FAQs

What is a mortgage?

A mortgage is a loan secured by real estate. You borrow funds from a lender, repay over time in principal and interest, and use your property as collateral.

Who is a mortgage broker?

A mortgage broker acts as an intermediary between you and multiple lenders. They compare options, find competitive rates, and help you choose the best loan for your situation.

How much mortgage can I get?

That depends on your income, credit history, debts, down payment amount, and the lender’s underwriting guidelines. Many lenders use multiples of income—some impose stricter limits, especially for high-risk profiles.

How do I prove my income?

If you are employed: use recent pay stubs, W-2s, tax returns. If self-employed: business tax returns, profit & loss statements, 1099s, or accountant-prepared financials may be needed.

What repayment options exist?

Standard amortizing (principal + interest): You gradually pay off the loan in full by end of term.
Interest-only: You pay only interest for a period, with the principal due later—this is more risky.

Part interest / part principal: A split structure—some portion is paid down, other component is interest-only.

Do I need a deposit (down payment)?

Yes, many mortgage products require a down payment. Some programs allow lower down payments or even zero in certain cases. Larger down payments often yield better rates.

To whom will lenders grant mortgages?

Generally, you must be of legal adult age, have verifiable income, fulfill creditworthiness requirements, and have documentation. In many cases, borrowers should reside legally in the jurisdiction for the loan’s term.

What is the typical mortgage term?

Common terms include 10, 15, 20, 25, or 30 years. Some lenders allow longer or shorter terms, subject to underwriting standards.

What happens if I default or can’t make payments?

If mortgage payments are missed, lenders may initiate foreclosure, and you risk losing your home. Contact your lender immediately—many offer forbearance, refinancing, or loss-mitigation solutions.

What is valuation / appraisal?

A valuation or appraisal is an independent assessment of your property’s market value. Lenders use it to ensure the property’s value supports the amount you want to borrow.

Is transmitting my mortgage application online safe?

Yes—when using secure, encrypted systems (SSL, secure forms). We adhere to industry-standard security protocols to protect your data.