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B2B Bank Mortgage of february 2023

Apply for Mortgage from B2B Bank verified by our specialists. On 08.02.2023 you have access to 7 home loans with a low rate. Increase your chances of getting money — fill out a multi-application with a free credit rating check.

Offers: 7

Updated
30.12.2022
12:32
Homeowner’s Kit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.72% to 6,93%
Term
i

Loan term for the financial product

30 years
Net Worth program
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.72% to 6,93%
Term
i

Loan term for the financial product

30 years
Equity program
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.72% to 6,93%
Term
i

Loan term for the financial product

25 years

Get 1% cashback on your mortgage value (Up to $9,250*) mortgage cashback

Business-for-self mortgages
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.72% to 6,93%
Term
i

Loan term for the financial product

30 years
Vacation/secondary home mortgages
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.72% to 6,93%
Term
i

Loan term for the financial product

25 years
Rental property mortgages
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.72% to 6,93%
Term
i

Loan term for the financial product

25 years
Standard Residential mortgages
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.72% to 6,93%
Term
i

Loan term for the financial product

30-35 years

Calculate the mortgage
Loan amount
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Loan amount

CAD
CAD
USD
50000 C$
5000000 C$
Down payment
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Specify the percentage of the down payment

%
C$
5
50
Your loan amount
C$
Loan term
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Specify the loan term for the calculation

years
months
1
25
Interest rate
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Choose the interest rate on the loan

4 %
6 %
Type of payments
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Online application for a mortgage

Mortgage amount:
200000 C$
2500000 C$
Term:
5
30 years
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Loan amount
0 C$
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0 months
Monthly payment*
40 383 C$
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Types of mortgage loans

GoDay
1.6
JUDGEV
JUDGEV
26.05.2022 at 15:46
the application is easy and takes less then 5 mins to fill out. but the funding time is quite long. if looking for instant funding then its not here...
Review
B2B Bank Mortgage of february 2023

Types of B2B Bank mortgages

B2B Bank provides both fixed and variable-rate mortgages. Variable-rate mortgages are available for three and 5-year terms, ranging from 4.72% to 4.73%. The terms for fixed-rate mortgages range from 6 months to 10 years. Depending on the term, the fixed rates range from 5.56% to 6.93%, with higher rates applied to open mortgages.

Based on the property type and borrowers’ financial situations, B2B Bank offers a range of mortgage solutions.

  • Standard Residential mortgages. Standard residential mortgages from B2B Bank are good for purchasing residential properties, refinancing, or transferring an existing mortgage. 1-4 unit owner-occupied properties are eligible for standard mortgage options. The maximum amortization term is 25 years for insured and alternative non-conforming mortgages, 30-35 years — for conventional mortgages, and 30 years — for alternative conforming mortgages.
  • Rental property mortgages. To finance a rental property purchase, there are insured, conventional, and alternative mortgage options at B2B Bank. 2–4 unit properties qualify for an insured mortgage, while 1-4 unit properties are eligible for conventional and alternative mortgages. The maximum amortization term is 25 years.
  • Vacation/secondary home mortgages. Insured, conventional, and alternative mortgages from B2B Bank can also help purchase vacation or secondary homes. The eligible properties for an insured mortgage are owner-occupied second or vacation homes. For a conventional mortgage, the eligible properties are 1-2 unit second homes or 1-unit vacation homes. For alternative mortgages, the eligible properties are 1-2 unit second homes. The maximum amortization term is 25 years.
  • Business-for-self mortgages. Sometimes, self-employed applicants may not qualify for traditional mortgage options. Therefore, B2B Bank offers financing options tailored to their unique situations. With these financing options, self-employed borrowers can purchase a 1-4 unit owner-occupied property, 1-2 unit second home, 1-unit vacation home, or 1-4 unit rental property. The maximum amortization term can be up to 30 years.
  • Equity program. Under the Equity program from B2B Bank, salaried or self-employed applicants that might not meet standard requirements can get financing for buying a 1–4 unit owner-occupied residential property. The maximum amortization term is 25 years.
  • Net Worth program. The Net Worth Program from B2B Bank allows applicants to get financing to purchase 1-4 unit owner-occupied and rental properties, 1-2 unit second homes, or 1-unit vacation homes. To qualify for such a mortgage, a borrower must have a sufficient credit score, moderate income, and a minimum of $150,000 in liquid assets. In addition, the maximum amortization term is 30 years.
  • Homeowner’s Kit. With a Homeowner’s Kit from B2B Bank, a borrower can get two lending solutions: a mortgage and a Home Equity Line of Credit (HELOC). The eligible properties for a Homeowner’s Kit are 1-4 unit properties, either new constructions or existing ones, and owner-occupied properties. A mortgage portion features flexible repayment schedules, with an opportunity to choose from monthly, weekly, bi-weekly, accelerated weekly, or accelerated bi-weekly payments. A HELOC portion involves monthly interest payments only. The maximum amortization term for a mortgage portion is 30 years. HELOC doesn’t have a maximum amortization term since it is a revolving credit.

How to apply for a B2B Bank mortgage?

B2B Bank mortgages are available through B2B Bank’s partner brokers. Upon assessment of your borrowing needs, your mortgage broker will submit a mortgage application to B2B Bank on your behalf.

Requirements

To qualify for a B2B Bank mortgage, you must be a Canadian citizen or resident of the age of majority in your province or territory. To submit a mortgage application to B2B Bank on your behalf, your mortgage broker must have the following documents handy:

  • Purchase and sale agreement
  • Proof of down payment 
  • MLS listing (if applicable) 
  • Letter of Employment and current pay stub 
  • T4s/T1s and corresponding Notices of Assessment (NOA) for the most recent two years 

Pros and cons

B2B Bank mortgages have definite advantages:

  • Financing options for clients with both traditional and non-traditional circumstances
  • An opportunity to choose between a fixed and variable interest rate
  • An opportunity to choose between an open and a closed mortgage terms
  • Prepayment privileges available for certain financing options

Here are the disadvantages to be aware of:

  • Mortgage repayment before the maturity date involves prepayment penalties
  • Rates are subject to change without a prior notice
  • B2B Bank doesn’t have a mobile banking app to manage a mortgage account on the go

How to make a payment

B2B Bank mortgage payments will be in the form of pre-authorized debits from your B2B Bank account.

FAQ

How do I find a mortgage broker?

To find a mortgage broker, you can ask for recommendations from people you trust. Or, you may check the association of mortgage professionals.

Will I receive any mortgage account statements?

You will receive annual statements from B2B Bank as a mortgage client. These statements will contain information about all payments made throughout the year, the interest rate, opening and closing balances, and principal and interest payments.

Is it possible to cancel a previously requested mortgage payment deferral?

B2B Bank encourages clients to cancel a mortgage payment deferral once their financial situation improves. To cancel your mortgage payment deferral, reach out to the B2B Bank customer service department at 1-800-263-8349.