FIRST CHOICE MORTGAGE SERVICES
Professional Team, Honest Service
Residential
Purchases
- Mortgages and secured lines of credit for both single family homes or investment properties
- Second homes for family or student use
- New construction pre-sale purchases
- Construction mortgages
- Recreational homes
- Acreages
Home Equity
Lines of Credit
- Available for purchases and refinances
- Interest only payments
Refinances
- Renovations
- Debt consolidations
- Equity take-outs for investment purposes or to purchase additional real estate
Pre-Approval
Service
- If you are considering purchasing a new home, we can provide peace of mind by having your application preapproved for mortgage financing
Commercial
Loan
- First Choice Mortgage has a number of lender suppliers to satisfy your retail, industrial and office property financing needs
- Unique suppliers for non-traditional properties
Private Mortgage
Financing
- First Choice Mortgage is able to access private funds when the banks and traditional lenders are unable to satisfy your financing requirements
Bridge Loans
- Mortgages and secured lines of credit for both single family homes or investment properties
- Second homes for family or student use
- New construction pre-sale purchases
- Construction mortgages
Specialized
Products
- Tax deductible mortgages
- Reverse mortgages
- Purchase plus improvements
01
Professional Consultation
To begin the loan process with First Choice Mortgage, we first schedule a consultation to discuss your current and future loan needs. This initial assessment is a great help to us in understanding your goals and which financial services will be the best vehicle to help you achieve them.
Armed with the information provided in the consultation process, First Choice Mortgage will then collect the basic documents we require from you to begin preparing your loan application. Among the documents we will need are your personal information (identification, proof of employment, proof of income, pay stubs, proof of tax returns, bank transactions, bank statements, etc), your financial history, your loan expectations, and any other relevant information.
For home purchases, First Choice Mortgage has the ability to pre-approve your mortgage financing application. We guarantee the best available rate on the date of application, allowing you to lock in your pricing before you commit to buying a home.
02
Loan Amount Calculation
When all of the appropriate documentation is in place, we then begin the process of researching the best loan options to meet your needs, taking into account your budget and requirements.
When all of the key details have been submitted to First Choice Mortgage, we are then able to assess what your monthly payments may be. These estimates are based on such important factors as amortization, repayment frequency, and the desired mortgage amount.
Once you have found your ideal home, First Choice Mortgage will guide you through the critical steps to set up a sale and purchase agreement. This agreement is designed to protect your rights. Upon completion of this important document, we will then apply for a loan with the bank offering you the best rates.
03
Professional Advice
Whether you are seeking a residential or commercial loan from one of Canada's four major banks or simply a personal loan, we have the right solution for you.
When it comes to loans, a customized approach is best. There is no such thing as one size fits all when it comes to your financing needs. First Choice Mortgage begins by determining the best options for you to help you find the ideal solution to help you achieve your goals. We are able to compare between the best available loans from each of the major Canadian lenders to ensure you get the loan that is right for you.
If any of your personal information changes during the loan application process, please inform the First Choice Mortgage team as soon as possible, so we can keep your file current.
04
Execution
First Choice Mortgage believes planning and preparedness are two of most important components of a successful loan application. To assist with this, we carefully prepare each aspect of your loan documentation and provide you with realistic financial calculations to help you best understand what you can expect from your loan. This emphasis on accuracy and efficiency ensures you receive approval as quickly as possible to help you get started with achieving your desired outcomes.
There are many aspects of a loan contract that must be carefully outlined in order to be approved for a loan from one of Canada’s four main lending agencies. Two of the key pieces that must be in place prior to submitting any application for a loan is how much the loan will be for and what type and amount of interest rate is desired.
Among the factors the First Choice Mortgage team negotiates for you are:
- Whether you most benefit from a variable or fixed interest rate
- Whether your loan should be open or closed
- What the term/length of the loan will be
- Whether the loan amortization will be 25 or 30 years
- Whether there are any privileges for prepayment
- Whether a percentage of the loan can be increased or paid in advance of scheduled payments
- What penalties may be incurred and how that amount is calculated
- Who is responsible for real estate tax
- Whether existing loans can be combined for better rates or increased credit
First Choice Mortgage is your intermediary, working on your behalf with the major Canadian lending institutions to help you secure your ideal loan in the simplest and most beneficial terms.