Mortgages and Renewals in Burlington and Oakville

Yes, and this is an area I am happy to help with. Several lenders in Canada offer newcomer mortgage programs that take into account international credit history and do not require the full two-year employment history typically needed for standard applications. The programs and requirements vary depending on how long you have been in Canada and your residency status. If you are new to Canada and looking to purchase a home in Burlington, Oakville, or the GTA, book a call and we will walk through your specific situation together.

Yes. Self-employed borrowers do qualify for mortgages in Canada, though the process is different from a salaried application. Lenders typically want to see two years of T1 Generals and Notices of Assessment, and they will average your net income over that period. If your declared income is lower after business deductions, there are also alternative and stated-income lender programs that assess your application differently. I work with self-employed borrowers regularly and know which lenders offer the most flexibility for this situation.

A pre-qualification is a general estimate of what you might be able to borrow based on information you provide. It is a useful starting point but carries no weight with sellers or realtors. A pre-approval is a more thorough process where a lender reviews your income, credit, and assets and commits to a rate and amount for a specified period, typically 90 to 120 days. I underwrite my pre-approvals upfront, which means the numbers are reliable and you can shop with genuine confidence.

As early as possible is the honest answer. Many of my clients come to me a year or more before they plan to buy, and that lead time gives us room to improve credit scores, build savings, reduce existing debt, and position them for the best possible approval when they are ready. Even if you are not planning to buy for two or three years, an introductory conversation costs nothing and can shape a plan that makes a real difference at the finish line.

Renewals can be as hard or simple as you make them! While submitting income documents (T4s, NOAs, paystubs, pension statements, CCB statements, letters of employment etc.) may seem daunting, doing so will enable you to secure the best rate. After all, isn’t it worth it to secure the best advice, mortgage, and rate for your most significant expense?

Yes! Depending on your employment type (salary or hourly), you’ll need to provide documents showing year-to-date (YTD) income and annual income:

• Recent pay stubs (within 60 days) showing YTD income
• Letter of employment (dated within 60 days)
• Most recent Notice of Assessment (NOA)
• Previous year-end pay stubs
• Most recent T4
• T1 Generals from the last 2 years

Every mortgage application is unique, and I’m here to discuss tailored solutions to fit your needs. Let’s explore your mortgage options today!

I’ve said it once and I’ll say it again…the best time to buy a house is when YOU are ready.

“Don’t wait to buy real estate. Buy real estate and wait.”

– Will Rogers, actor and humorist

Waiting for the perfect rate is rarely a sound strategy, since no one can predict where rates will go or when, and the right home at a slightly higher rate often beats the wrong home at a slightly lower one. You can always refinance into a better rate later. What matters more is having a sound mortgage strategy in place from the beginning.

Book a call and we can model different rate scenarios based on your actual numbers.

Yes, with conditions. You can borrow equity from sources such as personal loans, lines of credit, gifts from immediate family members, or government grants, provided the funds come from arm’s length parties where required. Any borrowed down payment repayments must be factored into your debt service calculations and must fall within allowable debt ratios, which are typically capped at 44% of gross income. This is worth discussing early so we can plan your full financing picture before you start making offers.

Yes. Any buyer in Canada can put as little as 5% down on a home purchase up to $500,000, regardless of whether it is their first home. On purchase prices between $500,000 and $999,999, the minimum down payment is 5% on the first $500,000 and 10% on the remainder. For homes over $1,000,000, a minimum of 20% is required. When your down payment is less than 20%, your mortgage must be insured through CMHC, Sagen, or Canada Guaranty. The insurance premium can be paid as a lump sum at closing or added to your mortgage balance.