Residential Services

Looking for your first home?

At Lenders’ Choice Mortgages, we specialize in providing a seamless and stress-free experience for all your residential mortgage needs. With a steadfast commitment to building trust and reliability, we understand the complexities of obtaining a mortgage. Our dedicated team is here to guide you through every step of the process, ensuring that you find the perfect financing solution for your dream home. 

Explore our comprehensive range of mortgage services designed to meet your unique needs. Whether you're a first-time homebuyer, looking to refinance, or interested in a vacation home, Lenders' Choice Mortgages has the expertise and resources to help you achieve your homeownership goals!

PRE-APPROVALS

Need a Pre-approval Before You Go House Hunting?

Find out how much you can afford before you go house hunting with our home loan pre-approvals! This will keep you focused on shopping for homes within your price range and make more informed decisions on what will work best for you. We fully underwrite your file upfront to determine the maximum mortgage you will qualify for, giving you the confidence to make an offer with no surprises. We don’t cut any corners and would not put our clients at risk of making an offer on a property they won’t qualify for, subject to the lender’s property valuation. Contact us to have us walk you through the mortgage pre-approval steps today.

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FIRST-TIME HOME BUYERS

Looking for Your First Home?

Buying a home is an exciting time! You're about to take a big step, so you'll need some advice from a mortgage professional about a first-time home buyer mortgage.

At Lenders' Choice Mortgages, we're here to guide you through the entire process, from mortgage pre-approval to closing day and beyond. Our 10-step approach ensures you know what to expect at every stage, leading up to the day you can burn your mortgage. Consider us your partners in helping you buy your first home in Toronto.

With access to multiple mortgage lenders, we'll work tirelessly to find the best mortgage options that align with your dream of homeownership. Let's make your first home-buying experience a seamless and memorable one!

VACATION HOMES

Who Doesn't Want a Vacation Property?

Whether you use it as a family retreat for part of the year or rent it out to help manage the debt, we can help you find a vacation home that fits your needs! Many Canadians are jumping at the chance to own a recreational property. No longer just perceived as a welcome retreat from the city, a second home is now viewed as a solid financial investment with the added value of a potential retirement property. Trust Lenders' Choice Mortgages to assist you in securing the perfect financing for your vacation home.

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PURCHASE PLUS IMPROVEMENT

Unlock Your Home's Potential with Purchase Plus Improvement (PPI)

If you're buying a home that needs immediate upgrades, the Purchase Plus Improvements (PPI) program lets you include the improvement costs in your mortgage. It's an excellent choice for primary residences or if you're looking to convert a single-family home into a legal duplex. This program is widely offered by most mortgage brokers. Here are the key details:

  • A contractor quote will be required at the time the application is submitted to the mortgage lender.
  • Maximum of $60,000 in upgrades (amount may be higher upon exception).
  • Upgrades cannot include appliances.
  • You must fund the upgrades yourself; however, you will be refunded after completion, usually within 120 days of your closing date. An appraiser will confirm that the work has been completed as indicated in the contractor's quote.
  • If you put down 10%, you would receive back 90% of the upgrade cost, up to $60,000.

*Some conditions may apply

REVERSE MORTGAGE

Take Advantage of Home Equity for Financial Freedom!

If you're 55 or older, own a property with equity, but your income isn't meeting your needs, a reverse mortgage could be the solution. This option allows you to stay in your home while accessing tax-free equity in monthly or quarterly installments, or as a lump sum withdrawal, without making any payments until you sell your home. Lenders' Choice Mortgages is here to assist you through the process and determine if a reverse mortgage aligns with your financial goals.

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CONSOLIDATE DEBT

Use Your Home Equity to Reduce High-Interest Debt

Many Canadians are taking advantage of refinancing some of the equity in their mortgage to reduce higher interest-rate mortgage debt. One important part of a financing strategy is knowing "good debt" from "bad debt." A well-planned mortgage can help you turn those bad mortgage debts into good debts and get them out of the way. Benefits include:

  1. Consolidating high-interest rate credit cards into a single, lower-rate
  2. Saving money and improving cash flow
  3. Reducing stress by gaining control over your financial situation

If you'd like to have a conversation about refinancing your debt, give us a call today to review your options. It's time to beat the banks and secure your financial stability!

MORTGAGE PORTABILITY

Benefits of Mortgage Portability

If you're considering a move, understanding the advantages of mortgage portability is essential. Starting with a conversation with a mortgage broker can provide valuable insights. As you prepare to take this significant step, expert advice can set you on the right path. By working with a mortgage advisor who has access to multiple lenders, you can secure the best rates and mortgage options to make your dream home a reality.

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RENEWING YOUR MORTGAGE

Let Us Help You Renew Your Mortgage Into a Better-fit

If your mortgage renewal is fast approaching, then you’ll soon be at an important financial milestone. Now's a great time to look at the many innovative options and competitive rates available. Lenders send out renewal forms just before renewal dates to those with good payment histories, with about 70% of homeowners sending them back without asking any questions. In today’s hectic world, that can be the easiest and best route, but you should ask yourself some questions before you sign on the dotted line. This could be an important moment of opportunity.

This is the time to evaluate and decide. For instance, you might consider consolidating high-interest debt with your mortgage or leveraging some of your home equity for a renovation project. Maybe you're contemplating a cottage or vacation property. Are you confident you're getting the best rate at mortgage renewal?

BRUISED CREDIT

Bad Credit Rating Making You Feel Humiliated? We Have Options!

Sometimes, things get out of control, and life happens. We see all kinds of credit ratings every day, and we have the strategies to help improve and even heal damaged credit. You may be surprised to know that you can still obtain a mortgage. Whether you've had a bankruptcy or your credit is only slightly bruised, you can obtain financing.

As mortgage professionals, we have access to non-traditional mortgage lenders who offer financing solutions to individuals who have some credit challenges that cannot be addressed by the major financial institutions. Together we can quickly assess your situation and decide on the best way to move forward. The worst you can do is nothing.

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RENOVATION FINANCING

Sometimes, the House of Your Dreams Is the One You're Already Living In

Maybe your home just needs some new landscaping, an extra wing for your growing family, an expanded kitchen, or a swimming pool in the backyard! A record number of Canadians have taken advantage of the historic low mortgage rates and rising real estate values and have tapped into their home equity through equity take-outs. There's never been a better time to access the extra funds that can help bring your home to that next level of comfort. Consider accessing the cash you need for the renovations and improvements you've been dreaming about!

Your Path to Homeownership Starts Here!

At Lenders' Choice Mortgages, we understand that buying a home is one of the most significant decisions you'll ever make. That's why we're dedicated to providing you with expert guidance and personalized service every step of the way. Whether you're a first-time homebuyer, looking to upgrade, or interested in refinancing, we have the knowledge and resources to help you achieve your homeownership goals.

Our team of experienced mortgage professionals is committed to finding the best mortgage solutions for your unique needs. With access to multiple lenders and a deep understanding of the market, we'll work tirelessly to secure the right mortgage for you.

Let us be your partner in the journey to homeownership. Contact us today to learn more about our residential services and how we can help you buy your dream home.