Does using a mortgage agent cost me anything?
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In the vast majority of cases, absolutely nothing. Lenders pay my fee as a finder's fee when your mortgage closes — there is no markup to your rate. In rare situations (such as some private or alternative mortgages), a small broker fee may apply, and I'll always be upfront about this before you commit to anything.
How much do I need for a down payment in Ontario?
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The minimum down payment depends on the purchase price: 5% for homes under $500,000; 5% on the first $500K + 10% on the remainder for homes between $500K–$999,999; and 20% for homes $1 million and over. Putting down less than 20% requires CMHC mortgage insurance. As a first-time buyer in Ottawa, you may also qualify for the First Home Savings Account (FHSA) and the Home Buyers' Plan to boost your down payment.
Will getting a mortgage pre-approval hurt my credit score?
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A rate check or initial consultation will not impact your credit at all. When we move to a full pre-approval, a single credit inquiry typically has only a minor, temporary effect on your score (usually 5–10 points). Multiple mortgage inquiries within a 14–45 day window are treated as a single inquiry by the credit bureaus, so shopping around is safe. I'll walk you through this entire process before any inquiry is made.
Can I get a mortgage if I'm self-employed in Ottawa?
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Absolutely — and this is one of my specialties. Traditional banks often use only your stated net income after write-offs, which can make approval difficult. I work with lenders who use gross revenue, bank deposits, or stated income programs to qualify self-employed applicants. Whether you've been in business for 2 years or 20, there are programs designed for your situation. I'll match you with the right lender from day one.
How long does the mortgage approval process take?
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A pre-approval typically takes 1–3 business days once I have all your documents. Full mortgage approval after an accepted offer usually takes 3–7 business days. I always recommend getting pre-approved before you start house-hunting — it gives you a firm budget, locks in your rate for 90–120 days, and makes your offer much more competitive in Ottawa's market.
Should I choose a fixed or variable rate mortgage?
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It depends on your financial situation, risk tolerance, and market outlook. Fixed rates offer payment certainty — ideal if you're on a tight budget or prefer stability. Variable rates have historically saved borrowers money over time but fluctuate with the Bank of Canada's prime rate. I'll analyze your specific situation and walk you through both options with real numbers so you can make an informed decision — not just take a guess.
What's the difference between a mortgage agent and a bank specialist?
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A bank mortgage specialist works for one institution and can only offer that bank's products. As an independent mortgage agent, I work for you — not the bank. I have access to 65+ lenders including all major banks, credit unions, and alternative lenders. This means I can compare dozens of products simultaneously, negotiate on your behalf, and find the rate and terms that genuinely fit your needs — not just what one bank happens to offer that day.
