FAQ

A mortgage broker acts as a middle person between you and lenders. I help you find the best mortgage product and rate based on your unique financial situation, saving you time, money, and stress.

In most cases, my services are completely free to you. I’m paid by the lender once your mortgage closes. Though depending on the situation, the fee may be charged to your proceeds directly but you will have full transparency before committing.

Yes. In Canada, the minimum down payment is:

• 5% for homes under $500,000

• 10% on the portion above $500,000 up to $1.5 million

• 20% for homes $1.5 million and over

For example, if you were purchasing a $1 million home you would need:

• 5% of $500,000 = $25,000

• 10% of $500,000 (on top of the first $500k) = $50,000

• Total down payment = $75,000

This minimum down payment would require mortgage default insurance.

• Fixed rate: Your interest rate and payments stay the same throughout the mortgage term.

• Variable rate: Your rate may fluctuate with the prime rate, which can affect your payments.

I’ll help you decide which is best for your situation.

It depends on your transaction but generally you will need:

• Proof of income (pay stubs, T4s)

• Employment letter

• Government-issued ID

• Bank statements

• Credit report (I will collect this with your consent)

Here are a few transaction-specific items:

• If you're self-employed or variable income:
  

  • Last 2 years of personal tax returns and Notices of Assessment

  • Business financial statements or T1 Generals

  • Proof of business registration or incorporation

• If you're using gifted funds for your down payment:
  

  • A signed gift letter from the donor

  • Confirmation that the funds have been deposited into your account

• If you're buying a rental or investment property:
  

  • Lease agreements

  • Proof of rental income

  • Property tax statements

• If you already own property:
  

  • Mortgage statement

  • Property tax and condo fee info (if applicable)

  • Home insurance details

Yes! There are options available for self-employed individuals or those with bruised credit. I’ll work with you to explore alternative lenders and solutions.

Yes. A pre-approval gives you a clear idea of your budget and shows sellers you’re serious. It also locks in a rate for up to 120 days. Just more peace of mind for everyone involved!

This is important! Some people use this term interchangeably but it's important to know which stage you are in.

• Pre-qualification: A quick estimate based on basic financial info.

• Pre-approval: A more thorough review of your documents and credit history, providing a more reliable borrowing amount.

While going to your bank can offer convenience — like having all your accounts, investments, and products in one place — that benefit is often limited. As a mortgage broker, I provide personalized advice tailored to your financial goals and timeline. I have access to a wide range of lenders and products, which means I can help you find a mortgage that truly fits your needs and specific goals, not just whatever option happens to be on the bank’s shelf.