With the new Government of Canada qualifying terms for mortgages, as of April of 2010, your best bet to maximize your purchasing power is a 5-year fixed term mortgage.

All other selected terms including variable rate mortgages use a benchmark rate for qualifying, established by the Bank of Canada. It is often more than > 1% higher than the best 5 year rate.

Check out the difference for yourself using our self serve maximum mortgage calculator.

A family with a household income of $90,000 can qualify for a $404,000 using the benchmark rate and a $490,000 approval with a 5-year fixed rate. You can find our best 5-year rate and the benchmark rate when you complete the maximum mortgage calculator at www.origingroup.ca/calc-mmc.html

Rules & Regulations Origin’s Fall Promotion runs from Monday September 20th through to Friday December 10th 2010. To qualify for the $50 Visa gift card, a client must obtain a condition - free mortgage approval within 10 business days of starting their mortgage application with an Origin Advisor. All clients obtaining a mortgage approval with an Origin Advisor will have their name entered into the bi-weekly draw for electronic prizes. Only one winner per family. Winners of draw prizes must give permission for their name and photo to be used for promotional purposes during and after the campaign.

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