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The Best Mortgages from Aurora’s Experts!

…an Aurora-based brokerage with a decade of experience under its belt.

Your Only Stop for Residential

Everyone needs somewhere to live, so when you are buying your home, call us. We get you the absolute lowest price of any broker when it comes to residential mortgages in Aurora. We ensure the best services than any other mortgage broker in Aurora.

Part of what makes us the best is not only our determination at getting you the best rates, but how fast we get the job done. Who wants to wait forever for the closing to finish so life can begin?

That is why we’re here, to save you from long waits and other headaches. Call us now and let us take care of you and your needs.

Fastest Business Mortgages Anywhere

If you live in or just recently moved to Aurora, you know about the beauty and the rapid growth happening there. Residence or business, you will need our services, because we’re the #1 mortgage broker in Aurora.

Aurora is growing fast, faster than any other Toronto area. This means business is growing fast. It takes a phone call to us to get it all started.

If you’re starting a new business or taking over another building, our commercial mortgage specialists will get all the muck out of the way quickly. We work very fast as we understand your need to get your business running as soon as possible.

Your Trusted Mortgage Broker in Aurora

Why us
Why us
Our mission
Specials
Your Trusted Mortgage Broker
We do everything in our power to get our clients the best rates in Aurora
We have the most competitive mortgage rates in Aurora
We always have our client's best financial interests in mind
We will never fail to answer your phone call
We're Canada's #1 Mortgage Broker Two Years in a Row - 2017 & 2018

Types of Mortgage which we offer

Mortgage Refinancing

If you own a house in Aurora and you would like to borrow some money against your equity, CMB is only a phone call away. We offer quick mortgage refinancing services in Aurora. We will guide you through the paperwork. You don’t have to endure the long application process and processing on your own. With our certified mortgage brokers, the refinancing process is easy and straightforward. We will save you all the hassles of refinancing and negotiate good rates. You will have the refinance done fast and at an affordable rate.

Residential Mortgage

If you dream of owning a house in Aurora, you should contact us about the various residential mortgage options available. We promise to get you the most competitive mortgage rates in Ajax. We also promise fast and hassle-free mortgage processing. We can guarantee competitive mortgage rates given our vast network of mortgage lenders in Aurora. We can negotiate for lower rates than even the advertised rates. We will save you the hassle of moving from one lender to the other as you compare mortgage rates. We will get you the best rates hassle-free.

Private Mortgage

A private mortgage might be the ideal option for you if you can’t qualify for a mortgage from conventional lenders despite having property to use as collateral. Private mortgage lenders will overlook your poor credit history and mainly focus on the collateral. They will give you the opportunity that private lenders denied you. You should opt for a private mortgage if you want to invest in an unconventional property that traditional lenders may not support. The best thing is that we will get you the private mortgage within the shortest time possible. Our team of mortgage brokers will get you a fast yet affordable deal.

Call us: +1 866 921 8890

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Our Aurora Based Mortgage Brokers Offer the Following Services

First Time Buyers
First Time Buyers
Mortgage Refinancing
Mortgage Renewals
Private Mortgage
Second Mortgage
Self Employed (Mortgages)
Construction Financing
HELOC

For a first-timer, buying a home is exciting but can also be challenging. You might be scared about making an expensive mistake given the many steps, requirements, and tasks involved. First-time homebuyers can enjoy the special incentives created to encourage new entrants into Canada’s real estate market. Without the help of a qualified mortgage broker, you may not even know that certain incentives exist. A mortgage broker will demystify the home buying process and ensure that you get the best mortgage deal. You need to consider the type of residence that you can afford and that will serve all your unique needs. You also need to determine how much mortgage you can qualify for to avoid disappointments. Our certified mortgage brokers will:

  • Help you find the right property
  • Guide you into securing financing
  • Help you get a pre-approved mortgage
  • Help you close on the mortgage deal

You will have several options when buying your first home. You can choose from a conventional single-family home, a townhouse, a condo, a multi-family building, or a duplex. Every option has its pros and cons, and that’s why you need a mortgage broker to guide you. A mortgage broker will help you get a pre-approved mortgage. A pre-approved loan gives you an advantage over other buyers who may be interested in the same property as you. Some sellers do not even entertain an offer that isn’t accompanied by approval. Getting a pre-approval involves applying for a mortgage in advance and completing all the paperwork. The lender then tells you the amount you can qualify for. A pre-approved mortgage saves you time and money because you will only focus on the houses you can afford.

Mortgage Brokers Aurora Are Here To Save You Time And Money

Our mortgage specialists at Aurora are the best home mortgage brokers throughout Canada. We provide professional and reliable services to ensure you get the best mortgage deal. We believe in providing unmatched customer service, constantly giving our clients the most competitive mortgage rates that they won't find elsewhere. Irrespective of your mortgage needs, our experts will get you the best deal. We start by analyzing your financial situation to determine the best mortgage. We've got you covered regardless of whether you want a first mortgage, second mortgage or a FAQ mortgage refinance.

Certified Mortgage Broker Aurora

Frequently Asked Questions About Your Aurora Mortgage

What is a Mortgage?

A mortgage is a loan used to purchase a property. The mortgage borrower and the mortgage provider enter a contract that outlines all the mortgage terms and conditions. The mortgage agreement outlines the loan amount, the applicable interest rate and the term of the loan. The property purchased by the borrower serves as the loan collateral. The lender has the right to foreclose or dispose of the property if the borrower fails to pay as agreed.

The borrower repays the loan through monthly installments. A portion of the loan installment offsets the principal while the other offsets the interest.

What Mortgage Repayment Choices Do I Have?

You can choose from two mortgage repayment options:

  • Open Mortgage Repayment Plan - Under this repayment plan, you can pay off the loan at any time during the loan term without incurring a penalty. An open mortgage has a shorter repayment period ranging between six months and one year of fixed rates and 3 to 5 years of variable rates. The open mortgage is more flexible but attracts higher interest rates.
  • A closed mortgage plan - Under the closed mortgage, you have no freedom to repay the loan as you please. Some closed mortgages may allow you to make lump-sum payments. However, a full loan repayment before the term will lead to penalties. Compared to an open mortgage, a closed mortgage has lower interest rates but lower flexibility.

What are the Benefits of a Prepared Mortgage?

Having your mortgage pre-approved is a simple and straightforward process that only takes several days. During the pre-approval, you present your financial information to the lender who will evaluate it, consider your credit rating and determine how much you qualify. You will also get a schedule of how you can repay the loan.

The Benefits

  • You will save time by only focusing on the properties you qualify for
  • You can budget well since you will know the necessary down payment and the applicable monthly repayment
  • The seller knows you have money available and will give your application preference
  • A pre-approval carries no obligation or cost; it remains valid for 60, 90, or 120 days

Should I choose Fixed or Variable Interest Rates

Whether you go for a fixed or variable interest rate will depend on your appetite for risk and your preference.

Fixed Interest Rates

Most people in Canada prefer the fixed interest rate mortgages. The interest rate remains constant throughout the mortgage term. Fixed-rate mortgages have a higher interest rate than variable-rate mortgages. However, a buyer has the assurance that the rate won't change, enabling them to budget effectively.

Variable Interest Rates

Variable rates fluctuate based on the prime rate. When measured over time, variable rates are affordable than fixed rates. However, they may not be an ideal option if you don't like uncertainty.

How much Do I Need for the Down Payments?

A down payment is a sum of money that you contribute upfront before obtaining a mortgage. The minimum down payment in Canada is 5%, but this will vary depending on the property's price. You must purchase mortgage defaults insurance if your down payment is less than 20%. You can pay the insurance, known as CMHC, in lump sum or installments. This insurance shields the lender in case you default on the loan. The amount you place as a down payment is deducted from your home's price. The mortgage caters to the remaining price. The higher the down payment you place, the lower the monthly installments. You could save thousands of dollars in interest by making a larger down payment.

What are Closing Costs?

You have to pay several costs while acquiring a property. You should between 2% to 4% of the property's purchase price as the down payment. The typical closing costs are:

  • Appraisal costs
  • Land transfer tax
  • Home inspection
  • Property insurance
  • Legal fees
  • Land transfer tax
  • Adjustments

What Documents Will I Need?

  • A list outlining all your assets
  • All your liabilities
  • Bank account information
  • Building plans if you intend to build
  • Proof of your income
  • Lawyer's details
  • MLS listings
  • Purchase agreement
  • A proof that you have placed the down payment

Terms That You Should Know When Closing A Mortgage

  • Amortization – the number of years it takes for you to pay off your mortgage loan in full.
  •  Appraised Value – an approximate value of the property presented as security for the loan.
  •  Assumption of Mortgage – the transfer of outstanding mortgage from the present owner to a buyer.
  •  Blended payments – a repayment scheme where the amount of the principal and interest stays invariable.
  •  Closed Mortgage – a type of mortgage where you cannot prepay, refinance, or renegotiate without paying prepayment penalty.
  •  Completion Date – the date wherein all documentation is completed and payments made making the sale and purchase of a property final.
  •  Compound Interest – interest charged on the principal as well as on the accrued interest.
  • Conventional Mortgage – is a loan that does not go beyond 80% of either the purchase price or the appraised value of the property.
  •  Conveyance – refers to transferring the property title from the seller’s name to the buyer’s name.
  •  Default – the inability to pay the installments specified by the terms of a mortgage.

  •  Leasehold Mortgage—refers to mortgage that is secured on a property lease instead of on property ownership.
  •  Mortgagee – refers to the person or institution lending the money.
  •  Mortgagor – refers to the person or institution borrowing the money.
  •  Offer to Purchase – refers to the legal document formalizing the offer of an explicit price for a particular real property.
  •  Open Mortgage – a type of mortgage that allows prepayment in part or in full of the principal balance without exacting penalties.
  •  Prepayment Option – refers to the opportunity to prepay specific sums of the principal balance. Penalty interest may or may not be charged.
  •  Principal – refers to the balance of your mortgage that is still outstanding.
  •  Term – refers to the period of time in which the mortgage agreement has legal effect. When the term expires, you may renew the contract for another term and renegotiate the rate.
  •  Underwriting Fees – the payments that lenders collect to compensate for the expenses sustained in the lending transaction.

Google Reviews

Certified Mortgage Brokers
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Afton Jaskolski
2020-12-30

Getting a private mortgage was not easy to be honest, but at least with Mr. Leon it was doable. Thank you for your help!

Davin Mills
2020-12-26

There are a lot of mortgage brokers in toronto to choose from, I was a bit intimidated by that. Don't regret I picked CMB, they took the lead and made sure to cover all the bases

Tracy Wilhoite
2020-11-21

I was renting an apartment for a long time and finally decided to take a big step - get a mortgage instead. Team at certified Mortgage Brokers laid out various options for me. The actual process went smooth and quick, happy with my new home.

Ryder Turcotte
2020-11-16

My wife and I decided to refinance our mortgage and started looking for a mortgage broker in Toronto. There were so many options, so you can imagine how overwhelmed we got! After talking to Leon we decided to proceed with Certified, didn't regret that decision once. They always gave useful recommendations, were attentive, and constantly in touch. And most importantly (for us) they helped us to save some money!!

Lucy Zimmerman
2020-11-11

Vita was great. Helped my son with all the paperwork and got him very good interest rate. On the closing date called to follow up if everything went fine. Quite a pleasant experience. I would recommend this firm for anyone who is looking a mortgage broker.

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