Canada's Lowest Mortgage Rates

Work with Roland Kym and you can receive these mortgage rates, only certain Sutton Realtors can provide Canada's Lowest Mortgage Rates!

Tips on Applying for a Mortgage in Today's Market

In today's market banks are taking a more cautious approach with qualifying consumers for mortgages.

Before starting your search for the perfect mortgage be prepared so you can negotiate the best rate.

Simple Tips for Shopping for a Mortgage:


1. Employment Verification: Have your job letter and pay stub handy - no paystub how about a T4. If you are self employed obtain 2 - 3 years of your tax returns (Notice of Assessments). Can't find them - you can contact Revenue Canada to reprint and mail you a copy.

2. Downpayment Verification: Many banks today want to ensure your downpayment is obtained through savings, and not being borrowed from a line of credit or cash advance from a credit card. Copies of your passbooks, bank statements, RRSPs, GIC's etc in advance are extremely helpful. The majority of lenders will be looking for a minimum of 5% downpayment plus evidence that you have a sufficient funds for closing costs. (lawyers fees, land transfer tax)

3. Credit: Credit Score is key. If you are not sure of your credit score - you can apply on-line with www.equifax.ca to review your personal file. Read our little blog on how to analyse your credit score below.


Tips for Refinancing Your Mortgage

If you are currently locked into a long term mortgage at a higher rate we suggest calling your existing Bank first to review any discharge fees. Many consumers believe to break a long term mortgage only costs about 3 months interest penalty. But, read the fine print and you might notice - it is 3 months interest penalty or the "differential" whichever is higher.

It might be wise, before considering switching mortgages confirm your discharge penalty. In many cases the cost to break a mortgage might outway the savings of a lower rate.

If your mortgage is coming up for renewal - we suggest shopping around 90 days prior to your renewal.

May we also suggest the same tips in preparing to shop as above - Tips for Shopping for a Mortgage.

At's all about being prepared to help you Save as much Money as possible on your Mortgage Rate.