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Obtaining a Toronto Mortgage is not Easy

Buying your first home is both exciting and nerve-racking and with recent changes to Canadian lending regulations and increases in interest rates, it has become even more troubling.

Obtaining a mortgage is not easy. You must save for a down payment and closing costs. You have to research on home loans and the application process. You must prove to your lender of choice that you can afford to make the repayments. The lender will examine your income before taxes, your living expenses and debts, and your credit score to determine how large a mortgage you can afford for your Toronto home and over what period.

Government Incentives for First-Time Homeowners

For first time homeowners, there are a number of federal government incentives to help you to take the big step. You can apply for the following incentives

  • Land Transfer Tax Rebates for First Time Home Buyers – You will qualify for a land tax refund of up to $2000
  • Home Buyers Plan – You may withdraw funds to the value of $25000 tax-free from your registered retirement savings plan to use for the purchase of your home. This you must pay back over time.
  • First Time Home Buyer Tax Credit – A $5000 non-refundable tax credit to help with the closing costs of your first home. You can claim this amount on your annual tax return.

Assistance for First-Time Home Buyers

Get Your First Mortgage Without Stress

Buying a home for the first time is both a nervous and an exciting process. It means that you have already achieved some stability in your life and are ready to make an investment. At Toronto Mortgage Brokerage we want this time in your life to be as simple and stress free as possible. We want you to enjoy your first home and not worry about the loan or possible debts.

We Help You to Make the Right Decision

There are many different processes involved when purchasing a home and it is important to have an expert by your side to lead you throughout the way. We will explain every detail and answer every question so that you are prepared and confident to make the right decision that suits you.

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Featured Rates

FIXED

LenderRateTerm
Mortgage Lendwise RateLendwise

3.40%

5-Year
Mortgage First National Bank RateFirst National Financial

3.59%

4-Year
Mortgage RMG RateRMG Mortgages

3.29%

3-Year
Mortgage Street Capital RateStreet Capital Bank

3.19%

2-Year
Mortgage TD Bank RateTD Bank

3.19%

1-Year

VARIABLE

TermRate
5-Year Variable

2.75%

3-Year Variable

3.35%

OTHER

TypeRate
Line of CreditStarting at

3.00%

Equity LoansStarting at

5.99%

Private MortgagesStarting at

5.99%

Do You Have Financial Stability?

19918

HST New Housing Rebate

19918

Mortgage Loan Insurance Rebate for Energy-Efficient Homes

19918

CMHC 5% Down Payments

Contact Us to Get 0 percent mortgages TorontoIt is important to be aware first of all that the province of Ontario has a number of government program that assist first time home buyers. Please take your time to take a look at some of these initiatives as they make things much easier for you. The main programs are: Home Buyer’s Plan (HBP), Land Transfer Tax Rebates for First Time Home Buyers, First Time Home Buyer Tax Credit (HBTC). With a combination of these programs and our help you can save many thousands of dollars. Take advantage of these amazing opportunities!

Terms Related to Mortgages

Down Payment – You must have at least 5% as a down payment on your home. The bigger the down payment the better the interest rate that you can negotiate. A mortgage with a down payment of less than 20% will be subject to mortgage insurance. This is added as a lump sum to your mortgage and will increase the repayment amount.
Term – this is the period of your mortgage during which the terms and conditions will remain unchanged. This period can be anything from six months to ten years.
Amortization – the period that it will take you to pay off your property. This is usually 25 to 30 years.
Fixed Mortgage Rates – Favored by first time home buyers, in terms of this contract the interest rates are fixed over the term of the mortgage. This will cost a little more but it ensures that you can budget since the repayments over the term will remain the same even if the interest rates move.

Variable Mortgage Rates – are linked to the prime interest rate and will change in line with changes in the Central Bank’s call rate. The advantage of variable rates is that they are typically lower over the longer term. However, if you have a low tolerance for risk, you should avoid this path.
Mortgage Penalties – A very important consideration for any lender, this is the amount that you will pay to your bank should you pay your mortgage early. Banks charge different penalties and they can cost tens of thousands of rand if the contract is broken.
Pre-Payment Privileges – lenders will allow you to make early payments of 10% to 20% to your mortgage without incurring penalties. Making higher payments onto your bond can save you thousands in interest over the term of the mortgage.
Buying a home for the first time is a big step and mistakes can cost a lot over the term. Certified Mortgages Brokers Toronto can help you navigate the pitfalls.

OUR CUSTOMERS LOVE US

My wife and I recently purchased our first place, so we started to look for a mortgage broker. Neither of us really knew what we were doing, so it was important to us that we could find someone who could guide us through the whole process. After some searching we finally stumbled upon the guys at certified mortgage broker We worked with leon and his team, got a great rate and they took their time to explain and guide us through the whole process. Great rates and great service. Would absolutely recommend.
Linderman Beadles
Linderman Beadles
06:16 26 Feb 18
Got tired of sow service and mediocre rates from my bank, so I started looking for a mortgage broker. Had some family friends recommended Leon and his team, so decided to check them out. Was very impressed with Leon, he guided me through step by step, recommended a mortgage and I ended up switching to him. My rate is better and he always answers call and emails right away.
Gina Carroll
Gina Carroll
05:06 28 Feb 18
Was looking for a new mortgage broker, my old one moved so had to find someone else to work with. Didn't really know how to go about it so just started googling. After some searching and talking, decided to go with the guys at certified mortgage broker. No one could match their rates, plus their customer service is honestly some of the best i’ve seen.
Deane Laflamme
Deane Laflamme
04:40 27 Feb 18
My wife and I recently purchased our first place, so we started to look for a mortgage broker. Neither of us really knew what we were doing, so it was important to us that we could find someone who could guide us through the whole process. After some searching we finally stumbled upon the guys at certified mortgage broker We worked with leon and his team, got a great rate and they took their time to explain and guide us through the whole process. Great rates and great service. Would absolutely recommend.
Stephnie Boyles
Stephnie Boyles
13:59 15 Nov 17
Got tired of sow service and mediocre rates from my bank, so I started looking for a mortgage broker. Had some family friends recommended Leon and his team, so decided to check them out. Was very impressed with Leon, he guided me through step by step, recommended a mortgage and I ended up switching to him. My rate is better and he always answers call and emails right away.
Billye Peralta
Billye Peralta
13:38 19 Nov 17
Was looking for a new mortgage broker, my old one moved so had to find someone else to work with. Didn't really know how to go about it so just started googling. After some searching and talking, decided to go with the guys at certified mortgage broker. No one could match their rates, plus their customer service is honestly some of the best i’ve seen.
Moore Hoover
Moore Hoover
02:25 16 Nov 17
We worked with Leon and he provided a thorough and a professional process in re-financing our mortgage. Communication was consistent, he was easy to reach and documents were processed quickly. Most importantly, we got a great rate that has us savings hundreds of dollars per month on our home. These guys really know what they're doing.
Melissa Brown
Melissa Brown
00:12 18 Jul 17
As third time home buyers we couldn't be happier with the service we got from Certified mortgage broker. The team did a great job working on our loan. Everything was fast, easy and transparent. Probably the best mortgage experience i’ve ever had.
Riley Clements
Riley Clements
15:27 20 Jul 17

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