Residential Mortgages
Residential Mortgages
Unlock Your Dream Home Today
Broadmoor assists clients with residential mortgage services by offering expert guidance and tailored solutions. Leveraging knowledge of Canadian tax laws, Broadmoor ensures compliance and maximizes tax benefits for clients. From mortgage selection to closing, Broadmoor provides comprehensive support, navigating legal requirements and optimizing financial outcomes for homeowners.
Adherence to Laws
Our services compliant with federal and provincial tax laws, including he Bank Act, The Income Tax Act, The Canadian Mortgage and Housing Corporation (CMHC) Act and Consumer Protection Laws.
What it includes
- Consultation: Clients consult with mortgage experts to determine their borrowing needs, budget, and eligibility for various mortgage products.
- Application: Clients submit mortgage applications, providing documentation such as income verification and credit history.
- Approval: Lenders review applications and approve mortgages based on factors like creditworthiness, income stability, and property valuation.
- Funding: Approved mortgages are funded, with clients receiving funds to purchase or refinance residential properties.
- Repayment: Clients make regular mortgage payments, which typically include principal and interest, over the loan term.
benefits to you
- Homeownership: Residential mortgages enable Canadians to own homes, providing stability, security, and a valuable asset for their families.
- Tax Deductions: Mortgage interest payments may be tax-deductible, reducing taxable income for homeowners under Canadian tax laws.
- Wealth Building: Home equity grows over time, allowing homeowners to build wealth and financial security for the future.
- Flexibility: Mortgage options offer flexibility in terms of loan terms, interest rates, and repayment schedules, accommodating various financial needs and preferences.
- Equity Access: Homeowners can access home equity through mortgage refinancing or home equity lines of credit, providing funds for investments, renovations, or emergencies.
- Community Stability: Homeownership promotes community stability and economic growth, fostering strong neighborhoods and vibrant local economies.
How we work
Understanding Client Needs
Consult with clients to grasp their requirements, goals, and preferences, ensuring alignment with their financial strategies.
Implementing Efficient Systems
Introduce easy-to-use tools and processes tailored to client needs, promoting accuracy, compliance, and streamlined operations.
Providing Feedback and Support
Offer continuous assistance, communication, and training to ensure clients effectively utilize systems and address any concerns.
What we will deliver to our clients
- Needs Assessment: Conduct thorough assessments to understand clients' residential mortgage needs, including budget, preferences, and eligibility factors.
- Compliance Assurance: Ensure that all mortgage offerings comply with Canadian provincial and federal tax laws, including regulations set forth by the Office of the Superintendent of Financial Institutions (OSFI).
- Tax Optimization: Structure mortgage solutions to maximize tax benefits for clients while remaining compliant with relevant tax laws, such as the Income Tax Act.
- Legal Documentation: Prepare and maintain all necessary legal documents and contracts related to residential mortgages, ensuring compliance with government acts like the Canadian Mortgage and Housing Corporation (CMHC) Act.
- Application Processing: Assist clients with completing mortgage applications, ensuring accuracy and adherence to lender requirements.
- Lender Liaison: Act as a liaison between clients and lenders, facilitating communication and negotiations to secure favorable mortgage terms.
- Mortgage Selection: Provide guidance on selecting the most suitable mortgage product based on clients' financial profiles and homeownership goals.
- Interest Rate Negotiation: Negotiate competitive interest rates with lenders on behalf of clients, considering current market conditions and clients' creditworthiness.
- Down Payment Assistance: Advise clients on down payment options, including government programs and assistance for first-time homebuyers.
- Mortgage Insurance Guidance: Educate clients on mortgage insurance requirements and options, ensuring compliance with regulations set by institutions like the CMHC.
- Payment Structuring: Help clients structure mortgage payments in a way that aligns with their financial capabilities and goals, considering factors like amortization period and payment frequency.
- Prepayment Options: Inform clients about prepayment options and penalties associated with paying off mortgages early, allowing them to make informed decisions about their loans.
- Refinancing Advice: Provide guidance on mortgage refinancing options, evaluating potential benefits and risks based on clients' financial situations and objectives.
