Mortgage Solutions

How We Can Help

BUYING

Whether it’s your first or next home, or a great investment opportunity, let us show you a few smart steps to get your mortgage off to a great start.

Your How-to Guide to Buying Smart

1. WORK OUT A BUDGET

You’ve got your home and neighbourhood in mind. It’s smart to meet with one of our experienced best Mortgage Brokers Nanaimo now to get a handle on much you can afford as a monthly mortgage payment.

2. GET EXPERIENCE ON YOUR SIDE

Our best Mortgage Brokers Nanaimo really are on your side, and can help you access great rates and mortgage options, and offer both traditional and innovative mortgage options that can meet your unique needs.

3. GET PRE-APPROVAL 

This is a smart step, as it ensures your best mortgage rates Nanaimo is guaranteed for up to four months. Home sellers will know you’re serious and you’ll have peace of mind knowing just what you can afford.

4. DO YOUR HOMEWORK

It is often a good idea to work with a real estate broker who can help you search for neighbourhoods and homes that meet your needs.

5. MAKE AN OFFER

Once you have found your home, your real estate agent will prepare a purchase offer on your behalf. Upon closing, you have 7 days to have your home inspected by a home inspector and to finalize your financing.

6. SAVE BIG WITH A LARGER DOWN PAYMENT

If it’s in your budget, consider putting more down. Talk to your Mortgage Broker for advice about how to save thousands.

7. FACTOR IN A FEW ADDITIONAL COSTS

Closing costs, Land Transfer Tax, Home Inspection and Property Tax and home insurance. Discuss these costs upfront with your Mortgage Broker and factor them into your budget so that there are no surprises.

8. SIGN ON THE DOTTED LINE

Your lawyer will finalize the paperwork a few days before closing, you will sign on the dotted line, pay the downpayment and any additional costs related to the purchase of the home.

9. WELCOME HOME

The title of the home will be transferred to your name on closing day, and you can pick up your keys. Now wasn’t that easy?

Refinancing

Your home is your best nest egg for the future. But you also want to enjoy life today. Refinancing your mortgage, especially if interest rates are low, is an ingenious way to have your cake and eat it too.

Your How to Guide to Refinancing your Mortgage

1. REVIEW YOUR REFINANCING OPTIONS

You may want to add that new kitchen you’ve been dreaming about, take a special vacation or even take care of your outstanding debt. To help you get there, you may want to reduce your term, switch from an adjustable-rate mortgage to a fixed-rate mortgage, or consolidate your first and second mortgages.

2. CHECK YOUR CREDIT

It’s a smart step to check your credit because lenders will do so. The better your credit rating, the more desirable your business will be to a lender. One easy step to start improving your credit rating is to not run up your balances to the limit on credit cards.

3. GO SHOPPING

Just like you shop for the best value on your groceries, your Mortgage Broker will go shopping on your behalf for the best interest rate and options. After all, a lower rate can save you big time in costs over the life of your new mortgage.

4. PREPARE A LIST

Your Mortgage Broker will need some basic information in order to move forward, such as your current lender’s details, how much you owe on your current mortgage loan, gross monthly income and the value of your home.

5. DO THE MATH

You’ll be offered a number of loan options, so discuss them with your Mortgage Broker and choose one that best suits your needs. Over and above considering the lowest rate, discuss whether a fixed or adjustable rate is better for your situation.

6. FACTOR IN A FEW ADDITIONAL COSTS

There will be a few fees and costs associated with this process, such as brokerage or underwriting fees or transaction, settlement, and closing costs. Your Mortgage Broker can discuss these with you and factor into the mortgage.

7. YOU’RE READY TO APPLY

Okay, it’s time to apply with your chosen lender. Be ready with a few required documents, proof of income, income tax returns, recent bank statements and your monthly expenses.

8. HOME SWEET HOME

That’s it. Once the paperwork is done, it’s time to take that vacation or begin your dream kitchen reno. Enjoy!

Renewing

Now that you’re in the last year of your mortgage, you’ll likely be receiving a letter from your existing lender to renew. Should you just sign it back? No way. Let us show you how to get the most out of your renewal.

Your How to Guide to Renewing your Mortgage

1. REMEMBER, YOU’RE IN THE DRIVER’S SEAT

You’ve got a track record as an owner, and lenders will want your business and will compete for it. That’s where a mortgage broker can really help. Your first step is to connect with us. With low interest rates and a growing selection of innovative mortgage solutions, you could potentially save thousands by shopping around.

2. COMPARISON SHOP

Our independent Mortgage Brokers know what’s going on in the marketplace, and can connect with over 50 lenders to find the best the best interest rate and options for your renewal. After all, a lower rate can save you big time in costs over the life of your new mortgage.

3. DO THE MATH

You’ll be offered a number of loan options, so discuss them with your Mortgage Broker and choose one that best suits your needs. Over and above considering the lowest rate, discuss whether a fixed or adjustable rate is better for your situation.

4. ASK FOR MORE

There will be a few fees and costs associated with this process, such as legal and administrative costs for transferring the mortgage, as well as a mortgage discharge fee. Your Mortgage Broker can ask to have these costs absorbed – it’s worth asking because it’s competitive out there.

5. SIT BACK AND RELAX

That’s it. Once your renewal is completed you can sit back and give yourself a pat on the back (and your Mortgage Broker too).

Let’s talk about your future

Now that you are ready to buy, renovate or invest, we can make it happen with our expert Mortgage Brokers, smart solutions and helpful advice. Let’s talk about your future today!

For All Your Mortgage Needs

Locations

NANAIMO:

101-5190 Dublin Way Nanaimo BC V9T0H2

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