I am the mortgage broker /owner of The Mortgage Centre Sky Financial Corporation with 25 years of experience. I am committed to working with you, and have your best interest at heart. I am a problem solver and enjoy working with people just like you to find the best possible solution and mortgage product. The Mortgage Centre- Sky Financial Corporation in Edmonton was established in 1992 and has helped thousands of people purchase their dream home.
We specialize in 1st, 2nd mortgages, construction mortgage, renovation, debt consolidation, equity take out up to 80% of the value of your home (some restrictions apply), bankruptcies, slow credit, purchases with home improvements, commercial loans etc.
Our Interest rates are extremely low compared to the banks, by up to 1.20% depending on your credit history, employment stability and so on.
Since interest rates fluctuate on a regular basis, your best option is to contact me for the most current rates and products that best suit your needs.
APPLY WITH ME
To apply for a loan of your choice, please fill in the online application form. The detailed form will let me assess your financial situation and help come up with the best mortgage solution for your needs.
The Mortgage Centre / Sky Financial
Dear Valued Customer,
Congratulations! You’ve made a great choice to work with a mortgage broker! We have single stop access to multiple lenders offering great rates and terms. And best of all, our service is FREE*.
So lets get started!
We would like to take a moment to help you understand the process of applying for financing approval. Our commitment to excellence in customer service will ensure that your transaction proceeds smoothly and efficiently.
The following steps outline the service process you can expect from us at The Mortgage Centre – Sky Financial Corporation.
- Your Mortgage Associate will review our complete Service Agreement with you including details on the nature of our working relationship with you, how we are paid and what you can expect for closing costs.
- Your Mortgage Associate will review your personal information and prepare the financing application for submission to the appropriate lender.
- Your Mortgage Associate will request documentation from you to confirm your credit rating, assets, liabilities, income, down payment and identification.
- We will review lender interest rates, terms, conditions and features and the most suitable lender chosen.
- Your application will be submitted to the lender for review.
- Upon receiving an approval from a lender, your Mortgage Associate will review with you the approval terms, any outstanding lender conditions and advise you what documents to provide to complete the approval. Your Mortgage Associate will keep you informed every step of the way! Caution: never remove your subject to financing condition until you have spoken with your Mortgage Associate.
- Once all lender conditions have been satisfied, the lender will send mortgage instructions to your solicitor or legal service provider. Start packing!
- Your solicitor will prepare the mortgage documents and arrange for you to meet and sign the documents, take in any balance of your down payment and closing costs outstanding, and confirm the property is insured properly (Homeowner’s Policy). You will also be required to show two pieces of ID at the meeting (one of which must be a photo ID). Your solicitor will handle the mortgage funds and your down payment and see that the funds are transferred to the seller on the closing day and that the property is transferred into your name.
- Enjoy your new home!!
What A Mortgage Broker Can Do For You!
Here are some of the services we can provide to meet all your financing goals.
- Home Purchase
- Purchase Plus Home Improvement
- Investment / Rental Properties
- First Time Homebuyers (RRSP For Down Payment)
- New To Canada
- Self Employed – Stated Income Programs
- 2nd and 3rd Mortgages
- Vacation and Secondary Homes
- Build Mortgages
- Lines of Credit – Secured and Unsecured
- Equipment Leasing
- Commercial Property Financing
- Personal Insurance (Life and Disability Coverage) Associated With Your Mortgage
- Spec Mortgages
- Non-Traditional Mortgages
- Provide Mortgage Planning & Debt Consolidation
- Provide a FREE property market trend evaluation / property value report.
OUR SERVICE AGREEMENT - Acting as an intermediary
How We Work Together
The Mortgage Market
For a variety of reasons, a mortgage professional may not always be able to obtain the lowest rate or best terms in the marketplace for a particular borrower. The terms of the purchase contract, type of property, property value, borrower’s employment status, borrower’s financial position and credit history are examples of some factors that may affect rates and terms.
This Service Agreement begins on _____________________ and ends at the earlier of the funding of the loan, mortgage or other financing, or if there is no approval and you advise me to not proceed further with any financing applications. The Service Agreement may also be terminated at any time by either you or us by providing written notice.
The mortgage brokerage and its representative’s role and obligations to the borrower and the lender will vary depending on the nature of the service relationship between the mortgage brokerage and the lender or borrower. This is not intended to be an all inclusive list but in general terms the following document describes the mortgage brokerage’s role and resulting obligations to you. You are encouraged to discuss this document with your mortgage brokerage representative and ask any questions you may have.
In general terms a MORTGAGE BROKER can be described as the matchmaker between a borrower and a lender with the goal of originating a mortgage loan. Typically, a mortgage broker draws from a pool of various lenders to find the right match; however, some mortgage brokers only do business with one lender.
The Mortgage associate /broker will take the borrower’s application, consider the particular circumstances and recommend the best product suited to the borrowers needs based on the products available to the mortgage associate.
TYPES OF RELATIONSHIPS: There are 3 types of relationships
- a) Mortgage Brokerage who represents the Borrower; When a mortgage brokerage is representing you, as a borrower, you will be a CLIENT. That brokerage must act in your best interests at all times. It will owe you general, fiduciary, and regulatory obligations. These include undivided loyalty, confidentiality, full disclosure, obedience, reasonable care and skill, and full accounting. The brokerage will recommend financing options to you, advocate on your behalf, and provide you with confidential advice.
- b) Mortgage Brokerage who Acts as an Intermediary; A mortgage brokerage may act as an intermediary between you, as a borrower, and potential lenders. In this case, the mortgage brokerage is not representing you or the lender. Neither of you are clients. Both are customers. The brokerage will facilitate the mortgage deal by gathering information, explaining the options, completing the necessary documents and keeping both sides apprised of the deal’s progress. They will not act to the benefit or detriment of you or the lender(s)
- c) Mortgage Brokerage representing the lender: (when the lender is not a bank, treasury branch, credit union, loan corporation, trust corporation, insurance company, or any person engaged in the business of making loans secured with mortgages)
We will review your personal information and documents received to confirm your identity and your credit eligibility. If further verification is required, we will notify all parties to any potential transaction of any changes.
We will act as an intermediary between you and lender(s).
- a) Our responsibilities to you in an intermediary relationship include:
- be honest;
- exercise reasonable care and skill;
- gather your intended property and financial information to determine the lending options available to you;
- disclose and explain finance options for your consideration;
- complete and submit documentation to the lender; and
- keep you informed of the progress of your application.
- b) Our responsibilities to the lender are:
- be honest;
- exercise reasonable care and skill;
- complete and submit documentation to the lender;
- disclose what steps were taken to verify information and documentation as part of the application process; and
- keep the lender informed of the progress of the application.
- c) Your responsibility;
- During the financing process, your responsibility is to communicate with us in a reasonable and timely manner and promptly provide us with the information and documents we request for your financing application and approval.
You hereby authorize us to communicate with your Realtor, Realtor’s Brokerage, appointed agent or sales person acting on your behalf as to the progress of your financing application.
You agree we may continue to contact you after the Service Agreement period ends to provide you information on products and services offered or approved by us, our company, our affiliates, related entities or other arm length financial partners that we believe may be of interest to you. You can withdraw your consent at any time by notifying us.
You agree to receive electronic messages from us providing industry relevant news, updates, interest rates, mortgage information, important reminders and similar communications. You may withdraw your consent at any time by notifying us.
Documents and Personal Information Transmission
You and us consent to communicate and deliver documents and information to each other in person, by mail, or electronically. You and us acknowledge there are some risks with communicating documents in any format and you and us accept these risks. We both agree to use our best efforts to minimize these risks.
We will receive our fee for this mortgage transaction from the lender. There are circumstances where the lender does not pay the Mortgage Associate. Your Mortgage Associate will advise you when this is the case BEFORE you make any commitment, and if you agree, you will sign a Fee Agreement. Fees may be charged to the borrower where, in the opinion of the Mortgage Associate, lenders do not offer any or adequate compensation for the scope of the work required. We are normally paid by the lenders for fully qualifying mortgages placed with regular banks and financial institutions. We also may receive from time to time volume bonus, this is based on the overall volume of the office, and is also subject to our office funding ratios. These are subject to change by the financial institutions. Mortgage Associate may also receive points/expense accounts, business trips, and expense allowance from service providers such as Mortgage protection plan.
Credit Bureau/ exchange of information
I consent and agree that my mortgage broker/agent may use the Information in my mortgage application for the purposes of obtaining a mortgage and may obtain Information about me from other reporting agencies ie; credit bureaus and real estate agents, appraisers.
Other details about this agreement
The laws of the Province of Alberta govern this agreement. Words in the singular meaning may be read as plural when required by the context. You acknowledge this agreement accurately sets out what both of us agree to and any future changes to this Agreement must be in writing and signed by all parties to be valid.