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Private Mortgages fund alternative real estate property loans which do not qualify under standard guidelines. Mortgage Brokers Vancouver default rates often correlate strongly with unemployment levels based on CMHC data. Independent Mortgage Advice from brokers may reveal suitable options those a new comer to financing might otherwise miss. The First-Time Home Buyer Incentive reduces monthly costs through shared CMHC equity without repayment. Shorter term and variable rate mortgages often allow greater prepayment flexibility compared to fixed terms. Shorter and variable rate mortgages allow greater prepayment flexibility. Lump sum mortgage prepayments can be manufactured annually up to a limit, usually 15% in the original principal amount. High-ratio mortgages over 80% loan-to-value require mortgage insurance and have lower maximum amortization.

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