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What should I know about buying a house?

You've come to the perfect site if you're searching to buy a property in Ontario. Creditlinx has been serving Ontario and the Greater Toronto Area for nearly two decades and has grown to be one of the province's largest and most popular financial advisors.

We assist clients of all income levels and credit histories in obtaining mortgages for the home of their dreams. We're accustomed to scouring the market for the finest deals based on your specific circumstances.

Because of our unique access to big pools of banks, credit unions, and private lenders, your firm will face stiff competition. You will always win when banks and private lenders compete!

What we can do to help:


  • We accept all forms of payment including credit

  • We take a close look at every situation

  • Unrivaled access to a diverse range of financial institutions

  • Great rates are available

  • Many alternative and private lenders are available to you

  • Can make last-minute purchases

  • Offer the most affordable rates possible.

  • And there's so much more...

Mortgage Alternatives

Fixed and variable interest rates are the two alternatives that lenders utilize to compute interest rates.

Fixed Rates maintain the interest rate constant for a set length of time. These are the finest if you want to know exactly how much your mortgage will cost each month.

Variable Rates change according on the state of the economy, as they are based on the Bank of Canada Policy Rate. When interest rates climb, your monthly payments rise with them, and when they fall, your mortgage becomes less expensive.

Mortgage Terms and Amortization

The term "amortization" refers to the time it takes to pay off your mortgage in its entirety.

You must agree on what are known as Mortgage Terms in order to pay off your mortgage. Your Mortgage Terms include everything in your mortgage deal, including rates, kind, and payments.

These terms must be renewed, therefore your amortization agreement will normally be completed across several terms.

Types of Mortgages

You can choose between two types of mortgages: open and closed.

You can pay more money (without penalties) to pay down the sum of your mortgage faster with an Open mortgage, and you can renegotiate your Term before it expires.

A closed mortgage restricts the amount of extra money you can pay over and above your regular payments (without incurring a penalty), but it is ideal for budgeting. Your payment is fixed, and you often get a lower interest rate than with an open mortgage.

If this sounds confusing, don't worry; Creditlinx's professionals can explain everything in plain English during a free consultation.

Other Fees and Down Payment

To avoid additional insurance expenses from the CMHC, a down payment of at least 20% of the home's appraised value is required. Not only will your mortgage payment be lower, but your terms will be better as well.

It may take a little longer to save, but you will save thousands of dollars in the long run. These savings can be used to offset Closing Costs and the Land Transfer Tax, which are both required to complete your property purchase.

Living Room with Marble Coffee Table

For all of your mortgage needs, we provide a variety of options!

We've seen it all in our years of experience, so we're used to tailoring our services to specific budgetary requirements. We recognize that for the majority of individuals, their home is the most valuable possession they will ever own, thus it's critical that they receive the service they require.

Creditlinx is committed to providing 5 star customer service. Contact us and a lending professional will assist you in scheduling a free personal consultation. We'll assist you in evaluating your mortgage alternatives and determining the best option for you!

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