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A mortgage broker acts as your representative in the mortgage market. We gather your financial information, assess your needs, then approach multiple lenders to find the best rate and terms for your situation. We handle the application, lender negotiations, and paperwork — and we're paid by the lender when your mortgage closes, not by you.

In the vast majority of cases, yes. Lenders pay brokers a finder's fee when a mortgage funds. You receive expert advice, rate shopping across 50+ lenders, and full application support at no direct cost to you. We always disclose any fees upfront — before you commit to anything.

Often, yes. Because brokers send a high volume of mortgages to lenders, we can access preferred rates not available to the public. We can also compare your bank's rate against the full market, which gives you real negotiating power. Even a small rate difference (for example, on the order of 0.10–0.25%) can translate into meaningful interest savings over a typical 5-year term — an illustration only; your savings depend on loan amount, term, payment frequency, and lender.

A fixed rate stays the same for your entire term (e.g., 5 years), giving you predictable payments. A variable rate fluctuates with your lender's prime rate — it can be lower over time, but involves more risk. The right choice depends on your risk tolerance, how long you plan to stay in the home, and where you think rates are headed. Your broker will walk you through the trade-offs.

The minimum is 5% for homes under $500,000. For homes between $500,000 and $999,999, it's 5% on the first $500K and 10% on the remainder. Homes $1 million and above require at least 20%. Putting down less than 20% requires mortgage default insurance (CMHC, Sagen, or Canada Guaranty), which is added to your mortgage balance.

A pre-approval can often be issued within 24–48 hours. Full approval and commitment typically take 3–7 business days, depending on the lender and how quickly we receive supporting documents. Most clients are fully approved within 1–2 weeks. We recommend starting the process 3–4 months before your target closing date.

Absolutely. Self-employed borrowers are a specialty for many of the lenders we work with. You'll typically need 2 years of T1 generals (tax returns) and Notices of Assessment. Some lenders also offer stated-income programs for well-established business owners. Your broker will match you with the right lender for your income documentation.

You can typically start negotiating your renewal 120 days (4 months) before your maturity date without triggering a prepayment penalty. Many homeowners simply accept the bank's renewal offer — but shopping the market before you sign can save thousands. We offer a free renewal review to compare your offer against current market rates.