High Ratio Switches

• Must be insured by CMHC/Genworth Financial Canada
• All terms available
• Must be owner occupied
• No Switches from Builders or Private Lenders
• No Swtiches and Increases. Otherwise it will be treated as a refinance. Penalties cannot be included in the switch
• Remaining amortization cannot be increased to original
• ING DIRECT Broker Team pays legal fees and $200.00 towards discharge fees
• No changes to title ownership allowed. The names on an application must match the names on title

Conventional Switches

• All terms available
• No switches from Builders or Private Lenders
• No switches and increases. Otherwise it will be treated as a refinance. Penalties cannot be included in the switch
• Amortization can be increased back to 35 years provided the amortization does not exceed remaining life expectancy of property, which is provided in the appraisal
• ING DIRECT Broker Team pays legal fees and $200.00 towards discharge fees charged by the other financial institution
• ING DIRECT Broker Team will pay up to $200.00 towards the cost of an appraisal