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.

About Our Mortgage Brokers In Edmonton

Mortgage Makers Inc. was established in 1991 with the goal to give clients access to a wide range of lenders and the very best rates and benefits available in Canada.

I believe that service is my most vital asset. I am available to meet my clients at your convenience, whether it’s in the evenings or on weekends, in your home, work or any another locale. In addition, when good credit and job history is evident, I do not charge any brokerage fees to process and complete applications for first mortgage financing at the very best terms and conditions.

For those with special financing needs, whose requirements are not as straight forward as to command funding from prime lenders, I also have access to secondary financing sources through private investors.

The commercial brokerage department provides a full range of financial services.

I regularly have access to mortgage rates that are 1.00-1.35% lower than the rates posted by banks. These rates are established through the buyer’s credit standing, employment record, and the location of the home. With good credit, I charge no brokerage fees of any kind. Mortgage insurance fees, appraisal fees, and legal fees, as well as any other closing costs, are carefully explained to every borrower. Like you, I don’t believe in surprises!

I will carefully guide you through the financing process.

Our Mortgage Brokers

When you think mortgage you may think about lenders, rates and lenders but not everyone thinks about mortgage brokers. Mortgage brokers have the ability to work with more than just the big banks when finding the perfect mortgage product for you. Mortgage Makers The Mortgage Centre has been operating and facilitating clients needs for more than 30 years in the greater Edmonton area and all over Alberta. I can actually service all of Canada! With my experience and connections, you can trust that my clients get the best rates and a mortgage product that fits your lifestyle.

I specialize in all mortgage products, from first time homebuyers, refinancing, purchase plus improvements and even reverse mortgages! Going to a big bank can limit your choices and they can make you feel pressured into signing before you are ready. I ensure that you understand the information before signing and will go over all your mortgage options in depth so that you know you’ve picked the right mortgage. I prioritize my clients needs and interests and guarantee impeccable service.

Whether you have questions, concerns or simply want more information, I am always ready to help day or night and will discuss every detail to help you make informed decisions. I will listen to your needs and provide you with solutions that would be favorable to your situation. I understand that every client is unique, and mortgage needs vary from one client to another, so I will take the time to get to know you and what you’re after to provide you with the best mortgage and lowest rates.

Trust is an important aspect, and I pride myself on building long-term relationships with my clients. I will always provide you with an enjoyable experience, and my company prioritizes exceptional service and great rates, so you can contact me anytime for all of your mortgage needs.

Contact me today if you want to work with the best mortgage broker in the Edmonton area!

PAM PETERS

Pam Peters – Mortgage Broker – I have been with Mortgage Makers Inc. since 1997. I find this to be a rewarding career and enjoy helping clients whether it is with first-time home buyers, the client’s looking to refinance, or just providing mortgage solutions. I obtain competitive mortgage rates and options. I have placed mortgages for clients with limited down payments, who are Self-Employed, new to Canada, and even clients with poor credit. I am happy to provide friendly knowledgeable service, flexible hours, great mortgage products and competitive rates. Give me a call to see what I can do for you.

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