Your Trusted Ottawa Mortgage Broker!

…a GTA based brokerage with a decade of experience under its belt.

Best Mortgage Brokers in Ottawa!

You leverage on both expertise and experience when you choose Certified Mortgage Brokers in Ottawa. We deliver reliable services that are custom tailored to you specific needs. We offer you the following:

5% Mortgages

The minimum mortgage down payment in Canada is 5%. However, note that this really low down payment is not for everybody. It may work well for some but it may not be a good option for others.
For one thing, it is a pretty affordable option to start with. However, note that low mortgages require insurance on the possibility that you will default on your payment.

0% Mortgage Down Payment

We can also arrange a 0% down payment when you purchase new property. Note that you will still be paying the minimum 5 per cent down payment but the lender will give you cash back which basically covers the 5% down payment. And voila! You now have a 0% mortgage down payment.

Our Ottawa Mortgage Brokers Work for You!

Believe it or not we understand that mortgage arrears can happen to anyone. They happen for a lot of different reasons. Certain causes like job loss, unexpected illness, and others can take a huge financial toll on anyone. And this is where a Mortgage Broker in Ottawa can be of service.
We listen to what you have to say and we understand your needs. We have seen good paying clients who undergo stressful situations and still get back up on their feet eventually. And that is why we are willing to assist you in paying off your mortgage. We can do that via different ways from getting a second mortgage to increasing your loan amount.

Debt Consolidation

The major strategy that we offer when it comes to debt consolidation is by getting some money off your home equity. Home equities in Canada have really low interest rates, which you can use to pay off loans that have higher interest. We can help you set things up to help you reduce the amount of interest you are already paying.

Property Mortgage Investment

Are you ready to invest in Ottawa? It is actually one of the popular investment options today in Canada. However, property investment rules in the country can be quite stringent, which is why new investors need proper guidance. In fact, even seasoned investors will need some inside info and outside advice. Give us a call today and we can furnish you with a primer on property investment in Ottawa.

To receive a consultation or an answer to your question do not hesitate to call us at +1-613-706-4656. We are here to assist you!

Getting a Mortgage Even If You Have Bad Credit

Some people might think that it is outright impossible for anyone with bad credit history to get a loan let alone a mortgage. Most folks would think that poor credit will shoot down any plans to get any kind of property in Canada. Remember that we can help you even if you have bad credit.
Here in Certified Mortgage Broker Ottawa we find ways. We have unique packages to help people with poor credit and we provide you with suitable options.

Brokers Find the Best Mortgage Rates Ottawa

Ottawa’s Certified Mortgage Brokers (CMB) Negotiate the Best Interest Rates!

There is a significant difference in the mortgage rates Ottawa borrowers pay. The differences don’t necessarily reflect the risk inherent in the loan but the willingness of the borrower to aggressively negotiate the rates. A 2011 Bank of Canada report found that people who use mortgage brokers paid lower interest rates for their mortgages. According to the report shopping around and negotiating rates are an essential part of securing lower rates.
For the best mortgage rates, Ottawa Certified Mortgage Brokers have the answer. We use multiple lenders to find you the product that suits your budget and your loan requirements. There is a wide range of mortgage options from which you can choose. Our trained and experienced brokers will ensure that you get the best combination of rates, fees and terms.

Your Property Your Biggest Investment

Buying a home is the biggest investment that most people will ever make. It is therefore essential that you make the right choices when closing your mortgage deal. Interest rates can change rapidly and if you are thinking of buying a home you should do your research.
When you compare rates, make sure to do so on the same day, as they may change from day to day. A small difference in the rates can cost you thousands over the term of the loan.
Let us find you the best mortgage rates. Ottawa lenders are keen to negotiate. Do your homework before you speak to us. You can find the current mortgage rates on the Internet. There are several websites that carry information about mortgage rates offered by the big five banks and other lenders. The websites allow you to compare terms and rates. So, you can find the best mortgage rates Ottawa and in the rest of the country. You can also search by type or amortization period.
You must also decide whether you will opt for a fixed or variable interest rates. 56% of Canadians prefer the certainty of fixed rates, but research has proven that over time variable rates are lower than fixed rates.

Understand the Terms and Conditions

Once you’ve done your homework discuss your needs with us. Trained and experienced brokers can help you to navigate through the terms and conditions of the various mortgages. It is our job to find you the best rate available for your loan profile. Remember that costs include more than just mortgage rates. Ottawa lenders can include conditions in the mortgage that could cost thousands unless you understand them.
We’ll discuss your financial goals with you so that we can include your plans in our mortgage strategy. When we have finished our discussions, you’ll understand the ins and outs of prepayment conditions, early payment penalties and portability. Our brokers will combine their knowledge and contacts to match you with the lender and the mortgage option that best suits your needs.
Before you make your final choice, you’ll know the size of the mortgage for which you qualify, the amortization period and the monthly repayments. We can even arrange for pre-approval if you would prefer.
A broker only receives payment after the deal is closed so seeking our assistance will cost you nothing.

Call Us Today +1 (613) 706-4656

Questions? We’re here to help!

Understanding Mortgage Basics

Having a roof over one’s head is a basic necessity. You can choose to live in someone else’s home, rent one, or own one of your very own. The decision is yours and it is based on how much you can afford.
It is no secret that there are relative costs when it comes to buying and renting your home. On top of that there are emotional and other factors that come along whether you buy or even rent your home. In this section we’ll answer some of the most basic question about mortgages and how a Mortgage Broker Ottawa can help you.

What is a Mortgage?

A mortgage is a loan that you can use to buy a home or some other kind of real estate property. This loan also allows your lender to seize the property you bought with your mortgage in case you fail to pay the loan on time. Simply put, the piece of real estate you purchased serves as the collateral on your loan.

Types of Mortgages

There are two types of mortgages in Canada. The first one is called an open mortgage and the second one is called a closed mortgage.

Open Mortgage

Open mortgages allow you to make prepayments (i.e. extra payments) any time. You are also allowed to pay the entire amount even before the end of your term. Unfortunately, the interest rate for an open mortgage is higher than for a closed mortgage. Mortgages of this type are available for shorter terms such as six month to 12 month mortgage terms.

Closed Mortgage

You will have to pay a prepayment charge if you want to make any changes to the mortgage agreement in a closed mortgage. You can also make prepayments during the term of your mortgage but these are only limited, which lets you take advantage of certain low interest rates. Even with similar terms, a closed mortgage will always have a lower interest rate compared to an open mortgage.


Always used to do my mortgage through my bank but got sick of the mediocre rates and the process taking forever. Decided to go and find a broker, read some reviews and made some phone calls and ended up working with Leon and the guys at Certified Mortgage Broker. Not only do they find better rates but they are always easy to reach and take you through the process step by step and answer any questions you have.
Frederick Nelson
Frederick Nelson
02:15 15 Feb 18
Best mortgage brokers I’ve ever worked with, getting a second place soon and will definitely use leon and his team again.
Johnny Winters
Johnny Winters
04:57 16 Feb 18
Excellent customer service, no hidden or unexpected fees, very transparent, they keep you updated along every step of the way and always pick up the phone or call back within minutes. VERY professional and honestly exceeded all of my expectations. Not to mention they have the lowest rates I’ve seen.
Lucy Franklin
Lucy Franklin
04:35 21 Feb 18
Leon and his team have been nothing but amazing since we started working with them. They took the time to explain the whole process and how it works. He then sat down and we figured out what mortgage would work best for us. Extremely patient and understanding, honestly can’t recommend these guys enough.
Emil Chase
Emil Chase
01:33 21 Sep 17
The guys at certified mortgage broker were amazing to work with, from the first phone call to signing the closing they were nothing but kind, helpful and professional. Planning on getting another mortgage this year, definitely gonna go with these guys again.
Tomol Donaldson
Tomol Donaldson
04:52 24 Feb 18

Mortgage Services and Solutions

First Time Home Buyer Mortgage from Certified Mortgage Brokers Ottawa

If you’re looking for your first-time home buyer mortgage, you’re about to take one of the biggest steps in your life. This is an exciting time. It is also a little nerve wracking. There are so many decisions to make, and you’re almost certainly about to take on the biggest financial commitment of your life so far.

Getting advice and assistance from a licenced mortgage broker will help you to understand the various terms and conditions related to your mortgage. This could give you the confidence to enjoy the house hunting process without the fear of the unknown. At Certified Mortgage Brokers Ottawa, we’ve helped hundreds of young people to purchase their first home.

Many people make the mistake of looking for their dream home before they have visited their mortgage broker. We can save you a lot of time by calculating the mortgage and the repayments for which you’ll qualify. Armed with this knowledge you can find a house that you can afford. We can even arrange pre-approval which could give you the edge if you’re bidding on a house that someone else wants.

Before you sign on the bottom line and commit to a mortgage, it is essential that you understand what you are getting yourself into.  This could save you loads of money in the future.

Finally, there are plenty of incentives on offer for the first-time home buyer mortgage. We can help you with information on what they are, how to qualify and how to access the funds.

Second Mortgages

A second mortgage is a loan secured by a property that already has a mortgage. The second mortgage is a subordinate mortgage meaning that in the event of default the first mortgage will take precedence over the second. This means that, for the lender, the second mortgage is riskier than the first. This is reflected in the higher rate of interest that the second mortgage will attract.

Despite the higher interest, a second mortgage is an excellent way to acquire a large sum loan. It allows you to tap into the equity in your home. You can borrow up to 90% of your home equity.

Your home equity is the difference between the market value of your home, and what you owe on it. Equity is built up as the market value of property rises and as you repay your mortgage. A portion of your monthly repayments goes to repaying the principal.

Secured loans are less expensive than unsecured loans. They are useful in

  • consolidating more expensive personal loans or credit card debt
  • Paying renovation costs
  • Covering your child’s education
  • Making investments.

If you are thinking of applying for a second mortgage get an estate agent to give you an estimate of the value of your property. Then use this to calculate the loan to value ratio. The LTV is calculated by dividing the outstanding mortgage by the value of the property. The lower that value the better your chances of getting a second mortgage. Second mortgages are usually private mortgages so you’ll benefit from contacting your mortgage broker.

Mortgage Refinancing

Mortgage refinancing is the act of closing a current mortgage during its term and concluding a new mortgage with a new set of terms and conditions. When you refinance you can access up to 80% of the equity in your home. Equity is the property value less the outstanding mortgage secured by your property.

Secured loans are by far the cheapest way to access funds. If you have unsecured debt with high interest rates, it makes perfect sense to refinance your mortgage, consolidate your debt and save on the interest. Tapping into the equity in your home could also allow you to renovate your property or finance an investment or your child’s education.

Additional finance is not the only reason that people refinance their mortgages. Sometimes it makes financial sense to take advantage of lower interest rates available through market improvements or progress in their credit ratings. The savings are often of a magnitude to make financial sense to pay the penalties. Then pay off the old mortgage and enter into a new mortgage with its improved terms and conditions.

There are three different options when refinancing

  • Breaking the current mortgage and paying the penalties
  • HELOC – accessing home equity and paying back the interest on the principal used
  • Blend and extend – combining your old mortgage with the new at a combined interest rate.

Your mortgage broker can help you to understand the advantages and disadvantages of each, so that you can compare the costs and benefits.

Mortgages for self employed

Despite a recent announcement by the CMCH that it is loosening restrictions on granting mortgages for self- employed people, many may still find it difficult to obtain a mortgage.

Lenders typically use debt to income ratios to calculate how much you can afford to borrow. Any rational self-employed person deducts as many of the allowable expenses from their income before submitting tax returns. This results in a lower net income. The outcome is that you qualify for a lower mortgage than an employed person earning the same income.

Because your income is lower, and also not consistent, lenders consider you a higher risk. Higher risk equals higher interest in the world of finance. So, you have one of two choices – accept the higher interest or forgo some of the allowable expenses for two years prior to making application for a mortgage.

If you’re self employed and planning to buy a property, you could save yourself some money by planning ahead. Make sure that you have a good credit score. Pay off loans and credit cards ahead of time. Save up for a higher down payment. The higher your down payment the lower the risk to the lender.

Don’t make any large unnecessary purchases as tax write-offs in the two years prior to applying for the mortgage. Likewise, don’t take a long holiday. You need to maximise your income. Decide on whether you will forgo some of the expense write-offs. Ask your broker about the possibility of using stated income on the mortgage application.

Mortgage Renewals

If you have a mortgage at some stage, you’ll have to renew it, unless you are fortunate enough to have paid it up. Renewal time should be a time of deliberation. Mortgage renewals offer homeowners an opportunity to negotiate better interest rates. It is a time when you should consider the suitability of the terms and conditions of the mortgage to your current lifestyle and future plans.

This is the perfect time to change loan providers if you are dissatisfied with your current one. More than 50% of Canadian lenders sign the renewal and return it without negotiating any changes. These are lost opportunities. A small reduction in rates over the term of the mortgage can translate into thousands of dollars.

By law the banks must post you a renewal notice at least 21 days prior to your mortgage renewal date. When the term comes to an end you pay off your mortgage and then renew for another term. Alternatively, you can shop around and negotiate more favourable terms and conditions with another lender or your current mortgage provider. You should start to consider your options four months before the term of your mortgage comes to an end.

Before you decide to switch you should identify all the costs involved in the switch. Research has shown that mortgage brokers get better rates. This is because they have many lenders on their books and the power to negotiate. The lowest rate may not always be the best. The rates must be weighted up against the terms and conditions. Get advice and make the best of the opportunity.

Construction financing

Whether you are building your own home from scratch or buying a new home from a construction company, construction financing in the form of a construction mortgage is what you’ll need to finance it.

There are two types of construction mortgage, a completion mortgage and a progress draw mortgage. A completion mortgage is very similar to a normal mortgage. This is the type of mortgage that you will require if you are buying a new house through a construction company. The money for the home is only paid to the construction company when the structure is complete and you take ownership.

A progress draw mortgage money is paid increments to the builders when they reach certain agreed milestones in the construction.

Arranging construction finance is not as simple as applying for a residential mortgage. The lender will want to limit the risk so he or she will want to see some of the documents pertaining to the building arrangements. These will include plans and blueprints, a copy of the construction contract, building permits and if you are buying an erf, proof of ownership. The lender will also want timescales and an estimate of cost.

In addition, you will be expected to pay a bigger down payment. This is because a construction mortgage carries more risk for the lender. You should also ensure that you have contingency funding of about 15% of the estimated cost of the construction. This is to cover overruns and delays.

All in all, construction financing is a lot more complicated than a residential application so it is best to get the assistance of a mortgage broker that specialises in construction mortgages.

Private mortgage

If you’ve been turned down by one of the big six, you’re not alone. It’s become more common as the federal government tightens legislation in the mortgage industry. Don’t give up. You could still qualify for a mortgage. Private lenders are a lot more flexible than the banks. They will lend money to people who do not qualify for a traditional loan, and they will tailor a mortgage to suit your financial and lifestyle requirements.

Private lenders are more interested in the value of the property that will secure the loan than they are in your credit history.

Private mortgages are short term, normally one to three years. They should be regarded as bridging finance, giving you time to get approval from a traditional bank. The interest rates are higher than those offered by traditional banks, so you should enter the arrangement with an exit strategy in mind.

Private mortgages are interest only mortgages. You’ll pay off the capital when you exit the agreement.

They are ideal for

  • Those who have a low credit score
  • People with a high debt to income ratio
  • The self employed
  • Unconventional properties that the traditional banks won’t fund
  • Funds that are required quickly to take advantage of an opportunity
  • Second mortgages required to consolidate debt or as emergency funding.

If you’re looking for private funding, it is best to contact a mortgage broker, who can put you in touch with the private lender that matches your requirements.

Home Equity Line of Credit HELOC

If you have equity in your home a Home Equity Line of Credit could offer you the best in flexible credit at a reasonable interest rate. Your home equity can secure you a loan that you can use any time in any amount up to the agreed limit.

You only pay interest on the amount that you have borrowed. In addition, because it is a secured loan the interest is a lot lower than you could get on a credit card or personal loan. Yet it is as easy to use as a credit card. Interest on HELOCs are calculated on a daily basis

You don’t have to pay back the principal, and anything you do pay back is immediately available for you to borrow again. HELOC loans can cover up to 65% of your home equity. If it is combined with a mortgage it can go up to 80%. Many banks will offer you what is known as a re-advanceable mortgage when you make a down payment of 20%. This is a mortgage combined with a HELOC that allows you to re-use the principal as you pay back the principal.

HELOCs are sometimes used in place of a traditional mortgage. People choose to do this because a HELOC has no limitations on payment unlike a traditional mortgage where you’ll pay penalties for early payment.

HELOCs are available as first and second mortgages. Contact your mortgage broker for advice on the best options for you. You’ll also get the best terms and conditions.

Ottawa Mortgage Frequently Asked Questions

mortgage questions What is a Mortgage Term?

The loan that you make to buy a house or some other property is called a mortgage. The principal refers to the amount borrowed. Each mortgage payment pays off part of the principal plus the interest.


You have custody over the property. However, if you fail to pay the loan and interest according to the terms of the contract, the lender may repossess the property.

mortgage questions What is a Down Payment?

A down payment refers to the money you pay for real estate property. This money is paid upfront and the rest of the cost of your new home is covered by your mortgage. For properties that cost up to $500,000, the minimum down payment in Canada is 5% – however, do take note that your lender may sometimes require a higher down payment.

But what if the cost of the property is more than $500,000? If that is the case then the interest is 5% for the first $500,000 and then 10% for the remainder of the cost.


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