Must have at least 5% down of purchase price - a limited number of
programs still offer 100% financing.
First time home buyers may be eligible to use their RRSP’s for a down
Mortgage Payment + taxes + heating costs* < 32% of gross monthly
Monthly debt including Mortgage payment < 42% of gross monthly income.
You must be able to pay closing costs of at least 1.5% of purchase price.
Lenders will obtain a credit report which identifies your overall credit standing
5. Shopping for Your New Home
With your mortgage amount Pre-Approved,
you and your realtor are able to shop
for the home that best suits your needs.
6. Preparing an Offer
Your Offer or Agreement Will Include:
Your legal name.
Name of vendor.
Legal and civic address of property.
It is recommended using a qualified Realtor and/or seeking the advice of a
lawyer before finalizing.
7. Mortgage Application
An Invis Mortgage Consultant will help you:
understand your mortgage options
identify documents required for speedy application approval, ie: employment
and down payment verification, survey certificate and appraisals
8. Mortgage Application
• Repay the loan without penalty.
• Interest rates can be higher.
• This may be a good choice if a client is planning on selling their home in
the near future.
• Lenders will usually allow conversion to a closed mortgage at any time.
9. Mortgage Application
• Offers terms from 1-10 years fixed rates
• There are often penalties or restrictive conditions for prepayments or
additional lump sum payments.
• May not be the best choice if you might move before the end of the
10. Mortgage Application
Variable Rate Mortgage
• Variable/Adjustable interest rate tied to prime
• Generally convertible to a fixed rate mortgage. At times a penalty may
• Most Variable Rate Mortgages are for 3 or 5 year terms
12. Mortgage Application
Bruised credit? There are options for you.
• Financing through “B” lenders with varying mortgage programs.
• Private Lenders available for unique situations.
• Up to 100% financing.
• No income verification products.
13. Associated Costs
Some common costs of buying a home:
• Appraisal fee
• Land transfer tax or PPT
• Survey / title insurance
• Legal fees
• Home inspection
• Property taxes
• Fire insurance
14. What a Lender Wants:
• Age, marital status, birthdates, dependents
Details of Employment
• Proof of Income
• Notice of Assessments
• Letter from employer
• Other sources of income
• Rental income
• Investment income
15. What a Lender Wants:
Current banking information
• Name of Financial Institution.
• Average cash balance of account(s).
Verification of down payment
• 3 months of bank statements showing account holder name and account
Consent to complete credit investigation (Invis Client Agreement)
16. What a Lender Wants:
Assets & Liabilities
• Investment Account Balances
Credit Card Balances
Total amount owing &
monthly payment amounts
17. What a Lender Wants:
A copy of the property listing
A copy of the Agreement of Purchase & Sale for a resale home
Appraisal of property
Plans and cost estimates on a new home
Condo financial statements, if applicable and strata minutes included
A certificate for well and septic, if applicable
18. Subject Removal & Legal Process
Once all conditions have been met and the subjects
removed the lender will forward all documents to the
lawyers where the mortgage and title transfers are
19. Working With an
Invis Mortgage Consultant
We act as liaison between the lender and the borrower.
At Invis we are independent, which means we offer unbiased advice and
have the client’s best interests in mind.
Our primary role is to determine the financial needs of our client and find the
mortgage products that best fulfills their needs.
20. An Invis Mortgage Consultant
has your best interest in mind
We simplify the process of mortgage financing.
We negotiate with lenders for the best possible products and lowest rates.
We help you achieve your goals of home ownership.
We have the experience and the expertise to work on your behalf.
We know what mortgage products are available in the market.
21. About Invis
Founded in 2000, Invis is one of Canada’s largest mortgage brokerage
firms, with offices from coast to coast.
We leverage our buying power to get the best service and terms for our
We save clients valuable time and possibly thousands of dollars when it
comes to home financing.
22. Our Strengths & Specialties
Provide maximum flexibility in financing choices.
Provide counseling on credit & qualifications.
Arrange & coordinate the mortgage closing.
Assist with purchase, renewal, construction & renovation financing.
Provide efficient & highly personalized service.
For most clients there is no fee for our services – the lender pays
for our fees.
A fee may apply when working with a client with bruised or poor
24. Whether You Are:
Buying a home?
Purchasing an investment property?
Renewing your current mortgage?
Contact: Sherwin Dziwenka at 403-828-7162