Most frequent questions and answers
Yes, absolutely! You can start rebuilding your credit right away and see the results within 45 days! Ask me how.
There are no fee options. Any and all fees will be disclosed to you. You will be able to evaluate the value in services and choose to move forward or halt the process.
You can receive a pre-approval without a credit pull. Please keep in mind actual approvals may vary as new information is received.
You can check your credit score via Equifax or Trans Union. If you have any trouble in retrieving your credit information you are more than welcome to contact the brokerage.
A broker can offer many products as we have access to many lending institutions. Instead of shopping around, filling out applications and receiving hits to your credit inquiries a broker only needs one application and will do all of the leg work for you.
The minimum down payment depends on the purchase price:
$500,000, the minimum down payment is 5%.
Between $500,000 and $999,999, the minimum down payment is 5% of the first $500,000, and 10% of any amount over $500,000.
$1,000,000 or more, the minimum down payment is 20%.
Mortgage default insurance, protects the lender in the event the borrower defaults on the mortgage. All mortgages with down payments of less than 20% require default insurance. Default insurance is a product where mandatory criteria must be met to qualify.
Approvals can take as little as 2 hours. It can also take up to 24-48 hours upon completion of application and required documentation. Please do not wait until the last minute to acquire financing as some transactions may take up to three weeks.
Yes. As required by law and the Financial Services Commission of Ontario (FSCO), all agents/brokers and brokerages must be licensed while dealing or trading in mortgages. If you’re worried your broker or brokerage is not licensed or practicing fraudulently, you can check their status at http://mbsweblist.fsco.gov.on.ca/agents.aspx