Latest Mortgage Rates
| Term | OUR RATES | Banks |
| Updated August 8, 2010 | 0.0 % | 0.0 % |
| Variable ARM | 2.05 % | 2.65 % |
| 1 Year Closed | 2.60 % | 3.75 % |
| 2 Year Closed | 3.04 % | 4.05 % |
| 3 Year Closed | 3.54 % | 4.65 % |
| 4 Year Closed | 3.74 % | 5.25 % |
| 5 Year Closed | 3.65 % | 5.85 % |
| 50/50 Mortgage 3 yr | 2.87 % | 0.00 % |
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Mortgages for Land
I can get mortgages on land for up 75% LTV through a combination of first and second mortgages. The maximum LTV will depend on serviceability and proximity to the city.
Acreage outside of the city typically has a maximum LTV of 50%, however a LTV of 65% may be possible depending on the land and its location.
Building lots in the city may qualify for funding up to 75% LTV.
See our page for farm mortgages
LTV (loan to value) is the percentage of the mortgage being taken out versus the value of the property. If you put 5% down on a property, the loan to the value of the property is 95%.
For farm land, commercial or industrial mortgages, please see commercial mortgages.
Call a mortgage broker today or apply online for more information on land mortgages today