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What is a Mortgage ?
Toronto Mortgage Brokerage is one of the most successful brokerages in the Greater Toronto Area and it’s no coincidence. High-quality services are provided by our hard-working and professional mortgage agents in Toronto. Being our customer means that you will be able to get what you need and want, unlike at otherbrokerages that stop when they struggle to find a solution for your situation.
- Historical financial position (including, revenue cycle and profit history)
- Future profit potential
- Condition of the business and assets
- Tax consequences
- Buying another property – buying to rent is often a good investment since you can use the rental to help pay off the mortgage.
Our Experts Will Guide You!
... pick the one thans right you
Qualified mortgage wxperts
Renewal is the perfect time to consider whether the mortgage still fits in with your financial and lifestyle requirements. This is when you need to consider the term of your mortgage, the interest rate you should be paying and whether you want to continue with the same lender or find a new one.
In signing off the renewal notice without doing your research or negotiating better rates you could be leaving thousands of dollars on the table. Up to 50% of mortgage holders fail to renegotiate at renewal time.
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More than 15% of Canadian residents are now self-employed. If you’re one of them, qualifying for a mortgage may be more difficult and more expensive than it is for your formally employed neighbour.
Many mortgage providers consider the self-employed a higher risk. They typically ask for at least two years proof of income before they will even consider a mortgage.
Mortgage Offers
...pick the one thats right for you.
Featured Rates
starting from
6.45%| Term | Rate |
|---|---|
| HELOC | 6.95% (Prime rate) |
| Lender | Rate | Term |
|---|---|---|
 Lendwise |
4.49% | 5 year |
 First National Financial |
4.69% | 4 year |
 RMG Mortgages |
4.59% | 3 year |
 Street Capital Bank |
5.24% | 2 year |
 TD Bank |
6.09% | 1 year |
| Term | Rate |
|---|---|
| 5 year variable | 5.85% (Prime - 1.05%) |
| 3 year variable | 6% (Prime - 0.95%) |
| Term | Rate |
|---|---|
| Line of Credit | Starting at 7.2% |
| Equity Loans | Starting at 6.5% |
| Private Mortgages | Starting at 7.49% |
You have questions. We are here to help!
Certified Mortgage Broker Barrie
Terms that you should know when closing a mortgage
There are many reasons that property owners obtain a second mortgage. We’ve listed a few below
- Historical financial position (including, revenue cycle and profit
- Future profit potential
- Condition of the business and assets
- Tax consequences
- Buying another property – buying to rent is often a good investment since you can use the rental to help pay off the mortgage.
Terms that you should know when closing a mortgage
There are many reasons that property owners obtain a second mortgage. We’ve listed a few below
- Historical financial position (including, revenue cycle and profit
- Future profit potential
- Condition of the business and assets
- Tax consequences
- Buying another property – buying to rent is often a good investment since you can use the rental to help pay off the mortgage.
Our Services
All you need to know about mortgages in Toronto and North York
How much will we need for the down payment?
To secure a mortgage you will have to make a down payment. The size of the down payment that you can put down will have a major effect on the size of your mortgage and the repayments that will have to make. The more you have to put down the better.
If you can make a down payment of 20% or more, you will have a conventional mortgage. If you can’t afford a 20% payment, you may have to settle for a high ratio mortgage. A high ratio mortgage attracts mortgage default insurance. You can pay this in a lump sum or in monthly instalments. The insurance covers the lender in
Should we seek pre-approval?
Pre-approval is a great option, as you can go property shopping in the certainty of receiving a mortgage that will cover the cost.
Pre-approval can save you time and effort as you know ahead of the house-hunt exactly what property you can afford.
It puts you in a strong negotiating position as the seller knows that you already have the funds available.With a pre-approval, you’ll also know what interest rates you can expect and what your monthly payments will be so it makes it easier for you to budget.
What are my choices when it comes to repayment plans?
There are two types of repayment plan
- An Open Mortgage Repayment Plan – If you have an open mortgage plan you can pay off your mortgage at any time without incurring penalties. You can also make large repayments whenever you want. These mortgages are usually short term, typically six to twelve months and the interest rates
- CA Closed Mortgage Repayment Plan – The term of a closed mortgage is longer, running for periods of six months to ten years. Closed mortgages limit your options when it comes to making repayments. You will incur penalties if you decide to pay early, renegotiate or refinance your mortgage. The bank lender will also limit the lump sum payments that
What is the difference between fixed and variable rates?
There are several differences between fixed and variable rate mortgages. The correct one for you will depend on your risk appetite and view of the future direction that interest rates will take.
- Fixed Mortgage Rate – If you opt for a fixed rate mortgage the interest rate that you negotiate will remain fixed for the full term of the mortgage. This type of mortgage is popular as it is a low-risk choice. On the downside, you are likely to pay more interest over the longer term.
- Variable Mortgage Rate – The variable mortgage rate is connected to prime. In fact, your mortgage rate is quoted as prime less a percentage. As prime moves, so does the rate of interest on your mortgage. Many property owners are not prepared to take this financial risk even though, over time, the variable rate is lower than the fixed rate.
Google Reviews
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.
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.
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.
Getting a private mortgage was not easy to be honest, but at least with Mr. Leon it was doable. Thank you for your help!
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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