Financial Consumer Agency Of Canada

Bad Credit / Bankruptcy

Unfortunate situations can negatively impact your overall credit rating. At Mortgage Brokers Ottawa, we are aligned with lenders who will consider your mortgage application even after a consumer proposal/bankruptcy.

Control Your Credit Rating

Your credit history is based on information sent to the two major credit reporting agencies in Canada; Equifax & TransUnion, from companies who have extended credit to you.

Different Types of Mortgages

There are many different types of mortgages available. Find out more about which mortgage option may be best suited for you.

Mortgage Terms Glossary

We\'ve put together a list of common mortgage and home buying terms to help you better understand the process of buying a home.



Identity Theft / Mortgage Fraud

What is mortgage fraud and how can you protect yourself? Find out more about how mortgage fraud can impact you.

Land Transfer Tax

When you buy land or an interest in land in Ontario, you pay land transfer tax. First-time homebuyers of an eligible home may be eligible for a refund of all, or part of the tax.


Mortgage Default Insurance
(CMHC)

Mortgage default insurance, typically referred to as 'CMHC', is required when homebuyers make a down payment of less than 20% of the purchase price.

New To Canada

Qualified homebuyers who have immigrated or relocated to Canada within the last 5 years are eligible for a New to Canada program to purchase a property with as little as a 5% down payment.

Mortgage Payment Options

Mortgages come with multiple types of payment options, some of which can save you a significant amount of interest over the term of your mortgage and help you pay your mortgage off faster.

Prepayment Privileges & Prepayment Penalties

Understanding how your mortgage penalty is calculated and how your prepayment privileges work are two important features when it comes to selecting the right mortgage product.

Which Professionals Should You Call On

You will definitely want a team of professionals working with you throughout the biggest investment you will ever make. Let a Mortgage Brokers Ottawa trusted Mortgage Broker lead the way.

Purchase Plus Improvements

The Purchase Plus Improvements program allows homebuyers to purchase a property and include the cost of the improvements in their mortgage financing.



RRSP Home Buyers Plan

The RRSP Home Buyer's Plan is a federally instituted government program that allows you to withdraw up to $35,000 from your RRSP to buy or build a qualifying home.



Standard Charges vs Collateral Charges

A mortgage charge is the legal instrument that is used to register the mortgage terms with the Provincial Government to legally record the encumbrance on your property.


Mortgage Switch Or Renewal

At Mortgage Brokers Ottawa, we will notify you that your mortgage is coming up for renewal. At that time, we can look at your current situation and what you need from your mortgage.


Closing Costs & Up Front Costs

There are multiple costs that you can expect to pay when purchasing a home, including legal fees, appraisal costs and land transfer tax to name a few. Homebuyers and existing homeowners should properly budget for these costs.

Fixed vs. Variable

Deciding which mortgage product is best for you largely depend on multiple factors. At Mortgage Brokers Ottawa, we can assess your situation and explain to you whether a fixed or variable rate would be more suited towards your current situation and future goals.



What steps are involved

Mortgages can be complicated. Let Mortgage Brokers Ottawa walk you through the process and ensure you have a smooth experience. We'll help you starting from the pre-approval process, all the way until you receive the keys to your new home!

Why Refinance A Mortgage?

The three most common ways of using your home equity to get extra financing before the end of your current term are; Refinancing, Obtaining a Home Equity Line of Credit and a Second Mortgage. Mortgage Brokers Ottawa will assess your situation to determine which of these three would be more beneficial for you.

What Will I Need For My Mortgage Application

There are a number of items we will need to provide to the lender as part of your approval. Here are the most common requirements.
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Our Best Rates

Our Rates

TermBank RateOur Rate
6 Month7.25%6.44%
1 Year Closed7.09%6.24%
2 Year Closed6.59%5.94%
3 Year Closed6.44%5.49%
4 Year Closed6.34%5.34%
5 Year Closed6.34%5.29%
7 Year Closed7.00%5.74%
10 Year Closed7.49%5.94%
VRM Closed7.15%6.65%
Line of Credit7.70%7.45%
*Rates subject to change
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