Mortgage broker in Toronto
As an independent mortgage broker, I help Toronto buyers and homeowners find financing that fits their real situation. I am not tied to one bank. I compare many lenders, from the major banks to monoline lenders and credit unions, so you can see more than a single institution's answer.
Whether you are buying a downtown condo, moving up to a house in midtown, renewing, refinancing or adding a rental property to your portfolio, I explain the options in plain language and handle the paperwork with the lender on your behalf.
The Toronto housing market and your mortgage
Toronto is a city of very different property types, and lenders treat them differently. A condominium in a downtown tower is reviewed in part on the strength of the building itself: its reserve fund, its status certificate, the mix of owner-occupied and rented units, and any pending special assessments. A freehold house is looked at more on the land, the condition of the home and the neighbourhood comparables that an appraiser relies on.
Because purchase prices in the city are high relative to many Canadian markets, the size of your down payment, your debt load and the stress test that applies to most federally regulated lenders all matter a great deal. Two buyers who look similar on paper can end up with very different borrowing capacity depending on how their income is documented, how long they have been in their job or business, and what other payments appear on their credit file.
Older properties, heritage districts and unusual layouts, such as lofts, laneway suites or homes with a rooming-house history, can also raise questions at appraisal. I look at these details early so that surprises are less likely to appear after you have made an offer. Any approval is subject to the lender's review of your finances and the property.
Neighbourhoods and property types I finance in Toronto
- Downtown core and CityPlace: high-rise condos, popular with first-time buyers and investors.
- Liberty Village and King West: converted lofts and newer towers close to the GO and streetcar lines.
- Yorkville and The Annex: condos, townhouses and older detached homes near the University of Toronto.
- Leslieville and Riverdale: semis and detached homes, many with renovations or basement apartments.
- The Beaches: detached and semi-detached homes close to the lake and the streetcar.
- Midtown, Davisville and Leaside: family homes and mid-rise condos along the Yonge subway line.
- Forest Hill and Cabbagetown: larger, older and heritage-style homes that may need a closer appraisal review.
- The Danforth and East York: row houses, semis and small multi-unit properties along the Bloor-Danforth line.
Mortgage help for Toronto homeowners and buyers
- First-time home buyer mortgages for condo and house purchases
- Mortgage pre-approval before you start viewing homes
- Mortgage renewal and refinance options at the end of your term
- Self-employed mortgages for business owners and contractors
- Rental property mortgages for investors and landlords
- Newcomer mortgages for people who have recently arrived in Canada
- Home equity line of credit for renovations and flexible borrowing
- Bridge financing when you are buying before you sell
Costs to plan for when you buy or borrow in Toronto
Toronto is the one municipality in Ontario where buyers pay two land transfer taxes: the provincial Ontario land transfer tax and a separate municipal land transfer tax charged by the City of Toronto. Both are generally due on closing. Rebates may apply for eligible first-time buyers on one or both, and your lawyer can confirm what applies to your purchase.
Beyond the tax, plan for legal fees and disbursements, an appraisal if the lender requires one, title insurance, a home inspection for houses, and adjustments for property tax and utilities. If you are buying a condo, remember the monthly condo fees, which lenders include when they calculate how much you can borrow, and ask whether the building has any planned special assessments.
If your file needs a private or alternative lender, expect lender fees and, in some cases, a broker fee. I disclose these up front and in writing so that you can compare the true cost against a conventional option before you commit.
How it works with me
- Step 1: We talk about your goals, income, down payment and timeline in a free, no-obligation conversation.
- Step 2: I gather your documents and compare suitable lenders and products for your situation.
- Step 3: I submit your application, explain each offer and help you choose, subject to lender approval.
- Step 4: I stay in touch through your lawyer, appraisal and closing, and again before your renewal.
Nearby areas I also serve
My services extend across the whole GTA, including North York, Scarborough, Etobicoke, Mississauga and Pickering. You can also see the lenders we work with.
Talk to a Toronto mortgage broker
If you are planning a purchase, a renewal or a refinance in Toronto, I would be glad to hear from you. Reach out for a free, no-obligation conversation and we can look at your options together.