In 99% of cases it’s completely free! Mortgage Brokers are paid a commission from the lender for facilitating the loan. In extremely rare cases a borrower will need the assistance of a private lender. In these instances a small fee would be charged to the borrower.

With a client first mentality Ron is committed to communication throughout all stages of the mortgage process. He also believes in educating clients so they fully understand the mortgage products they are receiving. This all leads to a 5-star client experience. 

In Canada the minimum down payment for a primary residence is 5%. Minimum down payments can vary depending on the borrowers employment status, credit score, and whether or not they are occupying the home. It’s important to remember that in order to avoid Mortgage Default Insurance a borrower will need to have at least a 20% down payment.

A prepayment penalty is a charge your mortgage lender may charge if you break any terms of your mortgage commitment. The penalty typically comes in two forms. A three-month interest penalty or an Interest Rate Differential penalty.