.7%
  • Get an Application in for a 90 day rate Hold.
  • Did you Stress Test your Mortgage?
Do you have excellent credit history and solid job stability - yet unable to build savings for a down payment?  Let me Help You stop the “Rent Trap”.
Apply Online
Let me help you secure a record low interest rate on your next mortgage.  I can shop the best mortgage rate and product to match your needs.  Every borrower is unique and so are mortgages.   I have access to over 67 lenders.
Upon getting close to your mortgage renewal date is the time to start thinking..."Could I get a better rate".
Call me for a Second Opinion.  Don McAskin, Mortgage Broker  705 727-6777,
If you are locked into a closed mortgage, you may want to break your current mortgage contract and negotiate a new mortgage at a lower rate. Some agreements do not allow for a mortgage to be renegotiated, but most do. Financial institutions will usually allow you to pre-pay your mortgage in full, but will add a penalty.
How penalty charges are calculated
Your penalty charges depend on what was stated in the original mortgage agreement or in the most recent renewal agreement that you signed.  If your agreement allows you to pay off or renegotiate your mortgage early, you will normally have to pay a penalty.
The penalty is generally the greater of:
1) three month's interest on your current mortgage, calculated as follows:
                     (A  x  B/12)  x 3 months  = Penalty
  • A is the outstanding amount on your mortgage
  • B is the annual interest rate on your mortgage


2) Other Possible Penalty calculation is the interest rate differential which can be calculated as follows:         

                      ( (A x B-C)/12)   x  D

A is the outstanding amount on your mortgage
B is the annual interest rate on your mortgage
C is the current mortgage rate for a term similar to what is left on your existing mortgage
D is the number of months left to the end of your term 
Rates are at record Lows, now is a great time to get a pre-approval.  Get a pre-approval now! 
Don McAskin, Mortgage Broker 
Verico The Mortgage Wellness Group
Mortgage Broker License #M09001678  705 727-6777 


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