FAQs
Mortgage Questions, Answered.
Straight answers to the questions we hear most from buyers, homeowners, investors and retirees across Ajax, Durham Region and the GTA.
Does it cost anything to work with a mortgage broker?
For most residential mortgages our service is free to you, because we are compensated by the lender. If a fee ever applies, for example on certain private or commercial files, we will tell you upfront in writing.
What is the difference between a mortgage broker and my bank?
A bank can only offer its own products. As a brokerage, we compare offers from a network of banks, credit unions and private lenders, so you see more options in a single conversation.
What do I need to get pre-approved?
Typically ID, proof of income such as pay stubs or tax documents, details of your down payment, and a list of your debts and obligations. Call us and we will tell you exactly what applies to your situation.
Which areas do you serve?
We are based in Ajax and serve Pickering, Whitby, Oshawa, Clarington, Scarborough, Markham, Toronto, Uxbridge and homeowners across Ontario. Meet in person at our office, or get everything done by phone and email.
Should I renew with my bank or compare options?
Your bank's renewal letter is just one offer. We compare the market so your new term works harder for you, and we recommend you reach out well before your renewal date.
Can I get a mortgage if I am self-employed?
Yes. We build applications around how you actually earn and work with lenders who understand business income.
Can newcomers to Canada qualify for a mortgage?
Programs exist for new Canadians, even with limited Canadian credit history. Speak with us about your situation and we will explain what is available.
Who qualifies for a reverse mortgage?
Canadian homeowners aged 55 or older can generally qualify. The amount available depends on your age, your home's value and its location. You keep ownership of your home and no regular mortgage payments are required.
When does refinancing my mortgage make sense?
Refinancing can make sense when rates have dropped, when you want to consolidate high-interest debt, or when you need to access equity for renovations or investments. We will calculate any penalties and show you the real savings before you decide.
How does a construction mortgage work?
Instead of one lump sum, funds are released in draws as building milestones are completed and inspected. You typically pay interest only on the amount drawn until construction is finished.
Do you arrange commercial mortgages?
Yes. We arrange financing for owner-occupied businesses, investment properties, mixed-use and multi-residential buildings, matching you with lenders who specialize in commercial lending.
What is a home equity loan or HELOC?
It lets you borrow against the equity you have built in your home, either as a loan or a revolving line of credit (HELOC), to fund renovations, education, investments or big expenses.
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Purchase Mortgages
Get pre-approved and buy your first or next home with confidence.
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Mortgage Renewals
Compare the market before you sign your renewal.
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Reverse Mortgages
Turn home equity into tax-free cash if you are 55 or older.
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