Mortgage With Crystal
  • Home
  • Get Started
  • Services
  • FAQ
  • Contact Me
  • More
    • Home
    • Get Started
    • Services
    • FAQ
    • Contact Me
Mortgage With Crystal
  • Home
  • Get Started
  • Services
  • FAQ
  • Contact Me

GEneral Mortgage Questions:

A mortgage broker acts as a middleman between you and multiple lenders to find the best mortgage rates and terms that suit your needs. Unlike banks, we have access to a variety of lenders, giving you more options and often better deals.


The minimum down payment depends on the home's purchase price:

  • For homes under $500,000, you need at least 5%.
  • For homes between $500,000 and $999,999, you need 5% on the first $500,000 and 10% on the remaining amount.
  • For homes over $1.5 million, you need at least 20%.


A pre-approval gives you a clear idea of how much you can borrow based on your income, credit score, and debt. It also locks in an interest rate for up to 120 days, helping you shop with confidence.


Mortgage Rates & Terms:

  • A fixed-rate mortgage locks in your interest rate for the term, providing stable payments.
  • A variable-rate mortgage fluctuates with market interest rates, meaning your payments may change over time.


Lenders consider factors like your credit score, income, employment history, and debt load. Working with a mortgage broker gives you access to competitive rates from multiple lenders.


First-Time Homebuyer:

Yes! Some programs that may help include:

  • Home Buyers' Plan (HBP) – Withdraw up to $60,000 from your RRSP tax-free for a down payment.
  • First Time Home Buyers Account (FTHB)- take advantage of using a first time home buyers account for tax advantages. 



Refinancing & Renewals:

You might refinance to:

  • Secure a lower interest rate
  • Access home equity for renovations or investments
  • Consolidate high-interest debt
  • doing renovations to your current property


About 3-6 months before your mortgage term ends that when we will start discussing your new goals and plans. We can then start shopping around and see who has the best rates out there and what we will do.


Credit & Approval Process

Most lenders prefer a credit score of at least 620 to have access to all of the prime lenders they like to see a score of at lease 680, but some will approve borrowers with lower scores, especially with a larger down payment.


Yes! While self-employed applicants may need to provide additional documentation, there are lenders who specialize in working with business owners and freelancers.


Still have questions?

Get in touch! I'm happy to help  guide you through every step of the mortgage process.


Copyright © 2025 Mortgage With Crystal - All Rights Reserved.

Powered by

This website uses cookies.

We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.

Accept