Certified Mortgage Brokers are dedicated to ensuring that property buyers, whether residential or commercial get the best deals. It is our mission to deliver the best results to our clients based on their financial needs. Our services include residential and commercial mortgages and mortgage refinancing.
Located in Hamilton- we are your local neighborhood mortgage experts. We know EXACTLY where you are coming from.
Experience working with independent local professionals with access to hundreds of financial products to help you get the best mortgage that fits your needs. Whether it is a specific rate, term or condition that is a priority for you, we can help.
The key to a smooth transaction is knowledgeable and experienced brokers who can crunch the numbers, have established relationships with lenders as well as communication skills to educate the client in simple English in all the Pros and Cons of each of the products.
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A mortgage is a loan you take out from a bank or other lender in order to buy a property. The loan allows the lender to make the purchase without having to pay the entire sale price up front.
When you take out a mortgage, you will need to pay a certain amount of the price of the property, with the remainder covered by the loan. This up-front payment is called the down payment, and in Canada the minimum is around 5% for properties valued up to $500,000. If the price is more than $500,000 you will pay an additional 10% down payment for the value above that (i.e. if the price is $1,000,000 you will pay 5% on the first $500,000 and 10% on the remainder).
Two terms you need to understand are the mortgage term and amortization term. The mortgage term is the term of the loan and the interest rate you will be charged is effective up to the end of the term. You may not have paid off the loan completely at the end of the mortgage term and will have to renegotiate the loan to continue making payments.
The amortization period is the length of time it will take to completely pay off the mortgage, based on making regular payments at a given interest rate. A shorter amortization term means you will pay off the mortgage quicker but will have to make higher payments, while a longer term means smaller payments, although you will be charged a higher interest. The longest allowed amortization period is 25 years.
I would just like to thank Certified Mortgage Broker Toronto on behalf of me and my husband. Everything worked out perfectly and we got an excellent rate. We picked up our keys and everything is great. Could not recommend them enough. Excellent service and excellent team. Thank you.
I don't usually write reviews, but with CMBT I felt obliged to. Absolutely AMAZING service, I never chased these guys and they were always very clear with my options. They went above and beyond to find me the best rates and were very clear and understanding. They explained everything and made the whole process easy, I really could not recommend these guys enough.
Great guys and great service. The whole process was quick and done very professionally. They had the best rates we could find and were very helpful with explaining the whole process and all our options. Will absolutely be using them again.
After my first bad run in with mortgage brokers I had a coworker refer these guys to me, and I can honestly say this was a quick, easy and all around great experience. Being a first time home buyer I was kind of worried I was getting in over my head, but the team At CMBT was very understanding. They walked me through the whole process and answered all of my questions. They found the best rates and we went over them together. These guys are honestly a pleasure to work with and I would absolutely recommend you check them out if your looking for a high quality mortgage broker service.