Our Services
The top rated service model that starts with our first interaction, and ends when you're mortgage free
1. Our Robust Mortgage Process
From start to finish, we follow a very strict process. Starting with an efficient online application, to our streamlined underwriting process, automatically matching you with the optimal lending solution, to our expedited closing process.
2. Strong Focus on Client Satisfaction
Our goal is to achieve a 5 star experience, every time. Our carefully constructed systems ensure that every client well informed, educated, and provided the best possible solution for their needs. This is everything to us, and we do everything to make it happen.
3. Dedicated, Focused Follow-up
We take it upon ourselves to provide clients with the insights to maintain financial success for the long term. Through monthly home digests, to market updates, and consistent outreach, you’ll always have the information you need. This is how we truly go above and beyond.
Home Purchase solutions
Focusing on mortgage rates, buying power, long term and short term goals, maximizing pre-approvals, and speed of service to give you the competitive edge
Pay off debt or invest
Refinancing services in order to consolidate debt, increase monthly cashflow, fund renovations or large purchases, and buying investment properties
Mortgage Renewal Services
A full renewal review going over mortgage rate options, alternative lenders, how to reduce costs to maintain low payments and increase financial sucess
Alternative Financing options
Mortgage solutions for self-employed individuals, first-time homebuyers, real estate investors, and more with over 60 lending insitutions and the best mortgage rates
Self-Employed Mortgages
If you own your own business, you shouldn’t be denied a mortgage. Take it from a fellow business owner. For all your financing needs, we have solutions that fit your unique income.
First-time homebuyers
Our first time buyer solutions and knowledge of the many incentives available will give you a competitive edge when seeking our your first home. A rewarding experience deserves the best mortgage service
Full Pre-approvals
Completing a full pre-approval is the best way to enter the housing market with a competitive edge, a narrow focus, and a plan from start to finish. completing a full pre-approval is necessary in our competitive housing market
Investing in Real estate
Building your portfolio has never been easier. Utilizing our investor friendly service, we understand the difference between buying, and investing. Our wide array of mortgage solutions fit nearly any form of real estate investment.
By your side through it all
Keeping our clients well informed
The systems we’ve compiled into our mortgage service are like no other. We keep our clients well informed through comprehensive home digests sent out monthly, which include rate updates, mortgage information, purchase affordability, potential mortgage savings, equity increases, so that you not only know how well your investment is doing, but where and when you can save more money. Clients also receive regular updates, and personalized follow-up information addressing any market changes, things to keep in mind, and term updates to keep you informed.
FAQ
What are the current mortgage rates?
When seeking information on current mortgage rates in Canada, it’s important to understand how the stress test impacts borrowing. In Canada, lenders typically assess mortgage eligibility using the stress test, which involves qualifying at a higher rate than the offered mortgage rate. This benchmark rate, currently set at 4.75%, ensures borrowers can manage payments if interest rates increase.
While knowing the prevailing mortgage rates is valuable, it’s equally crucial to recognize that individual qualification rates may differ based on factors like creditworthiness and financial stability. Lenders determine the specific rate you qualify for after evaluating your financial profile. Therefore, while browsing for rates, remember that understanding the rate you’re eligible for is paramount to securing the right mortgage for your needs.
How much of a mortgage can i qualify for?
When determining affordability, we use what is known as debt servicing ratios as well as total debt servicing ratios. to be more specific, borrowers can use 39% of their annual income to determine their monthly mortgage payment limit, and 44% of their total debts including credit card minimum payments, car payments, minimum line of credit payment, and so on. These figures are used to calculate affordability when qualifying for most products. However, although working with a mortgage agent can open the doors to extended ratio options, better budgeting solutions in order to increase affordability, as well as shop through hundreds of financing solutions to help clients qualify for the largest amount possible. Refer to our calculator link above to find out in 30 seconds
What are the first time homebuyer incentives in canada?
First-time homebuyers can receive a land transfer tax rebate. of up to $4,000 on eligible transactions. This rebate is also available for recently divorced borrowers looking to buy a home, as well as borrowers who have not owned a home in Canada for 5 years. Otherwise, there aren’t currently any first time home buyer incentives available. However, the Canadian government website will always provide the most accurate information.
What credit score is required to qualify for a mortgage in canada?
In Canada, the minimum credit score required to qualify for a mortgage typically varies depending on the lender and the type of mortgage you’re applying for. However, a credit score of 680 or higher is generally considered a good benchmark to aim for when seeking mortgage approval. It’s important to note that while credit score is a significant factor, lenders also consider other aspects of your financial profile, such as income, employment history, and debt-to-income ratio. To increase your chances of securing a mortgage, it’s advisable to maintain a healthy credit score and address any outstanding debts or credit issues.
What are the benefits of using a mortgage broker vs. going to the bank?
Choosing a mortgage broker over going directly to a bank offers several benefits for Canadian homebuyers:
- Access to Multiple Lenders: Mortgage agents work with a network of lenders, including banks, credit unions, and alternative lenders, providing access to a wider range of mortgage products and rates.
- Personalized Advice: Mortgage agents offer personalized guidance tailored to your unique financial situation and goals, helping you navigate mortgage options and choose the best solution for your needs.
- Time Savings: Mortgage agents handle the research, paperwork, and negotiations on your behalf, saving you time and effort compared to visiting multiple banks independently.
- Increased Approval Odds: Mortgage agents advocate for you with lenders, potentially increasing your chances of mortgage approval, especially if you have complex financial circumstances or credit challenges.
- No Cost to You: In most cases, mortgage agents are compensated by lenders, meaning their services come at no additional cost to you.
By leveraging the expertise and network of a mortgage agent, you can streamline the mortgage process, secure competitive rates, and make informed decisions with confidence.
What are the closing costs associated with getting a mortgage in canada?
Understanding the closing costs associated with obtaining a mortgage in Canada is crucial for homebuyers. These costs typically include various fees and expenses that arise during the final stages of the home purchase process. Common closing costs may include legal fees, appraisal fees, land transfer taxes, title insurance, and property taxes. Additionally, homebuyers may need to budget for expenses like home inspection fees and mortgage insurance premiums, depending on their specific circumstances.
It’s essential for homebuyers to anticipate these closing costs and budget accordingly to avoid any financial surprises. Working with a knowledgeable mortgage advisor can help ensure a smooth and transparent home buying experience, providing clarity on the various costs involved and helping buyers make informed decisions.
Our rule of thumb is for clients to have 1.5% of the mortgage size ready for any and all closing costs, even if not all those funds are required. We have what is called a “Cash back” mortgage option that can subsidize part or all of these costs.
Can i switch or refinance my mortgage before the end of the term?
Certainly! In Canada, homeowners have the option to switch or refinance their mortgage before the end of the term, subject to certain conditions and potential penalties. Mortgage refinancing involves replacing an existing mortgage with a new one, often to take advantage of lower interest rates, consolidate debt, or access equity in the home.
Switching your mortgage involves transferring your existing mortgage to a new lender without changing the terms of the loan. Both options offer potential benefits but require careful consideration of factors such as interest rates, fees, and financial goals.
It’s advisable to consult with a qualified mortgage advisor to assess whether switching or refinancing is the right decision for your circumstances. By understanding the options available and their implications, homeowners can make informed choices to optimize their mortgage strategy.
When is the best time to refinance my mortgage?
Choosing the optimal time to refinance your mortgage in Canada is a key decision that can have significant financial implications. While the ideal timing varies depending on individual circumstances, several factors can influence this decision.
One crucial consideration is prevailing interest rates. Refinancing when interest rates are lower than your current rate can potentially lead to reduced monthly payments and long-term savings. Additionally, changes in personal financial situations, such as improved credit scores or increased income, may also prompt homeowners to consider refinancing to secure more favourable terms.
Something that might be of interest to those considering a refinance is how a mortgage agent can maximize the success you may have in this process. By working with someone who is up to date with the market and understands the ability you have when accessing equity or unrealized equity, this can be of huge assistance to obtaining the most favourable refinance terms with the best rate.
As always, it’s essential to assess the costs associated with refinancing, such as closing fees and prepayment penalties, against the potential savings or benefits.
How do mortgage agents get paid?
Mortgage agents in Canada typically earn their income through commissions paid by lenders. So, it is very likely the services of a mortgage agent come at no cost to the client. When a mortgage agent successfully facilitates a mortgage transaction for a client, the lender compensates them with a commission based on the mortgage amount. This commission is usually a percentage of the loan value.
It’s important to note that mortgage agents work on behalf of their clients and have a fiduciary duty to act in their clients’ best interests. As such, they strive to find the most suitable mortgage products for their clients’ needs while also ensuring transparency in their compensation structure.
Additionally, some mortgage agents may charge clients service fees for specialized services or consultations, but this varies depending on the agent and the services provided.
Overall, mortgage agents’ earnings come primarily from commissions paid by lenders, emphasizing the importance of providing exceptional service and guidance to clients throughout the mortgage process.
What is the difference between a pre-approval and a pre-qualification?
Any reputable mortgage agent will only provide clients with a maximum budget after obtaining an application, all the necessary documentation, and consulting with different lenders, making the distinction irrelevant.
But for the purposes of answering the question, When you go to the bank, they ask a few questions about your income, look at credit score, and will give you a maximum budget. This should be seen as a pre-qualification. By no means does this figure accurately represent your true buying power. Without proper due diligence, providing clients with a maximum budget only to find out after the purchase agreement has been signed that the client does not qualify can turn what was meant to be an exciting process into a nightmare.
Obtaining a full pre-approval means collecting documents, completing any and all due diligence, and possessing a signed confirmation that you’ve been approved for a certain amount. This not only provides clients with the most accurate budget, but also can be the difference between having a purchase offer accepted or not by a seller in a competitve market.
