Sandeep  Sharma

Sandeep Sharma


Century 21 Paramount Realty Inc., Brokerage*

Email Me
Sandeep  Sharma

Sandeep Sharma


Century 21 Paramount Realty Inc., Brokerage*

Email Me

Mortgage Qualification / Interest Rates

To qualify for a mortgage loan at a bank, you will need to pass a “stress test”. You will need to prove you can afford payments at a qualifying interest rate which is typically higher than the actual rate in your mortgage contract.

You need to pass this stress test even if you don’t need mortgage loan insurance.

Credit unions and other lenders that are not federally regulated do not need to use this mortgage stress test.

If you already have a mortgage, you’ll need to pass this stress test if you:

  • refinance your home
  • switch to a new lender, or
  • take out a home equity line of credit

Mortgage Interest Rates


Prime Rate                7.20%
Qualifying Rate       Contract Rate +2%

Next rate set by Bank of Canada is on 10 April, 2024

"A" Lending Mortgage "B" Lending Mortgage "C" Lending Mortgage Private HELOC
Variable for Insured: 6.25%
Fixed for Insured: 4.94%

Variable for Uninsured:

Fixed for Conventional: 5.59%

Rental Variable:

Rental Fixed: 5.82%


"B" Lending - Rate starts from  6.49%
35 years amortization available
TDS up to 60%
Self-Employed - 6 to 12 months bank statements 
Bad/Bruised Credit
Rental Properties
Existing or Previous Consumer Proposal


"C" Lending Rate starts from 7.99%*
No documentation required
Quick Closing
True Stated income
No Proof of Down Payment
Interest only or 40 years amortization
Fully open or 3 months interest penalty
"2nd Mortgage"
Rate starts from 11.99%


No Documents Required

Quick access to Funds

1st or 2nd Position

Term 1-5 years    

75% LTV on Appraised Value


*Rates/Guidelines/products are subject to change. Closing in 90 days for 5 years best rate. *Terms and conditions apply for best rates. This is for information purpose only.  Call for clarification on each product.  Not for rentals, refinance and Low Doc Program. For live deals only. Please contact for clarification for 5% down. *Please call to discuss.** Mortgage Information Provided by: Mortgage Alliance ACTIVE LENDING


Find out for precise your mortgage / Loan Qualification

Have Questions?

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I have been helping my clients for their real estate needs for over 16 years as residential and commercial sales associate.

I understand real estate is exciting, fast paced and self-directed. I have the motivation that made it easy to choose this as my career. I love working with people, building relationships and most importantly assisting clients with the largest financial decision of their life. I provide great advice, smart negotiating and excellent knowledge of the area.

Education: Graduated in Computer Programming And OREA Course

Specialty: Residential, Commercial and Investment

Experience: 13 Years

Awards: Platinum, Gold and Diamonds Awards

Area Covered: Toronto and Surrounding Areas

Languages Spoken: English, Hindi, Punjabi, Urdu