Frequently Asked Questions

I won’t blame you for asking, and like every other statement made on this website, I’ll answer honestly. There’s no special reason for you to choose me apart from the promise that I’d never try to pull a hood over your head just to make things easier. I work for you, NOT the banks, so you can expect me to put all my experience in mortgages to full use. I’ll listen and understand what your specific problems or needs are, and use what I learn to create a tailored solution that’ll see you crush your mortgage goals. No matter the obstacles you’re facing, whether it's strict income verification, poor pre-payment privileges, high breaking fees, bona fide sales clause, being rejected last minute by a bank, or having low buying power, I’ll bring to bear all my experience in mortgages to help you overcome them.

Upfront, my services won’t cost you a single red cent! How agents get paid completely depends on the type of Mortgage you get. With 'A Lenders' and some 'B Lenders', agents don’t get paid by the clients themselves, rather the costs of the service are taken up by financial institutions & lenders, who compensate brokers with a fee for their work. Additionally, those same institutions offer us simple brokers their most competitive rates and fastest approvals, which in turn make it so that taking up our free services allows clients to get the best of the mortgage market. As for other types of Mortgages such as B Class Mortgages, Alternative Lending Solutions and Private Mortgages, the cost of our service hinges upon a number of variables. But always remember, there are no upfront fees or hidden costs. Whenever in doubt... ask us!

Pre-approval is what allows borrowers like you to get an interest rate guarantee from a lender for a set amount of money and for a specified period, which usually ranges from 90 to 120 days. Without pre-approval, lenders have no guarantee that you’ll be able to pay the mortgage, so they’re less inclined to lend to you. Simply put, yes you need it for a mortgage, and I can help you get it easily.

You can choose to provide your lender with gift funds as a form of downpayment. However, there are a few steps to be taken before you do. Usually, you’ll need a letter signed by the donor confirming the funds you’re giving are a gift rather than a loan. Additionally, in the case of a Mortgage Loan Insurance, the Canada Mortgage and Housing Corporation require that the gift money is in the purchaser’s possession before the application is sent in for approval.

Sure. A conventional mortgage has a down payment equal to 20% or more of the purchase price, a loan-to-value percentage of about 80% or less, and has no need for Mortgage Loan Insurance.

If the amount to be borrowed exceeds 80% of the home value, then you have yourself a high-ratio mortgage. Because lenders consider the amount borrowed to be a risk to them, mortgages of this type need Mortgage Loan Insurance from the Canada Mortgage and Housing Corporation (CMHC) or even another third-party insurer.

Your downpayment amount will determine your mortgage type. Paying upwards of 20% of the home value and meeting some other criteria will qualify you for a conventional mortgage. Less than 20% down and you’ve got yourself a high-risk mortgage. Again, in those particular cases, you’d need to have Mortgage Loan Insurance provided by the Canadian Mortgage and Housing Corporation (CMHC) or even another third-party insurer. Additionally, insurer’s rules state that you must have 1.5% of the purchase price available for applicable closing costs, such as legal fees and disbursements, appraisal fees, or a survey certificate, wherever applicable. Unsure which option is the best for your mortgage journey? Book a call with me today and we’ll figure out the best option together.

I certainly can. I’ll start shopping for the best rates at least 90 days before your mortgage matures. During this time lenders may guarantee a certain rate and, if you aren’t increasing your mortgage, will cover the costs of transferring it to a different institution. Hence, I can help you obtain a good rate well before your mortgage matures and before anyone gets a chance to increase it.