Frequently Asked Questions

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A Mortgage Advisor is a mortgage specialist licensed by a provincial authority. 

A Mortgage Advisor is a one-stop shop for mortgages. Unlike your local bank branch, which can only offer you a mortgage (and mortgage rate) from their suite of products, Mortgage Advisor have access to many different lenders. When you make an appointment with a Mortgage Advisor, it’s like you’re making an appointment with the major banks, credit unions, and trust companies, except you only need to meet with one person. A Mortgage Advisor has access to products from multiple lenders of different shapes and sizes, which means you have access to these products as well.

Obtaining a Mortgage can be a confusing process, thats why Mortgage Brokers are here to make the experience clear and efficient. There are a couple things you will need to have to obtain a Mortgage from most Lenders:

• Canadian Consumer Credit Report
• Minimum 5% of the purchase price as a down payment or a Gifted Down Payment
• Home must be located in Canada
• Individuals Gross Debt/Total Debt Servicing must fall within the Federal guidelines
• Funds available for Closing Costs on a Mortgage can be in between 1.5-4% of purchase price
• Must have source of Income

Very Simple and easy process: this is the start of our journey together, Start here!

Fixed Rate is the Interest rate locked in over the course of the term of the loan while Variable Rate is an interest rate that will fluctuate based upon the prime rate in Canada which is currently 2.45%. Most lenders will allow you, as the consumer, to Lock your Variable rate into a Fixed rate during the course of your Loan. Feel free to ask more questions and I can shop you the best interest rates!

One of the greatest advantages of the Housing Industry is a lot of the services are very close net, most of us Mortgage Brokers have contacts within the industry that we can help you get in touch with. Don't hesitate to ask who you're looking for.

Most Closing Costs pertain to Lawyer fees which can range from 1.5%-4% of the Purchase price ie. $300,000 purchase price would be minimum $4,500, these Funds would be needed to close on your Mortgage, other closing costs could be Insurances, Water Heater/Security system rentals or Property Taxes.  All these Costs can catch homeowners off there Budget, lets chat about it and we can come up with a solution together!

Property tax is a mandatory annual charge for ownership of land/property. You have a couple different ways that you can pay them: 

• Within the Cities you can sign on to a program called TIPPs, this is where you pay monthly to your municipality
• Most Lenders will set up your Property taxes into a tax account where you also pay on every payment, I can set this up for you to make it convenient
• Pay annually to your township, municipality or RM

The Sooner quick and easy process:

1.  the sooner we meet/discuss over the phone,
2.  the sooner we get the application started,
3.  the sooner the documents get to myself, 
4.  the sooner the previous owners move out, 
5.  the sooner you can move into your new Family Home!!! 

Move quickly here