Fast, Simple, and Free Pre-Approval – Your First Step to Canadian Homeownership
To begin the Mortgage Pre-Approval process, it is advisable to have a preliminary discussion with a Mortgage Broker. During the discussion, the Broker will ask a series of questions from the borrower regarding employment, income, credit, debt, and assets to determine how much you can afford to borrow. The borrower’s future plans are also discussed during the meeting so that appropriate Mortgage terms can be formulated.
The documents required for Mortgage Pre-Approval are listed below:
- Mortgage Application
- Identification
- Recent Pay Stubs
- Employment Letter
- T4 or T4A
- Bank Statements
- T1 Generals
- Business Financials
- NOA’s
- Business Licence
Before diving into the Canadian property market, secure your mortgage pre-approval with us. It’s an essential first step for any serious homebuyer in Canada. Our easy pre-approval process gives you a clear budget and empowers you to shop in the right Canadian neighborhoods. Plus, with our rate hold, you’re protected from any sudden interest rate hikes in the Canadian market.
Already on the Hunt in Canada? Let’s Get You One Step Ahead!
If you’re actively looking for a home in Canada, congratulations on this exciting journey! Partner with Equity Mainly Matters for a swift pre-approval and enjoy the peace of mind that comes with a secured rate in the Canadian market. Remember, a pre-approval is a conditional commitment from us, giving you a clearer picture of what you can comfortably afford in Canada.
Why Choose Equity Mainly Matters for Your Canadian Mortgage Needs?
- Client-Centric Approach: We understand the Canadian market and your needs always come first. We’re here to save you money and eliminate stress.
- Speed and Efficiency: We value your time, especially in the fast-paced Canadian housing market. Our processes are fast, ensuring you get the answers you need promptly.
- Comprehensive Options: With access to numerous Canadian lenders, we guarantee the most flexible rates and products for the Canadian market.
- Expertise and Personalization: Our highly-trained brokers offer tailored advice for the Canadian housing market, ensuring you get the right mortgage for your unique situation.
Ready to Get Started in Canada?
Your Canadian dream home is just a pre-approval away. Apply online now in just 5 minutes, or connect with us via phone. We’re excited to help you make one of the biggest financial decisions of your life – the right way, in Canada.
Discover More with Equity Mainly Matters in Canada
- Purchase Plus Improvements: Combine your Canadian home purchase and renovation costs into one manageable mortgage.
- Vacation and Second Homes in Canada: Simplify buying your next property in Canada with our streamlined mortgage process.
- Refinancing Options in Canada: Explore refinancing for potential savings or accessing needed funds in the Canadian market.
- First-Time Home Buyers in Canada: Start your homeownership journey in Canada with expert guidance and significant savings.
- Home Equity Line of Credit in Canada: Flexible funds are secured against your Canadian home when you need them.
- Renewals and Transfers in Canada: Before renewing elsewhere in Canada, talk to us – we’re committed to beating your current rate.
Our Rate Guarantee in Canada
We promise the lowest rate for your primary residence purchase in Canada. Find a better rate in Canada? That’s our commitment to you in the Canadian market.
Home Equity Loans Approved In Less Than 24 Hours!
Borrow against the equity of your Property
Services Provided
Here are the DO’S and DON’TS of the Mortgage Pre-Approval process:
The do’s |
|---|
| Apply for a Pre-Approval first before initiating the home-buying process. |
| Engage the services of a Mortgage Broker who will negotiate a great Pre-Approval rate on your behalf. |
| Gather all the documents required for a Mortgage Pre-Approval. |
| Stay in touch with your Broker until the Mortgage Pre-Approval is complete. |
| Read the Pre-Approval document carefully. If you have a family lawyer or accountant, have them review the document. |
The don’ts |
|---|
| Figure out how much Mortgage you can afford. Don’t get Pre-Approved over your Purchase budget. |
| Once you’ve submitted your documentation to your Mortgage Broker, don’t make any major purchases that can change your debt servicing ratios. |
| Don’t apply for any new form of credit like a credit card or a personal loan. |
| Don’t co-sign a loan for a friend or family member. |
| Avoid changes to your employment status like changing or quitting your job. |
I had a very pleasant experience working with Shawn Sef at Equity Mainly Matters Loans. We contacted Shawn looking for help in order to pay off our high interest credit card debts. Shawn made the process very easy for us by explaining the Mortgage loan details for the Debt Consolidation Mortgage Solution which he recommended for us. Shawn was actively present every step of the way and was very knowledgeable. I will definitely recommend Shawn to my peers due to his knowledge, professionalism and expertise.
Shawn is extremely passionate about his job. Shawn always demonstrates a positive and professional attitude. His easy going and friendly personality always makes the experience of working with him fun and stress free. Shawn made the entire Mortgage loan process very simple for me to which I’m thankful for. Shawn is very proactive and updates me on a regular basis in regards to my file.
Me and my husband had never worked with a Mortgage Broker before. I needed to consolidate all of my debts. I was paying high monthly interest fees to my creditors and my bank informed me that I couldn’t get approved with them because of my low credit score. Shawn did an excellent job by helping me consolidate and pay off all of my various high interest debts. I’m now debt free. My credit score has improved and I don’t owe creditors any monthly high interest payments. We went from paying $1,650 month towards our credit card debts and loans, to now paying only $520 month which helped us build up a good savings. Shawn rescued us from our creditors and helped us save an extensive amount of money for our families future.
As a first time home buyer, we required a Mortgage broker who was willing to be very patient with us and to explain every detail of the Mortgage loan process and provide us with as much information as possible. Shawn informed us of the exact required down payment amount (based on the types of lenders that we qualified for), fees, closing costs, Land Transfer tax etc. Shawn was very good in providing us with accurate rates, figures and calculations which we realized we could afford the monthly Mortgage payments and make the Home Purchase work. One other important factor was that Shawn kept on top of our file by updating the progress every step of the way which was very important to us. Shawn is very proactive which we appreciated!
Shawn helped our family obtain a low rate 2nd Mortgage from a Private Lender. Banks turned us down as we failed to meet their requirements for the stress test, income and credit criteria. However, Shawn was able to find various Private Lenders/Investors that were interested in making us an offer and we ended up taking a great offer for a 2nd Mortgage which made the most sense for us. We will definitely refer our family and friends to Shawn in the near future. I can’t say how much I appreciate all the time and effort Shawn put into our file.
Shawn demonstrates excellent customer service skills. He’s always very quick to respond to my emails and calls. Shawn helped me get approved twice in the past year alone and I hope to work with him again in the near future. Shawn was very friendly, attentive and dedicated his time and effort by providing me with solid knowledge, expertise and advice which in return helped the process of purchasing my first home very easy and stress free. Shawn even followed up on my behalf with my lawyer in order to finalize all the details. I would highly recommend his services.
From the first time I spoke with Shawn Sef, I felt comfortable and at ease which was due to his calm and patient personality and attitude. He was also very understanding and caring to our current situation and needs by providing the best course of action for us to take which made the most sense for our family. Shawn is very knowledgeable within the mortgage field and delivered exactly what he said he would. He even provided us with accurate closing/funding dates from day one. I would definitely recommend Shawn Sef to any borrower looking for a good
Mortgage broker.
Shawn had helped my wife and I obtain a 2nd Mortgage from a Private Lender last year. We used the majority of the Mortgage loan proceeds to help renovate/upgrade our home. Once the refurbishments had concluded, we ordered a new appraisal and noticed that our house value had increased substantially. The following year, Shawn helped us refinance both our Institutional and Private Mortgages into a new low rate, 1st Mortgage with an A Lender (Bank) which is going to help us save an extensive amount of money in monthly payments moving forward. I’m very thankful for Shawn’s knowledge, skills and expertise within the mortgage industry which ended up helping us save thousands of dollars.
Frequently Asked Questions (FAQs) About Canadian Mortgages
What is the difference between pre-qualification and pre-approval in Canada?
Pre-qualification is an initial assessment of your borrowing capacity based on your financial information. Pre-approval, on the other hand, is a more in-depth process that includes a credit check and a conditional commitment on the mortgage amount for Canadian properties.
How long is the rate hold period for mortgages in Canada?
At Equity Mainly Matters, we offer a rate hold for up to 120 days. This means your mortgage rate won’t increase during this period, giving you peace of mind as you search for your home in Canada.
Can I get a mortgage in Canada if I’m self-employed?
Yes, self-employed individuals can qualify for mortgages in Canada. We assess your income, credit history, and other factors to determine your eligibility.
What factors affect my mortgage approval in Canada?
Several factors influence mortgage approval in Canada, including your income, credit score, employment history, down payment size, property value, and existing debts.
How can I calculate my mortgage payments for a property in Canada?
You can use our online mortgage calculator to estimate your monthly payments. It considers the loan amount, interest rate, and amortization period specific to the Canadian market.
What are the current mortgage rates in Canada?
Mortgage rates in Canada fluctuate based on market conditions. Visit our website or contact us for the most up-to-date rates and personalized advice for your situation in Canada.