all your mortgage needs in one place
Getting you the Right Mortgage means we take the time to understand your situation and your needs, and use our expertise and knowledge to help you make the Right Mortgage decision
As Mortgage Alliance professionals, we can provide you the options and expertise to get the Right Mortgage for your immediate and future needs. We work for you to provide unbiased guidance in your mortgage decision, and with access to over 40 lenders (some offered exclusively through brokers) you have unmatched choice and convenience!
about us
We are first and foremost a team of dedicated mortgage professionals committed to helping you get your best mortgage financing. We draw from one another's strengths to achieve this result all the while keeping our focus on providing you the best quality service available.
first time buyer
Buying your first home can be a rewarding life style change. You will move from paying someone else's mortgage, to investing in your future. This is a very emotional time and you need a team of professionals that understand your needs and desires. You will have questions everyday about what you can and can not do and for that we are here to help.
how much can I borrow?
Quite often the first thing a new first time buyer asks is this simple question. There is no one right answer to this question. The banks have rules and guidelines they must follow but in many cases they are not that restrictive.
The best rule of thumb is to consider how much you are paying in rent today and how much of your monthly savings could you put towards paying a mortgage and property taxes.
what is the best loan for me?
Everyone's situation is different. The best loan is one you can afford for as long as you plan to remain in the home. Affordability varies with the types of mortgage loans. The two most common types of mortgage loans are fixed and adjustable/variable mortgages.
Fixed rate mortgages are constant for the term of the mortgage. The security of knowing your payment will not change for a period of time may fit well with your income and lifestyle.
Adjustable mortgages initially come with rates lower than a fixed rate mortgage but periodically rise or fall, depending on economic factors. Its lower initial rate can help you qualify for a larger mortgage loan. If you know your income will rise to keep pace with an adjustable mortgage periodic adjustment and you plan to move in a few years, an adjustable mortgage could be a good choice.
what costs will I have?
The regular costs related to the purchasing process are:
- Legal Fees & Disbursements ($1000-$1700)
- Land Transfer Tax
- Title Insurance if survey not available ($225)
- CMHC/Genworth Premium if mortgage is high-ratio (this cost can be added to mortgage)
- Provincial Sales Tax where applicable when CMHC/Genworth premium is required
- Appraisal Fee ($275) if required - sometimes paid by the lender