Residential Mortgage
Simple Solutions at Great Rates!
Want to get a residential mortgage to buy your dream home? You need financing and would like to know the best mortgage solutions available to you? Want to be advised by an experienced mortgage broker? The Phenix Team at Mortgage Architects is at your service! We offer you excellent rates and personalized support, from the preparation of pre-authorization documents to your move to your new property!
Find the Lowest Mortgage Rate Book an Appointment Now
Call us today and get the best rate guaranteed. Contacting one of our broker is like meeting with over 20 financial institutions. Our Mortgage Broker will advise you in the steps leading to obtaining mortgage financing at the best rate.
Find the Right Residential Mortgage for You
We Offer Comprehensive Services, Advising You the Best On:
- Making a purchase
- Purchase-renovation
- Renewal
- Residential mortgage refinancing
- Transfer of residential mortgage
- Line of credit
Discover Current Rates
Want to know more about the Team Phenix at Mortgage Architects? Discover our values and what makes us a trusted partner for many homeowners and investors.
Residential Mortgage
Where to Start?
Meet a Broker for Free
Call us for pre-authorization and a free meeting. You will know in advance what are the terms and conditions for your residential mortgage while getting the best rate for it. You will have an excellent idea of the amount you will be given. You will be able to shop your future home stress free.
Be Aware of the Steps to Follow
Once pre-qualified for the mortgage of your chosen future home, we will guide you through the steps to be taken. You will receive all the necessary information to buy your home and we will offer you excellent rates and ideal conditions for your file.
Move to Your New Home
Once the notary deed is signed, you will officially own your home! All you have to do is move into your property and settle down in peace. And since we are interested in being there for our customers on the long ride, we will be available for inquiries or future residential mortgage applications.
You've got a lot on your mind, but we're here to help
Introduction of the 5 important steps to find the right mortgage
If you're thinking about making a move in the near future, here are 5 important steps to help make sure it goes smoothly:
1) Talk to us. We can help answer any questions you have about your particular scenario, including any pre-payment penalties involved, down payment options, and possible closing costs and bridge financing. We'll outline the options so that your decisions are clearer.
2) Get pre-approved for your mortgage amount! Your fast pre-approval will allow you to find the home that fits your budget, plus you can hold your best rate for up to 120 days. Apply now!
3) Go home shopping! Bring your conditional offer details back to your phenix broker, who will finalize your full mortgage approval with your best-possible rate and outline your closing costs. Here's a handy checklist of the docs you'll need to provide for lender approval.
4) Close the deal! Once you have full mortgage approval from us, we stick with you right through closing day—handling all paperwork until the mortgage is advanced (in coordination with your real estate agent and solicitor).
A Buyer's Guide for Homeowners in Canada
Tips For First Time Home Buyers in Canada
How Much Mortgage Down Payment Do I Need?
When you're buying your first home, you'll need to put down a down payment of at least 5% of the purchase price. This is a standard for mortgage loans in Canada.
But when you're buying your second home, it's not always so easy to know how much down payment you need. That's because there are different types of second-home mortgages and each one will have different requirements for down payments.
For example, if you're using equity gained from your existing home, or from the sale of said home — which could help increase the down payment amount towards your next home purchase — then you may be able to place as little as 5% down on your next-home purchase.
Or maybe your next-home still requires other down payment sources, such as from personal savings or through a monetary gift. Depending on the next-home price, this could mean that you can place as little as 5% down on your next-home purchase (and therefore require mortgage default insurance).
