Most Buyers need financing, even my investors!
I always recommend my clients visit with their mortgage broker to talk about rates, and what they need to do prior to going shopping for a home.
Some banks offer great rates but don't actually give you the best rate until they learn you are using a mortgage broker. Mortgage brokers work for you the client and only get paid one you have a mortgage with them. Because of this they shop for the best rate and have no loyalty to any given bank. This is the best way to secure a mortgage.
Brokers also tell you things like; pay off your car or empty off a credit card prior to applying so that you get the best possible rate.
It is a job to apply for a mortgage, you will need 3 years of T4's , letters of employment and so forth. The good thing is once you are done your ready to go and they can often hold rates for 90-120 days.
I believe in "shopping local" so that means using local brokers in the community you will live in. These people live and shop in our stores and their children will go to the same schools. Invest in your community from the start.
Here are 3 local mortgage brokers used by my clients that have proven to be great!
Paul Hudson https://paulhudsonmortgages.ca/
Michelle Kelly https://teamkelly.ca/
Annie De La Chevrotiere https://peaktopeakmortgage.com/
Mortgage Payment Calculator & Amortization Table
This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.