Residential Mortgage

A residential mortgage is a loan you take to purchase a home in which you intend to live. You use the home as security for the loan.

Since the Government of Canada considers home-ownership as a necessary and important ingredient for stable and balanced family life, mortgage loans taken purposely for buying a home in which you intend to live are given preferential treatment in terms of rates, amortization periods, cmhc fees, especially for first-time buyers.

If you thinking about buying a residential home, most importantly if you are a first-time buyer, it is important to talk to a mortgage broker, such as Lifeline Financial. You must review the financing aspect with the mortgage broker so that your first home purchase experience will be smooth.

Many people mistakenly think that once they have their downpayment, it is enough to sign on the dotted line when they see a property they fall in love with… Unfortunately, often they find out when it is too late that they can’t get a good mortgage if they get one at all.

Contact Lifeline Financial to guide you before you sign the Purchase and Sale Agreement, not after.

Use the mortgage calculator provided online by Lifeline Financial.