Bank Rates	Term	OUR RATES
2.55 %	Variable Rate	2.20 %
3.75 %	1 Year Closed	2.75 %
3.90 %	2 Year Closed	2.90 %
4.45 %	3 year closed	3.39 %
5.55 %	5 year closed	3.89 %
12.20 %	15 year closed	9.25 %

* Note: Rates are subject to change without notice. Please contact us for more information.

Home Buyers

Buying a first home is a very exciting time. If you've never had a mortgage before, we can help. Our team of mortgage brokers and specialists are more than happy to answer any questions you may have. All of our consultations are free and you will never have to pay us. Our commitment is to find you the best mortgages Canada has to offer.

First-time Mortgage FAQ's

To avoid adding unwanted stress in obtaining your very first mortgage, read the following frequently asked questions. This valuable information will not only answer some question you may have about mortgage brokers, but may also make your first home purchase a money-saving experience. For more information, be sure to read the homebuyers checklist.

What is required to obtain a first mortgage?

In most cases:
• Full-time employment or stable income
• Proof of income
• Good credit rating
• Verifiable down-payment
• Filling out a Mortgage Pre-Approval Application

What can I use for a down payment?

In most cases:
• Registered Retirement Savings Plan
• RRSP's may be used 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

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 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 in 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.

Please feel free to contact us to discuss anyother questions you may have.

* Mortgage interest rates are subject to change without notice at any time.
** Our mortgages are only available to Canadian residents or foreigners purchasing property located in Canada.

Super Choice Can Arrange Mortgages In These Area's And More - Ajax - Barrie - Belleville - Brampton - Brantford - Burlington - Calgary - Cambridge - Chatham - Kent - Edmonton - Guelph - Hamilton - Ingersoll - Kingston - Listowel - London - Markham - Mississauga - Newmarket - Niagara Falls - Norfolk - North Bay - Oakville - Orillia - Oshawa - Ottawa - Owen Sound - Peterborough - Pickering - Richmond Hill - Sarnia - Sault Ste. Marie - Scarborough - South Western Ontario - St.Catharines - St. Thomas - Stratford - Strathroy - Sudbury - Thunder Bay - Tillsonburg - Toronto - Vancouver - Vaughan - Waterloo - Whitby - Windsor - Woodstock

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Although every attempt is made to ensure accuracy of our website, the above mortgage information should only be used as a guideline. Super Choice always recommends that you consult a mortgage broker before making a decision. If you have questions or comments about our website, security practices or policies, please call our technical support line at 1-800-850-6024. For any mortgage related questions or to speak to one of our mortgage specialists, please call 1-800-850-6024.