Buying your first home is both exciting and nerve-racking and with recent changes to Canadian lending regulations and increases in interest rates, it has become even more troubling.
Obtaining a mortgage is not easy. You must save for a down payment and closing costs. You have to research on home loans and the application process. You must prove to your lender of choice that you can afford to make the repayments. The lender will examine your income before taxes, your living expenses and debts, and your credit score to determine how large a mortgage you can afford for your Toronto home and over what period.
For first time homeowners, there are a number of federal government incentives to help you to take the big step. You can apply for the following incentives
...pick the one thats right for you.
|HELOC||4.2% (prime + 0.25%)|
First National Financial
Street Capital Bank
|5 year variable||1.15% (prime - 1.3%)|
|3 year variable||0.99% (prime - 1.46%)|
|Line of Credit||Starting at 3.00%|
|Equity Loans||Starting at 5.99%|
|Private Mortgages||Starting at 4.99%|
It is important to be aware first of all that the province of Ontario has a number of government program that assist first time home buyers. Please take your time to take a look at some of these initiatives as they make things much easier for you. The main programs are: Home Buyer’s Plan (HBP), Land Transfer Tax Rebates for First Time Home Buyers, First Time Home Buyer Tax Credit (HBTC). With a combination of these programs and our help you can save many thousands of dollars. Take advantage of these amazing opportunities!
Getting a private mortgage was not easy to be honest, but at least with Mr. Leon it was doable. Thank you for your help!
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
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.
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!!
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.
…by providing award winning customer service to each and every single client.
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