What are we offering:
Finding the right mortgage for your new home can feel overwhelming. Our residential mortgage services offer a variety of options, from fixed-rate and variable-rate mortgages to specialized programs for first-time homebuyers. Let us guide you through the process and help you secure the best rates available. Our Residential Mortgage products below:
->Fixed-Rate Mortgages: Lock in your interest rate for the entire term of your mortgage, providing predictable monthly payments and financial stability throughout the loan period.
->Variable-Rate Mortgages (VRM): Benefit from a lower initial interest rate with the potential for savings as the rate adjusts according to market conditions. We offer both Adjustable-Rate Mortgages (ARM) and Fixed-Variable Mortgages (FVM):
- ARM (Adjustable-Rate Mortgages): The interest rate adjusts periodically based on the prime rate or a set index, potentially offering savings if market rates are favorable. Payments may change with the interest rate fluctuations.
- FVM (Fixed-Variable Mortgages): A hybrid option where the interest rate is variable, but the payments remain fixed for the duration of the mortgage—unless the loan reaches a "trigger point" (usually when the balance or interest rate changes significantly). This allows you to benefit from lower rates without the uncertainty of fluctuating payments, but if the rate changes too much, the payment amount may be adjusted to keep the loan on track.
Other Services
->High-Ratio Mortgages: For buyers with a down payment of less than 20%, this type of mortgage requires mortgage default insurance (e.g., CMHC or Genworth), which helps make homeownership more accessible.
->Conventional Mortgages: For buyers with a down payment of 20% or more, these loans typically do not require mortgage insurance and may offer more favorable terms and interest rates.
->First-Time Homebuyer Mortgages: Specialized options designed to help new buyers get into the market, including government-backed programs such as the First-Time Home Buyer Incentive (FTHBI) and Home Buyers’ Plan (HBP), which allow you to withdraw funds from your RRSP for the down payment.
->Self-Employed Mortgages: Tailored solutions for Canadians who are self-employed or have irregular income, allowing for more flexibility in documenting income and expenses.
->Government-Backed Mortgages: Includes CMHC-insured mortgages, which allow for down payments as low as 5% for first-time buyers, and more flexible credit and income requirements, making homeownership more attainable.
->Cash-Back Mortgages: A unique option where you receive a lump sum of cash back at closing, which can be used for things like renovations, moving costs, or other immediate expenses.
->Reverse Mortgages: Available for Canadians aged 55 and older, reverse mortgages allow homeowners to access the equity in their homes to supplement retirement income, with no need to make monthly payments.
->Bridge Loans: A short-term loan designed to help buyers bridge the gap between purchasing a new home and selling their current one, ensuring you don’t miss out on your dream home while waiting for your existing property to sell.
->Vacation/Second Home Mortgages: For Canadians looking to purchase a secondary property, these mortgages offer specialized terms for buying cottages, cabins, or other recreational properties.