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The Mortgage Pre-Approval process is completely free and does not tie you down to any particular lender. It does however allow you to lock in an interest rate for a future purchase and protects you from any rate increases while shopping. Of course, if interest rates were to drop in the meantime the lower rate would apply when you have a formal accepted Purchase Contract in place.

Beginning a relationship with a mortgage broker should be the first thing you do when starting to look at buying property. When approaching a realtor, they will typically ensure that prospective buyers are pre-approved for financing before looking at properties to ensure they are staying within budget. Having a good bearing on what you will qualify for will also allow you to act quickly and be confident making an offer.

First Time homebuyers are buyers who have never owned a home before, generally speaking this will be your owner occupied home. There are some programs available for this buyer including government grants, ability to borrow from RRSP for down payment and more.

There are many reasons to refinance. Perhaps the mortgage has reached the completion of it’s term and an opportunity is presented to take out funds for purchasing another property, buying a business or consolidating high interest credit cards for an easy monthly payment. Sometimes it even makes sense to pay a penalty to get out of your current mortgage and take advantage of lower rates for long term savings.

It’s not always in your best interest to just sign on the dotted line when you receive the renewal notice from the current lender. Perhaps it’s worth having another look to see if your current needs are being met. Take this opportunity to lower interest costs, increase cash flow. There are many advantages in exploring your options.

You may be looking to finance a vacation home or purchase a residential investment property. Both of these home ownership goals can be achieved through a variety of financing options.

Many people choose to build custom homes with special features to suit their lifestyle and personal taste. Some builders are able to custom create the floor plans to your exact liking or one can also choose to self build which is complicated and can create financial challenges which is why prior knowledge in this area from your mortgage broker is key.