Our proven 5-step formula has helped hundreds of Canadians achieve their homeownership dreams. Whether you're a first-time buyer, newcomer to Canada, or looking to refinance, this roadmap will guide you to success.
Build a strong financial foundation with proper credit management, savings strategies, and debt optimization
Navigate the market with expert guidance, timing strategies, and personalized mortgage solutions
Build equity faster with accelerated payment strategies, refinancing optimization, and portfolio growth
Follow this proven formula that has helped thousands of Canadians secure their dream homes with confidence
Understanding where you stand financially is the foundation of mortgage success. We'll help you evaluate your complete financial picture.
Check Your Credit Score: Know your score and identify areas for improvement (aim for 680+ for best rates)
Calculate Your Budget: Determine how much you can comfortably afford (typically 30-35% of gross income)
Review Your Debt: Assess debt-to-income ratio and create a plan to reduce high-interest debt
Track Your Income: Document stable income sources and employment history (2+ years preferred)
A strong down payment reduces your mortgage costs and opens better financing options. Here's how to get there:
• Home Buyers' Plan: Withdraw up to $35,000 from RRSP tax-free
• First Home Savings Account: Save up to $40,000 tax-free
• Land Transfer Tax Rebate: Save up to $4,000 in Ontario
Putting down 20% or more eliminates CMHC insurance (2.8-4% of mortgage), saves you thousands in premiums, and typically qualifies you for better interest rates.
A mortgage pre-approval is your power tool in the real estate market. It shows sellers you're serious, locks in your rate for 90-120 days, and clarifies your exact budget.
Lock in today's rate for 90-120 days. If rates drop, you get the lower rate
Get exact purchase price you qualify for - no surprises or disappointments
Sellers take you seriously when you have financing confirmed
Complete most paperwork upfront for quick, smooth transactions
Not all mortgages are created equal. We'll help you select terms and features that align with your financial goals and risk tolerance.
Predictable payments, protected from rate increases. Ideal for budgeters and long-term planners.
Lower starting rate, fluctuates with prime rate. Good for risk-tolerant buyers who can handle payment changes.
Split between fixed and variable. Get stability AND savings potential - best of both worlds.
Pay 15-20% extra per year without penalty - crucial for paying off faster
Transfer your mortgage if you sell and buy within closing period
Choose weekly, bi-weekly, or monthly payments to match your income
Allow buyers to take over your mortgage if rates have risen
Avoid This Mistake!
Don't choose based on rate alone. A slightly higher rate with better features can save you thousands.
Getting your mortgage is just the beginning. The real success comes from strategic optimization to build wealth faster and save tens of thousands in interest.
Real Example: On a $500K mortgage at 5%, bi-weekly payments save you $32,000 in interest and pay off 3 years faster!
When to Review: Check your mortgage at renewal, when equity reaches 20%, or whenever rates change significantly
Every payment increases your net worth and financial security
Real estate typically appreciates 3-5% annually long-term
Your mortgage payment builds an asset instead of paying rent
Take advantage of these free resources designed to guide you through every step of your mortgage journey
Calculate your monthly payments, see how much you can afford, and compare different scenarios
Comprehensive guides for first-time buyers, newcomers, construction mortgages, and more
Ready to begin? Complete your mortgage application online in minutes and get started today
Learn from others' mistakes - here are the top errors that cost buyers thousands
Going with your bank's first offer without comparing. Even 0.25% difference on a $500K mortgage = $13,000+ over 5 years.
Solution: Work with a broker who compares 40+ lenders for you
Borrowing the maximum you qualify for leaves no room for emergencies, maintenance, or life changes.
Solution: Aim for 70-80% of your maximum to maintain financial flexibility
Focusing only on the mortgage payment and forgetting property tax, insurance, utilities, maintenance, and condo fees.
Solution: Budget for total housing costs = 35-40% of gross income maximum
Switching jobs, buying a car, or opening new credit cards during the application process can kill your approval.
Solution: Keep finances stable from pre-approval through closing
Waiving inspections in hot markets to win offers can lead to $20K+ in surprise repairs after closing.
Solution: Always inspect OR get professional pre-listing inspection reports
Penalties for breaking fixed mortgages can cost $10K-$30K+. Not understanding your contract is expensive.
Solution: Choose portable mortgages and understand penalty calculations upfront
With MBR Mortgage, you're not just getting a mortgage - you're getting a partner committed to your long-term financial success. Book your free consultation today and let's create your personalized roadmap to homeownership.