- We’re an unbiased, independent brokerage with a decade of experience, dedicated to Canadian home buyers, offering personalized service with industry expertise.
- Unlike major banks, we avoid bureaucratic hurdles, prioritizing personalized solutions to reduce stress and enhance customer service.
- With a decade of local connections, we consult with care, offering what global brokers can’t – a personal touch with local expertise.
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MORTGAGE BROKERS IN BURLINGTON
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The Best Mortgages From Burlington’s Premiere Mortgage Broker!
…a Burlington based Mortgage Brokerage with a decade of experience under its belt.
Taking that first tentative step on the property ladder should be an exciting experience, however it’s easy to get bogged down. Trusting the biggest purchase of your life to the wrong brokerage can end up costing you big, in wasted time, stress and money. Certified Mortgage Broker in Burlington is the best brokerage.
We strive to help every Canadian resident to get mortgages without getting lost in the process. We know how complicated and confusing mortgage terms can be. We also know that without the right connections, you will spend too much time looking for the right mortgage partner. With us, you will have numerous options with detailed information to match.
Our Burlington Based Mortgage Brokers Offer The Following Services
First Time Home Buyer
Toronto's expert advisors for first-time home buyers. We secure the best mortgages, guide you through incentives, and make your first home purchase stress-free.
Mortgage Refinancing
Explore mortgage refinancing with us. Leverage your home's equity for renovations, investments, or education. Analyze penalties, current rates, savings, and terms. Refinance up to 90% equity wisely.
Mortgage Renewals
Optimize your mortgage renewal! Don't miss the chance to secure better terms, rates, and lender options. Consult your mortgage broker three months ahead for tailored financial benefits.
Private Mortgage
In the Canadian mortgage landscape, private lenders offer hope when traditional options fail. They prioritize property value over credit scores, aiding various borrowers swiftly with personalized, short-term mortgages.
Second Mortgage
A second mortgage, or home equity loan, uses property equity for substantial funds but bears higher costs and risks. It's useful for debt consolidation and investments, offering up to 90% equity access.
Self Employed Mortgage
Over 15% of Canadians are self-employed, facing mortgage challenges due to income proof requirements. Managing expenses, credit, and savings is crucial for self-employed mortgage seekers.
Construction Financing
Constructing your dream home demands effort and financing, with down payments often reaching 25-35%. Careful planning, including 15% contingency funds, can mitigate risks associated with construction financing.
HELOC
A HELOC in the Canadian mortgage market allows flexible access to up to 65% of home equity, offering low-interest rates but requires disciplined use to prevent overspending and ensure repayment.
$1000 Cash Back or Free iPad
When You Close With Us!
Why Us
We aim to provide unmatched superiority when it comes to service delivery. All our mortgage brokers are highly-trained to identify and solve the various problems mortgage seekers may have. We also provide the most competitive rates in Canada. We believe that you only seek a mortgage when you’re financially strained, and we don’t want to make it worse. Although we have expertise in the industry, we believe that the only way we’ll satisfy your needs is by involving you in the process. We won’t sideline you when looking for the best mortgage solutions for your situation. We will discuss with you every possible scenario and let you make the final decision. Whatever your needs are, we will meet them.
All our operations always revolve around our clients. We put your needs first, whether we are searching for an ideal mortgage product or negotiating on your behalf. Working with us means getting services that exceed expectations. We also have diverse lending partners in the traditional and private sectors, and we use those connections to get you the best loan terms.
We Will Go Over and Above to Get You The Best Mortgage in Burlington Without Stress!
We Will Answer Your Phone Calls!
Have Your Financial Interests In Mind!
Get You Rates Others Will Not!
Mortgage Offers
...pick the one thats right for you.
Featured Mortgage Rates
construction mortgage
starting from
6.45%Heloc
| Term | Rate |
|---|---|
| HELOC | 6.45% (Prime rate) |
Fixed
| Lender | Rate | Term |
|---|---|---|
 Lendwise |
4.19% | 5 year |
 First National Financial |
4.44% | 4 year |
 RMG Mortgages |
4.44% | 3 year |
 Street Capital Bank |
5.34% | 2 year |
 TD Bank |
4.84% | 1 year |
Variable
| Term | Rate |
|---|---|
| 5 year variable | 5.3% (Prime - 1.15%) |
| 3 year variable | 5.6% (Prime - 0.85%) |
OTHER
| Term | Rate |
|---|---|
| Line of Credit | Starting at 7.2% |
| Equity Loans | Starting at 6.5% |
| Private Mortgages | Starting at 5.99% |
Certified Mortgage Broker Burlington
Frequently Asked Questions About Your Burlington Mortgage
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What Is A Mortgage?
A mortgage is a contractual agreement between a lender and a borrower, where the lender takes possession of a borrower’s property as leverage for their money. By giving the property, you give the lender the right to possess it permanently if you fail to honour the mortgage terms or if you don’t pay back the capital and the interest.
The mortgage contract usually contains all the details, including the duration you are supposed to take before paying back the full amount. You can use the mortgage to buy a new house or take it against the value of a property you already own. Either way, you will pay the principal amount, which is the amount you borrow, plus the interest within the stipulated timeline.
Residential Mortgage
Residential Mortgage In Burlington
Our dedicated advisers have intimate knowledge of the Burlington area and will strive to give you a competitive edge up in the Canadian property market. Let us do all the hard work for you, and rest assured, our goal is to offer you the best rates than any other mortgage broker in Burlington without a headache.
Refinancing In Burlington
Let us see if we can save you cash on your existing mortgage! We can help to show you whether it’s possible for you to lower payment (and rate) of your current loan, help you plan to consolidate existing debt, increase cash flow available to you and even offer you the potentiality of moving your existing contract locally.
Commercial Mortgage
Running Business In Burlington
Commercial mortgages were specifically created for for businesses and private investors, who wants to either refinance or outright purchase for the first time properties designed to end up in the incoming producing category. Some common examples of this at the larger end are restaurants or office premises, malls, self storage, and industrial properties.
If you are looking to grow your business in Burlington or it’s surrounding areas, we have the local and wider knowledge how to help you by acquiring income producing premises through our plan.
If you are a small, medium or large local business owner and considering investing in commercial property, see what our brokers can do for you. Don’t hesitate to get in touch!
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What Mortgage Repayment Choices Do Borrowers Get?
Borrowers often get to choose one of two repayment options, namely:
Open plan
When you choose the open mortgage repayment plan, you will be able to pay back the principal amount of the mortgage at any time. It gives you the freedom to pay the loan any time you get sufficient funds without worrying about penalties. Although it gives you more flexibility, this payment plan has the disadvantage of a shorter term. The term will be one year or less if you choose a fixed interest rate or up to five years if you go for variable rates.
Closed plan
If you opt for the closed payment option, you will have to wait until the mortgage term elapses before paying the full capital. You’ll still be allowed to make large payments, but you can’t complete the loan early without being penalized. The only advantage is lower interest rates.
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Do Pre-Approved Mortgages Have Any Benefits?
Yes. Pre-approval not only reduces the time you take before getting an ideal loan; it also leads you to the right lenders. The process involves the submission of your financial information to the lender, after which they determine the amount you can qualify for. The lender will also use that information to check your credit rating. When done with the background check, they will tell you the amount you can borrow and the payment plan you’ll have to adhere to. Some of the benefits of pre-approval are:
- No time wastage on properties that you can’t afford
- Informing you of the down payment beforehand, which means you’ll come up with a working budget before taking the loan.
- Getting considerations from lenders who already know your worth and are therefore aware of your capacity to pay them back.Short approval durations typically, ranging between 60, 90, or 120 days.
- Short approval durations typically, ranging between 60, 90, or 120 days.
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Should I Choose Fixed Or Variable Interest Rates?
Both fixed and variable interest rates have advantages and disadvantages that you must consider when comparing them. Whatever you choose, make sure it works for your situation.
Fixed interest
Most mortgage borrowers in Canada tend to prefer fixed rates. They remain the same during the whole term, but they are generally higher than variable rates. The stability of the fixed rates will allow you to manage your funds properly. You can assign the same amount of money towards the mortgage payment, and so long as the income remains steady, you won’t experience more financial problems.
Variable interest
Variable interest rates will keep changing over the mortgage term. You will pay less for some months and more for others. While the unpredictability may be impractical if you have a tight budget, these rates are lower than fixed rates.
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How Much Do I Need For The Down Payment?
The average acceptable down payment is usually 20% of the purchase price. However, sometimes you can be allowed to pay as little as 5%. You must remember that the less you pay, the more mortgage you will need to cover the purchase balance. The more mortgage you get, the more you will have to pay back, and the higher the interest will be.
That is why it’s acceptable to get CMHC insurance if the down payment is less than 20%. The insurance reduces the risk for the lender in case you don’t pay them back.
The down payment is the amount you pay from your pocket. It will be deducted from the purchase price of the home, with the mortgage covering the rest. Mortgage brokers Burlington advise you to try to pay as much as you can to reduce the interest on the mortgage.
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What Are Closing Costs?
Closing costs are the fees you pay when you’re getting a mortgage or finalizing the purchase of a property. The costs usually add up to between 2% and 4% of the mortgage you’re getting. The costs also cover various aspects of the property acquisition, such as:
- Appraisals
- Inspection
- Lands transfer tax
- Property tax
- Legal costs
- Insurance cover for the property
- Adjustment costs
Appraisals are usually done to ascertain the value of the property for the lender, while inspections are done for the buyer to ensure the property doesn’t have structural problems. The adjustment costs cover several aspects such as utility bills and additional taxes that the lender may fail to cover.
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What Documents Must I Have To Get A Mortgage?
- A form showing all your assets
- A liability list
- Bank information – If you have several accounts, submit all of them
- Building plans or blueprints for new constructions
- Income information and proof
- Your lawyer’s information
- The contract between you and the seller
- MLS listing
- Documents showing that you’ve paid the down payment
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Terms That You Should Know When Closing A Mortgage
Appraisal: This is the evaluation done to determine the value of the property before a lender gives you the mortgage you want.
Amortization: This is the time you are given to complete paying off the mortgage.
Deposit: This is the amount you give to show interest and secure the property.
Home inspection costs: The amount spent to determine if the property you want to buy has structural issues.
Down payment: This is a portion of the purchase price you must pay from your pocket before the mortgage covers the remaining amount. It is usually in percentage form.
LVT: The loan to value ratio is the amount of loan you’re interested in vs. the value of the property.
Property transfer tax: The tax you pay when the property is officially transferred to your name.
Pre-payment option: The payment option that determines when you can pay off the capital. Some options have penalties, and others allow you to make early payments.
Term: The duration you take with the mortgage. There is always a chance to renew the mortgage term when it is due.
Mortgage loan insurance: The insurance you take to boost your down payment if it is too low. The insurance amount will depend on the amount of mortgage.
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Henry Wright
Was looking for a mortgage broker in Toronto. Heard about Leon and his team from a co worker and decided to give them a call. after some time on the phone talking about mortgages and what would work best for me I was VERY impressed. They were polite and most importantly they knew what they were talking about. We then scheduled an appointment and I got my mortgage with a great rate. Definitely recommend.
Gina Carroll
Got tired of sow service and mediocre rates from my bank, so I started looking for a mortgage broker. Had some family friends recommended Leon and his team, so decided to check them out. Was very impressed with Leon, he guided me through step by step, recommended a mortgage and I ended up switching to him. My rate is better and he always answers call and emails right away.
Wilton Marble
A little while back my wife and I finally decided to stop renting and get a place of our own. After some searching we found a condo we both liked and that was in our price range. The next step was a mortgage, but honestly, neither of us knew too much of what we were getting into. We found Leon and his team after a quick search on google and have had a wonderful experience. Leon and his team of mortgage brokers are VERY knowledgable, polite, work fast and just all around very professional. They answered all our questions and we got a great rate.
Afton Jaskolski
Getting a private mortgage was not easy to be honest, but at least with Mr. Leon it was doable. Thank you for your help!
Wendy Langdon
Going through with this company was my best decision. These Burlington mortgage brokers are real professionals. They helped me to save thousands of dollars, I'm not sure I'd find such a good offer myself.
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