We offer various solutions to our clients, including:

• Home Equity Loans
• 2nd Mortgages
• Private Mortgage
• Debt Consolidation
• Mortgage Refinancing
• Stop Power of Sale
• Bridge Financing
• Credit Repair
• Commercial
• Purchase a New Property
• Renewing your Mortgage
• Reverse Mortgage

You'll be able to learn more about our solutions here.

Hiring a mortgage broker is a solid idea if you're new to the mortgage process. We have years of experience in this industry and the best up-to-date knowledge about how to get a loan.  

In addition, an experienced mortgage broker has access to the top lenders for your needs quickly. The mortgage process has never been more straightforward with a mortgage broker and will require minimal effort on your part. Plus, many mortgage brokers already know many of the lenders. As a result, they can negotiate a lower mortgage rate and more straightforward terms.

Here is a list of costs associated with buying a home:

• Down payment: This payment is an initial up-front partial payment. Depending on your situation, you'll need to have at least 5% down, likely more. You will require a down payment of at least 20% for a conventional mortgage. 
• Deposit: This payment counts towards your down payment and is required by the seller to prove your commitment to buying the property.
• Home inspection fee: A home inspection fee will ensure the house is structurally sound.
• Mortgage default insurance: This insurance will be required if you put less than 20% down.
• Land Transfer Tax (LTT): This tax is calculated as a percentage of the purchase price, with the amount varying (depending on the province).
• Legal fees, disbursements, and title insurance: These costs are associated with your solicitor.
• Other costs may include property insurance, tax, or utility adjustments.
• Moving costs: The cost of moving your belongings and move-in/out cleanings. 

Here's the rundown of the monthly costs of owning a home:

Mortgage Payment

This monthly payment is the most significant monthly expense for many homeowners. The amount varies based on your payment schedule, mortgage term, and amortization.

Property Taxes

Property taxes are based on the municipality you live in and are collected to pay for civic services. These include garbage and recycling collection, snow removal and road maintenance, and fire protection.

School Taxes

Depending on certain municipalities, there can be school taxes integrated into property taxes. For others, they are collected separately and can be paid in a one-time lump sum, generally around the end of the current school year.

Utilities

Homeowners are responsible for all utility bills, like heating, gas, electricity, water, telephone, and cable.

Maintenance and Upkeep

Owning a home comes with extra costs for maintenance and upkeep. For example, painting, roof repairs, electrical and plumbing, walks and driveway, lawn and tree care, and snow removal.

First, you'll need to know your taxable income. In addition, you'll need to include any outstanding debts and monthly payments.

Here are other things to consider:

1. Calculate 39% of your income for a mortgage payments, property taxes, and heating. You can also include half the amount of the estimated monthly maintenance fees.
2. Then, calculate 44% of your taxable income and deduct your monthly debt payments. These payments include car loans, credit cards, and lines of credit.
3. The lesser of the first or second amount will help you figure out how much of your income can be used towards housing-related payments, like your mortgage payment. 

Essentially, yes. A home inspection is a visual investigation of a property to determine the home's condition. In addition, it should only be done by a professional home inspector.

During this process, the inspector will check all significant parts of the home, like the ceilings, roof walls, flooring, foundations, crawl spaces, attics, and the electrical, heating, plumbing, drainage, and exterior weatherproofing systems. The home inspection will be provided to the purchaser in written form, ideally within 24 hours of the examination.

All in all, a home inspection can provide you with relief in your choice. It can also inform you of any maintenance or repairs that could benefit your home.

A minimum down payment of 5% is necessary when buying a home; however, it can be subject to certain maximum price restrictions. In addition, other situations, like being self-employed or having poor credit, can impact the necessary down payment amount.

Along with the down payment, you must be able to prove that you can cover any applicable closing costs. For example, legal fees, disbursements, appraisal fees, and a survey certificate, if applicable.

In addition, at least 5% of the down payment must come from your cash resources or a gift from a family member. For non-residents and anyone new to Canada, that amount usually rises to 10% and does not have the option to be borrowed.

Finally, mortgages with less than 20% down must have mortgage loan insurance. CMHC, Sagen, or Canada Guaranty can provide it.

After you declare bankruptcy, re-establishing your credit to secure a mortgage can be challenging. However, not all hope is lost - it can depend on the circumstances regarding your bankruptcy. For example, some lenders may offer mortgage financing.

A pre-approved mortgage is an idea of the maximum amount of mortgage you will qualify for, with an interest rate guarantee for a specific time (generally 60 to 120 days) that the lender provides. It's one of the first steps a home buyer should pursue. 

However, a pre-approval does not guarantee that you'll receive the funds, but it can give you an accurate picture of the maximum amount you should consider when purchasing a home. 

The pre-approval process requires financial and credit score information to determine the loan size you are eligible for, according to lender and government regulations. In addition, your down payment will be considered in the amount.

Also, many realtors prefer that you have a pre-approved mortgage before they show you any homes. Then they'll have a better idea of what you can afford. 

Dream Big Mortgages puts our customers first and supports your interests. We want you to have the best mortgage experience possible, so we take the complications out of the application process and make things simple. 

Our team of tech-savvy mortgage experts will handle every aspect for you and find you the best rate. All in all, we take the hassle out of the mortgage application process.