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Mortgage Broker Serving Vaughan and Thornhill
Vaughan’s Mortgage Broker of Choice — Your Mortgage Lady
Our staff is proud to offer the residents of the area professional help and advice. We have years of experience in the property mortgage market. Our knowledge of the industry has saved our clients thousands of dollars in reduced rates and in avoided costs. Our service is quick but personalized.
WE DO WHAT IT TAKES
Closing your mortgage at best possible rate and hassle free.
TRANSPARENCY
We have your financial interests in mind.
WE ANSWER OUR PHONES
We are a call away every step of the way.
LOWEST RATES
Offer lowest rates or will match existing offer.
Access to Dozens of Lenders
Because we have access to dozens of mortgage providers, we can negotiate that best interest rates for you. We take the time to get to know you. We’ll discuss your lifestyle requirements and your future financial plans.
Once we understand what you want, we can find you a mortgage to suit your needs. We’ll save you time and money. We fill in the paperwork, cover the credit requirements and then find a match.
Featured Rates
| Lender | Rate | Term | |
 |
Lendwise | 3.99% | 5-Year |
 |
First National Financial | 4.19% | 4-Year |
 |
RMG Mortgages | 4.09% | 3-Year |
 |
Meridian Credit Union | 4.99% | 2-Year |
 |
TD Bank | 4.99% | 1-Year |
| Term | Rate |
| 5-Year Variable | 4.95% ( Prime – 1% ) |
| 3-Year Variable | 5.1% ( Prime – 0.85% ) |
| Type | Rate |
| HELOC | 5.95% ( Prime rate ) |
| Type | Rate |
| Line of Credit | Starting at 7.2% |
| Equity Loans | Starting at 6.5% |
| Private Mortgages | Starting at 5.75% |
Client Testimonials
We have the right product for you
Whether you seek a residential or commercial mortgage, or whether you’re a first-time homeowner or refinancing your property we have the right product for you.
Residential Mortgages
Residential Mortgages
Purchasing a new home is a very important time in life. For most people, their home is their biggest asset and more often than not their mortgage their biggest liability. The decisions that you make when negotiating a mortgage, you’ll live with for years to come. This is why it is so important that you get expert advice before you sign up.
Due to recent policy changes it has become more difficult for Canadians to qualify for the mortgage that they want. This is because all borrowers having to pass a stress test to qualify. All federally governed banks now apply this test to all who wish to refinance or borrow for the first time.
To qualify, borrowers must prove that they are able to make repayments at the Bank of Canada five-year benchmark or the contracted rate plus two per cent whichever is the greater. Before you give up on your dreams a home or buy down, visit you mortgage broker for advice. Mortgage brokers are able to find lenders who are not governed by the same constraints as the Big Six.
First Time Homeowners
First Time Homeowners
As a first-time homeowner, many of the terms associated with mortgages may be unfamiliar. We can assist by explaining the terms and conditions to you. We can explain tax rebate options, and offer you advice on the funds that first-time homeowners can access to help with the initial costs and down payment.
We will also help you to calculate what repayments you can afford. Then we tailor your mortgage around your lifestyle requirements. Understanding the various interest rate options and the penalties that you could incur could save you thousands over the term of your loan.
Refinancing
Refinancing
Refinancing is the process of negotiating a new mortgage to replace the current mortgage which you have on your property. Many homeowners refinance their mortgages to get the benefits of improved the terms and conditions.
When you arrange to refinance your mortgage, your new lender of choice will pay off your current lender. Where there is enough equity in the property many people take the opportunity to consolidate debts. The mortgage is then used to pay off the more expensive debts such as credit cards and personal loans that attract high levels of interest.
In deciding whether to refinance your mortgage, the costs and benefits must be weighed up against each other. Your local mortgage broker can calculate the penalties, closing costs and other fees and compare them to the interest savings. Based on this he’ll give you the advice on the best action to take.
The Second Mortgage
The Second Mortgage
A second mortgage is a mortgage which is taken in addition to the first one. As with the first, the equity on your property acts as collateral for the loan. A second mortgage is subordinate to the first. This means that in the event of default the first lender will be paid before the second. This means that the second mortgage carries a higher risk for the lender, which is why the interest rates are typically higher for the second loan.
This being said, for those with sufficient home equity second mortgages are a low cost means to get a high-value loan that you can use to consolidate debt, pay for house renovations or take advantage of an investment opportunity. Up to 90% of the equity in your home can be used for a second mortgage.
Private Mortgages
Private Mortgages
Private mortgages are short-term loans offered for periods of six months to three years. They are interest only loans, with the principal being repaid only at the end of the financing period when an alternative mortgage is negotiated.
Although private mortgages are more expensive than conventional mortgages, they offer some lenders the opportunity to purchase property when the conventional banks will not lend them the funds. Private lenders are more interested in the equity in the property that will secure the mortgage than they are in the credit rating of the lender.
Private lenders often specialise and your mortgage broker will match you with the private lender that best suits your circumstances.
Commercial Mortgages
Commercial Mortgages
Commercial mortgages are a little more complicated than residential mortgages as they frequently involve business entities rather than individuals. This means that the credit checks are more complex. Residential properties purchased as an investment could qualify for a commercial mortgage. These fall into various categories.
Commercial mortgage interest rates are higher and the time to approval is also often substantially longer. It is difficult for borrowers to compare the interest rates offered by the various lenders. Finding a competent mortgage broker that specialises in commercial properties can save you a significant amount of time and money.
Consult your broker
...and yet they cost you NOTHING. The lender pays the broker’s fee.