The world of home buying and mortgages can be overwhelming, especially for first-time buyers. That’s where we come in. Our expert mortgage brokers will simplify the process for you, making moving into your new home a breeze. They’ll help you secure the best rates and terms available, all within your budget and goals.
We are in your corner and will work for you to find the financing you’re comfortable with. Rest assured – our experienced team will guide you every step of the way.
Apply for your mortgage today
Defining Residential Mortgages
It’s rare for someone to buy a house and pay for it in full up front. Most Canadians just don’t have that kind of money on hand. That’s why the majority of home buyers seek financial assistance, through mortgage lenders. Lenders and borrowers come to an agreement, where the lender provides the borrower with the funds needed to purchase a property. Over a set period of time the borrower pays the lender back, with interest.
A Mortgage Broker can help simplify the process of searching for a residential mortgage. At FamilyLending.ca our experts have the experience needed to identify mortgage lenders that match your needs. Our team is fast and efficient and will save you the burden of researching the mortgage market. Our experts know where to look, and have their finger on the pulse of the market. They know where the best deals are and they know how to negotiate the best terms on your behalf.
The Process of Securing a Residential Mortgage
Applying for a residential mortgage may seem complicated, but we make it simple.
Here are some questions our experts are frequently asked:
How much do you have for a down payment?
Mortgages can be secured with as little as 5% down. A Mortgage Insurance Premium is also required if your down payment is less than 20% of your home’s total value. At FamilyLending.ca, we can help you develop a plan for this additional expense.
Should I choose a variable or a fixed-rate mortgage?
With a fixed-rate mortgage, the interest you pay remains constant throughout the payment period. With a variable-rate mortgage, the interest rate fluctuates with the market. If you are looking for stability, a fixed rate mortgage might be right for you. If you think the market will work in your favour, you might want to choose variable rate mortgage. We’ll help you explore the options, so you can make an informed decision.
Financial Information Needed
To effectively act on your behalf with the chosen lender as your mortgage broker, we’ll need to know your financial history.
An annual income statement, documents outlining current debts, information on savings, assets, and investments, along with any other applicable financial information is usually needed. Providing full and accurate information will help your broker secure the best deal possible and will help speed up the approval process.
Contact us today to get started, or simply fill our online application for mortgage pre-approval – it’s free, and there is absolutely no obligation.