FAQs

 Frequently Asked Questions

  • The mortgage term is the length of time your approval details are in effect. At the end of each term you must renew the remaining balance, but you have the option of restructuring your mortgage without pentalty.

  • Mortgage terms range from 6 months to 10 years. Typically the most attractive interest rates are offered at 5 years, but there are many factors that go into selecting the right term for you.

  • An appraisal is a valuation of real estate based on comparable properties sold within the last 30-90 days. Appraisals are often required for purchases with 20% or more down payment, and for refinance applications.

  • 5 Reasons Why:

    1. I will present you with options so you can make an informed choice regarding your mortgage.

    2. In order to meet your needs, i have a wide array of products to choose from, including mortgage banks, private sources, independent lenders and mono-line lenders.

    3. I am a knowledgeable and experienced professional who will sit down with you in order to fully assess your needs and personal situation.

    4. I can assist you with competitive interest rates and favourable loan terms.

    5. I offer unparalleled choice with multiple lenders including banks, credit unions and rust companies based on your specific financial situation.

  • Obtaining a mortgage pre-approval is a crucial step in the home buying process! Not only does it provide you with a realistic idea of what you can afford… it also gives you (and your realtor) confidence in the financing when searching for properties. So what are you waiting for? Lock into a great rate today!

  • Mortgage pre-approval locks in a lender’s mortgage rate for a specified period - often 60, 90, 120 days while you house hunt. With rising interest rates this is a good way to lock in a rate. *Don’t worry: if mortgage rates decrease, you can still access those.

    1. Land Transfer Tax

    2. Appraisal Fee

    3. Legal Fees

    4. Home Inspection

    5. Home/ Fire Insurance

    6. New Construction Costs

    7. Prepaid Costs

    8. Tax on Mortgage Insurance

    9. Title Insurance

    10. Moving In Costs

  • Here are a few more of the countless reasons why our clients have decided to refinance in the past:

    1. Renovations

    2. Investment Opportunity

    3. For a better interest rate on your mortgage

    4. Down Payment for a second property

    5. 30 & 35 year amortization available

“We have access to a wide variety of lenders for all different types of situations; purchase, refinance, renewal, investment, bruised/damaged credit, 2nd mortgage, past bankcruptcy, etc. You name it, we’ve dealt with it.”