Mortgage Broker Oshawa & Scarborough
We Make Your First Time Home Dream a Reality
Whether you’re purchasing your first home, refinancing, or making an investment, having the right mortgage shouldn’t be hard. As mortgage broker scarborough Ontario, we make the process simple and strive to get you the best deal possible—faster, easier, and without all the stress!
We have a team of licensed professionals that consists of the best mortgage agents in Scarborough and Oshawa mortgage brokers that work with many lenders to find the best solution for your unique financial situation. It’s not just about getting a mortgage with us, but ensuring you are successful in your homeownership!
Mortgage Services We Offer
We offer a complete portfolio of mortgage services that caters to your needs. As trusted mortgage brokers in Scarborough and Oshawa, we are dedicated to helping you through the mortgage process.
First-Time Home Buyer Mortgages
Purchasing your first home is an exciting milestone, but it can also be overwhelming. Our expert mortgage brokers in Oshawa and Scarborough mortgage agents are specialists in walking first-time buyers through every step of the process. This would involve pre-approval and simply finding the best rate for you while helping ensure the process is simple and stress-free.
Mortgage Renewals
When it’s time to renew your mortgage, don’t just accept your lender’s average rate. Let the Oshawa mortgage brokers compare rates for you to ensure that you’re getting the best deal.
Mortgage Refinancing
Refinancing could be the solution if you are trying to utilise your home equity or simply get a better rate. Let us help you understand what your options are, whether you need money to renovate your home, pay off debt or accomplish other financial objectives.
Private Mortgages
Private mortgages can be a great option for clients with unique needs or difficulties, like bad credit. Our pool of private lenders has options for flexibility when traditional banks won’t approve you.
Investment Property Mortgages
Want to grow your real estate portfolio? Our mortgage brokers in Scarborough can help you obtain financing on competitive terms and rates for a rental property or an investment property.
Bad Credit Mortgage Solutions
Having a poor credit rating does not mean you cannot purchase a home! Our team is experienced at helping clients with bad credit find appropriate mortgage options through alternative lending sources.
Understanding the Mortgage Process with Experienced Brokers Oshawa
Although navigating the mortgage process can feel daunting, enlisting the help of the mortgage brokers in Oshawa will make it simple and stress-free. Here’s a quick overview of what is involved:
- Pre-Approval: Your first step is to obtain a mortgage pre-approval. Our Oshawa mortgage agents will analyse where you stand financially and help you understand how much you can borrow.
- Mortgage Application: Once you find your home, we will then assist you with submitting all the necessary documentation to apply for the mortgage and help facilitate a smooth application process.
- Mortgage Approval: When you receive your loan agreement, we will help you go through the documents so you understand everything you are signing. It’s important to make sure you are getting the best deal.
- Closing: When you reach the closing stage, we will help guide you through completing the mortgage and make sure everything is in order.
- Ongoing Support: After closing, we are committed to great service for the full life of your mortgage.
Fixed vs. Variable Rate Mortgages: How to Make the Right Choice
Selecting the proper mortgage rate can be a very important decision when getting financing for a mortgage. There are two main types of mortgages to choose from: fixed-rate and variable-rate mortgages. Understanding what these terms mean will lead you to make the right decision that best suits your financial situation and objectives.
Fixed-Rate Mortgage :
In the case of a fixed-rate mortgage, your interest rate applies for the entire term of the mortgage (whether that’s 5 years, 10 years, or longer). Stability is the biggest advantage, as your monthly payments will never fluctuate. In most cases, this option works best if you expect to be in the property for the long term and you prefer to know exactly what your payments will be.
Pros of Fixed-Rate Mortgage:
- Stability and predictability for monthly payments.
- Better for budgeting since you know the exact monthly payment.
- Protection against a rate increase.
Variable-Rate Mortgage:
With a variable-rate mortgage, your interest rate will change as markets change, so your monthly payment may also change. When market interest rates go down, you will have a lower payment, however, when market rates increase, your payment may also go up.
Pros of Variable-Rate Mortgage:
- Chance for lower initial rates and payments.
- It may give you the chance to take advantage of falling interest rates.
- Usually have lower upfront costs than fixed-rate mortgage products.
Understanding Pre-Approval and How It Helps You
Obtaining a mortgage pre-approval is one of the more important pieces of the home-buying puzzle. Pre-approval gives you a clear idea of how much you can borrow, which helps you narrow down your home search. But really, what is pre-approval?
What is Pre-Approval?
Pre-approval is a process in which a mortgage broker in Oshawa or Scarborough mortgage agent, uses your financial information to assess your standing and establishes the amount you can borrow, depending on your income, credit score, debt-to-income ratio, and employment history.
Why is Pre-Approval Important?
Gives you a clear budget:
Pre-approval allows you to know exactly how much you can afford to borrow and saves you from wasting your time looking at homes out of your price range.
Strengthens your offer:
Having a pre-approval letter helps strengthen your offer because sellers are more likely to take your offer seriously. A pre-approval letter shows you’ve been vetted as a serious buyer who can afford the home.
Speeds up the process:
Once you get pre-approved, everything needed to process your mortgage is taken care of once you make an offer, which speeds up this process. There is so much paperwork that is completed as part of a pre-approval.
While you search for the home of your dreams, our mortgage brokers in Scarborough and Oshawa will guide you through the pre-approval process to make sure you are ready.
Why Choose us as your Next Mortgage Broker Scarborough Ontario
We’re trusted mortgage brokers in Scarborough and Oshawa, who provide personalised service for clients. Here’s why we’re the right choice for you:
Knowledge and Experience:
Our team of mortgage agents in Oshawa and Scarborough mortgage brokers have knowledge and experience with the mortgage market.
Product Knowledge:
We work with a variety of lenders, this can include big banks, credit unions and private lenders to find you the best mortgage rate and mortgage terms.
Personalized Service:
We understand that all of our clients have very different individual needs. Therefore we do everything we can to provide the best mortgage solution for each client.
Follow
Up:
From beginning to closing, we are with you every step of the process when it comes to you having questions, we are their to help provide valuable insight.
Contact Our Mortgage Team Today
Are you ready to take the next step? Contact our Oshawa and Scarborough mortgage brokers and schedule an appointment with us. We will help make the process easy and simple to give you the best mortgage rates and terms possible.
Commonly Asked Questions
A mortgage broker deals with multiple lenders to find you the best mortgage, whereas a bank is limited to only its mortgage products.
To get pre-approved, we will review your financial documents (including your credit score, income, and any debts). This will allow us to determine how much you can borrow.
Yes! Our Scarborough mortgage brokers specialise in helping clients with bad credit find mortgage alternatives with alternative lenders.
The amount of down payment you need can vary, however, with most traditional mortgages, you would need a minimum of 5% of the purchase price. Other programs, such as first time homebuyer incentives, may lower this amount.
