(780) 920-4565
duane@cdnmortgages.ca
When it comes to Mortgages, Think Outside the Branch
It’s in your best interest
Why Me?
Because I love what I do. Purchasing a home is an important decision, that you should feel confident about.
As a mortgage broker I love helping you find that confidence by offering valuable insights throughout the process, saving you time, and finding the best mortgage rate that suits you and your family. But don’t just take my word for it, see what my clients say.
expertise
Independent and expert advice on your financial options. I am not tied to a specific mortgage lender or product so can offer you the best mortgage rate that matches your specific needs.
One-stop Shopping
Make your comparison-shopping fast, easy, and convenient. Instead of spending your valuable time taking time off work to meet your bank, I can help you with an evening or weekend call and it can be done all online or by email. I can quickly narrow down the list of lenders that will help you achieve your financial goals.
No Charge to You
Just as it says! There's absolutely no charge for my services on typical residential mortgage transactions.
Frequently Asked Mortgage Questions
What is a mortgage broker?
Mortgage brokers are trained professionals licenced to represent and give you the best advice for your home loan. Mortgage brokers are experts in locating funding for your home financing and finding the best rates.
Why use a mortgage broker?
Mortgage brokers are critical members of your real estate team. Good brokers can save you thousands of dollars in mortgage costs and make the application process simple. A skilled mortgage broker can be the difference between getting approved or declined by a lender.
How much does it cost to use a mortgage broker?
Mortgage brokers are paid by the lender, so there is no cost to you! If you require a private lender, however, you will be charged a fee since private lenders do not pay the mortgage broker. In this case, you will be made aware of the fee upfront.
Why should I go to a mortgage broker before I look for houses?
Talking to a mortgage broker and getting a pre-approval should be your first step in the home buying process. A pre-approval will allow you to understand how much you qualify for so that you can look for homes in that range.
Do mortgage brokers get better deals than many banks?
Mortgage brokers have access to numerous lenders including both public and private sources. Different lenders provide different financing products, some of which are not available at most banks and conventional sources. Brokers will get you the best deal for your situation.
How do mortgage brokers find the best rates?
Mortgage brokers have connections with lenders and brokers and thorough knowledge of interest rates. They know which homes attract favourable interest rates from certain institutions but higher rates at others. They keep current on changing interest rates and know which lenders to approach.
How much can I afford for a home?
The amount that you think you can afford and the amount that a lender thinks you can afford might not always match. Lenders compare your pre-tax monthly income with the monthly mortgage payment and other fees. They also consider your credit score and any outstanding loans including vehicle loans, credit card balances, etc. Getting a pre-approval is a great way to understand what purchase price you can afford.
What is the minimum down payment I will need to buy a home?
The minimum down payment is 5% of the purchase price. Lenders will need to see where your down payment is coming from through a 90-day history of accounts, a gift letter, or a paper trail. While it is possible to qualify for a mortgage without a down payment, specific conditions must be met.
What is a mortgage pre-approval?
A pre-approval is a basic application that determines the purchase price of a home that you can afford. Once you have a pre-approval, you can begin house hunting with a budget in mind. You also don’t have to worry about a spike in interest rates since the pre-approval gives you a guaranteed interest rate for up to 120 days.
Is applying for a mortgage online secure?
Applying online is very secure. If you are not comfortable providing specific information such as Social Insurance Numbers or other details online, you can leave that information blank and I will get those details from you later.
Can I get extra money for renovations with my mortgage?
Yes, it is possible to get money for renovations if you plan on doing renovations in your new home. This is called purchase plus improvement, and it requires quotes for the work, and you will have to pay for the renovations up front. Once they are completed, the bank will release the funds to you.
What is mortgage default insurance?
Mortgage default insurance is a requirement for all homeowners who put less than 20% down for a down payment. The smaller the down payment, the larger percentage the insurer will charge. Default insurance is often referred to as CMHC insurance, although three companies in Canada offer this insurance.
Do I need mortgage life and disability insurance?
You are not obligated to have life and disability insurance to have a mortgage, although we do recommend it. Mortgage payments are major financial obligations and insurance is there to help protect yourself and your family if death or accidents occur.
Featured Mortgage Offers
Peace of Mind Cash Back
With Covid-19 mortgage clients are looking for comfort and peace of mind. Available for new clients on a standard fixed mortgage.
- 1 - 3% of the total loan amount
- Receive cash back directly for closing costs, furniture, and other expenses*
*Cannot be used toward down payment
Purchase + improvements
Have you ever walked into a house and love it, but needed some TLC or upgrading?
Get up to 10% of the home value for improvements you want done by rolling the costs of renovation into a purchase-plus-improvements mortgage. You can make a good house GREAT!
- Receive $30,000 for renos on a $300,000 purchase
invest or flip for as little as $10,000 down
In this market there are great opportunities to buy a home to fix up and flip.
That’s right! For as little as 10k down.
Which means you can keep more of your capital to renovate and resell.
Happy Clients
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Duane is very efficient, professional, patient and informative. All of this stuff is way over my head, but he made the whole process feel easy and enjoyable. I Can't... read more Mikaila P
November 18, 2021 Duane was amazing to work with. He made purchasing our first home a stress free process. He went above and beyond for us! Considering we were not using a realtor,... read more Jared Bezovie
November 18, 2021
