A mortgage broker is a licensed professional, approved through our governing body, FSRA who helps borrowers find and apply for the best mortgage options available to them. They work with multiple lenders to find the best rates and terms for the borrower’s specific needs.
A mortgage broker acts as a middleman between the borrower and the lender, while a bank is the lender itself. Mortgage brokers have access to multiple lenders and can shop around for the best rates and terms for the borrower, whereas a bank only offers its own products. Mortgage Brokers also have direct access to alternative lenders, reserve mortgage lenders, private lenders and other specialty and niche products.
Mortgage brokers are typically paid by the lender, through a commission on the loan amount. They may also charge the borrower a fee for their services, but this is mainly in the alternative, private and Commerical lending space. Fees are very rarely if ever charged on “A” loans which are institutionally offered.
As a Canadian mortgage brokerage, we offer a wide range of mortgage options, including fixed and variable rate mortgages, as well as special programs for first-time home buyers, self-employed individuals, new to Canada, investors, high net worth, reverse and those with less-than-perfect credit.
The qualifications for a mortgage will vary depending on the lender and the specific loan program. Generally, borrowers will need to have a good credit score, a stable income, and a down payment. With this being said, its always good to ask for a free consultation as there are exceptions to the above noted.
To apply for a mortgage through our website, you will need to fill out a short application form and provide some basic information about yourself and the property you are looking to purchase. One of our mortgage specialists will then contact you to discuss your options and guide you through the process.
The mortgage approval process can take anywhere from a few hours to a few days, depending on the lender and the complexity of your application. Our mortgage brokers will work with you to ensure that the process is as smooth and efficient as possible.
Yes, we can help borrowers with less-than-perfect credit find the best mortgage options available to them. We work with a variety of lenders who specialize in working with borrowers with bad credit.
Mortgage rates can fluctuate on a daily basis and also depend on the lender and the terms of the loan. The best way to find out the current mortgage rates is to contact our team, so that we can provide you the most current rates and the options available to you.
To increase your chances of getting your mortgage application approved, you should have a good credit score, a stable income, and a solid down payment. Our mortgage brokers can also help you prepare your application and ensure that all the necessary documentation is in order which dramatically increases the likelihood of approval.
To get the best mortgage rate, you should shop around and compare rates from multiple lenders. In addition, you should ensure you are working with the right mortgage broker/brokerage. Our size and scale is also part of the reason we can provide you with terms not available to all mortgage brokers and brokerages and terms not available to all mortgage brokers and brokerages. Our mortgages brokers have access to a wide range of lenders and can help you find the best rates and terms to suit your specific needs because of our size and scale.
The amount of down payment you need will vary depending on the type of mortgage and the lender. In Canada, the minimum down payment for a home is 5% of the purchase price up to $500,000. Over $500,000 up to $999,000 you require 10%. $1,000,000 plus requires 20% down. Our mortgage brokers can help you explore the different down payment options available to you.
The decision between a fixed and variable rate mortgage will depend on your personal financial situation and risk tolerance. Our mortgage brokers can help you understand the pros and cons of each option and find the best fit for your needs.
Closing costs are the various fees and expenses associated with purchasing a home. These can include things like appraisal fees, title insurance, land transfer tax and legal fees. The exact amount you will pay will depend on the specific details of your purchase, but our mortgages brokers can provide you with an estimate of what to expect. You can also download My Mortgage Toolbox which is free and provides all the associated costs with purchasing real estate in Canada.
Yes, our brokerage can help you with the entire mortgage process, from pre-approval to closing. Our experienced brokers will guide you through the process, answer any questions you may have, and ensure that your application is completed correctly. We work with a variety of lenders to find the best rates and terms for your specific needs. We are also available post closing and for the life of your mortgage to provide continually advise, support mortgage renewals and equity take outs.
Yes, we do offer a secure online application and document submission options for your convenience. Our online platform is secure and user-friendly, allowing you to easily apply for a mortgage and submit any necessary documents from the comfort of your own home.
Our mortgage brokers are available to assist you during regular business hours and also offer flexible scheduling for consultations and meetings, including weekends and evenings. You can contact us through phone, email, or through our website and we will be happy to schedule a time that works best for you.
Our brokers will keep you updated throughout the entire process, providing regular updates on the status of your application and any next steps that need to be taken. We will also be available to answer any questions you may have and address any concerns you may have. We also have an option from our online mortgage application to follow along and be updated as the status of your mortgage changes!
After the closing, our brokers will still be available to answer any questions you may have and provide you with any ongoing support you may need. We also offer services such as mortgage renewal, refinancing and equity access options for the future.Q: How can I make sure I don’t get scammed when buying a home?
The decision between renting and buying a home will depend on your personal financial situation, future plans, and lifestyle. Our brokers can help you evaluate the costs and benefits of each option and find the best fit for your needs.
Yes, it is possible to buy a home with bad credit, but it may be more difficult to get approved for a mortgage. Our brokers can help you explore the different options available to you and find the best fit for your needs.
To improve your credit score, you should pay your bills on time, keep your credit card balances low, and avoid applying for too much credit at once. Our brokers can provide you with additional tips and advice on how to improve your credit score.
Our brokerage is dedicated to providing our clients with the best possible service. Our team of experienced brokers has access to a wide range of lenders and can find the best rates and terms to suit your specific needs. We also provide pre-approval, so you can have peace of mind knowing how much you can afford to spend on your dream home. In addition, our brokers are knowledgeable in all types of mortgages, whether you’re a first-time home buyer, repeat buyer, investor, high net worth client, self-employed individual, or looking to refinance.
Our brokerage can help you apply for a mortgage as a high net worth client through our online platform or by scheduling a consultation with our high net worth specialist, Scott Westlake email@example.com
Yes, our brokers have experience with private and non-conventional mortgages and can help you find the best options for your specific needs. Whether you are looking for a private mortgage, a bridge loan, or a non-conventional loan, our brokers can help you find the best options and guide you through the process.
Yes, our brokers have experience with complex financial structures and multi-property mortgages. We can help you structure your loans to maximize tax benefits and minimize risk. We also have experience working with high net worth clients and can help you find the best options for your specific needs.
Our brokerage is committed to ensuring discretion and confidentiality for all of our clients, including high net worth individuals. We understand the importance of privacy and will work to protect your personal information throughout the mortgage process. Our brokers also have experience working with high net worth clients and understand the need for discretion and confidentiality.
Yes, as a high net worth client, you may be eligible for exclusive mortgage products and rates. Our mortgage brokers have access to a wide range of lenders and can help you find the best options to suit your specific needs, including very niche products, some of which are only available to our office. To list a couple options, include business for self lending for high net worth clients, filing lower personal income but have strong business financials or deposits, net worth lending for clients with good liquid investments and equity mortgages.
As a high net worth individual, working with a mortgage broker can provide you with a wide range of benefits. Our mortgage brokers have access to a variety of exclusive mortgage products and terms that may not be available to the general public. Additionally, our high net worth specialist, can help you find the best loan structure to suit your unique financial situation, whether you are looking to purchase a luxury property, invest in real estate, or access equity through a reverse mortgage or private mortgage.
Real estate professionals and referral sources would want to work with our brokerage because of our reputation for providing excellent service to our clients. Our team of experienced brokers has access to a wide range of lenders and can find the best rates and terms for our clients, ensuring a smooth and successful transaction. We also provide pre-approval, which gives our clients peace of mind knowing how much they can afford to spend on their dream home. Our brokers also stay up-to-date on the latest mortgage products and rates, ensuring that we are always offering the most competitive options. Additionally, We have a proven track record of closing loans on time and providing a high level of customer service to our clients which will make their job as a realtor or referral source much easier and efficient.
Our brokerage makes the mortgage process easier for our clients by providing personalized service and guiding them through the entire process. Additionally, we offer the entire service electronically and with flexible hours should you require support. Our brokers are available to answer any questions you may have and ensure that your application is completed correctly. We also provide fully underwritten pre-approvals, which gives you peace of mind knowing how much you can afford to spend on your dream home.
Our brokerage offers a wide range of advantages, including competitive rates, personalized service, and access to a variety of lenders. We also provide pre-approval, which gives you peace of mind knowing how much you can afford to spend on your dream home. Our brokers are knowledgeable in all types of mortgages, whether you’re a first-time home buyer, repeat buyer, investor, high net worth client, self-employed individual, or looking to refinance.
Our brokerage offers personalized service and can help you navigate the complex process of getting a mortgage. Our brokers are dedicated to finding the best mortgage options for your specific needs and are available to answer any questions you may have. We also stay up-to-date on the latest mortgage products and rates, ensuring that you have access to the most current and competitive options.