Buying your first home is an exciting experience, but it can also come along with uncertainty if you are unprepared. Smart preparation will give you the confidence you need to enjoy the process of owning your first home.

Collecting the information, tools and resources you need

Our agents are equipped with all the best knowledge, resources and tools needed to make purchasing your first home a pleasant and successful experience. The right mortgage is a critical factor in determining long-term savings.
Our agents objectively work for you by sourcing the most compatible mortgage from different lenders. We are always available to talk with you about interest rate, payment privileges, payment penalties, long term savings and other options that are favorable to you. With the help of one of our mortgage agents you can choose the mortgage that is right for your financial goals.

Through our extensive network you have access to a large group of products and expert advice at no cost. The lender pays compensation for our services after your mortgage has closed.

When working with one of our mortgage agents, you can feel confident knowing that we won’t leave you alone to find a mortgage that’s right for you. We’re on your side every step of the way.
Good to know: Government programs are in place to help with one’s first venture into the housing market. Some of these programs provide some financial relief in the form of rebates and tax refunds. Talk to one of our agents to take advantage of options that are right for you.

When you are pre-approved, you're beginning the application process for obtaining a mortgage. To provide you with a pre-approval, a lender reviews your income, the source of your down payment, your assets and liabilities, and inspects your credit report to determine your credit worthiness. You may be asked a few questions throughout the mortgage pre-approval process, such as; what current assets or savings do you have? What current liabilities do you have?
Be prepared to answer specific questions relating to the property you wish to secure the mortgage for.
Example questions to consider:

• How much are the annual property taxes and heating costs?
• If the property is a condominium, what are the monthly condominium fees?
• What is the total square footage of your home or land?

One of our mortgage agents can be your best asset throughout the mortgage pre-approval process. Contact us today!

Sometimes self-employed individuals have a hard time securing a mortgage on their own. A Tommy Vrazalis agent can help. You’re not alone. Tap into the expertise of our experienced mortgage agents and find out how you can secure a mortgage as a self-employed person!
Some implications self-employed persons may need to consider when wanting to secure a mortgage:

• A self-employed person is likely to be considered higher risk due to the nature of self-employment. Lenders often view income backed by an employer to be steadier and therefore less risky.
• May have to pay more interest, even if they have a good credit score
• Many lenders will require a minimum down payment as high as 20 to 30 percent of the total purchase price; higher than the average 20 percent (or less) that is required of a regularly employed applicant with decent credit.

Tommy Vrazalis can help you find options that are unique for your situation.

Tommy Vrazalis has access to multiple lenders, allowing you to get the best options and prices for your mortgage. They work independently, on your behalf, to search out the best lenders who understand and specialize in self-employed mortgages. These mortgages offer favourable terms suitable to your situation.

With careful planning and with the consultation from a professional mortgage agent, you can overcome the challenges of obtaining a mortgage successfully.
We’re on your side every step of the way.

What happens if your bank did not qualify you for a mortgage loan?

• Clean up your credit: Your credit rating is the most crucial factor when being considered for a mortgage approval.
• Look at your credit report: You need to look at your credit report so you can see what is affecting your credit rating.
• Dispute any incorrect negative information: File a dispute directly with the reporting agencies if there is any negative information on your credit report that should not be there.
• Get a credit card: No matter what type of lender you are dealing with, they are more likely to supply a loan if they see that someone else is willing to lend you money. That is why it is important to have a credit card. Do not worry if you have had trouble getting a credit card in the past. You can always get a secured credit card, which works more like a bank account than a credit card.
• Request increases on all your credit cards: The more lenders are willing to give you, the more positively your credit cards will reflect on your score.
• Lower your debt: Although it's important that your credit report reflects that lenders are willing to lend you money, being burdened by too much debt will lower your credit score. This is due to the fact that mortgage lenders want to make sure that you will be able to afford to pay your new bill. If possible, lower your debts to less than half of your pre-tax monthly income; this shows that you have plenty of extra space to fit a mortgage.
• Get a down payment together: Although, in rare cases it is possible to obtain a mortgage without any down payment, you shouldn't count on it. When thinking about how to qualify for a mortgage, it is important that you understand that a lender is much more likely to say 'yes' if you have a down payment ready - the more you put down, the better. This is because the availability of a down payment shows both a financial commitment and it lowers the amount of the loan.
• Get help from a mortgage broker use Tommy Vrazalis: It’s our job to get you a mortgage. What’s more, we are industry experts who know additional tricks to help get you approved. Contact us today to explore your mortgage options with the help of a professional.