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Basic Overview & Qualifying Guidelines
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- AAA Rated Clients
- Excellent Credit (preferably 680+ beacon score)
- 5% down minimum (we have other programs for no money down at a different rate)
- Absolute proof of downpayment - no bulk deposits
- Excellent Job Stability (letter + paystubs)
- If self employed their 2 - 3 year NOA's showing qualifyable income!
- these are not equity deals, clients must qualify with approx. 32% gds
- 15% prepayment previlege
- Same discharge fees as regular mortgages 3 months or differential
- 30 day rate guarantees
- No Pre-Approvals - but 60 days committment period on accepted deals
- 25 to 35 year amortizations available
- no refinance - just for new deals - this is an expensive program so sutton must be receiving a commission so no private transactions. Offers/trades are checked carefully to ensure client purchased with an approved sutton member or purchased a listing from a sutton approved member
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Just a reminder to be extremely careful with this plan. Do not advertise without Broker approval - I must take all ads and have them approved by the lender before publication to comply with RECO and Financial Services Department.
DO NOT hand these out to just anybody - it may be a competitors client under Buyer Agency. It is a great program but we don't want to induce someone out of an Agency Agreement.
Here are some handy forms in Word and Publisher so you can personalize. |
Marketing Resources ALL MATERIALS NOW UPDATED WITH RATE!
****If you can't open these - click the Office Versions at the bottom of the page - they're made a bit easier to open.** Additional items will be added as they become available. |
Must Have This Disclosure When Advertising
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Legal Disclosure - Must have disclaimer on all advertising.
*Rates shown available O.A.C. at November 9, 2009. The 5-year variable/closed rate is at Prime - 0.19% = 2.06% based on the current Prime rate of 2.25%. Certain rates are applicable to purchases only. Available only to members who purchase a home through a Sutton agent registered with the Sutton Member Program except for refinance in which case the individual must be referred by a realtor member of the Sutton Member Program. Applicable mortgages only and subject to Finder Financial Services Ltd. lending criteria for residential properties. Finder Financial Services Ltd. reserves the right to discontinue this offer at any time. Terms and conditions apply. ON and BC properties only. Mortgages facilitated by Finder Financial Services Ltd. through independent lenders. FSCO# 10245
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