review-starsFIVE STAR CUSTOMER SERVICE!
telephone +1 705 302 0377

we are committed MORTGAGE BROKERS

Who Stands To Change The Industry


TALK TO A MORTGAGE SPECIALIST

Barrie’s Best Mortgage Brokers Welcome You!

Home Refinancing Specialists Available in Barrie

Unparalleled In Any Capacity

Our mortgage agents in Barrie quite simply have no equal in any aspect. Knowledgeable, friendly, and fast, our staff is ready to help you in any way possible. Just call us first so best mortgage broker in Barrie can get to work for you.

Do not make the mistake of hiring an inexperienced agents. Hire us and get moving on your new life in Barrie. Hassle-free, the best rates and top-notch professional service is what we offer you. Call us today at +1 866-921-8890!

  • We receive and respond to your inquiries faster than anyone
  • We do it with the courtesy and respect that you deserve
  • We answer all questions and explain anything that is unclear
  • We always get the best rates from any lender out there
  • We make sure your mortgage is a pain-free process

Welcome To Barrie

Barrie is a fast-moving, always growing city located in Southern Ontario, Canada, on the western shore of Lake Simcoe. For the past 10 years population of Barrie grew by about 60%, and currently exceeded 130,000 permanent citizens.

When you come here for a home loan, regardless if it’s for residential, commercial, or both, just remember to call us first so Barrie’s best mortgage brokers can get to work for you. Whether it’s your first mortgage, refinancing, or other, we are the place you should call first in order to ensure you get the best deals possible, along with the greatest service you’ve ever experienced.

For Your Home

Waiting to move into your home should not happen at all, unless you just simply aren’t ready. Getting a residential mortgage in Barrie should not take forever, leaving you and your family in limbo until all the paperwork is done.

Our experts are fully prepared to get your case done rapidly, correctly, and cheaply. We promise the rates you get with us cannot be beaten by anyone. In fact, we guarantee it.

For Your Business

Barrie is growing, and that means it is critical to get your business up and running quickly to capture a great market share. Our commercial mortgages are done just like our residential ones.

When our agents are assigned to you, they get to work with you knowing you are in the best possible position. We move with the same speed, courtesy, and deal-making capabilities that allow us to give you a great house loan. Don’t lose out on potential customers and sales just because closing your deal is taking too long.

For Your Home… Again

Mortgage refinancing in Barrie has never been easier now that we’re here. We are the champions when it comes to getting you any kind of mortgage, and that includes refinancing. If you want someone who can get the job done, get it done right, and get it done while treating you like you are a real person, call us today. The process is just like any other for the services we provide.

Our fantastic staff is there for you, no matter what your needs might be. Although we probably don’t know you personally, it will seem like you have an old and trusted friend behind you when you work with us. Call us and know the difference between a good broker and great broker from first contact with us. Let us help you get what you’re after and leave you with extra time to get other things done.

Our Barrie Based Mortgage Brokers Offer The Following Services

Private mortgage
Private mortgage
Second mortgage
Commercial property
Reverse mortgage
Refinance
Construction mortgage
Home Equity Line of Credit
Mortgage porting

Private Mortgage

Conventional mortgages are not for everyone. Sometimes a private mortgage is the best or only way to finance the property of your dreams. Private mortgages are tailored to the needs of the individual. They come all shapes and sizes. Most importantly, private lenders are more concerned with the value of the property that will secure the loan than in the credit rating of the lender.

Private mortgages are short term loans. Typically, they run for terms of between six months and three years. They are also interest only loans. The interest rate on a private mortgage will be higher than you’ll pay on a conventional mortgage. The higher interest rate reflects the higher risk to the lender.

You will also have to pay closing fees for the loan. You should budget for between 1% and 3% for these fees, but most lenders will include the fees in the mortgage. You will also need a down payment of at least 15%.

A private mortgage is the best fit for you under the following circumstances

  • You have a low credit rating and have been turned down by a conventional bank
  • You are self-employed or working off commission and have difficulty proving your income
  • You plan to buy an unconventional property that the banks won’t finance
  • You need the money quickly to take advantage of an investment opportunity.

Applying for a private mortgage is quick and easy. Private lenders do not have to wade through the bureaucracy common amongst the bigger institutions.
Your private lender will help you with an exit strategy because at the end of the term you should be in a position to pay back the capital amount and refinance through a cheaper conventional loan.

Call us: +1 705 302 0377

Questions? We’re here to help!

img

Fund a TD Mortgage and You Can Get up to $2500 with a Purchase!

To learn more
Contact Us

You have questions. We are here to help!

or

Certified Mortgage Broker Barrie

Frequently Asked Questions About Your Barrie Mortgage

What Is A Mortgage?

A mortgage is a loan made to buy a property. It is the legal document that carries the amount of the loan, the interest rate, repayment agreement and any other terms and conditions. The property is used to secure the loan. The lender may foreclose on the property and sell it to recover his money if the borrower defaults on payments.

The amount borrowed is known as the principal. Every time you make a payment, you pay the interest and a portion of the principal. In this way, the principal amount reduces over the term of the mortgage.

document

How Much Will We Need For The Down Payment?

To secure a mortgage you will have to make a down payment. The size of the down payment that you can put down will have a major effect on the size of your mortgage and the repayments that will have to make. The more you have to put down the better.

If you can make a down payment of 20% or more, you will have a conventional mortgage. If you can’t afford a 20% payment, you may have to settle for a high ratio mortgage. A high ratio mortgage attracts mortgage default insurance. You can pay this in a lump sum or in monthly instalments. The insurance covers the lender in case of a payment default.

mortgage

Should We Seek Pre-Approval?

Pre-approval is a great option, as you can go property shopping in the certainty of receiving a mortgage that will cover the cost.

Pre-approval can save you time and effort as you know ahead of the house-hunt exactly what property you can afford.

It puts you in a strong negotiating position as the seller knows that you already have the funds available.

With a pre-approval, you’ll also know what interest rates you can expect and what your monthly payments will be so it makes it easier for you to budget.

When you obtain pre-approval, the interest rate is fixed for a period of between 60 and 120 days.

property

What Are My Choices When It Comes To Repayment Plans?

There are two types of repayment plan

  • An Open Mortgage Repayment Plan – If you have an open mortgage plan you can pay off your mortgage at any time without incurring penalties. You can also make large repayments whenever you want. These mortgages are usually short term, typically six to twelve months and the interest rates on these instruments are generally higher.
  • A Closed Mortgage Repayment Plan – The term of a closed mortgage is longer, running for periods of six months to ten years. Closed mortgages limit your options when it comes to making repayments. You will incur penalties if you decide to pay early, renegotiate or refinance your mortgage. The bank lender will also limit the lump sum payments that you make against the mortgage.
networking

What is the Difference Between Fixed And Variable Rates?

There are several differences between fixed and variable rate mortgages. The correct one for you will depend on your risk appetite and view of the future direction that interest rates will take.

  • Fixed Mortgage Rate – If you opt for a fixed rate mortgage the interest rate that you negotiate will remain fixed for the full term of the mortgage. This type of mortgage is popular as it is a low-risk choice. On the downside, you are likely to pay more interest over the longer term.
  • Variable Mortgage Rate – The variable mortgage rate is connected to prime. In fact, your mortgage rate is quoted as prime less a percentage. As prime moves, so does the rate of interest on your mortgage. Many property owners are not prepared to take this financial risk even though, over time, the variable rate is lower than the fixed rate.

Terms That You Should Know When Closing a Mortgage

  • Amortization – The length of time that you will take to pay off your mortgage. It is typically considerably longer than the term of the mortgage.
  • Appraisal – a professional evaluation of the property value.
  • Deposit – payment made to ensure that the house is held for the buyer.
  • Down payment – a percentage of the cost of the property that the mortgagee must pay to close the deal.
  • Home inspection fee – the cost of hiring a qualified person to inspect the property for structural integrity prior to purchase
  • Loan to value ratio – the size of the mortgage relative to the property value. The lower the loan to value ratio the better.
  • Prepayment option – this option allows you to make certain specified pre-payment amounts of the principal amount. These options come with and without penalties.
  • Property transfer tax – a tax on the transfer of property from one owner to another.
  • Mortgage loan insurance – insurance for buyers who do not have the required down. payment. The cost of the insurance will depend on the size of the loan.
  • Term – the length of time that your mortgage will run before it requires renewal.
money-bag

What Are Closing Costs?

Closing costs are all the costs that are associated with getting a mortgage. You can expect your closing costs to total between 2% and 4% of the mortgage. These costs usually include;

  • Appraisal fees – an appraisal of the property is often a lender requirement
  • Home inspection fees – to ensure that the
  • Legal fees
  • Realtor fees

You should also take account of the cost of moving when budgeting and don’t forget the property tax.

handshake

What Are My Choices When It Comes To Repayment Plans?

When first you take out a mortgage it may seem next to impossible to pay off your mortgage more quickly, but many have done it and reaped the benefits of reduced interest costs. Here are some strategies that you can use to pay off the mortgage

  • Make Pre-payments – Some mortgages allow anniversary payments of as much as 20% per annum. If you have a bonus or tax refund paying it into your mortgage will help you to quickly pay it off.
  • Make a Lump Sum Payment
  • Make a Bigger Down Payment
  • Make More Frequent Payments – Making payments weekly or fortnightly will save you interest.

Amortize your mortgage over a shorter period – If you can afford higher repayment, paying your mortgage off in a shorter period will save you on interest.

Google Reviews

Certified Mortgage Brokers
5
powered by
Sean Hammond
2019-08-29

I had to port a mortgage to a new condo, Leon had excellent knowledge to get me through the approval process. When the bank made an error, Leon was quick to contact them to make sure everything was done right and on time. He is very professional and courteous and I recommend his service to anyone who wishes to apply for a mortgage.

Ronald McDonald
2019-08-27

Giving them 5/5 stars. Massoud helped me with my mortgage and he never missed a beat. He made the process very straightforward as a first time home buyer. Shopped around for other mortgages but he was always the first to get things for me. Highly recommend him

Shannon Jones
2019-08-23

I was looking to renew my mortgage and my previous lender was less than willing to do anything to keep my business. So I started to look for another brokerage to do business with and Certified Mortgage Broker stood out purely based on my interactions with Massoud. Massoud was professional and clearly had a keen sense of customer service; which I make a high priority when doing business with anyone since I'm in the customer service business myself. Peter rolled out the red carpet for me, walked me through my options, inquired about my plans with my current property, give me opinions and facts about rentals in the area, sales/purchases. In some respects he gave me more information about real estate than my real estate agent has!

Glen Plummer
2019-08-20

Selling and buying a home is a stressful experience and Leon with CMB in North York took all of the stress out of arranging the financing. He was very professional and clear about what I needed to provide to him. He used this information to arrange the best mortgage option on our new home, arranged the bridge loan to cover the closing period differential, and arranged closing out the mortgage with the previous lender.. Our experience with Leon is far better than the local in-person brokers that we contacted previously and Leon has helped us with a mortgage renewal in the past with the same excellent experience.

Colleen Power
2019-07-31

Leon returned my called from a missed call within 15 minutes of my call and I left no message. Leon and his team were fantastic. Even with the money issues we had Leon made me feel important and valued as a person.

Contact Us