Borrowers Decisions

The most prevalent are fixed rate mortgages where the payments are both principal and interest.

30 year mortgages are common although the current low interest rate environment has resulted in an increase in shorter tenors.

  • Interest type:
  • Fixed, floating or hybrid
  • Payment type:
  • Principal and interest or interest only
  • Current interest rates (purchase or refinancing)
  • Tenor (various including 15 year and 30 year)
  • Cash contributed to property purchase (equity)
  • Loan to property value (LTV) < 80% - standard
  • LTV > 80% requires borrower to buy insurance
  • Cash paid at closing (fees, points, etc.)

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