Agent license ID 141870
why work with a mortgage broker rather than your own bank?
Because you have options.
Your bank can only tell you about what they can offer, and it may not be the absolute best available. Unlike your bank, I can shop the entire market for you.
Going online to learn about mortgages and rates can be an overwhelming experience. I can use my 25 years of industry experience to find the mortgage that is the best fit for you.
Qualifying has become complex due to recently increased regulations and a rapidly changing financial landscape. Whether you are a first-time homebuyer or a seasoned investor, I can simplify the process to ensure you get the right mortgage working for you.
kiah's best Deals
5 year variable prime -.105%
Bank of Canada Qualifying Rate 5.34%
Prime Rate 3.45%
New mortgage rules have meant a change to how mortgages are 'priced', please email me directly for an accurate rate quote!
WHAT YOU NEED TO KNOW ABOUT INTEREST RATES
The mortgage landscape has changed and no longer does one rate for all.
Depending on a variety of factors your interest rate can vary drastically.
Here is a basic outline of what a Broker will need to assess before quoting a rate:
High Ratio Purchase/transfer: Insurable only & must qualify at 25 years amortization & the Bank of Canada Benchmark rate
Conventional Purchase: Qualified using a 25 - 30 year amortization & the greater the Bank of Canada Benchmark rate or the actual Contract rate + 2% .
If the deal qualifies using "insured" parameters it may be eligible for back end insurance and you will have access to best rate specials
Purchases with a purchase price over a million: All 3 Insurers will no longer consider properties with a purchase price over a million therefore they must be uninsured. Qualification is maximum 30 years amortization and the greater of the Bank of Canada Benchmark rate or the actual Contract rate + 2%
Purchases that require amortization of 30 years: Uninsured qualifying at 30 years amortization and the greater of the Bank of Canada Benchmark rate or actual Contract rate + 2%
Refinance: All refinances fall under the uninsured side and can qualify at 30 years amortization and the greater of the Bank of Canada Benchmark rate or actual Contract rate + 2%
Rental Properties: Not eligible for insurance, must qualify at the Bank of Canada Benchmark rate or actual Contract rate + 2%, a surplus to the rate will be added at all lenders.
Conventional mortgages: mortgages with at least 20% down
High Ratio mortgages: mortgages that have less than 20% down
Confusing? You bet. Contact me and I can help you get a firm quote.
My services are free
The lender pays the fees for you so it is a great deal. We use our large network of brokers across Canada to negotiate the best possible rates based on volumes with each lender. In addition to great rates, here are some examples of the many services I offer.
Do you need funds for a kitchen renovation? Would you like to consolidate debt?
Perhaps your mortgage is coming up for renewal and you aren’t sure if your bank is offering the best possible rate?
Whatever your need, I can guide you to accessing equity or get you the best rate based on your financial profile.
Stop! Don’t sign that renewal form!
Usually a lender will send you a higher than market rate hoping you will just sign and lock in. You’re likely are giving a lender thousands of dollars more than you should and lengthening your mortgage without even knowing it.
You’re not obligated to continue with your existing lender once your mortgage matures. I will shop the market and save you money.
Recently, there have been sweeping changes surrounding rental property purchases and refinances. I can guide you to the right lender if you are looking to buy a rental or holding property.
First-time homebuyers are my favourite kind of clients. I really enjoy helping people achieve their goal of first time ownership.
I will guide and inform you every step of the way. I want to ensure your experience is one that will start a lifelong relationship as your broker.
MOVE UP BUYERS
Your first move should be to call me.
With historically low interest rates it’s worthwhile to explore what other lenders are offering in the marketplace. Even if you are mid-term of an existing closed mortgage, I can quickly assess your situation and recommend the best strategy for you.
Self-employed buyers have a unique position in the market. Those who legitimately use tax write downs to lower taxes or only draw out a small salary/dividend can be impacted drastically for mortgage qualification.
I have working knowledge and access to various programs to provide solutions now as well as planning advice if you are looking to buy in the future.
REVERSE MORTGAGE (CHIP PROGRAM)
Have a lot of equity in your home and need funds for a specific need but you would prefer no monthly payments? This program may be right for you.
PRIVATE LENDING AND SECOND MORTGAGES
Today's stringent mortgage rules can occasionally mean that a traditional bank mortgage is not possible, I have a network of private investors that use their own common sense criteria to get you the finds you need.
I work for you, not the banks.
I work with a variety of lenders allowing me to shop rates and terms beyond your bank.
And, I do this with access to up to the minute rates and information, in a quickly changing marketplace, this is crucial. My services do not stop once I have you approved, if rates improve after you qualify, I will inform you and make sure you get the best possible deal.
You can rest assured knowing I am looking after your best interest so you don’t have to watch the market constantly.
Here's how it works.
The first step in the process is to fill out an application. This process is free and non-committal. No credit check will be conducted and no information will be shared without your consent. This step is for me only and intended to provide me with an overall sense of your financial profile and your specific needs in order to make informed recommendations for you.
After reviewing your application I will:
- let you know If there are any weaknesses in your application and provide recommendations to address them prior to applying;
- tell you your maximum purchase price and mortgage amount including criteria for your down payment;
- inform you about the documentation you'll need including deadlines;
- provide the names of the lender (s) I feel would be your best fit, along with their rates and terms;
- explain in detail the general buying/contract process;
- all the costs you should expect during the process;
- provide referrals to expert partners if needed, such as realtors, notaries, etc.