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Your Trusted Mortgage Broker in Kanata

Certified Mortgage Brokers in Kanata are the best agents to work with when you’re looking for additional funding to make your property acquisition journey smooth. We understand that the mortgage application process can be hectic, and we want to eliminate that stress for you. We have the kind of agents that will not take advantage of you no matter what your circumstances are.

We are honest and experienced. We will also display a high level of professionalism as we provide you with the answers and assistance you need to get the right type of mortgage.

Why us as Mortgage Brokers in Kanata?

We make mortgage closing simpler

Different needs require different types of mortgages. For example, the mortgage you’ll need to consolidate your debts and the mortgage you need to buy a new house is not the same. Each type of mortgage also has different conditions and terms that you must consider before signing off. All these can be confusing if you don’t have professional mortgage agents to help you out. With Certified Mortgage Brokers by your side, you’ll have the best solutions for your needs, and you’ll avoid the hassle that is usually associated with mortgage closing.

We bring the best mortgage rates closer to you

Applying for a mortgage is not something to shy away from, as most people need financial help at some point. While mortgages can help you invest in the properties you want, they can have conditions that make them impossible to pay back. We can help you get the best mortgage deals in the market. We can also help you with flexible and fair terms and conditions that will allow you to budget effectively and pay the loan within the agreed payment term. We have lenders that we have worked with for a long time, and that places us in a better position to help you even if you cannot access the loans from banks.

Our agents are experts at mortgage refinancing

Through mortgage refinancing, you can get a new loan that replaces your old mortgage or other debts. However, the application process can be a tricky one because of the many details involved. You not only have to think about renewing the term, but you must also make sure the money is transferred to the right places, and the old debt is cleared. Mortgage refinancing depends on the value of your property. You need to consider whether this type of mortgage is ideal for you before starting the application process. Our mortgage broker will give you professional advice and help you explore your other options to ensure you get the best deals.

We provide personalized mortgage services in Kanata

Customization of services is always paramount if you’re looking for customer satisfaction. Every client has different needs, even if you’re looking for the same type of mortgage. You need mortgage agents that can differentiate your needs and provide befitting solutions that are specifically tailored to meet those needs. Our mortgage brokers in Kanata will make sure you achieve your financial goals by looking for the best rates, loan conditions, and fees for your lifestyle or financial ability. We give you advice, but we allow you to choose a suitable mortgage lender from the options we provide.

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Cost-saving and time-saving are important to us

You can always look for a mortgage lender on your own, but you can be sure that you’ll use a lot of resources, and it will take longer for you to find a suitable one. It is easier to have mortgage agents connect you with a lender, especially when the brokers have several contacts. We have varied options that make it easier for you to find the best fit within the shortest time. You can never go wrong with our agents regardless of your circumstances.

The mortgages services we deal with

First-time mortgages

Every young adult has a dream to own a property, but in most cases, the means to achieve those dreams are usually limited. The challenges you may face when trying to get the funding to make your dreams come true can force you to give up on your dreams, but we are here to prevent that from happening. Our licensed mortgage agents can help you get a befitting mortgage that you can afford. We recommend that you compare your debts and income to avoid a situation where you will not be able to pay your debts.

HELOC

This mortgage can give you up to 65% of the property equity, and it is one of the most flexible. It is also one of the easiest mortgages to get, making it the perfect mortgage option when you want to consolidate your debts. You can get more from a HELOC mortgage when you work with a mortgage broker. Research has proven that such brokers can get better mortgage terms for their clients and save you a lot of money in the process.

Construction financing

You can always get help when trying to buy a newly-built house or when you’re having construction done. In case of the former, the lender will pay the construction company as soon as you take possession of the property. In the case of the latter, your lender will form an agreement with the construction company to be paying them when they complete a milestone. The lender works with an inspector that assesses the building at specific durations to ensure the contractor is only paid for the work they’ve done. If the construction isn’t completed as expected, you’ll have to incur the additional costs from your pocket.

Renewing mortgages

Renewing your mortgage means letting a new loan take over the old one. Such a move is necessary when you reach your payment term without completing your payments, or if you’re not content with the services your current lender is giving you. Your lender will notify you about the renewal a few weeks before the expiry date of the old term. You can get a new term that fits your financial status. You should consider additional costs such as the cost of changing lenders and the new interest rates. Certified Mortgage Brokers can negotiate a lower interest for you.

Mortgages by private lenders

Private lenders offer a reprieve to borrowers that have been turned down by traditional banks. They are not restricted by the same rules and are therefore best suited for you if you have poor credit history or score. All you need is valuable property to use as collateral, and you can get up to 90% of the equity from a private lender. The level of risks private mortgage lenders face is higher than what their traditional counterparts deal with. You should be prepared to pay more rates and have a shorter repayment term when getting a loan from them. It’s still possible to get affordable interests when you get help from mortgage agents that have experience dealing with different types of private lenders.

Second mortgages at competitive rates

By nature, second mortgages are more expensive than first mortgages, but they are still a viable source of funding if you have high-valued property. You need to do an appraisal as well as property valuation by several real estate agents if you want a second mortgage. The rates and the terms and conditions will most likely depend on the value of your property. You’ll also incur the closing expenses and the appraisal expenses from your pocket. It’s possible to calculate the mortgage you can qualify for before looking for a lender by calculating your LVT ratio.

Refinancing

Mortgage refinancing is always a good option if:

  • You want to save by paying lower interest rates
  • You don’t want to pass up an investment opportunity, and you don’t have enough funds
  • You can't take care of your financial need

The new mortgage may give you financial relief, but it also comes with other responsibilities that may make it harder to make payments.

You should consider the potential gains with the potential penalties and disadvantages before agreeing to take the loan. You should also consider the mortgage options to ensure you choose the best one for your lifestyle. Our agents will be with you every step and will give you the best advice and honest opinions.

Mortgages for self-employed

Self-employed people face serious challenges when trying to get mortgages from banks. The rules that govern such lending institutions require a steady source of income that the self-employed category may not be able to provide. Businesses have their high and low moments, which means that you may be able to make more payments at specific times and less payment during other times. Private lenders provide the solution to such a predicament, but they also have their terms and conditions that may prove to be too costly. Our brokers have the know-how to get you the best private lenders and the best deals.

Google Reviews

Certified Mortgage Brokers
5
powered by
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 Kanata

Commonly asked questions about mortgages in Kanata

What is a mortgage?

The type of loan you take against your property is called a mortgage. You get into a written agreement with a lender who takes possession of your property until you pay back all the money they gave you. You can take a mortgage when you want to buy a new property, and you have limited funds or when your debts are beginning to overwhelm you. Some types of mortgages are also suitable for other investments that require large amounts of money. Mortgages involve interests as well as the principal amount. Failure to pay both can lead to forfeiture of your property.

How much will I have as a down payment?

20% of the total property price or more is ideal, but you can also pay as low as 5%. However, the lower the down payment, the more the mortgage and the higher the chances of encountering other expenses, such as the Mortgage Default Insurance. You also pay more interest when you pay less down payment.

What are the available mortgage payment choices in Kanata?

  • Open plan You get more flexibility and can choose the fixed-rate plan that comes with six months to a one-year term, or the variable rate that you can pay within three to five years. You can pay any amount at any time and can complete the payments early without facing penalties.
  • Closed plan With this plan, you can’t complete your payments before the agreed term is over. Doing so will result in more expenses in the form of penalties. You can agree with your lender to allow you to make large payments so long as you don’t complete the loan before your term.

Benefits of a pre-approved mortgage

Applying for pre-approved mortgages means giving the potential lender your financial information in advance. They determine the amount of loan you qualify for and a suitable payment schedule. Benefits of this mortgage include:

  • Time savings and expenditure of fewer resources during the search for a lender
  • Easier budgeting since you’ll know the expected down payment beforehand
  • Better chances of getting the loan as a result of the lender accessing your financial information early
  • Short approval periods

Terms to familiarize with when closing a mortgage

  • The duration of the loan is called amortization
  • The evaluation that is done to get the value of the property is an appraisal
  • A deposit is a payment to show interest in the property
  • Down payment refers to a percentage of the total cost that you pay from your own pocket before the mortgage pays for the remaining amount
  • The amount you pay to confirm that the structure of the property is in good shape is an inspection fee
  • LVT- The property value against the mortgage. It is also called Loan to Value Ratio
  • The option you get when you choose the closed payment plan, but you want to make early payments is the pre-payment option. Some of the options may have penalties, and some may not
  • When you’re involved in the transfer of a property, you pay a property transfer tax
  • Paying than 20% of the down payment results in Mortgage Loan Insurance
  • The loan term is the period you take to pay it back. It is renewable

What is the difference between fixed and variable rates?

When you choose variable rates, you can’t determine what your regular payments will be. The interest rates change frequently, making it difficult to predict your next payment. On the plus side, they are lower than fixed rates.

Fixed interest rates offer you consistency in terms of repayment. You always know the amount you’re expected to pay every month, and you can use that information to plan well. It works great if you need to budget with limited funds.

You can never go wrong with the licensed mortgage agents Certified Mortgage Brokers in Kanata provide. We strive to please our customers by using our lender contacts whenever necessary. We also maintain honesty and will always give you professional advice when you contact us. Our team is experienced, knowledgeable, and reputable. Call us now for customized mortgage services in Kanata.

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