Frequently Asked Questions

• What is a Mortgage Broker?
  
  
• Why deal with a Mortgage Broker/Agent?
  
  
• If I have bruised credit (low credit score or bankruptcy), am I still eligible for a mortgage? Can Canadalend help me?
  
  
• What should I budget for a home purchase?
  
  
• What is the minimum down payment required to purchase a property?
  
  
• What can I use for a down payment?
  
  
• What are the costs of dealing with a Mortgage Broker/Agent?
  
  
• Why should I go to a Mortgage Broker/Agent first?
  
  
• Can Canadalend help me with both my residential and commercial financing needs?
  
  
• What is CMHC?
  
  
• Why do I need a property appraisal?
  
  
• What is mortgage insurance?
  
  
• How can I save money on my mortgage?
  
  
• What are 'mortgage terms'?
  
  
• What will my monthly mortgage payment amount be?