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RateShop's team of Mortgage Advisors, licensed and dedicated underwriters search over 65 banks, credit unions, monoline lenders and trust companies to get you the best mortgage rates & deliver sincere advice to help suit the mortgage to your needs.
Any Credit, Any situation - we deliver a 100% Approval Rate so Mortgage Approvals for Purchases, Refinance and Renewals are all shopped in house. RateShop.ca has collaborated with lenders to bring exclusive rate offers and unique programs to its customers. A mortgage solution for everyone!
  • Shop several lenders with just 1 Credit Check
  • Nationwide Mortgage Approvals
  • No Rate Gimmicks, No Hidden Fees

Bryan Costa

Website:

Brokerage Licence: M20000220

Designation: Agent

Mortgage Application - Full Application

Personal Information


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Consent and Privacy Agreement

It’s important to get the right details on your mortgage application so we can assess your file better. The information provided by you will be relied upon to be accurate in order for the lenders or any other persons we may submit to on your behalf to determine credit worthiness You agree the information provided is true and complete and that you have not withheld or misrepresented any information.

We require your consent to request a credit bureau to review your credit worthiness to determine your suitability to a mortgage product. Your SIN is not required, however helps us accurately request your bureau. You permit us to request a credit bureau, collect, use and maintain personal information for the following purposes: (a) to determine the suitability of the products and services for you (b) to determine your eligibility of the various products and services (c) to establish, manage and offer products and services that meet your needs (d) to provide on-going service and (e) to meet our legal and regulatory requirements.

RateShop Inc. and its agents, work exclusively on your behalf, shopping with the same lenders across multiple brokerages can impact the consistency in your application. You authorize RateShop Inc. to act exclusively and irrevocably on your behalf for six months from this application submission date. You agree that an advisor will quote a maximum rate for your mortgage and a onetime market rate reduction may be applicable prior to closing. Upon acceptance of this rate, once a lender commitment has been issued, inability to close the transaction with RateShop Inc and its agents will result in a penalty of $1500.00 payable on closing date.

We will continue to work diligently to offer the most competitive rate even after the approval, and match any rate with the same lender, with the same terms and features in either a buydown or cashback resulting in a similar Net Rate, your choice to not proceed with an issued commitment, signed or unsigned after will result in a penalty of $1500.00 payable on closing.

We rely on accuracy in information to find you’re the best products. You authorize RateShop Inc. to disclose to or retrieve from any information lender, insurer, insurance agent, financial advisor, credit bureau agencies, past and present employers, creditors and tenants and any transaction related parties.

Canada Anti-Spam Legislation: I/We authorize Rateshop Inc., affiliated companies and authorized agents to keep in touch with me/us via electronic messaging in order to provide me/us with content and provide insightful information on mortgages, finances, etc. I/We wish to be kept informed and consent to the receiving of these informative electronic communications. I/We understand that I/we can withdraw consent at any time. I/We understand that even if I/We do not provide my/our express consent to receive promotional communications, I/We may still be contacted, if authorized under applicable anti-spam legislation, for example if I/We have recently entered into a transaction with Rateshop Inc. (and therefore, Rateshop Inc. has my/our implied consent) as well as for transactional purposes such as contacts for customer service and/or product or service information, status updates or renewals, reminder notices or answers to my/our questions or inquiries.

Ongoing Commitment: I/We acknowledge the Rateshop Inc. Privacy Policy is available for review at www.rateshop.ca, and understand that the collection, use and disclosure of my/our personal information by Rateshop Inc. will be done in accordance with such Privacy Policy. I/We agree that a photocopy or electronic copy of this Consent, Privacy & Service Agreement has the same value as the original one.

Comments/Special Instructions

Start with our Mortgage Approval Tool!

Access to 65+ Lenders, Dedicated Customer Service

Purchase

Our lenders are open to accept gifted or borrowed downpayment in some cases. Down payment confirmations typically mean proving your ownership of the money for the past 3 months.

When purchasing a rental property, downpayment may not be borrowed or gifted.

Working with a RateShop broker means finding the perfect lender that is flexible to work with regardless of your situation.

Your maxmimum purchase price is driven by factors like downpayment, credit score, and income.

Office of the Superintendent of Financial Institutions (OSFI) mandates the use of stress test, to ensure an applicant can withstand the market interest rate changes at the time of qualification.

Your total mortgage payment, heat and property taxes may only be a maximum of 39%, and other debt obligations combined with a maximum of 44% of your total gross income.

RateShop offers access to certain credit unions and trust companies that could deliver a higher affordability.

While Canadians can qualify for a mortgage with less than 20% down payment, they are subject to a default insuarance premium which is a percentage of the requested mortgage amount. This insurance policy acts as a guarantee to the bank incase of non-payment or default. The insurance premiums are added to the mortgage balance, therefore called insured mortgages.

For clients' purchashing with 20% or more, flexibilities like 30 year amortization and no cost of insurance opens up to buy and qualify for larger loans amounts.

Though approvals don't mean a guarantee to financing, they can be useful for securing a good rate, a condition free offer to purchase or even locking in a confirmation of mortgage funding based on a thorough review.

Incomes and debt can vary based on job types and situations, having a full review done by a mortgage advisor can support a confident home buying experience.

Home Equity

Home equity loans are offered regardless of income or credit situations. Equity-based lending allows customers to utilize their home value built up over time to consolidate debts, use funds for investment or any other needs by offering quick and easy funding.

Home equity loans are generally offered over one, two, three year terms, however we do offer short-term home equity loans with discounted borrowing costs for clients expecting to pay off the balances in 6 months or less.

Home equity loans and Home Equity lines are interest only payments, amortization to pay off part principal is also available on certain products. These specialized products allow clients to borrow and return the money according to their needs, without having to incur an interest charge when they don't need access to the money.

Home equity loans is a perfect solution for that consolidation, by eliminating debt on credit cards, line of credit, high interest loans, clients can pay off their balances and boost their credit score, by instantly reducing their credit utilization, and with the additional benefit of not having the balance or the monthly payment of the home equity loan show up on their credit reports.

Refinance

A Mortgage renewal allows a client to switch the current mortgage lender to a different mortgage lender with a better interest rate, without making any changes to the existing mortgage balance. Some lenders may even cover the cost of the switch, while others May permit up to $5,000 in expenses to be added on to the balance.

A mortgage refinance permits are client to use the existing equity in the property towards debt consolidation or equity take out in cash, many clients also prefer to have a line of credit attached to their mortgage for flexibility and access to funds. Refinances prior to end of term with the current lender may result in penalties to break away from the current mortgage however allure interest rate or consolidation of debt can result in the comparative savings over the penalties.

As property values have risen in canada, utilizing your Equity is a great opportunity to use the words consolidations, investment opportunities or setting up a retirement fund. You don't refinance every other day, when you do you will be presented with all options available to discuss the best financial plan for you by evaluating the pros and cons of getting more equity out of your property.

Banks use certified real estate appraisers to evaluate the current property market value before funding the mortgage, so they can determine qualification. On a conventional mortgage, Canadian financial institutions can offer up to 80% loan against its value.

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What are you looking to do?

Pre-Approvals & New Purchases
Debt Consolidation & One Lower Payment
Same Mortgage Balance & Lower Rates
Access Home Equity Loans in 24 hours

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What will the property be used for?

Primary Residence
Rental (1 to 4 Units)
Cottage or Second Home

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What is the property used for?

Primary Residence
Rental (1 to 4 Units)
Cottage or Second Home

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What is the property used for?

Owner Occupied
Investment
2nd/Vacation Home

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What is the property used for?

Owner Occupied
Rental (1 to 4 Units)
Cottage or Second Home

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What's your Puchase Price or Estimated Budget?

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Any Price Range of the properties you have been looking at.

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What is the current property value?

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Compare the sales in your neighbourhood using beds, baths and square footage.

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What is the current property value?

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Compare the sales in your neighbourhood using beds, baths and square footage.

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What is the current property value?

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Compare the sales in your neighbourhood using beds, baths and square footage.

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Down Payment

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What's your Current Mortgage Balance?

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What's your Current Mortgage Balance?

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What's your Current Mortgage Balance?

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Found a property?

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Additional Funds

$ 0.8X current property value MINUS total balannce

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Who's Your Current Mortgage Lender?

We use this information to estimate any penalties and determine collateral or standard charges if applicable.

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Additional Funds

$ 0.8X current property value MINUS total balannce

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What's your credit like?

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What Rewards do You Prefer?

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Let's check out your Offers!

Please Confirm Your Identity

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Disclaimer: RateShop is a licensed mortgage brokerage in Ontario (FSRA #12733). RateShop can practise mortgage brokering activity in the province of Ontario.

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