If you’re looking to purchase a home in Ontario you will need the services of an experienced mortgage broker.
Ontario mortgage brokers need to be licensed with the Financial Services Commission of Ontario (FSCO). Moreover, they need to be a Canadian resident, 18+ and meet certain educational criteria. An Ontario mortgage broker also must receive designation from the Canadian Association of Accredited Mortgage Professionals (CAAMP).
In order to determine if the Ontario mortgage broker you wish to work with is adept at finding the perfect mortgage package to meet your needs, ask them:
You do not have to pay a broker to help you secure funding for your new home. Mortgage brokers are paid a finder’s fee directly from the lender. If a broker is charging you for their services, get out of there!
In Canada, mortgages are province specific. That doesn’t mean that they differ from province to province, but that if you are looking for funding in Ontario, you will need to work with an Ontario accredited broker.
If you are thinking of moving to Ontario and purchasing a property, contact an Ontario mortgage broker to help you secure funding.
A mortgage broker will be the liaison between you and the lender. It’s important to work with an Ontario broker that you trust and have a good rapport with.Back
Canada’s mortgage website
Your home is your most valuable asset. It is probably the single largest investment you will make in your lifetime. Your home is more than a place to rest your head and raise a family. Your home contains equity. It is a treasured resource and in some cases, can even be used as an ATM (aka cash back mortgages and HELOCs – don’t worry we’ll get there).
We All Need a Mortgage
Everyone who is looking to purchase a home will need a mortgage. But, what is a mortgage exactly and why do you need it? Besides being the term to describe a loan secured by real estate, a mortgage allows you to access funding to procure your dream home.
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