Step 1 : Connect with a mortgage broker.

It’s a great idea to connect with a broker because they:

  • Have access to over 50 banks and lending institutions
  • Save you time by shopping around to get you the best products
  • Provide you with a mortgage solution that meets your needs

Step 2 : Select your Mortgage Solution

Mortgages are complex, your broker can inform you about:

  • Open vs. closed mortgages
  • Fixed vs. Variable Interest
  • Amortization and term
  • Payment amount and frequency
  • Penalties & restrictions
  • Additional products

Step 3 : Calculate your budget

Trying to find out what you can afford? Your broker can help you:

  • Finalize your down payment amount
  • Use your RRSPs in your down payment
  • Establish your purchase price and the total mortgage amount
  • Learn tips and tricks to reduce the amount of interest you pay
  • Consider closing costs, insurance, land transfer tax and legal fees

Step 4 : Purchase & Approval

Time to buy! During this process your broker will:

  • Submit your mortgage application
  • Obtain your pre-approval
  • Support your home purchase and mortgage finalization
  • Submit all relevant documentation for approval