Our goal is to make the mortgage process user-friendly and easy for everyone. We understand because we are homeowners so we realize the importance of getting the right mortgage for your home in these days. We believe that buying a home is usually one of the biggest purchases in our lifetime so it makes sense to have a smooth and efficient process when you are getting a home.
Unlike other banks and lenders, we do not let financing get in the way of getting your home. Our mortgage brokers will provide many different options on the type and term of mortgage you are looking for. We believe in offering all the options available. It’s your home, so why can’t it be your mortgage?
It’s about YOU That’s right. YOU! and Your Family Its time to change the way Ontario gets a mortgage. You should be the focus. Not the numbers in a computer. It is Your Mortgage, after all, It just happens to be the Biggest Financial Decision of Your Life The Biggest! Sounds scary, doesn’t it? So should you trust your financial future… …and the Hundreds of Thousands of Dollars it represents to someone that is trying to sell you a GIC, an RRSP, car insurance, home insurance... …and may even win an iPod if they sell enough of them this month? We don’t think so. Mortgage Search Ontario It’s all in the name and it’s all that we do. Apply to over 40 of Canada’s Best Lenders with one Application You can do it online right now. On your schedule, when you have time… …and in your pajama, if your want to. You don’t have to sit in a little glass cubicle at a bank and have someone say ‘It looks good to me but it’s up to Head Office. We’ll call you in a couple of days and let you know.” With Mortgage Search Ontario you’ll know in 24 hours!* No magic computer, no mysterious NO. If we can’t get you approved, we’ll customize a mortgage solution to get you approved. A one day at a time, step by step plan, to get the mortgage you deserve How does that sound? We thought so.
Income – A lender will look to see if your income is sufficient to pay the mortgage payments as well as keep up with all your other obligations, such as car payments & loan payments.
Debts – A lender will look at the amounts of your debts, versus the amount of your income. Also, certain debts are looked upon more favourably than others. For example, credit cards or lines of credit are fine, as long as they have been paid as agreed. Credit from Finance companies tend to be a less favourable type of credit. Try to avoid borrowing money from too many different finance companies. They generally have very high rates of interest and are usually associated with “Don’t Pay for One Year” sales at many retail stores.
Employment – A lender will look at your employment history. They like to see stable employment for at least two years. Work in the same industry or time spent in training, such as Doctors or Lawyers may be considered as stable employment.
Credit – This is the single most important factor when applying for a mortgage and it will determine the interest rate that you receive. If you have proven in the past that you can handle credit responsibly, you pay your bills on time and don’t over-extend yourself, you likely have a good credit score and will be rewarded by receiving a better interest rate. If you have struggled in the past, lenders may see you as higher risk and will charge a higher rate in relation to the risk.
Property Value – The value of the property is an important factor in the approval process. The lender will look to see that the purchase amount is reasonable for the type of property and it’s geographic location. Also, many lenders prefer to lend in densely populated areas where property values continue to rise and the properties sell quickly.
If one of the categories listed above is not at the level that the lenders would like to see (ie. credit history or employment history), we can focus on your strengths in other areas to get a mortgage approval for you.
The interest charge paid for for a debts for which property or home continues to be offered seeing that safety measures works as a mortgage rate of interest. Mortgage interest rates are probably essentially the most acutely tracked interest rates in America. For the reason that a smallish alter in this mortgage interest can impact numerous those who have utilized home to advance its purchase of your dream house. Mortgage interest rates are usually the dynamic macroeconomic indicator with the economy. Generally, a rise in mortgage interest rates leads to a drop-off home based product sales as well as refinancing.