Our team is here to make homeownership a seamless experience, finding the best rates and options for Canadian homebuyers.
Home Buyers
Home Buyers
Buying a home is an exciting journey, and we’re here to make it as smooth as possible. Canadian homebuyers have diverse needs, which is why we offer customized mortgage options and flexible terms that work best for your situation.
Customized mortgage options and flexible terms
Our Services for Home Buyers Include:
- Mortgage Pre-Approval: Secure a pre-approved mortgage to know your buying power and get peace of mind with locked-in rates.
- Customizable Terms and Amortizations: Select from a variety of mortgage terms (usually 1 to 10 years) and amortization periods (typically 25 to 30 years). Shorter terms can lead to savings on interest, while longer terms can provide stability, helping you find the balance that suits your goals.
- Flexible Rate Options: Choose between fixed and variable rates, with terms suited to your lifestyle, whether you’re looking for predictability or flexibility in fluctuating interest markets.
- Guidance Every Step of the Way: We provide support throughout the process, ensuring that you understand mortgage terms, closing costs, and every other detail, so you can feel confident about your decision.
First Time Home Buyers
Starting as a first-time homebuyer can be daunting, but our tailored services make it easier to navigate programs, understand financing options, and achieve homeownership with confidence.
Special Benefits and Programs for First-Time Buyers:
- Home Buyers’ Plan (HBP): Withdraw up to $35,000 (or $70,000 as a couple) from your RRSPs to put toward your down payment without immediate tax penalties.
- First-Time Home Buyers’ Tax Credit: Eligible first-time homebuyers in Canada can receive a non-refundable tax credit of up to $1,500 to help with closing costs, making it a bit easier to manage the expenses that come with buying your first home.
- Provincial Exemptions: In British Columbia, qualifying first-time homebuyers may be exempt from the Property Transfer Tax on homes up to $500,000, reducing upfront costs and making it easier to buy a first home in the province.
- Exclusive First-Time Buyer Rates: Access competitive rates and down payment flexibility designed for first-time buyers, making homeownership more achievable.
Our team helps you make sense of these programs, whether it’s saving on taxes, accessing favorable rates, or understanding each step of the mortgage process.
High Ratio Mortgages
A high-ratio mortgage is ideal for homebuyers with a down payment of less than 20%. While these mortgages require mortgage insurance, they allow you to purchase a home sooner without needing a large down payment.
Benefits and Considerations of High-Ratio Mortgages:
- Accessible Homeownership: Qualify for a mortgage with a smaller down payment, typically as low as 5% for properties under $500,000.
- Mandatory Mortgage Insurance: With less than a 20% down payment, Canadian law requires insurance from a provider like CMHC, Sagen, or Canada Guaranty. While clients don’t choose the provider, the mortgage insurance allows more flexibility for buyers to enter the market sooner.
- Competitive Rates: High-ratio mortgages often come with lower interest rates, making monthly payments more manageable despite the additional insurance premium.
We’ll help you understand how mortgage insurance works, how premiums are calculated, and how this type of mortgage can make homeownership attainable in a competitive real estate market.
Conventional Mortgages
With a down payment of 20% or more, a conventional mortgage is a great choice to save on monthly costs and build equity faster.
Advantages of Conventional Mortgages:
- No Mortgage Insurance Needed: Without the need for default insurance, conventional mortgages have fewer monthly costs, letting you direct more of your payments toward your home.
- Faster Equity Growth: A larger down payment means you’re building equity sooner, providing additional financial security and freedom.
- Flexible Payment Terms and Rates: Many lenders offer preferred rates and terms for conventional mortgages, giving you more control over how you manage your mortgage.
Our team will help you compare options from top Canadian lenders and provide guidance to ensure this type of mortgage aligns with your financial goals.
Investment/Rental Purchases
Buying rental or investment properties is an effective way to build wealth, and we offer specialized mortgage options and guidance for Canadians ready to make this type of investment.
Key Points for Investment and Rental Property Mortgages:
- Income Requirements and Qualification Standards: With investment properties, lenders often consider rental income for mortgage qualification. We’ll walk you through these standards, so you’re prepared with the necessary documentation.
- Tailored Mortgage Options: Investment properties may qualify for specific mortgage products, including higher loan-to-value ratios and competitive rates based on property type and income potential.
- Expert Advice on Management and Tax Implications: We provide insights into managing rental properties, understanding tax benefits, and planning for property maintenance.
New to Canada
Starting fresh in a new country is a big change, and buying a home may be one of your first goals. We offer specialized mortgage services for newcomers, helping you understand the mortgage process in Canada and connect with lenders who support new Canadians.
Tailored Solutions for New Canadians:
- Alternative Credit Assessments: For those with limited Canadian credit history, we work with lenders who accept alternative credit information, such as rental payments, utility bills, or international credit history.
- Flexible Down Payment Assistance: Newcomers may have access to special programs and assistance, making it easier to save for a down payment or qualify for financing with a smaller initial investment.
- Comprehensive Guidance: We’ll walk you through each step, from mortgage pre-approval to closing, ensuring that you fully understand all requirements and options available.
Our goal is to make the mortgage process simple and accessible, empowering you to achieve your homeownership dreams in Canada.
Self-Employed
Self-employed Canadians can face unique challenges in securing a mortgage, but with the right support, homeownership is within reach. We work with self-employed clients to help them understand their options and navigate lenders who welcome non-traditional income.
Mortgage Solutions for Self-Employed Canadians:
- Alternative Income Documentation: Many lenders accept alternative documentation for income verification, like bank statements or financial records from your business.
- Stated Income Programs: If income verification is challenging, we work with lenders that offer stated income programs, providing flexibility for freelancers, contractors, and business owners.
- Flexible Payment Options: Choose from payment terms and schedules that align with variable income, helping you feel secure in managing your mortgage over the long term.
Our team understands the ins and outs of self-employed income, and we’re here to find flexible solutions that work for your financial lifestyle.