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Waiting for mortgage rates to drop? Lock in 4.9% for 3 years
Price in the refinancing benefits without the hassle. Early repayment fee applies for the first 3 years.
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Price in the refinancing benefits without the hassle. Early repayment fee applies for the first 3 years.
Early repayment fee is charged when you pay off the mortgage in less than 3 years. The exact amount is assessed at the time of prepayment, and is calculated with the Interest Rate Differential formula. It is very similar to the "closed mortgages" in Canada.
We can close as fast as 3 business days.
The maximum amount you can borrow is determined by your downpayment and DTI (debt-to-income ratio). Industry standards suggest your total debt should be 36% of your income and your monthly mortgage payment should be 28% of your gross monthly income.
We offer the same discounted rates to conventional and jumbo loans.
If your loan from SyntheticFi is in a floating rate period, your interest rate will reset every 6 months based on a base rate plus an additional spread. Standard floating rate is base rate + 2.75%.
SyntheticFi uses SOFR rate as base rate. SOFR rate stands for Secured Overnight Financing Rate.
Schedule a video call with one of our licensed professionals.