Today's
investor has no shortage of investment options to choose from. At Fiscal
Agents we believe that an informed investor is our strongest asset and
as such, our financial advisors have an open-door approach to the financial
services marketplace. We can help guide you through many types of investments
decisions.
We believed
so strongly in our mission to make money management easy for our clients
that we went and had it registered as our Trade Mark - Money Management
Made Easy®.
We want
you to profit from our research. This
section provides a base reference source of investment products in a
simple format. The information outlined below is provided to give an
overall illustration of parameters that may be in effect for this investment
product.
Investment
Product
P r o f i l e r: |
Mortgages |
| Questions
to Ask: |
Answers
you may find: |
| First
Mortgage Type/Term: |
Closed 6 months, 1 - 5 years.
Fixed Rate Open 6 months, 1 or 2 years.
Variable Rate Open 6 months, 1 or 2 years. |
| "Open"
Periods in a Fixed Term Mortgage (excluding NHA): |
Yes. Example: A 5 yr term after 3 years with no replacement mortgage-
a fee of 3 months interest on IRD. |
| Convertible
features - Does feature appear in document: |
Yes, available to borrower who currently has a 6 month closed mortgage.
To convert to a new fixed rate closed term mortgage of 1 year or longer;
No administration fee. |
| Pre-approval: |
Yes |
| Second
Mortgages: |
Yes |
| Refinance
using an amendment agreement: |
Yes, 80% of appraised value less amount of mortgage owed if property
other than acreage, condominium or revenue property, otherwise 75%.
|
| Amortization
Period: |
Up to 25 years |
| Appraisal
Fee: |
$125.00 - $200.00 (Approximately) |
| Commitment
Period - Existing: |
90
days |
|
Renewals: |
30
days (handled by the branch) |
| New
Construction: |
120
days |
| Switch
In: |
90
days |
| Refinance:
|
90
days |
| Pre-approval:
|
90
days |
| Any
rate drop automatic / fee: |
No |
| When
is final rate set: |
Date the funds are advanced. |
| Interest
Adjustment Date: |
On 1st of the month, not more than 60 days after possession of mortgaged
property or new construction completion. |
| Interest
adjustment deducted from advance: |
No, if funds are disbursed on interest adjustment date. |
| Gross
and/or Total Debt Service Ratios: |
Gross - 30%
Total - 40% |
| Annual
Percentage Prepayment: |
Open mortgages; any amount any time.
Closed mortgages; up to 20% of original mortgage amount, once per
calendar year several payments during the year that do not exceed
20% of original mortgage amount. |
| Skip
payment option: |
Not offered |
| Prepayment
Cumulative: |
Yes (see "Annual Percentage Prepayment") |
| When
does privilege begin: |
N/A |
| Monthly
Payment Increase: |
Open mortgages; any amount any time. Closed mortgages; lump sum of
up to 20% of original mortgage amount, once per calendar year. |
| Renewal
Before Maturity / Fee: |
Yes, on open or closed mortgages once per calendar year - No fee
Subsequent early renewals, $85.00 fee each renewal. |
| Renewal
Fee at Maturity: |
No |
| Automatic
Renewal: |
No - Mortgage renewal agreement must be signed. |
| Portable
Mortgage/Fee: |
Yes - No fee |
| Portability
written into Mortgage document: |
Yes |
| Payment
Choices: |
Monthly, semi-monthly, bi-weekly, weekly. |
| How
are weekly & bi-weekly payments calculated: |
Monthly multiplied by 12 and divided by 52 for weekly, or divided
by 26 for bi-weekly. |
| Fee
to change Payment Option: |
No |
| Finders
Fee: |
No |
Discharge
Fee:
(where applicable) |
No |
| Cost
of early payout: |
Interest rate differential or 3 months interest, whichever is lower.
|
| Statement
/ Fee: |
Yes, upon request - No fee. |
| Mortgage
Life Insurance: |
Offered by The Life Insurance Co. (optional) |
| Mortgage
Disability: |
Offered by The Life Insurance Co. (optional) |
| Property
Tax Account: |
Yes |
|
Overdraft Rate: |
Current interest rates |
| Mortgage
Assumption / Fee: |
Yes - $65.00 |
| Transfer
In Fee: |
Yes - $55.00 |
| Transfer
Out Fee: |
Interest rate differential |
| Reimbursement
of transfer out fee paid to customer by new lender: |
No |
IP-Profiler - Other Banking Services
