The Home Front Blog
How Record Low Mortgage Rates Can Help You
December 4, 2020
Interest rates are dropping and mortgage rates are now as low as 0.99%! This is considered a first in Canadian history for bank-advertised rates.
What does this mean for you? Lower mortgage payments reduce the barriers to home ownership and can help potential homebuyers qualify for a new home that may better fit your family.
If you’ve been renting and waiting for your chance, this makes now a great time to get in the new home market!
Here’s a simple example. Say you want to purchase this $350,000 designer duplex. With a 5 year fixed term, 5% deposit and 25 year amortization, here’s what your monthly payments could be like.
- Monthly payment at 2.75% = $1531
- Monthly payment at 0.99% = $1251*
To find out how much you qualify for, get in touch with your mortgage professional to work out the details. You can also contact one of our team members and we’ll refer you to one of our preferred lenders.
* Home price includes applicable taxes. Default mortgage insurance is required for purchases with less than a 20% deposit. Actual monthly amount may vary. Consult your mortgage professional for details.
Browse, Chat, Buy
From the comfort and safety of your home, Rohit has more ways than ever for you to connect with us and start your search!
- Browse: As you browse our website, don’t forget to check out the virtual tours that bring our showhomes and models to life. And with our new My Rohit Home app, you can find and view all our available homes in Alberta from the palm of your hand.
- Chat: Connect with us via live chat and get answers directly from our sales professionals from 9am – 9pm, 7 days a week.
- Buy: Our buying process is fully electronic so your sales representative can walk you through via video conference, phone, or email. Whatever works best for you.
Ready to get in sooner rather than later? Get in touch with us to find out more about our under construction homes in Edmonton, Calgary and Regina.
Contact us now.