High Ratio Mortgages in PEI

Don’t estimate Prince Edward Island just because it is the smallest of the Canadian provinces. Not only does it house some of the hardest working people in the country, it also presents one of the most significant opportunities for growth with regards to buying a house. When it comes to buying a home, one must be smart and efficient. Since PEI is so high in demand when it comes to purchasing a housing property, one of the smartest ways to acquire a house is through securing a high ratio mortgage. High ratio mortgages are mortgages that don’t require a 20% downpayment, making it much more practical for individuals who have trouble saving up such a bulk investment. Also, it should be mentioned that in order to qualify, you’ll need to take out mortgage insurance since the lender is taking an increased risk.

Getting a high ratio mortgage is simpler than you might expect. Through Smarter Loans, you’ll be able to apply for high ratio mortgages without exerting too much energy or wasting too much time.

The way this is made possible is by accessing a directory that we’ve prepared and is inclusive of of the best companies that offer high ratio mortgages. This directory is easy to use and the list of mortgage companies it displays, are based out of Prince Edward Island and have a long track record of successfully backing countless other mortgage applicants.

In this directory, once you’ve identified a mortgage company that works for you, simply click “apply now” beside their name in order to apply. After you fill out the application if all goes well, then you’ll be able to get approved for your desired high ratio mortgage sooner than later. Alternatively, you also have the option to click “pre-apply”. If you click this, Smarter Loans will do the heavy lifting for you in the sense that we’ll arrange for you to be paired up with a high ratio mortgage.