Mortgage options
Mastering your mortgage purchase: tailored to fit you.
Whether you are stepping into the market for the first time, moving up, investing, or new to Canada, there are products and rates for every level of income and credit history. Tisha's job is to find yours, and to get it approved without drama.
The power of purchase: seizing the opportunity in your mortgage journey
Today's market is flooded with mortgage options, which can be overwhelming. Consulting a mortgage expert will prove immensely valuable. As a first-time home buyer, most people are unaware of the financing plans that are available. It is important to pick the right plan for your specific needs and to understand all of the legalities involved.
Even if you have done this before, you may not be well informed of the latest rates and packages. Financial institutions are regularly launching innovative products, making it easier to turn your plans into reality. Tisha tracks them so you do not have to.
Because she spent years as an underwriter, Tisha prepares your purchase file the way a lender wants to receive it: income verified, down payment sourced, property details clean. That is why her approvals tend to move quickly, and why realtors keep referring their clients to her.
"I spent years deciding which purchase files got approved. Yours will be built to be one of them."
Who this is for
Buyers Tisha helps every week
First-time buyers
A clear budget, the programs you qualify for, and a pre-approval you can shop with. See the dedicated first-time buyer page.
Move-up and downsizing buyers
Timing a sale and a purchase, bridge financing when the dates do not line up, and porting an existing mortgage when it makes sense.
Investors
Rentals, duplexes and student properties, with lenders who treat rental income sensibly. See investment property mortgages.
Newcomers to Canada
Programs for permanent residents and work permit holders with limited Canadian credit history.
Self-employed buyers
Lenders that look at what your business really earns, not just the net income on your tax return.
Buyers with bruised credit
Alternative lenders and a plan to move back to a prime lender at renewal.
How it works
From first call to keys in hand
- 01
Pre-approval
Know your number before you shop. Tisha reviews income, down payment and credit, and locks a rate hold while you look.
- 02
Shop with confidence
Your realtor knows you are real. Make offers with a financing condition that is realistic, and lean on Tisha when a bidding war tempts you to drop it.
- 03
Firm approval
Purchase agreement, appraisal if needed, final documents. Tisha chases conditions so you are not refreshing your inbox.
- 04
Closing
Lender instructions go to your lawyer, funds are advanced, and you get the keys. Then she sets a reminder for your renewal.
How much do I need for a down payment?
For an owner-occupied home, the minimum is 5% of the first $500,000 of the purchase price and 10% of the portion above $500,000, up to the insured price cap. Purchases at or above the cap, and most rental properties, require at least 20% down. With less than 20% down, the mortgage must be insured and the premium is usually added to the mortgage.
How long does a pre-approval take, and how long does it last?
With your documents in hand, Tisha can usually have a pre-approval back within a couple of business days. Most lenders will hold the rate for 90 to 120 days, and if rates drop in that window you get the lower rate.
Is a pre-approval a guaranteed approval?
No. A pre-approval confirms what you qualify for based on your income, credit and down payment. Final approval also depends on the property itself, the purchase agreement and up-to-date documents. That is exactly why Tisha recommends keeping a financing condition in your offer whenever the market allows it.
What closing costs should I budget for?
Plan for roughly 1.5% to 4% of the purchase price: Ontario land transfer tax (first-time buyers may get a rebate of up to $4,000), legal fees and disbursements, title insurance, a home inspection, and adjustments for prepaid property taxes or utilities. Use the land transfer tax calculator for a quick estimate.
Related mortgage options
Free consultation
Get a pre-approval you can actually shop with.
Tell Tisha what you are trying to do and she will come back with options, not a sales pitch. Free, no obligation, no credit check to start.
- Over 20 years in retail banking
- Former mortgage underwriter: she knows what lenders want
- Banks, credit unions, monoline and alternative lenders
- Lender-paid on most residential mortgages