Questions, answered clearly.

A mortgage broker reviews your goals and financial profile, explains available mortgage options, and submits your application to suitable lenders. The objective is to help you understand the process and identify a financing route that fits your circumstances.

Requirements vary by mortgage type and lender, but commonly requested items include identification, proof of income, tax documents, bank statements, property information, mortgage statements, and documents showing the source of your down payment. Each service page on this site lists the documents that may apply.

A formal credit inquiry may affect your credit file, while an initial conversation usually does not. Before authorizing any credit check, ask what type of inquiry will be completed and how your application will be handled.

Pre-qualification is an early estimate based on the information available at that time. A mortgage approval is more detailed and may require document verification, a credit review, property details, and lender conditions before funding.

The amount depends on the property, mortgage product, purchase price, occupancy type, and lender requirements. Your available funds, source of down payment, and closing costs should be reviewed together before you make a commitment.

Yes. Self-employed applicants may qualify through different lending programs, but lenders often request additional documentation such as tax returns, notices of assessment, business registration records, financial statements, and bank statements.

Potentially. Prime, alternative, and private lenders assess files differently. Credit history is only one part of the application; income, equity, down payment, property type, and the reason for past credit issues may also be considered.

Refinancing replaces or changes an existing mortgage to achieve a new objective, such as accessing equity, consolidating debts, changing the mortgage structure, or obtaining different financing terms. Costs and lender conditions should be reviewed before proceeding.

At renewal, you can accept an offer from your current lender or review options with other lenders. It is a good time to compare rates, terms, prepayment privileges, and whether your current mortgage still supports your financial goals.

In some cases, available property equity may allow eligible debts to be combined into a mortgage or secured financing solution. Approval depends on income, credit, property value, existing liens, and lender guidelines.

Timing depends on the mortgage type, lender, property, appraisal requirements, and how quickly supporting documents are provided. A complete and organized file generally helps the review move more efficiently.

Closing costs may include legal fees, appraisal fees, title-related costs, taxes, insurance, adjustments, and other transaction-specific expenses. Ask your lawyer and mortgage professional for an estimate that reflects your purchase or refinance.

Yes, but these applications may require rental agreements, property income details, operating expenses, zoning or permit information, and a larger down payment. The number of units and intended use can also affect the lending options available.

A decline from one lender does not always mean there are no other options. The reasons for the decision should be reviewed, and the application may be considered by another lender whose guidelines are a better fit, where appropriate.