WHY SHOULD I DEAL WITH MORTGAGE MAKERS INC. INSTEAD OF MY BANK?

We work for you, our client and we provide lending options from a multitude of lenders, banks included. This provides you with a wider selection of mortgage options and low rates. Every lender has their suite of products, our job is to make sure that you are getting the right mortgage product for you.

Nothing. Mortgage Makers is paid a finders’ fee by the lenders that we place your mortgages with – not by you the borrower. Our compensation is affected mostly by the size of the loan and the length of the term. 99% of the time we do not charge our clients a fee. Occasionally, however, and with full disclosure in advance, we may need to charge a fee in the event that we are securing specialty financing, such as a second mortgage, commercial mortgage, or some other unusual circumstance.

WHAT LENDERS DOES MORTGAGE MAKERS DEAL WITH?

We have access to a large lending pool which includes major banks, credit unions, trust companies, Mortgage Backed Securities lenders, and more! It’s our job to select the mortgage lender that offers the best product at the best rate to suit your specific needs. So your circumstances and the mortgage options you are looking for will determine what lender will best suit you.

HOW LONG WILL IT TAKE TO COMPLETE A MORTGAGE TRANSACTION?

That all depends on your deal, how fast you can provide documentation, which lender we are dealing with etc. For a stress-free closing you should plan on at least a month. That would include: taking the application, submitting the deal, signing the documentation, sending to lawyers and then funding. We have done and can do deals more quickly but this can in some case limit your lender options, most clients don’t want to be to rushed so we recommend possession to be about a month or so away.

WHY SHOULD I GET PRE-APPROVED?

There are a number of reasons to sitting with a mortgage professional and completing a mortgage pre-approval before you head out into the housing market. First, the pre-approval will give an an accurate idea of how much you qualify for or more importantly what mortgage amount coincides with the payment amount that fits your budget. We can also secure mortgage rate holds for up to 120 days and protects you against rate hikes during that time period. Being pre-approved also helps top speed up the final approval once you have found a property as much of the work has already been done. This process helps us to determine what types of documentation will be needed to finalize your mortgage giving you ample time to gather these items. Lastly many realtors prefer to work with clients who have done their homework ahead of time to make sure they are not wasting your time and theirs looking at the wrong properties. Don’t be fooled! Pre-qualification is not the same as Pre-approval! Make sure you are pre-approved, without actually evaluating your circumstances in advance and providing you a proper rate hold it can be tough to know what you qualify for, at Mortgage Makers we work through that process thoroughly to make sure you are ready to make that first or next real estate purchase.

WHAT ARE CLOSING COSTS?

Closing costs are those costs that are associated with obtaining and finalizing a mortgage. The most common closing costs can include some or all of the following, legal fees, appraisal fees, survey fees, title insurance, property tax adjustment, moving expenses and utility hook ups and Realtor fees.

CAN I GET A MORTGAGE TO RENOVATE MY PROPERTY OR PAY OFF MY UNSECURED DEBTS?

Most certainly. Lenders will allow you to access the equity in your home for a number of different reasons. Some clients borrow to complete home improvements, others to consolidate unsecured debt, some to invest in property or a business or even the stock market. There are many reasons for you to borrow against the equity in your home, let us show you how.

WHY DO I NEED TO PAY A CMHC MORTGAGE INSURANCE PREMIUM?

You pay a mortgage loan default insurance premium when you put less than 20% of the property value as a down payment. Smaller down payments translate to higher risk for the lender as the homeowner as less equity invested. Default insurance helps to protect the lender against mortgage losses should things lead to a mortgage default or foreclosure. The benefit of default insurance from a client’s standpoint? Well it provides those clients who do not have larger down payments access to the same lender and rates as those clients who do possess the 20% or more needed for conventional financing.

WHAT SOURCES CAN I USE TO SUPPLY MY DOWN PAYMENT?

Down payment funds can come from a variety of sources. It can come you’re your savings, investments, gifted funds from family members, RRSPs if you are a first-time home buyer and it can even be borrowed. This gives you lots of options to come up with the down payment funds needed for your first or next purchase.

PAM PETERS

mccapp.ca/app/pam-peters

Reliable Mortgage Brokers

LICENSED WITH MORTGAGE MAKERS INC O/A MORTGAGE MAKERS,

THE MORTGAGE CENTRE.

Founded in 1991, Mortgage Makers Inc. is a family run Mortgage Brokerage that has been providing Edmonton area clients sound mortgage advice for over 25 years. Over that time, it has been our goal to give clients access to licensed Mortgage Professionals, a wide range of lenders and some of the best rates and benefits available in Canada.

Pam Peters is a Mortgage Brokers licensed by the Real Estate Council of Alberta (RECA), she is also a member of the Alberta Mortgage Brokers Association (AMBA) and has over 25 years experience in real estate financing. Whether it is a quick question or working through a complicated deal, I am glad to hear from you.

Give me a call and let me know how I can be of service.

Mortgage Products

First-Time Homebuyer

Self-Employed Buyer

Borrow Your Down Payment

New To Canada

View more Mortgage Products

(780) 436-0390

[email protected]

1619 – 89 Street NW
Edmonton, Alberta, Canada T6K 2A8

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Testimonials

Doug helped me with the purchase of my first home!
He’s amazing, very helpful, knowledgeable and professional! It wasn’t an easy deal but he still managed to get it done.
I highly recommend him.

– Alaa Z.

Pam and her team at Mortgage Makers made everything about starting my first mortgage easier. I learned a lot about the mortgage process and they handled any issues that arose with efficiency and wonderful service. I highly recommend their company, especially for first timers. I ended up with a great rate and Pam’s advice was vital when navigating the purchase of my first house.

– Kelty D.

We are consistently so impressed by the support we have received from Mortgage Makers! We have purchased with their help three times now and each time the care and support we receive is unparalleled. Pam is so responsive and genuinely cares about her clients and helps ensure the purchase process goes smoothly. We greatly value her wide ranging expertise in answering all of our questions and the relationships that she has with lenders, which helps facilitate a smoother mortgage process. Couldn’t be more thankful that my mom found Mortgage Makers for us when we first looked to buy a condo a decade ago!! I enthusiastically recommend Mortgage Makers to my friends – the service is impeccable…Pam is literally the best part of our real estate endeavors!

– Elizabeth M.

We have bought two homes with Pam’s help – and when we eventually sell and buy again, we will be back to Mortgage Makers Inc again! Pam is beyond helpful, and she always makes the best of each situation we’ve been in. She’s found great rates with great lenders, and she has walked us through the process patiently and promptly. You can always count on a quick answer from Pam, and she has dealt with us even when we were in a different province. We can’t recommend Mortgage Makers enough. If you want quick, non-judgemental, and effective service from a genuinely pleasant person, this is the company to choose!

– Linda M.

Pam and Doug Peters should be your first and only decision for all your Mortgage needs. They are professional, knowledgeable, friendly, helpful and efficient. You will never be disappointed with their service.

– Arden V.