FAQ

Here you’ll find all or our FAQs. Don’t see what you’re looking for? Get in touch with us.

 
General Questions

  • Our main goal as a mortgage broker is to be your trusted real estate financial advisor. We don't only get you the best rate and options and process speedy approvals but we are looking for long term strategic relationships. Bottom line is we help people build wealth through proper planning and implementation of growing your real estate portfolio...if that's your thing. Oh and if you work with us you'll be sure to smile and laugh. For us it's all about making the often stressful process fun and enjoyable.

  • Working with a broker allows you to explore all the options across Canada (major banks, Credit Unions, Mortgage Wholesale companies etc...) allowing you to get the best rates from over 50 different lender at one given time. Getting the best rate is what we do!

  • Working with a broker allows you access all the time to questions and answers and 9-5 is not what we do...we simply work a lot making sure we are there whenever you need us. We are typically much faster than banks as we have our dedicated banks and lender relationships getting approvals and answer much faster.

  • We do mortgages all across Canada and you'll be surprised the places we have done financing. In fact out three biggest markets are BC, Alberta and Ontario and we are licensed in these provinces by the sheer volume we handle. Need financing in some weird corner of Canada...we are your team!

  • In most cases, we are paid a commission by the lender or bank. The amount of the commission can change depending on the type of mortgage but is typically about 1% of that amount. The size of the loan and the quality of the client are also a consideration.

  • Generally, no. About 95% of the time I'm paid a commission by the lender. But if a client's application just doesn't fit with the 50+ mainstream lenders, we have alternative lending options. Those lenders don't pay me a commission, so I need to charge a fee. We are clear from the get go on how things work so there are no surprises.

  • If you work with a bank you are working with an employee who follows the rules of that particular bank. When working with a Mortgage Broker we are provincially regulated. So we have to be licensed and take tests and ongoing training on how to best service our clients and our industry. We do not work for any institution but are typically self employed which means we work best for our clients.

  • My services are generally free to my clients. The lender pays me a referral fee or a commission for intrucding you to them, setting up and structuring your mortgage. All mortgage brokers and bank mortgage specialists are generally paid in this manner.

 
Home Buyer Questions

  • A down payment is the amount of money you put towards the purchase of a home. The minimum amount you need for your down payment is 5% of the purchase price.

  • As a general rule, no more than 30% to 32% of your gross annual income should go to mortgage expenses, such as principal, interest, property taxes, heating costs and strata fees.

    1. Get your questions answered to see if we are a good fit for your needs.

    2. Submit you mortgage application and documents.

    3. Decide on your mortgage lender and product and shop of a house.

    4. Purchase your home and complete the mortgage

 
Home Owner Questions

  • Paying off your mortgage faster means you could save significant money on interest costs. Plus, you'll increase the equity in your home or property at a faster pace, as you pay down more principal.

    To chat with us about your options, please reach out!

  • When you refinance your mortgage, you replace your current mortgage with a new loan. The new loan might have different terms — moving from a 30-year to a 15-year term or an adjustable rate to a fixed rate, for example — but the most common change is a lower interest rate.

  • If you break your mortgage contract before it is up for renewal, you normally have to pay a penalty.

    If the current conditions of your mortgage contract no longer meet your needs, you may want to make changes before the end of your term.