we are committed MORTGAGE BROKER IN SCARBOROUGH

In the East of Toronto lies Scarborough, home to over 40,000 people. We welcome you here and hope you enjoy your new home. Just remember that we should be your first call when it comes to getting your mortgage done, regardless of what type of deal it is. Beacuse we are the best Mortgage Broker in Scarborough.

Banks advertise their rates, but those are not the lowest available. For our brokers, lenders have rates even lower than advertised, and those rates are what we will get for you. Because of the rapport we have built with local lenders, your process is guaranteed to be faster than it will be with any other broker. We ensure that.

For the fastest esidential mortgages, just give us a call. We will get to work right away for you so you can spend more time getting ready to move into your new home instead of spending that valuable time messing around with paperwork, paperwork, and more paperwork.
Not only are we the fastest at getting your deal closed out so you can get on with your life, but we are also the cheapest. Despite that fact, you still receive a better quality of service than you would with another broker. Our vested interest is in getting you the absolute lowest rates available.

Getting your house refinanced can be just as much of a trying time as it is when getting a new loan. Now that you know we are here, mortgage refinancing is the easiest it has ever been or ever will be.

We have highly trained staff members in the area of commercial property investment. This is why our highly qualified staff are getting any commercial mortgage as painless as it can be. Our people work closely with lenders to ensure you get the lowest rate in the shortest amount of time possible.

Here in Scarborough, we have made life easier by providing mortgage broker services that are unbeatable. If you would like your mortgage done quickly and professionally, give us a call today. We are here for you.

One of the decisions that you will have to make when you enter into a mortgage agreement is whether to take a closed or open mortgage repayment plan. It is important to understand the difference between the two because the wrong choice could ultimately cost you a lot of money.

• An open mortgage repayment plan – an open mortgage repayment plan places no restrictions on paying off your mortgage early. For this flexibility, they charge a higher interest rate. Open mortgage plans are typically shorter than closed plans, running for six to twelve months on fixed interest rates and one to five years on variable interest rates.
• A closed mortgage repayment plan – although most mortgages do come with acceleration clauses, a closed mortgage repayment plan restricts the size of your repayments. If you choose to pay the mortgage early you will pay penalties. The interest rates on a closed mortgage are however lower.

Whether you choose to go with fixed or variable interest rates for your mortgage depends very much on your personal circumstances and your appetite for risk. Here’s how they differ;

• Fixed interest rates – Fixed interest rate mortgages are by far the most popular choice in Canada. The interest rates on a fixed term mortgage will not change for the full term of the mortgage. A fixed term mortgage makes it possible to budget with certainty for the monthly repayments, which for some people is very important. Although fixed interest rates are higher over the longer term, many of these rates are highly competitive.
• Variable interest rates – Variable interest rates are tied to the prime interest rate and move up and down in tandem with prime. Over time variable rates are lower than fixed rates, but if you need the comfort of knowing exactly what your monthly repayments will be over an extended period, this option may not be for you.

Mortgage pre-approval is the process of calculating what size mortgage you will qualify for. During the quick and easy process (it shouldn’t take more than a few days) you’ll find out exactly the size of the mortgage you qualify for, what your repayments will be. You will also lock in the interest rates for between 60 and 120 days.

The benefits of getting mortgage pre-approval are

• You can save time and effort by looking only at properties that you can afford
• You may have a better chance of negotiating with the seller because he knows that the money is pre-approved
• Pre-approval will give you a better picture of what you can afford and can help you to budget.

Closing costs are costs incurred in the purchase of a house. They are paid over when the property is transferred from one buyer to another. These costs can be substantial and you should budget for them. Typically, they come to between 2% and 4% of the mortgage. These costs include;

• Land transfer taxes
• Home owner’s insurance
• Property appraisal fees – the lender will require an appraisal to verify the value of the property you plan to buy
• Legal fees
• Home inspection fee – required to satisfy yourself the home you plan to purchase is structurally sound
• Pre-paid utility bills
• Property insurance.