Mortgage insurance benefits

  • Homeownership on your terms. With the right preparation and resources, you can buy a home that best suits your lifestyle. Mortgage insurance provides you with innovative options to help get you into homeownership.

  • Be eligible for a better interest rate. Mortgage insurance provides a lender with the flexibility to offer you the same competitive mortgage interest rates available to home buyers with a larger down payment.

  • More down payment options. Don’t let the down payment be the barrier to your homeownership dreams. There are many mortgage insurance products that will help you to achieve homeownership. Let’s discuss the options that suit
    your situation best.

  • Buy, instead of renting. If you’re paying rent right now, it can be a good move to consider buying a home that has similar monthly carrying costs. You’ll enjoy the freedom of making your living space into your own home with your personal touch.

  • Overcome traditional barriers to financing. More and more home buyers who may not have qualified for a mortgage are benefiting from mortgage insurance — for example, those who are self-employed or work on commission. With mortgage insurance, people who have good credit but might not meet conventional lending criteria can qualify for the financing they need.

  • Own and enjoy a vacation property. If your financial situation is in good standing and you are thinking about buying a vacation property, there are mortgage insurance options that will allow you to do so. Be sure to ask us about what will work best for you.

  • Get money back on an energy-efficient home. If you purchase an energy efficient home or refinance an existing home to make energy-saving renovations, you could be eligible to receive a 10% refund on your mortgage insurance premium if your mortgage is insured with Genworth Financial Canada.

  • Save on household purchases.When buying your first home, you’ll find expenses can add up quickly. When insured with Genworth Financial Canada, you can take advantage of the Home buyer PrivilegesTM program, which offers savings on appliances, truck rentals, home-improvement materials, moving supplies, and more.

  • Take it with you when you move.If you have a mortgage that’s portable, you can transfer its terms to a new property in the future. This same option is available when you buy mortgage insurance, which can save you premiums when you move.

  • Get help when you need it.Whether from a job loss, a serious illness, or a marriage breakup, financial difficulties can arise when you least expect them. You can be sure to get the help you need to keep you in your home, with Genworth Financial Canada’s Homeowner Assistance program (when insured with Genworth). Be sure to inquire about the benefits of this program.

    This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.

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    About the Author

    Tracy Head and Laurie Baird help busy families find mortgage solutions. Together they have more than 45 years of experience in the mortgage industry.

    With today’s increasingly complicated mortgage rules, Tracy and Laurie spend time getting to know the people they work with and help them to better understand the mortgage process. They support their clients before, during, and after their mortgage is in place.

    Tracy and Laurie work closely with their clients, offering advice and options. With access to more than 40 different lenders, Tracy and Laurie are able to assist with residential, commercial, and reverse mortgages in order to match the needs of their clients with the right mortgage package.

    They work closely with their clients to find the right fit, and are around to provide support for years down the road!

    Contact them at 250-862-1806 or visit www.okanaganmortgages.com

    Visit their blog at www.okanaganmortgages.com/blog


    The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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