Your mortgage broker in Montreal

You are ready to take action and start visiting properties.

What down payment will be required? What expenses are to be considered in the purchase of a house, condo or rental property? What are the steps when getting approved for a mortgage ? What are the types of mortgages offered and what products are available? How to make the term choice and how to choose between a fixed or variable interest rate?

When analyzing your financial situation, required for a mortgage pre-approval, the mortgage broker will be able to offer you valuable advice.

Getting a bank pre-authorization from your broker will bring you its advantages:

✔ Pre-authorization (commonly known as prequalification and pre-approval) will tell you the maximum amount you can borrow and thus the maximum price of your purchase, all in relativity to your financial situation.
✔ It will enable you to visit properties that will be accessible to you.
✔ A pre-approval will give you credibility when applying for your mortgage, as well as with the real estate broker and the vendors.
✔ Obtaining a pre-qualification allows you to obtain an interest rate guaranteed for a given period (usually between 90 and 120 days). You are consequently protected from interest rate increases until your pre-approval expires.
✔ Getting pre-qualified for a purchase is easy, it's free and it does not commit you to anything.
✔ The work done with your mortgage broker when financing your purchase will be less difficult. Several steps will have already been made through the pre-approcal process.

You have found the property that suits you and the promise to purchase has been accepted .

The deadlines for obtaining your financing start from then on.

As a rule of thumb, you will have between 7 and 14 days to lift this condition. This is when your mortgage broker comes into play.
The broker will help you finance your project. The range of services offered by the broker includes:

✔ First purchases
✔ Purchase of a house, condo, rental property (duplex, triplex, etc.) or secondary property
✔ Newcomers Program
✔ Self-Employment Program
✔ Home Buyers' Plan (HBP)
✔ Mortgage Line of Credit
✔ Purchase with renovations

With access to several lenders, the broker will find the mortgage product best suited to your needs and will guide you through the various options available in the market.
Then a few years later when your term expires, do not hesitate to renew your mortgage with your broker to take advantage of new offers.

Mortgage refinancing allows you to borrow up to 80% of the estimated value of your home minus the balance of your current mortgage.

The refinanced amount can then be used by the borrower to:

✔ Renovate your property
✔ Consolidate your debts: the advantage of this option is that it allows to group all the debts in one same place, thus facilitating the payment of the debt, through a single payment with a moderate interest rate
✔ Finance studies or travel
✔ Buy another property using this money as a down payment