Buying a home is an exciting time and is one of the most important financial decisions you’ll ever make. Finding the right mortgage for your individual or family situation can save you money.  In reality, this perfect fit can make owning a home affordable.

Vertuity Mortgage will create a budget for you to determine what price range of home you can afford.  Once the preapproval is complete Vertuity can lock in an interest rate for you, for up to 120 days.  This peace of mind means that you can take your time shopping for your new home, knowing that the discussed payments are guaranteed for four months. The best part of working with a professional broker is that while you concentrate on finding your home, Vertuity will monitor fluctuating rates offered by various lenders and advise you of changes and offer suggestions should better options arise.

Here’s what you need to know:

Choosing a Realtor

Finding a home can be difficult.  Using a professional realtor will save you time, energy and most importantly money. Vertuity Mortgage has built relationships with various trusted realtors. We will be more than happy to introduce you to one of our realtors who have taken excellent care of our clients in the past.

Down Payment

Today, there are many flexible options for down payments.  Yours can include funds from your own savings, investments, the sale of property, or gifts from an immediate family member.  You may even qualify for no downpayment where up to 5% can be paid by your lender.  A mortgage with a down payment that is less than 20% is considered a high ratio mortgage and must be insured by either CMHC or Genworth Financial. The larger your down payment, the less CMHC/Genworth insurance premiium fees that you will pay. At Vertuity, we will give you an estimate of what these fees will cost.  One of our goals is to keep you educated as you progress in the mortgage process and help you to budget accordingly.

Closing costs