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What to Bring

Valid photo identification

Bank/asset statements for the last 3 months on all chequings, savings, stock, mutual funds, RRSP’s, or other liquid assets you would like on your loan application

Pay stubs for the last 30 days

Existing mortgage statement (if applicable)

A copy of the signed real estate contract, if you’ve already made an offer on a home

Do's

Immediately inform us of any change in your employment, income and asset status.

Continue making your mortgage or rent payments.

Stay current on all existing accounts.

Explain any credit blemishes and credit inquiries.

Don'ts

Apply for new credit or loans.

Close any credit card accounts, max out or over charge on your credit accounts.

Change bank accounts or transfer balances from one account to another

Deposit large amounts of cash into your bank account without proper documentation.

Applying for a mortgage shouldn’t be hard or confusing,
let’s break this down and make it simple for you!

If I choose a mortgage with a lender that is not my bank, do I have to change my bank account?

No, lenders simply require a void cheque to take the payments from your existing bank account.

What kind of clients do Mortgage Brokers work with?

Rampone-Marsh Mortgages works with homebuyers and homeowners from many walks of life.. These clients include:

Can I transfer my mortgage if I buy another home?

Depending on your mortgage lender, yes. Most lenders are now offering options that allow you to take (or “port”) your mortgage with you. Typically you will not be assessed additional fees if the possession period between your old and new home is 60 days or less.

Is it really safe to apply for a mortgage online?

Yes, Rampone-Marsh uses secure software for all their applications. Applying for a mortgage online with Rampone-Marsh Mortgages is safe and secure. Our online application uses a 128-bit SSL (Secure Sockets Layer) server, that is verified secure by Verisign/RSA. This is the exact same type of system and software that most large banks use to secure your online banking

What does a Mortgage Broker charge?

Typically there is no charge. Our fee is paid by the lenders we secure your mortgage through, not you. In special “credit-challenged” circumstances, depending on the length and amount of the loan, we may have to charge a fee. However, we don’t charge our clients in the majority of cases.

What is equity?

The amount of financial interest in a property. Equity is the difference between the fair market value of the property and the amount still owed on the mortgage.|

What are closing costs?

These are expenses over and above the price of the property that are incurred by buyers and sellers when transferring ownership of a property. Closing costs normally include an origination fee, property taxes, charges for title insurance and escrow costs, appraisal fees, etc. Closing costs will vary according to the area country and the lenders used.

Are you Accredited?

Accredited members of Mortgage Professionals Canada & Mortgage Brokers Association of BC.

What is a down payment?

Part of the purchase price of a property that is paid in cash and not financed with a mortgage.

Who are the mortgage lenders that you use?

We deal with Canada’s top lending institutions, such as Scotiabank, TD, MCAP, and First National, just to name a few. We only work with accredited and reputable mortgage lenders.

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Glossary of Terms