In laval and on the north shore of montreal.
Your mortgage loan at the best rate and with the right conditions!
It is our knowledge of the mortgage market that makes the difference!
Our services
Mortgage Renewal: Your Options
Mortgage Broker
Laval-based mortgage brokers,
we help you find a financing solution for your real estate purchase project on
Montreal's North Shore
A mortgage brokerage firm working with twenty-odd financial institutions
Whether you are a first-time buyer, a newcomer or a real estate investor on the North Shore, you can get the best mortgage rate for your home purchase project by using our services.
We are qualified mortgage brokers with access to over 20 mortgage lenders in Quebec. Tell us about your project and we will advise you every step of the way:
- Mortgage pre-qualification and pre-approval;
- Mortgage approval;
- Mortgage renewal;
- Mortgage refinancing;
- Debt consolidation;
- Mortgage assumption in case of separation or divorce.
No matter where you are in Laval, our support in getting a mortgage for your real estate project can be very beneficial.
Personalized assistance from professional mortgage brokers in Laval
Save time and get the best conditions for your loan through our mortgage brokerage. Because each real estate project is unique, we provide a personalized mortgage brokerage service.
As part of our mortgage brokerage service, check out our free reports titled:
- 5 things you need to know to get approved.
- 5 things You Should Never Tell Your Bank When Getting a Mortgage
- Getting the best interest rate in changing economic conditions.
- Find out how your mortgage penalty is calculated before you sell your home or break your mortgage contract?
- 5 things you should never tell your bank when getting a mortgage
Our team of mortgage brokers will be happy to advise you
Good reasons to trust us
Mortgage brokerage firm working with twenty-odd financial institutions in Quebec.
Experienced brokers who share the same values and professionalism to negotiate the best mortgage loan for you.
Presenting different mortgage products available and personalized advice according to your needs.
Mortgage brokers available to assist you throughout the loan application process.
Is a home inspection a pre-purchase must?
Technically, the answer is no. However, as mortgage specialists, we strongly recommend it! We are strong believers in pre-purchase home inspections because they provide you with a better understanding of the property you are buying. The role of the inspector is to provide you with a thorough report on the quality of the property. Does your new home have:
- Structural problems?
- Foundation problems?
- Water infiltration?
- A roof in need of replacement?
- Windows in need of replacement?
The answer to each of these questions could save you tens of thousands of dollars in unexpected repairs. It could save you having to go to court to claim hidden defects and all the related costs involved in going to court. How to choose a good inspector.
Be sure that the inspector is a member of a recognized organization that provides the following structure and training:
- Strict criteria for admitting candidates
- A series of exams that evaluates their technical knowledge
- A compulsory annual training program
- Mandatory professional (errors and omissions) insurance for its members.
In sum, an inspection will provide you with a better knowledge of your future home and allow you to plan for its maintenance. The investment is definitely worth it!
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Do you know what the minimum down payment is for a condo, a bungalow, a castle, etc?
The minimum cash down payment to purchase a house, condo or duplex valued at less than $500,000 is 5%. When the price is higher than $500,000 but lower than $999,999, you must put down 5% for the first portion of $500,000 and 10% cash for the exceeding portion.
For example, a property valued at $900,000, would require a 5% down payment for the first $500,000 and a 10% down for the remaining $400,000, giving you a total cash down payment of $65,000.
You must of course plan on occupying the property. For properties valued at more than $1,000,000, then you must put down 20% of the price.
A 10% down payment is required for an owner-occupied triplex or fourplex. A 15% down payment is needed for a fiveplex or greater, which will be insured by the CMHC. If you are buying a one to four-door property that is not owner-occupied (i.e. for purely rental purposes) a 20% down payment is needed.
Housing market highlights
Source: Housing and Mortgage Market Review
The Bank of Canada’s soft landing is on track…for now Highlights:
- The inflation fight is progressing well, but the Bank of Canada says it may need to keep rates higher for longer to get back to target.
- New listings have fallen to 20-year lows, which is putting a floor under the housing market.
- A new record for population growth coupled with slowing housing starts raises risk of an even worse supply crisis down the road.
- Mortgage delinquencies starting to inflect higher and could potentially double in the next year.
Summary Québec:
Housing demand continues to cool in Quebec while resale supply remains on the rise. Still, the overall market remains well balanced, and we’re beginning to see signs that prices are stabilizing.The economy is still on solid footing, but the lagged impact of rising rates should begin to be felt by consumers and businesses later this year, which should result in some modest downward pressure on employment towards the back half of 2022. Rising rates, weak consumer confidence weigh on Quebec's housing demand
Seasonally adjusted home sales across the province of Quebec fell 6.3% in Q1 of 2023, but they did end the quarter on a solid note with sales ticking up 0.8% month-over-month in March. Demand has now fully retraced the “COVID bounce” and have fallen back to 2015 levels.
In spite of new listings falling 4.7% in Q1, active inventory rose 11% relative to the fourth quarter of 2022. With rising supply and weak demand, the market balance deteriorated again with months of inventory jumping to 5.7 from 5.0 in Q4. Still, that leaves it well below normal levels over the past decade. Seasonally adjusted average house prices slipped 0.2% in the first quarter in spite of a 1.6% monthly increase in March. That left prices down a modest 3.8% compared to the same time last year. For more information about demographic growth and the Quebec labour market: Housing and Mortgage Market Review: April 2023 - Quebec
Buying your first home? 5 mistakes to avoid
Looking for your first home? What exciting project! At Mortgage Planners, we have your best interests at heart. Therefore, we want to warn you against the most common mistakes made by our customers. Not considering your needs
It’s important to compile a list of essential requirements and interesting, but not essential elements related to purchasing a house. Here are just a few:
- Cities and neighbourhoods;
- Property type (single family home, condo, plex...);
- Space required (kitchen size, number of bedrooms, shed...);
- Renovations required or turnkey home;
- Close to public transportation, school, hospital, etc.;
- Swimming pool, hot tub;
- Size of lot;
Not knowing your financial situation
You must purchase a home that won’t break your budget, all while keeping some leeway to cope with life’s curveballs: the loss of a job or an illness, for example. To find out what your borrowing capacity is, you should consult a mortgage broker who will let you know where you stand. Ignoring the services of a real estate broker
Carefully choose your real estate broker since they will become your best ally. Ask friends or colleagues for recommendations, then take the time to talk with the "potential candidates". Your broker will help you find The house that fits your needs. Your broker will also accompany you during each visit and help you fill out the offer to purchase form. Your broker is a skilled negotiator and will help you get your home at the best price. Giving in to a house crush You fell under the spell of a century-old house and made an offer right on the spot. No need to get it inspected, it’s so beautiful! However, appearances can be deceiving. Unlike a novice, the building inspector will immediately see that water once infiltrated the basement, that the electrical box isn’t up to code and that the plumbing should be redone. Neglecting the costs associated with the purchase Of course, getting the best possible price at a good interest rate is important. But you should also expect the following extra costs:
- Inspection fees;
- Mortgage loan insurance and tax on this insurance premium;
- Municipal and school taxes;
- Land transfer tax (commonly called the Welcome tax);
- Notary fees (another professional you should carefully choose);
- Hook-up fees to electricity and telecommunication services;
- Moving fees;
- Critical and urgent renovations;
- Interior design (furniture, paint, decorations...);
- Home insurance.
Lastly, if you only remember one thing from this article, this should be it: surround yourself with experts who will work with you to your dream. Mortgage Brokers, Real Estate Brokers, Building Inspectors and Notaries are at your service. The content of this website is protected by copyright which is the exclusive property of Mortgage Planners – Mortgage Brokering Firm
