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Your Trusted Mortgage Broker in Cambridge

Certified Mortgage Broker in Cambridge

When you need a mortgage in Canada, our commitment at Certified Mortgage Brokers is to offer you the best support so you get a stress-free experience and find the most competitive rates and terms. We are happy to be the mortgage broker in Cambridge that hundreds of homeowners turn to for their mortgage needs.

Your Trusted Mortgage Broker

We understand that the market is full of knowledgeable professionals who specialize in different areas. Our job is to be the mortgage broker in Cambridge that you can have complete confidence in. We are committed to offering the most comprehensive real estate services. Get in touch with us and let’s discuss how we can serve you.

Why choose Certified Mortgage Broker in Cambridge?

We Make Your Closing Hassle-Free

We are here to make it easy for you to get the loan that you want. When it comes to different types of mortgages, we offer you the best expertise and ensure you get the loan that is right for you fast and hassle-free.

We Help You Find the Best Mortgage Rates Out There

Legislations in Canada have tightened things up and made it harder for aspiring homeowners to get the best mortgage deals. Our team will work with you to navigate the complex terms and conditions included in mortgages and use our large portfolio of lenders to get you the best rates on your next mortgage.

We are Experts at Mortgage Refinancing

The process of consolidating debts and renewing terms of the loans can be complicated. We understand that mortgage refinancing is not for everyone. That is why our mortgage broker in Cambridge will work with you to determine if refinancing is ideal and help you find the best mortgage deal on the market.

We Offer You Personalized Services

One thing you can always count on when working with us is a personalized experience. We start by understanding your situation before shopping around for the best fees, rates and terms. We also provide our clients with several mortgage options to pick from. We are licensed and trained to offer unbiased advice.

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We Help You Save Time and Money

Our mortgage broker in Cambridge comes highly recommended because we always strive to save you money. We do this by giving you access to a wide range of lenders. We will also help you get pre-approved and help pick the option that is perfect for you. Our healthy relationship with several lenders enables us to offer our clients the best deals.

As one of the most recommended mortgage brokerage firms in Canada, we always work hard to get you the best deal on your next mortgage. We achieve this by using our contacts and knowledge to structure a loan that matches your exact requirements. We can help you get the best-structured mortgage even if you were previously turned down by banks. Call us now to find out more.

Services We Offer

First-time buyers

As a first-time buyer we understand your plight. We will help you calculate how much you can afford; help you navigate the terms & conditions and answer any question you may have. We will also help you make the best decisions.

Mortgage Refinancing

When it is time to refinance, we will offer you the personalized help you need to find the best mortgage refinancing option and smooth the entire process. Our mortgage broker in Cambridge will also help you determine if refinancing is a good option for you or not.

Mortgage Renewals

If you haven’t paid your mortgage in full at the end of the mortgage term, we can help you renegotiate the terms. We will help you increase or reduce repayments, get variable or fixed interest rates as well as renegotiate the prepayment penalties.

Private Mortgage

Do you need funding quickly or have you been turned down by banks? At Certified Mortgage Brokers we can help you find a private lender that takes you in and offers the best terms. Private mortgages are perfect for the self-employed, persons with poor credit scores and persons with unconventional properties that banks refuse to finance. Private mortgages will also work for you if you need a second mortgage for investments, debt consolidation or renovations.

Second Mortgage

When you need a second mortgage our mortgage broker in Cambridge can help you with property valuation, calculate how much you qualify for and help you find the best lender and negotiate the best deal.

Self-employed (mortgages)

When you are self-employed, lenders feel your income is unpredictable or hard to prove. This makes it hard for you to get a loan. Our mortgage broker can help prove your income to lenders and help you find the best mortgage and terms in Cambridge.

Construction Financing

When you want to build your own home or purchase a building that is part of new development, you will need construction financing. We understand that it is harder to secure construction financing that is why we work extra hard to help you find a lender and get construction financing at the best terms.

HELOC

Home Equity Line of Credit (HELOC) is a loan secured against your home’s equity. The loan can help you reduce the cost of your debt. You can count on our mortgage broker in Cambridge to find the best HELOC and negotiate the best terms for you. Our contracts with multiple loan providers enable us to help you save thousands of dollars.

Google Reviews

Certified Mortgage Brokers
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Sean Hammond
2019-08-29

I had to port a mortgage to a new condo, Leon had excellent knowledge to get me through the approval process. When the bank made an error, Leon was quick to contact them to make sure everything was done right and on time. He is very professional and courteous and I recommend his service to anyone who wishes to apply for a mortgage.

Ronald McDonald
2019-08-27

Giving them 5/5 stars. Massoud helped me with my mortgage and he never missed a beat. He made the process very straightforward as a first time home buyer. Shopped around for other mortgages but he was always the first to get things for me. Highly recommend him

Shannon Jones
2019-08-23

I was looking to renew my mortgage and my previous lender was less than willing to do anything to keep my business. So I started to look for another brokerage to do business with and Certified Mortgage Broker stood out purely based on my interactions with Massoud. Massoud was professional and clearly had a keen sense of customer service; which I make a high priority when doing business with anyone since I'm in the customer service business myself. Peter rolled out the red carpet for me, walked me through my options, inquired about my plans with my current property, give me opinions and facts about rentals in the area, sales/purchases. In some respects he gave me more information about real estate than my real estate agent has!

Glen Plummer
2019-08-20

Selling and buying a home is a stressful experience and Leon with CMB in North York took all of the stress out of arranging the financing. He was very professional and clear about what I needed to provide to him. He used this information to arrange the best mortgage option on our new home, arranged the bridge loan to cover the closing period differential, and arranged closing out the mortgage with the previous lender.. Our experience with Leon is far better than the local in-person brokers that we contacted previously and Leon has helped us with a mortgage renewal in the past with the same excellent experience.

Colleen Power
2019-07-31

Leon returned my called from a missed call within 15 minutes of my call and I left no message. Leon and his team were fantastic. Even with the money issues we had Leon made me feel important and valued as a person.

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Certified Mortgage Broker Cambridge

Commonly asked questions about mortgages in Cambridge

What is a mortgage?

A mortgage is basically a property loan. It includes a mortgage agreement between the borrower and the mortgage provider that contains the terms and conditions of the mortgage. The lender holds the property as collateral against the loan. The mortgage principal is usually the amount that is borrowed.

How Much Do I Need for the Down Payment?

A down payment is an amount you have to pay upfront in order to get a mortgage. The amount paid as a down payment will depend on the value of the property. The minimum amount you can pay as a down payment is 5% of the total value of the property. If the down payment is less than 20%, you will be required to get a mortgage default insurance. The down payment is deducted from the price of the property you are buying. The larger the down payment the more money you will save.

What Mortgage Payment Choices Do I Have?

There are two main mortgage repayment plans:

  • Open mortgage repayment plan: With this plan, you are allowed to pay off the mortgage at any time during the term of the mortgage. You can get a fixed interest rate typically if the mortgage term is 6 to 12 months or a variable interest rate if the term is 3 to 5 years. The drawback is you will pay a higher interest rate. On the bright side, the terms are very flexible.
  • Closed mortgage plan: Payments with this plan are made as per the agreed terms. Paying the mortgage in full early can lead to penalties. The advantage here is you enjoy low-interest rates.

What are the Benefits of a Pre-Approved Mortgage?

  • You get to save time and effort because you will only focus on properties you can actually afford
  • You will know upfront what you need to pay as a down payment and what the monthly repayments will be. This makes it easy for you to budget.
  • Sellers will take you seriously because they know you can get the money needed to purchase the property
  • Pre-approval has a validity of 60, 90 or 120 days and attracts no cost or obligation

Terms You Should Know When Closing a Mortgage

  • Amortization: Length of time it takes to pay the mortgage off
  • Appraisal: Professional evaluation of the value of a property
  • Deposit: Payment made to secure a piece of property
  • Down payment: The amount a buyer has to pay from his own pocket for the property
  • Home inspection fee: Cost of inspecting the structural integrity of a property
  • Loan to value ratio: Size of mortgage measured against the value of the property
  • Prepayment option: An option in a closed mortgage that enables you to make specific early payments against the principal amount
  • Property transfer tax: Tax due when a property is transferred to another owner
  • Mortgage loan insurance: Insurance a buyer has to pay when their down payment is less than 20%
  • Term: The timespan of a mortgage agreement. You can renew the term or find a new mortgage when it comes to term

Fixed Vs. Variable Rates

Fixed interest rates are the most popular in Canada. They stay the same throughout the term of a mortgage. While these interest rates are much higher, they are considered because they offer borrowers more stability because they know what they need to pay every month. If you are on a tight budget, a mortgage broker in Cambridge will recommend a fixed rate.

Varied interest rates, on the other hand, are linked to the prime interest rates. They move up and down along the prime rate. The advantage is they are less expensive when calculated over time.

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