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General mortgage FAQs
(Frequently asked questions)

Here are some mortgage FAQs you should read if you're planning on getting a mortgage from The Mortgage Store Online.

1. Why should I consider a mortgage loan?
2. How long has your company been in the mortgage business?
3. What types of mortgage services do you provide?
4. What types of mortgages do you offer?
   
5. Why should I choose your company over your competitors?
6. What types of customers and clients do you handle?
7. I want a mortgage loan but I don't have consistent income/I'm self employed. Can you still help me?
8. I have a bad credit score. Will you still take me as a client?
9. Does it cost anything to consult with one of your mortgage brokers?

If you already know what type of mortgage loan or mortgage services you're interested in, go directly to our home mortgage section or commercial mortgage section.

Why should I consider a mortgage loan?

A mortgage loan is a useful "finance tool" that can help you buy new real estate, or tap into the 'cash value' of real estate you might already fully or partially own. When get a mortgage loan through a professional broker, you can successfully use your new mortgage loan to do the following:

• Purchase or refinance home or commercial real estate
• Buy rental property
• Get equity / cash out of a home or commercial property
• Consolidate your debts
• Get a line of credit
• Lock in a lower interest rate.

How long has your company been in the mortgage business?

The Mortgage Store Online is a brand new, unique operation launched in December 2006. It was founded by experienced brokers who have been in the mortgage business for over 20 years in Canada.

What type of mortgage services do you provide?

We specialize in providing mortgage financing and refinancing for all types of home estate and commercial real estate.

What types of mortgages do you offer?

We offer literally hundereds of mortgage programs, which are tailored down to the ones that best suit your own needs. Mortgage types can typically fall into four general categories:

1. Refinance
2. Equity
3. Finance
4. Purchase

Why should I choose your company over your competitors?

With The Mortgage Store Online you get wider coverage, more choices, and better quality service. Here are some of the advantages you'll get with us handling your mortgage needs rather than other competitors:

• Widest coverage. We operate in all of Canada, not just a single province.
• Highest professional service. Your application and communication is with a professional broker over the phone, unlike other companies which only do online correspondence and with just a sales rep.
• Better specialization. We strictly deal with home and commercial mortgage plans; you benefit from the most customized solutions tailored specifically to your needs.

What types of customers and clients do you handle?

We service everyone and all business types, from clients wanting a mortgage to buy a home to live in, to real estate developers wanting a mortgage to finance revenue properties worth hundreds of millions of dollars.

I want a mortgage loan but I don't have consistent income/I'm self employed. Can you still help me?

Absolutely. We have access to 100's of mortgage loan programs, including no-income verification mortgage programs (where you don't have to show your income at all to qualify for a mortgage), and even self-employed mortgage programs: where you can still get a mortgage even if you don't have consistent income.

I have a bad credit score. Will you still take me as a client?

We have much success helping people with "bad credit" still get a mortgage, as we have access to both "Grade A" mortgage lenders AND "bad credit" mortgage lenders. Your competitive advantage with us is we have access to a large amount of lenders and therefore 100's of mortgage "programs," so it's very rare that a person with even the worst qualification standards won't be able to get a mortgage through us.

Does it cost anything to talk with one of your mortgage brokers?

Consulting is free! We are confident that you'll find our program has the best value - and we certainly won't charge you for talking to one of our brokers. The majority of the time, we actually don't charge any sort of fees for our home mortgage services at all: they are completely free to you as long as you qualify with one of our Grade A lenders - and most of our borrowers do!

In the event that you would be charged a broker fee (if you happen to not qualify for a Grade A home lender, or you're getting a special type of commercial mortgage), we would let you know about this broker fee plenty of time in advance for you to calculate your costs, and even to possibly plan to borrow that broker fee amount along with your mortgage amount from your lender. Most importantly, you would not pay a broker fee until your mortgage deal is completely closed: so after your mortgage application is completely approved, processed and you have signed your mortgage contract.

Ready to apply for a mortage loan? Or have questions? Ask our brokers by using the contact form or by calling them at 1-866-880-2577.