• FAIRCHOICE Mortgage Co. Logo
(905) 625-2288
E-MAIL NOW
E-mail now (905) 625-2288
  • Home
  • About Us
  • Mortgage Services
    • Purchase Mortgages
    • Mortgage Refinances
    • Commercial Mortgages
    • Business Loans
    • Credit Repair
    • Reverse Mortgages
  • Service Areas
  • FAQ
  • Our Team
  • Book Online
  • Blog
  • Contact Us
  • What’s the difference between a Broker and My Bank?

    • FAIRCHOICE Mortgage Co.
    • Dec 18, 2022

    A Broker has access to all Major Banks and as well as many non conventional (private) lenders. The broker knows…

    Click Here To Read The Full Article


  • How much do I need to put down to avoid paying CMHC Insurance fee?

    • FAIRCHOICE Mortgage Co.
    • Dec 17, 2022

    You will need a minimum of 20% down.

    Click Here To Read The Full Article


  • How much do I need to have available for closing costs?

    • FAIRCHOICE Mortgage Co.
    • Dec 16, 2022

    Though this varies depending on your location and specific circumstances, most First Mortgage lenders require you to show 1.5% of…

    Click Here To Read The Full Article


  • What’s the minimum I can put down to purchase a home?

    • FAIRCHOICE Mortgage Co.
    • Dec 15, 2022

    Minimum down payment required is 5% of the purchase price.

    Click Here To Read The Full Article


  • Can I still get a mortgage if I have bad credit?

    • FAIRCHOICE Mortgage Co.
    • Dec 14, 2022

    Yes but you will likely need a larger down payment and may get a rate that’s higher than our lowest…

    Click Here To Read The Full Article


  • What is a 2nd mortgage?

    • FAIRCHOICE Mortgage Co.
    • Dec 13, 2022

    A second mortgage is a loan secured by your home which goes behind your 1st mortgage.

    Click Here To Read The Full Article


  • What is the average interest rate for a 2nd mortgage?

    • FAIRCHOICE Mortgage Co.
    • Dec 12, 2022

    2nd mortgage rates will range between 10% and 15%

    Click Here To Read The Full Article


  • Can I get a 2nd to the value of my house?

    • FAIRCHOICE Mortgage Co.
    • Dec 11, 2022

    No, 2nd mortgages are available to 85% of the value of your home, 90% on exception.

    Click Here To Read The Full Article


  • What happens if I miss a payment (do they take my house)?

    • FAIRCHOICE Mortgage Co.
    • Dec 10, 2022

    They will not take your house for being one month behind, but as with your 1st mortgage you cannot fall…

    Click Here To Read The Full Article


  • How do I make payments?

    • FAIRCHOICE Mortgage Co.
    • Dec 09, 2022

    In most cases, for a 2nd mortgage you will provide the lender with 12 post dated cheques. For a first…

    Click Here To Read The Full Article


  • What fees will I have to pay?

    • FAIRCHOICE Mortgage Co.
    • Dec 08, 2022

    For a 2nd mortgage you will be responsible for the brokerage fee, legal fee, lender fee and an appraisal fee.

    Click Here To Read The Full Article


  • Can I use my own lawyer?

    • FAIRCHOICE Mortgage Co.
    • Dec 07, 2022

    Yes, for 1st. mortgages you can. For 2nd mortgages the lender will have their own lawyer which you must use.…

    Click Here To Read The Full Article


  • Who will have to sign on this mortgage (everyone on title)?

    • FAIRCHOICE Mortgage Co.
    • Dec 06, 2022

    Everyone on the title to a property will have to be on the mortgage.

    Click Here To Read The Full Article


  • Does all of my money go to interest?

    • FAIRCHOICE Mortgage Co.
    • Dec 05, 2022

    Most often yes, but some of the 2nd mortgage lenders will allow you to pay principal and interest. Most of…

    Click Here To Read The Full Article


  • Will we need an appraisal?

    • FAIRCHOICE Mortgage Co.
    • Dec 04, 2022

    All refinances will require an appraisal at the clients’ expense. A home purchase may not require an appraisal depending on…

    Click Here To Read The Full Article


  • Who chooses the appraiser?

    • FAIRCHOICE Mortgage Co.
    • Dec 03, 2022

    The lender will choose the appraiser.

    Click Here To Read The Full Article


  • Do I have to bring the fees in to the lawyer in cash?

    • FAIRCHOICE Mortgage Co.
    • Dec 02, 2022

    For a refinance: You can either bring the closing fees to the lawyer in cash or have them deducted from…

    Click Here To Read The Full Article


  • What am I allowed to use the money for?

    • FAIRCHOICE Mortgage Co.
    • Dec 01, 2022

    You can use the money for anything you’d like.

    Click Here To Read The Full Article


  • WHAT IS CCSP - GUARANTEED RETURN POLICY?

    • FAIRCHOICE Mortgage Co.
    • Nov 30, 2022

    A Guaranteed Return Policy (GRP) is a specifically designed Participating Whole Life Insurance Policy. The plan provides 3 major benefits:…

    Click Here To Read The Full Article


  • WHAT IS PARTICIPATING WHOLE LIFE INSURANCE?

    • FAIRCHOICE Mortgage Co.
    • Nov 29, 2022

    Participating whole life insurance allows the policy owner to “participate” in the insurance company's profits. They provide guaranteed cash values…

    Click Here To Read The Full Article


1 2Next »

Recent Posts

  • What’s the difference between a Broker and My Bank?
  • How much do I need to put down to avoid paying CMHC Insurance fee?
  • How much do I need to have available for closing costs?
  • What’s the minimum I can put down to purchase a home?
  • Can I still get a mortgage if I have bad credit?
  • What is a 2nd mortgage?
  • What is the average interest rate for a 2nd mortgage?
  • Can I get a 2nd to the value of my house?
  • What happens if I miss a payment (do they take my house)?
  • How do I make payments?
245 Fairview Mall Drive, Suite 303, North York, ON M2J 4T1

© 2023 FAIRCHOICE Mortgage Co. Powered By Digital WebKit

245 Fairview Mall Drive, Suite 303, North York, ON M2J 4T1

© 2023 FAIRCHOICE Mortgage Co. Powered By Digital WebKit

  • Home
  • About Us
  • Mortgage Services
    • Mortgage Services
    • Purchase Mortgages
    • Mortgage Refinances
    • Commercial Mortgages
    • Business Loans
    • Credit Repair
    • Reverse Mortgages
  • Service Areas
  • FAQ
  • Our Team
  • Book Online
  • Blog
  • Contact Us