Brokers in Edmonton

Who Stands To Change The Industry


Welcome to Turkin Mortgage in Edmonton!

…a GTA based brokerage with a decade of experience under its belt.

Turkin Mortgage Edmonton – We Offer Best Mortgage Rates!

At Turkin Mortgage, our mission is to ensure that our clients get the best mortgage rates based on your income and needs. We can proudly boast that we offer the best customer service and rates if you choose to work with us. Our services include commercial and residential mortgages as well as mortgage refinancing second, and private mortgages. Turkin Mortgage in Edmonton is the best brokerage among all.

What We Stand For is Ethical Business Practices and Customer Service

We are committed to ensuring that our clients get honest and unbiased advice about the mortgages that they are looking for. We have relationships with lenders, credit agencies, A lenders such as banks and real estate lawyers to help facilitate the process of getting a mortgage. We pride ourselves on being an independent brokerage with branches all over the country.

We offer our recommendations and options with your interest in mind. Whether it is a guaranteed fixed rate you are looking for, or a short term mortgage, we are at your service.

Who We Are – Turkin Mortgage in Edmonton

We understand that taking the first steps towards being a property owner can be intimidating. This is why we are here to help. As experienced professionals, we will take care of the hard part of getting a mortgage, negotiating with the lender, to get the best interest rates and conditions.

Why Us
Why Us
Our Mission
Your Trusted Mortgage Broker

We’ll Go The Extra Mile To Obtain The Best Mortgage in Toronto For You, With No Stress!

We’ll Get You Rates You’ll Never Get From Any Other Lender

We Prioritize Your Financial Well-being. Assisting You Is Our Joy!

Our Team Is Always On Standby To Address Your Issues

We're Canada's #1 Broker Two Years in a Row - 2017 & 2018

Types of Mortgages We Offer

Refinancing Mortgage

One of the most common needs for many people is mortgage refinancing. This deals with paying your current mortgage and/or other debts against the property and assets you currently have. You then will have created a new loan which consolidates your previous debts.

The process can be complicated. During refinancing, you would have to transfer money and debts, renew terms of loans, and many more things to take care of. The process is not the best for everyone. However, we can help you decide whether this process is suitable for you. Our expertise can help guide you through all the confusing steps.

Residential Mortgage

When people think of mortgages, they typically think of buying a house. Unless you have all of the money upfront, in order to purchase your own home, you are going to need to use a residential mortgage to pay for it. Each case is going to be different, depending on the house, your financial status, and the market as a whole.

Because each situation will be different, we are experts at knowing what the right paths and options are for each case. Our professionals can balance out the cost of your property, other expenses, your credit, and the market in order to provide you with the right solution.

Commercial Mortgage

Commercial or industrial mortgages are also common and well-known to people. For those who are looking to start a new or expand an existing business and need extra space, you are going to need one.

Many kinds and types of businesses require a market space. As such, it is important to think of what loan will be right for your business. We have a great understanding of what businesses need and how to give it to them. We can give you the right contract for you and the needs and demands of your business.

Hassle Free Closing

Regardless of your financial requirements, Turkin Mortgage can help. We bring our skills in all loan types to offer you the best deals and alternatives.

Is your family relocating to another home? Are you aiming to grow your business? Is your goal to consolidate your debt? We’re at your service. Contact us and allow us to resolve your issue.

Our Team of Edmonton Mortgage Brokers Offers the Next Services

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

Our Team of Mortgage Brokers in Edmonton Will Provide Assistance Throughout the Entire Process

When it comes to owning a home, many young people have aspirations and fears alike. After all, your first-time home purchase is one of the most significant financial commitments you’ll likely face. The decisions you make now will have long-lasting effects. Fortunately, Turkin Mortgage team in Edmonton can help.

Before you commit to buying a home, there are several crucial issues to consider. Firstly, you need to determine what you can afford, considering the numerous hidden expenses that come with homeownership.

Property taxes, upkeep, and utilities can all add up quickly, so make sure you have the funds to cover these costs. You’ll also need to calculate your debt-to-income ratio and ensure that your overall debts do not exceed 40% of your income, while housing costs should not exceed 32%.

A mortgage broker can help you navigate the various terms and conditions specific to mortgages. By utilizing mortgage brokers, you could save a considerable amount of money in the future. They can help you identify an ideal mortgage. Also, they might even get you pre-approved.

Call us: +1 866 921 8890

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Understanding Mortgage Basic

Mortgage Basics

For the benefit of our clients, we have compiled some basic facts that you need to know about mortgages.

What is a Down Payment?

This is the percentage of the mortgage that you will have to pay up front in order to secure it. For instance, if you get a mortgage worth $300,000 and the minimum down payment is 5%, then you will have to pay $15,000. You can choose to make down payments that are higher than the minimum in order to reduce the interest you will pay later on. If you choose to make a down payment that 20% or more of the price, you won’t have to shoulder mortgage default insurance, which can be a significant expense in addition to debt payments.

What You Need To Know

What is a Mortgage?

A mortgage is a long-term loan that you take out when you buy property. You pay off the loan in regular increments over a certain period of time, which is known as the amortization term. An amortization term can be as long as twenty-five to thirty years.

What is a Mortgage Term?

This is the term of your mortgage agreement and is also how long your interest rate will remain in effect. Since you will likely not have paid off the full amount at the end of the mortgage term, you will have to renegotiate with your lender for a new agreement or look for another lender who will renew the mortgage. You can take this opportunity to look for a mortgage with better terms, i.e. lower interest rates.

Edmonton Mortgage Frequently Asked Questions

What is a Mortgage Term?

The loan that you make to buy a house or some other property is called a mortgage. The principal refers to the amount borrowed. Each mortgage payment pays off part of the principal plus the interest.

You have custody over the property. However, if you fail to pay the loan and interest according to the terms of the contract, the lender may repossess the property.

What is a Down Payment?

A down payment refers to the money you pay for real estate property. This money is paid upfront and the rest of the cost of your new home is covered by your mortgage. For properties that cost up to $500,000, the minimum down payment in Canada is 5% – however, do take note that your lender may sometimes require a higher down payment.

But what if the cost of the property is more than $500,000? If that is the case then the interest is 5% for the first $500,000 and then 10% for the remainder of the cost.

What Mortgage Repayment Choices Do I Have?

Regarding mortgage repayment plans, borrowers have two options: open or closed.

Open Repayment Plan

An open repayment plan allows for repayments to be made at any point during the loan term without incurring penalties. However, payment terms are usually shorter, and you will likely pay a higher interest rate for this flexibility.

Closed Mortgage

Closed mortgages don’t offer the same freedom; while lump sum payments are sometimes allowed, full early repayment will likely result in penalties.

Our team at Turkin Mortgage can review your circumstance and recommend the best plan for you. In particular, we assist our clients in selecting a suitable mortgage repayment plan by assessing their financial situations, analyzing mortgage options from various lenders, and negotiating better terms on their behalf. We also offer valuable guidance on interest rates, payment schedules, and payment options, ensuring you find a mortgage plan that fits your needs and budget.

What Are the Benefits of a Pre-Approved Mortgage?

Obtaining a mortgage pre-approval is a simple and quick procedure that shouldn’t take more than a few days. You will, however, be unable to proceed unless you provide your lender with the necessary financial details. To assess your eligibility, they will examine and review everything, including your creditworthiness.

You will receive a pre-approval for the amount of money you qualify for, as well as the repayment terms and circumstances, based on the information or facts given.

The following are some of the benefits of pre-approved mortgages:

  • Borrowers may save time by narrowing their property search to residences within their price range.
  • Borrowers are informed about the down payment as well as the monthly installments in advance.
  • If you can demonstrate that you have the financial resources to effectively purchase the desired home, the seller is more likely to accept your offer.

Your lender should normally provide pre-approval for your mortgage in less than 120 days.

Which is the Better Option: Fixed or Variable Interest Rates?

It’s a personal choice whether to go for a fixed or variable rate. However, your risk tolerance is what impacts this decision in many cases. Risk-averse borrowers typically prefer fixed interest rates, while non-risk-averse borrowers go for variable interest rates.

Fixed interest rates are the most popular in Canada; they may be slightly higher than variable rates, but they offer security in knowing what your monthly payments will be. This makes them especially advantageous for those with low incomes.

On the other hand, variable interest rates are linked to the prime rate and will rise and fall according to it. This makes them less expensive than fixed rates in the long run. However, if the uncertainty of this option disturbs you, then sticking with fixed interest is probably your best bet.

What Are Closing Costs?

When buying or selling a property, there are additional costs known as closing costs that need to be considered. Typically, lenders require borrowers to set aside 2-4% of the property’s value to cover these costs. Some examples of closing costs are:

  • Property appraisal – to assess its value
  • Home Inspection – to verify no significant repairs are needed
  • Land transfer tax
  • Property insurance
  • Tax payments
  • Legal fees, and
  • Adjustment costs such as utility bills or taxes that the seller may have already paid.

These costs are necessary to finalize the transaction and should be factored into the overall budget.

What Documents Will I need to Finalize My Mortgage?

  • Details of your assets and liabilities
  • Documents to prove your identity, such as a government-issued ID, passport, and more
  • Your bank account details
  • A building plan (if you’re building)
  • Evidence of your income
  • Legal representation details
  • A purchase agreement
  • An MLS listing
  • Proof of paid down payment

Important Terms to Know When Closing a Mortgage

Amortization – The amount of time it takes to pay off a mortgage.

Appraisal – An expert’s evaluation of a property’s worth.

Deposit – An initial payment to secure the purchase of a property.

Down Payment – The amount of money a buyer pays out of pocket for a property, usually expressed as a percentage of the purchase price.

Home Inspection Fees – Costs associated with having an inspector examine the structure of the property.

Loan-to-Value Ratio – A comparison of the size of the mortgage vs. the value of the property.

Prepayment Option – A feature available with certain mortgages that allows borrowers to make early payments on their principal amount without any penalties in some cases.

Property Transfer Tax – A levy charged when transferring ownership of a property.

Mortgage Loan Insurance – Compulsory insurance for mortgages with down payments lower than 20%, and its price is determined by the size of the loan.

Term – The length of your mortgage agreement, needing to be renewed, or finding another lender after completion.

Interest Rate – The cost associated with taking out a loan from a lender, and rates may vary between providers.


Turkin 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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