Mortgage FAQ

A licensed mortgage professional reviews your situation, explains your options, and submits your application to lenders in their network. You work with one person through the process rather than applying to lenders one at a time.

An initial conversation and review of your options carries no cost or obligation. On standard residential mortgages, compensation is typically paid by the lender; anything unusual would be disclosed to you in writing before you commit.

For a first conversation, a rough picture is enough: your income, your existing debts, and your down payment or current mortgage balance. Formal documents come later, once you decide to move forward.

It depends on your income, existing debt payments, down payment, credit and the property. Lenders apply GDS and TDS ratio limits and the stress test. The affordability calculator gives an estimate; a review gives you a realistic number.

There's no single cut-off. Stronger credit generally opens more options and better pricing, while other lenders work with weaker credit under different terms. Your overall picture matters more than the score alone.

Often yes. Lenders look at the type of employment, probation, and whether income is salaried, hourly, commission or self-employed. It's worth confirming before you make an offer.

Fixed gives payment certainty for the term. Variable moves with prime, which can help or hurt. The right answer depends on your tolerance for change, your plans for the property, and the spread between the two at the time you decide.

No. Prepayment privileges, penalty calculations, portability and whether the mortgage is collateral-charged all affect what it costs you over time. A slightly higher rate can be cheaper overall.

Yes, within your prepayment privileges — lump sums, increased payments, or an accelerated schedule. Accelerated bi-weekly payments alone add roughly one extra monthly payment per year.

Four to six months before your maturity date, so you have time to compare and act without pressure.

Usually a prepayment penalty — either three months' interest or an interest rate differential — plus possible discharge and legal fees. Your lender can quote the exact figure.

Conventional refinancing generally allows up to 80% of your home's appraised value, less your existing balance, subject to qualification.

Through the SAITHBAR client portal. You upload directly, see what's still outstanding, and message your agent — no email attachments.

JARVIS is the AI mortgage assistant on this site. It answers general mortgage questions, points you to the right calculator or page, and connects you with Swapnil when you need a person. It doesn't give approvals or personalized financial advice.

Yes — the office is at 83 Galaxy Blvd #11, Etobicoke. Phone and video work equally well if that's easier.