Mortgage Centre

The Mortgage Centre Advantage | Customer Testimonials | Mortgage Basics | The Mortgage Centre History

The Mortgage Centre Advantage

Choice:

We are able to offer a diverse range of products, including but not limited to the following:

• First and second mortgages
• Investment property financing
• Lines of credit
• Equity take outs
• Self-employed, no income qualification mortgages
• Pre-approvals

We deal with over 30 banks, financial institutions, and private lending sources to find you the best rates and terms based upon your financial situation.

Convenience:

We do the work. We package your application, contact the head offices to explain your situation and sell your application to the bank. We bypass the local branches and deal directly with the person that makes the decisions about the customer.
You can reach us, talk to a live person, and we can be available to you even outside of traditional "banking hours".

Expertise:

We will save you thousands. We get you the best interest rate and we also connect you to the right bank that will offer you the best terms for your situation.

We will arrange financing for residential and commercial first and second mortgages.

Volume:

The Mortgage Centre is the largest super-brokerage in Canada which allows us to be able to offer the lowest available rates. Lenders offer discounts on rates to brokers who they have a strong relationship with and who do a lot of mortgage volume with them.

Customer Testimonials

I was a full time student, worked for an employer part-time and had my own business on the side.  My wife had two part-time jobs and was 6 months pregnant.  Our goal was to keep our condo for a rental property and buy a house to make room for our growing family.  

Through strategic financing, Luke came up with a creative solution that allowed us to fulfill every one of our goals.  We can’t say enough about his professionalism and determination, and highly recommend Luke to anyone who needs a finance expert.

-Cameron Haley

It was a great experience of working with you to get our new mortgage so quickly and competitively. You were able to get things done in a very short period. Also, we appreciated your prompt feed backs whenever we raised our concerns. We do not hesitate to recommend your service to anybody who is shopping for mortgages.

-Ranjith and Susila Jayawardene

Our transaction with Luke couldn't have gone smoother!

-Chad and Natasha Martin

Mortgage Basics

Interested in Canada mortgages / Calgary mortgages? What You Should Know!

Are you feeling overwhelmed by the different choices available in the mortgage market today?  Or, do you need more information on the recent changes made by the Canadian Federal Government?  I am here to help.  As mortgage professional I make it my business to stay up to date with all industry developments and programs that could affect my clients.  At any point in your mortgage term I would be happy to do a no obligation review to make sure that your mortgage is still working for you.   Here is an overview that should help you to choose the right mortgage product.  For Calgary mortgages / Canada mortgages.

Fixed Rate Mortgages 

The primary advantage of fixed rate mortgages is that the interest rate is set for the whole term of the mortgage. A fixed rate mortgage offers you the protection of knowing exactly how much principle and interest you will be paying on your mortgage during the term you selected. If you think interest rates will rise, you may want to lock into a longer term fixed rate mortgage but if you think that the rates may fall, a shorter term may be the best choice for you.

Keep in mind that with a fixed rate mortgage you are locked in for the selected term, and that you may incur a penalty to break your mortgage.

If you are considering a fixed rate mortgage keep the following options in mind to help to reduce your mortgage faster.

Choose a lender who offers you the flexibility to:

• Change your payment frequency
• Increase your monthly payments
• Make lump sum payments at no additional charge 

These options will help you to pay down your mortgage faster and are called pre-payment privileges.
Most of the lenders we deal with, offer the above options, let us help you choose the best package for your needs.

Variable Rate Mortgages

Depending on the level of risk you are willing to take, a variable rate mortgage can save you money while keeping your options open during times of fluctuating interest rates.

With variable rate mortgages, your mortgage payment could increase or decrease depending on fluctuations in the Prime rate. With most variable rate products you can lock in at our discounted rate (not bank posted rates) anytime during your term.  Variable rate mortgages are recommended for those that have room in their monthly budget to handle an increase in the Prime lending rate.

Cash Back Mortgages

With a cash back mortgage the lenders are basically lending you money up front.  They charge a higher interest rate and will require that you pay it back if you payout the mortgage early.  The cash can be used for purposes other than down payment.

These mortgages can come in handy for those who are having difficulty saving the required 5% for a down payment.  The criteria for cash back mortgages is very strick, you must have good credit and job stability to qualify.  They will also require that you have additional funds on hand for closing costs usually 1.5% of the purchase price.

Flex Down

A flex down mortgage allows for 100% financing by borrowing down payment from another credit source or unconventional source of down payment. The insurer will charge an extra premium but this allows for best rates and terms, whereas a cash back mortgage does not.

Equity Mortgages

A mortgage based on the amount of equity in your home. Usually up to 75% (in some cases only 65%) of the value of your property and most suited for those people who do not qualify for a traditional bank mortgage for credit or income verification reasons. 

Credit

If you have good credit you will typically qualify for a fully discounted interest rate.  If you have some credit issues the lender may charge you a higher interest rate to mitigate their risk. However, one of my greatest strengths is that ability to negotiate rate decreases even with damaged credit.

Please contact me for further details on specific mortgage products.

The Mortgage Centre History

Coming Soon!