IK Financial Metarials
Mortgage Glossary

Mortgage 101 - Interest Rate

What is “Interest Rate”?
Interest Rate is the amount that lender charges for the use of assets expressed as a percentage of the principal for the use of its money.

It is important to know that the rates You see in advertisements may not be the rate you will end up with. Several factors that may affect your final rate:

🔹 Down payment - is it less than 20% or more?
🔹 Credit score - is it poor, fair, good, very good, or excellent?
🔹Type of mortgage - is it Your purchase of a primary, investment, or refinance?
🔹Amortization period - is it long-term or short-term?

That is why at IK Financial never promote or focus on Interest Rates alone. We first thoroughly analyze Your particular financial situation as well as Your long term and short term goals and only then we discuss available rates and options for your specific case.

If You would like to know what You may be eligible for, contact our Mortgage Agents:
Inna Bogdanov 416.268.0004 | Inna@ikfinancial.com
Katerina Markevich 416.388.8153 | Katerina@ikfinancial.com