At CityCan Financial, we have been arranging home mortgage loans in Toronto and all of Ontario for over 44 years and have placed well over 50,000 of them. With this kind of unrivaled industry experience, we know home mortgage loans inside out. As we are an independent Toronto mortgage broker, and are not affiliated with any particular mortgage lender, we will take the time to discuss your specific situation, needs and goals to find the lowest mortgage rates and product best suited to you.
At CityCan Financial, we will take the time to explain the process and give you all your options to allow you to make a more educated decision before jumping right into the first home mortgage loan your bank offers you.What most Toronto home buyers do when applying for a home mortgage loan is they visit their Toronto mortgage couple local bank, however the lowest mortgage rates are usually not found at your bank.
At CityCan Financial, we will take the time to explain the process and give you all your options to allow you to make a more educated decision before jumping right into the first home mortgage loan your bank offers you.What most Toronto home buyers do when applying for a home mortgage loan is they visit their Toronto mortgage couple local bank, however the lowest mortgage rates are usually not found at your bank.
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About Us
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Established in 1976, few mortgage brokerages in Toronto have been in the mortgage industry longer than CityCan Financial. We have placed over 50,000 mortgages and continually place over $100 million in mortgage volume annually. We work very closely with major mortgage lenders in Ontario and across Canada and we receive daily updates on the lowest mortgage rates, as well as the latest products available in home mortgage loans.
Mortgage Rates
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Some of the rates listed are for high ratio (less than 20% down payment) mortgages only. The rates listed above will not be available for all situations. Contact us to find out the lowest mortgage rate you will qualify for. At CityCan Financial Corporation, we have placed over 50,000 mortgages and have been established in Toronto for over 40 years.
1st Morgage
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Purchasing a new home can be a very exciting time for many people, and at the same time, creates an abundance of questions. We want to help to make this process as simple for you as possible by answering all your questions on home mortgage loans on these pages. The first step when shopping for your new home is to find out exactly how much you can afford and how much of a mortgage you will get approved for.
2nd Mortgage
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A second mortgage (2nd mortgage sometimes called "Home Equity Loan") is simply additional mortgage charge registered in a second position (behind your first mortgage) against the title of your home in the land registry office. You maintain your present payments on your existing first mortgage and have a new second payment for the second mortgage.
Refinance
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Refinancing can be defined as the placement of a new mortgage to pay out an existing mortgage while using the same property as collateral. This can be done with the same mortgage lender, or with a different lender. Under the new mortgage regulations announced in spring 2012, the maximum you are permitted to refinance to is now 80% of your homes value.
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