Get your best mortgage here.
Marcelo Gomez Naranjo
Many find mortgage financing confusing, but it doesn't have to be that way. My knowledge and experience, combined with friendly and attentive service, will give you the information and education you need to make an informed decision.
When it comes to mortgages, choice is everything! With my access to over 50 lenders like major banks, national, regional, and private lenders, you can be sure you are getting the best rate and mortgage for your situation.
You have come to the right place for your purchase, refinance or renewal. I have many specialties including self-employed mortgages, new to Canada, property investing, vacation homes, renovations, retirement cash flow, and credit repair.
I'll be with you every step of the way, even after your mortgage closes, providing tips and strategies to help you build long-term wealth. That's why my business is built primarily from client referrals. I look forward to earning your trust, and delivering a comfortable and successful mortgage experience!
7 reasons to use a Mortgage Broker over your BankCheck it out
First-time home buyer
Here’s to buying like a pro the first time!
Buying your first home is one of the most important financial decisions you’ll ever make and getting the right advice from a mortgage professional is a great way to start.
Before you start looking for your dream home, your Mortgage Intelligence professional can help you find out how much you can qualify for so you can shop with confidence. They’ll explain the process and even assist in getting you a mortgage pre-approval so you can take advantage of today’s low rate environment by locking in today’s rate for you for a set period of time, typically 90 to 120 days.
Understanding your down-payment options is important as you get ready to buy your first home. This is right time to consult with your mortgage professional who can explain the requirements and options available to first-time buyer only when it comes to down-payment. Generally, the min down-payment required depends on the purchase price with the min being 5% down. For homes $500,000 and under 5% down is the min required. For homes over $500,000 but less than $1 million, you need 5% down-payment on the first $500,000 and 10% for any amount over that. If your purchase price is $1 million or more, a minimum 20% down-payment is required. Mortgages with less than 20% down are subject to default insurance which is usually added to the mortgage amount.
At Mortgage Intelligence, we work with over 60 lenders from major banks to private lenders. Your mortgage professional gives you access to multiple lenders and finds the right mortgage for you with only one application. They help you navigate the process, explain your options and present you with mortgage solutions that best meet your need. Having the right combination of mortgage features, privileges and rate is key. The right mortgage goes beyond just the rate--it's important to also consider term, prepayment options, refinancing penalties, restrictions, and fees.
Your mortgage professional will not only find the right mortgage for you but also provide strategies to help you pay your mortgage off faster and shave thousands off interest costs in the process.
New To Canada
If you’re new to Canada and looking to buy a home of your own, we are here to help get you there sooner!
As you transition from renter to owner, seeking the advice of a mortgage professional is a smart move that can help make the transition easier. Your Mortgage Intelligence professional will help streamline the mortgage process for you, explain the requirements and present you with the options available to you. If you have any questions, your mortgage professionals is there for you every step of the way.
Generally, the most important factors for new to Canada financing are credit history, and down-payment.
It is a good idea to start establishing credit in Canada as soon as you can. Not everyone may be where they need to be when they first meet with a Mortgage professional. Your Mortgage professional can take the time to coach you on what you can do to help build your credit. If you do not have established credit, they can show you have built credit by providing specific supporting documentation such as a credit report from your country of origin, proof of rental payments, proof of utilities payments, proof of income and others. In terms of the down-payment, a five percent of the purchase price is the minimum although a larger down payment may be required. If you are a non-resident, a 10% down-payment be be required. It is also important to remember that homes over $500,000 require 10% for every dollar between $500,000 and $999,999. Any mortgage over 1 million dollars will require 20% down payment.
Mortgage professionals also work with a large range of lenders and products, which makes them more likely to be able to find the right solution for your situation.
You can rely on your mortgage professional to help outline all the requirements and advise you on the paperwork you need to assemble to apply for a mortgage. Call for a consultation or to get the process started.
With the ever-changing market and a stricter stress test, many Canadians are finding it harder to qualify for a mortgage through traditional financial institutions “A-Lenders” and are turning to alternative lending solutions for their mortgage. At Mortgage Intelligence we work with many alternative lenders, who can offer excellent mortgage options with more flexible criteria and more lenient qualification requirements.
Alternative lenders are great for individuals who have non-traditional forms of income for example, capital gains, room rental income, child tax benefits and others or for self employed applicants who may not have the minimum required number of years being self employed.
These lending solutions are also a good option for those with lower credit scores. While the rate they offer is slightly higher than what you will see posted by an A-Lender, they are nothing out of the ordinary when compared to traditional rates posted in Canada. They also generally have shorter terms, meaning that you can get into the home of your dreams while being able to rebuild your credit at the same time.
Buyers who don’t qualify under the mortgage stress test can also take advantage of the expanded debt service ratios allowed by alternative lenders to qualify for a mortgage and get into the home of their dreams. If you have a very unique situation, we also have access to various private lenders who are even more flexible and lenient in requirements and may be able to offer you mortgage options that fit your situation. In today’s environment, we’re seeing more private lenders helping Canadians with their mortgages.
Call your Mortgage Intelligence professional to find out about the different options available to you. They are experts when it comes to mortgage products and different solutions and will provide you with unbiased advice. They work for you, not the lender.