Tel:   +1(604) 807-6842
Fax:  +1(888) 545-3122

We’ve compiled a very comprehensive list of all of the many questions we are most frequently asked. Please help yourself, and if you find yourself still puzzled, feel free to contact us for a more detailed and personalized answer.

Home Equity Lending as an Investor

Home Equity

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Refinancing as an investor

Refinance

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

What is a short-term mortgage?

A short-term mortgage is usually for two years or less. Short-term mortgages are appropriate for buyers who believe interest rates will drop at renewal time or are not planning on holding onto the property for a long period of time. After a term expires, the balance of the principal owing on the mortgage can be repaid, or a new mortgage agreement can be established at the then-current interest rates.

Rental Property Mortgages

Rental Property

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Short-term Lending as an investor

Short-term Lending

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

What is a short-term mortgage?

A short-term mortgage is usually for two years or less. Short-term mortgages are appropriate for buyers who believe interest rates will drop at renewal time or are not planning on holding onto the property for a long period of time. After a term expires, the balance of the principal owing on the mortgage can be repaid, or a new mortgage agreement can be established at the then-current interest rates.

Do you offer short-term mortgages?

Yes, we have access to a number of lenders who offer short-term mortgage products.

Commercial Lending

Commercial Lending

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Poor Credit or Bank Turndown

Bank Turndown

What is required to obtain a first Mortgage?

In most cases:

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Are there any extra costs or hidden fees when I use a mortgage broker?

There are absolutely no hidden fees. Any costs related to an InvestWise mortgage are fully disclosed. Any costs incurred would be the same as if you went through a bank and in most cases LESS with InvestWise. We are here to earn your business today and in the future!

What if I have had poor credit or have been discharged from bankruptcy within the last 3 years? Can I still apply for a mortgage?

Yes you can! Most conventional banking institutions put restrictions on who they lend money to for a mortgage, but InvestWise has the resources to shop for financing regardless of any credit situation.

My bank turned me down, will you do the same?

Banks typically only have access to one lender (themselves). This not only means you have less options when it comes to picking a mortgage product, it also means that if that one lender turns you down, you’re out of luck. InvestWise has access to more lenders than any other broker in Canada and is able to help almost anyone acquire a mortgage.

I’m self employed—will I qualify for a mortgage?

InvestWise regularly works with self-employed individuals, including investors, and is often able to help them acquire mortgages even if they have been turned down in the past. Apply today to get started using our Secure Application.

Debt Conslidation & Refinancing

Debt Consolidation & Refinancing

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Are there any extra costs or hidden fees when I use a mortgage broker?

There are absolutely no hidden fees. Any costs related to an InvestWise mortgage are fully disclosed. Any costs incurred would be the same as if you went through a bank and in most cases LESS with InvestWise. We are here to earn your business today and in the future!

My bank turned me down, will you do the same?

Banks typically only have access to one lender (themselves). This not only means you have less options when it comes to picking a mortgage product, it also means that if that one lender turns you down, you’re out of luck. InvestWise has access to more lenders than any other broker in Canada and is able to help almost anyone acquire a mortgage.

First-time Homebuyer Questions and Answers

First-time Homebuyer

What is required to obtain a first Mortgage?

In most cases:

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Are there any extra costs or hidden fees when I use a mortgage broker?

There are absolutely no hidden fees. Any costs related to an InvestWise mortgage are fully disclosed. Any costs incurred would be the same as if you went through a bank and in most cases LESS with InvestWise. We are here to earn your business today and in the future!

What if I have had poor credit or have been discharged from bankruptcy within the last 3 years? Can I still apply for a mortgage?

Yes you can! Most conventional banking institutions put restrictions on who they lend money to for a mortgage, but InvestWise has the resources to shop for financing regardless of any credit situation.

My bank turned me down, will you do the same?

Banks typically only have access to one lender (themselves). This not only means you have less options when it comes to picking a mortgage product, it also means that if that one lender turns you down, you’re out of luck. InvestWise has access to more lenders than any other broker in Canada and is able to help almost anyone acquire a mortgage.

Home Equity Loan

Home Equity Loan

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Are there any extra costs or hidden fees when I use a mortgage broker?

There are absolutely no hidden fees. Any costs related to an InvestWise mortgage are fully disclosed. Any costs incurred would be the same as if you went through a bank and in most cases LESS with InvestWise. We are here to earn your business today and in the future!

My bank turned me down, will you do the same?

Banks typically only have access to one lender (themselves). This not only means you have less options when it comes to picking a mortgage product, it also means that if that one lender turns you down, you’re out of luck. InvestWise has access to more lenders than any other broker in Canada and is able to help almost anyone acquire a mortgage.

Recreational Property

Recreational Property

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Are there any extra costs or hidden fees when I use a mortgage broker?

There are absolutely no hidden fees. Any costs related to an InvestWise mortgage are fully disclosed. Any costs incurred would be the same as if you went through a bank and in most cases LESS with InvestWise. We are here to earn your business today and in the future!

My bank turned me down, will you do the same?

Banks typically only have access to one lender (themselves). This not only means you have less options when it comes to picking a mortgage product, it also means that if that one lender turns you down, you’re out of luck. InvestWise has access to more lenders than any other broker in Canada and is able to help almost anyone acquire a mortgage.

Renewals & Transfers

Renewals & Transfers

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Are there any extra costs or hidden fees when I use a mortgage broker?

There are absolutely no hidden fees. Any costs related to an InvestWise mortgage are fully disclosed. Any costs incurred would be the same as if you went through a bank and in most cases LESS with InvestWise. We are here to earn your business today and in the future!

Second Home

Second Home

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Are there any extra costs or hidden fees when I use a mortgage broker?

There are absolutely no hidden fees. Any costs related to an InvestWise mortgage are fully disclosed. Any costs incurred would be the same as if you went through a bank and in most cases LESS with InvestWise. We are here to earn your business today and in the future!

My bank turned me down, will you do the same?

Banks typically only have access to one lender (themselves). This not only means you have less options when it comes to picking a mortgage product, it also means that if that one lender turns you down, you’re out of luck. InvestWise has access to more lenders than any other broker in Canada and is able to help almost anyone acquire a mortgage.

Self-employed

Self-employed

What is required to obtain a first Mortgage?

In most cases:

What can I use for a down payment?

In most cases:

  • *Registered Retirement Savings Plan: you may use an RRSP as a down payment up to a maximum amount of 20,000 and is not subject to income tax if repaid within a specific time period.
  • Gift from immediate family
  • Accumulated savings
  • Sale of existing home
  • Sweat equity
  • Line of Credit
*Only applicable for primary residence purchase. Contact us to find out more.

What costs are involved in obtaining a mortgage?

Costs incurred are:

  • Legal costs (Usually between $600 – $1000)
  • Insurance on the property and mortgage applicant
  • In some cases an appraisal is requested

How long does it take to complete a mortgage transaction?

If all information requested by the lender (i.e. Income verification, down payment verification and property details) is given to the broker in a timely matter than the transaction can be completed in as little as 2 weeks

Can I get pre-approved before I find the home I want to purchase?

Yes. Our lenders offer preapprovals from 60 days to 120 days. When it comes to new construction many lenders will extend that preapproval time to fit the construction schedule. This will allow you to hold a great interest rate while you shop for or build a new home.

How much can I qualify for?

Qualifying guidelines vary depending on the lenders criteria and products available. To find out exactly what you can qualify for, please submit your application for a pre-approval.

What is CMHC?

Canada Mortgage and Housing Corporation is a federally owned and operated institution that evaluates the client and property to allow the borrower to purchase a home with a lower down payment requirement. This corporation insures the mortgage on behalf of the bank, through a premium added to your mortgage. This way the banks are obligated to provide a mortgage for those with less than a 25% down payment.

Who does InvestWise work for?

We only work for you. We are not affiliated with any one single bank or lender; thus allowing us to shop around for the best mortgage rates in Canada.

What is the purpose of a mortgage broker?

We specialize in mortgages and only deal with lenders who can compete against the local branches for better rates, terms and service. Our only job is to find our clients the absolute best mortgage product to fit their needs.

How can a mortgage broker get a better rate than my own bank?

The mortgage lenders that we use do not have local branches in each city or town, they have no large overhead and are in the business of lending money for mortgages only. This, combined with their large volumes, allows them to discount the rates far better than your own bank can provide.

Are there any extra costs or hidden fees when I use a mortgage broker?

There are absolutely no hidden fees. Any costs related to an InvestWise mortgage are fully disclosed. Any costs incurred would be the same as if you went through a bank and in most cases LESS with InvestWise. We are here to earn your business today and in the future!

What if I have had poor credit or have been discharged from bankruptcy within the last 3 years? Can I still apply for a mortgage?

Yes you can! Most conventional banking institutions put restrictions on who they lend money to for a mortgage, but InvestWise has the resources to shop for financing regardless of any credit situation.

My bank turned me down, will you do the same?

Banks typically only have access to one lender (themselves). This not only means you have less options when it comes to picking a mortgage product, it also means that if that one lender turns you down, you’re out of luck. InvestWise has access to more lenders than any other broker in Canada and is able to help almost anyone acquire a mortgage.

I’m self employed—will I qualify for a mortgage?

InvestWise regularly works with self-employed individuals, including investors, and is often able to help them acquire mortgages even if they have been turned down in the past. Apply today to get started using our Secure Application.