Please choose from the list below, or simply scroll down the page to learn about the various mortgage services we provide.
 

Pre-Approved Mortgages
A pre-approved mortgage allows you to know how much of a mortgage you qualify for and how much of a house you can afford. When you pre-qualify for a mortgage, you get a guaranteed rate for 120 days. If interest rates rise, you have a locked in rate. If interest rates drop, you will automatically get the lower rate.

Getting pre-qualified for a home loan will give you an idea of what purchase price you want to spend to get payments you are comfortable with. A pre-approved mortgage makes the seller feel more confident by knowing that you are a serious buyer and gives you more leverage when negotiating a purchase price for your new home.

Start your online application today

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First Time Home Buyers
Buying your first home can be both exiting and stressful. Let us take the stress away. Having a mortgage broker work on your behalf ensures that the transaction will run smooth. As a mortgage broker, I will match you up with the lender that best suits your needs. With as little as 0% down you will be getting the best rate available. With No Fees being charged to you for the service; what do you have to lose!

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Debt Consolidation
If you have equity in your home, you may want to take advantage of the low mortgage interest rates to consolidate your bills with your mortgage payment. You would have only 1 easy payment per month which would be less than your existing mortgage combined with your credit card debt. This would provide some relief on the debt you have to pay every month.

An average credit card charges approximately 18% interest. Assuming that your interest rate on your mortgage is 5%, you would actually be saving 13% interest on that outstanding balance. If you are concerned that your mortgage would increase, you could always take the extra money you normally pay on bills every month and increase your payments on your mortgage by using your prepayment privileges. That way you would be paying the same amount per month except more of your money would be going towards reducing the debt not towards the interest. You would actually build home equity sooner.

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Mortgage Renewals and Transfers
Interest rates have not been this low for many years. We can hold an interest rate for up to 120 days prior to your renewal. If interest rates go down, you get the lower rate. If interest rates go up, you keep the rate that is on the commitment or get the lowest rate during the 120 day period, whichever is lower.

It is always wise to start an application between 5 or 6 months before your existing mortgage comes up for renewal. Sometimes it is more beneficial to RENEW YOUR MORTGAGE EARLY.

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Variable Rate Mortgages
A Variable Rate Mortgage is a mortgage that is based on the prime lending rate. This type of mortgage can also be referred to as a floating rate mortgage or an ARM -adjustable rate mortgage. There are many different Variable rate mortgages to choose from...

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Buying a New Home
Putting 0% - 20% as a down payment classifies a mortgage as a "hi ratio" mortgage. A high ratio mortgage must be insured by the government against default through either Canada Mortgage Housing Corporation or a private insurance company approved by the government.

The "CMHC" fees range from .5% to 3.40% depending on how much of a down payment is put towards the purchase. The one time insurance premium is added to the principal amount of your mortgage. Putting 25% or more as your down payment classifies your mortgage as a "conventional" mortgage. No CMHC fee will be charged. Having a mortgage broker work on your behalf saves you the time of having to shop around for the best rate.

With over 32 lenders competing for your mortgage, only one credit bureau being pulled, and no fees are charged to you for this service, YOU COME OUT THE WINNER!


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100% Financing - the No Money down Mortgage
100% Financing - the No Money down Mortgage You could own your own home for what you pay in rent! If your credit is good and you have been in the same line of work for 2 or more years, you may qualify for the No Money down Mortgage. This mortgage allows you to finance 100% of the property value. The costs you would be responsible for at the time of closing would be either an appraisal fee and your legal costs or a GE Capital fee and your legal costs, depending on which lender approves your mortgage application.

If you are having trouble saving a down payment then this might just be the mortgage for you. Home ownership may be closer than you think!

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Home Equity Mortgages
A Home Equity Mortgage is a mortgage based on the equity of your home and not the people purchasing or refinancing the home. This is a great mortgage for someone who may have no credit, slow credit or bad credit. If you are purchasing a home, a minimum of 25% of your home’s appraised value will be required for a down payment. If you are refinancing your mortgage, a minimum of 25% equity will remain in your home.

Second Mortgages
Sometime a second mortgage is a good option. A second mortgage enables you to have that extra cash that you may need and does not interfere with your first mortgage. It is usually taken for a shorter period of time giving you the option to pay it off quicker, should you choose.


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Refinancing Your Mortgage
You may have a mortgage with a higher interest rate. Your mortgage specialist at Sterling Mortgage will be able to run an amortization schedule to see if you would benefit from refinancing. Your current lender will charge you a penalty to get out of your existing mortgage before the term has ended. Don't let this scare you. The penalty could be as low as 3 months interest, roughly 3 mortgage payments, yet the benefit of having the lower interest rate during the same time period could save you tens of thousands of dollars. The money needed to pay the penalty fee from your existing lender can also be incorporated into your new mortgage, should you wish, and you could still come out substantially ahead.

Mortgage refinancing can be a good way to take advantage of the low interest rates, while freeing up some money to complete home renovations, take a long overdue trip or simply give you some extra cash.


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Equity Take Out Mortgage
To achieve the best interest rates on an Equity Take Out Mortgage, you will want to leave a minimum of 10% equity in your home. This is a great mortgage for someone who may have purchased a home at a lower purchase price than what the home is worth in today's real estate market and they would like to take some of the equity out of their house in the form of a mortgage. The money could be used for home renovation, debt consolidation, to take a trip or simply to just have extra cash.


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Mortgages for the Self Employed - The No Income Qualifier
This mortgage applies to all business owners, commission sales people, contractors and consultants. You do not qualify on the income you declare, an average of your tax assessments or your pay stubs.

You must be self employed for at least 2 years and have good credit. This is a great mortgage for the self employed person, with the lenders allowing you alternative documentation to qualify. You can finance up to 95% of your property value and start building home equity today!

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Establish Credit with a Home Trust Secured Visa Card
If you would like to establish or re establish your credit, a secured Visa card may be right for you. The Visa Company will require a security deposit, which earns interest. You then are given a limit equivalent to that of the deposit. A bill will be sent to you each month when you have made purchases. It does not matter if you pay the minimum payment or the entire bill but to establish good credit, you need to pay the bill on time!

After the Visa company reviews your file, (generally 1-2 years), and are satisfied with the way your account has been handled, they will send you back your deposit, with interest!

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