Frequently Asked Questions
Why use a mortgage broker instead of a bank?
As a mortgage broker, I have access to more than 65 lenders and can get you the best rate and advise.
I work for you, not the bank.
To find out more, click here
Do I qualify for 5% down payment?
With certain conditions such as:
- be your principal residence
- your GDS (gross debt service ratio) is below 32% of your gross family income
- have the average 1.5% closing costs
- meet the lender’s eligibility requirements (income, employment, credit worthiness)
To find out more, click here
What are closing costs?
Approximately 1.5% of the purchase price is the closing cost such as:
- Appraisal
- Mortgage insurance (if applicable)
- Legal fee
- Tax adjustment (if applicable)
- Property transfer tax (if applicable)
- Survey (if applicable)
To find out more, click here.
How much do I qualify for?
It depends on your income, down payment, credit score, other debt, and even the property.
To find out more, click here.