More lenders
Banks, credit unions, non-bank lenders and alternative lenders: a decline in one place doesn’t close the file.
Your mortgage, shopped across 25 lenders.
One file, taken to the lenders likely to say yes.
Start my requestNo fee on most residential files[ How it works ]
A file checked before it goes out, then followed through to the notary.
Before anything is sent to a lender, Mathieu checks your income, credit score, down payment and the property you have in mind. That avoids needless declines and repeated credit checks.
Then we go through the offers together. The payment, yes. But mostly the penalty if you sell before the end of the term, what you can prepay each year, and whether the mortgage follows you to another home.
Some of the lenders consulted, depending on your file.
[ Services ]
The right lender for each kind of project.
The lender that finances a first home is not the one that finances a triplex.
Home purchase
Know your maximum price, the down payment required and the notary and welcome-tax costs before you write a promise to purchase.
Mortgage renewal
Your lender sends its offer a few months before maturity. Mathieu compares it with other lenders, transfer included, before you sign.
Refinancing
Renovations, debt consolidation or a down payment on another property: the new payment, the penalty and the fees are worked out together before you decide.
Self-employed
Notices of assessment, financial statements, dividend income: your real income, presented to lenders that work with self-employed borrowers.
Rental property
Duplex, triplex or income property: how much of the rent the lender counts, the down payment required and the difference between owner-occupied and investor files.
Complex credit and private lending
Bank decline, past bankruptcy or a tight deadline: an alternative or private lender, its real cost and a plan to get back to a regular lender.
[ Commercial financing ]
Commercial, multifamily and real estate financing
In commercial lending, the lender looks at the building and its income first, then at the business or the owners behind it. Fewer lenders work in this market, and their requirements vary a lot.
Projects financed
- Multifamily properties with five or more units
- Commercial and industrial properties
- Mixed-use and income properties
- Purchase, construction and refinancing
What is reviewed
- Property income, leases and expenses
- Value, down payment and loan-to-value ratio
- Ownership or business structure and guarantees
- Timeline, repayment and exit strategy
Mathieu builds the file, takes it to the lenders active in this market and compares what each one requires: guarantees, debt coverage ratio, amortization, fees and rate.
[ Where to start ]
Every type of financing.
Each type of financing has its own documents, lenders and rules. Pick the one closest to your project.
View all financing typesHome purchasePurchase plus renovationsBridge financingResidential mortgageHome equity line of creditMortgage prequalificationPrivate lenderMortgage renewalSelf-employed borrowersDebt consolidationFlip financingReverse mortgageRental buildings and projectsNewcomers to CanadaCommercial mortgageMortgage refinancingSecond homes
[ Broker or bank ]
Why go through a broker instead of straight to your bank.
Your bank sells one product: its own. Among the 25 lenders Mathieu consults, several have no branch at all and lend only through brokers.
One application
Your file is built once and shown to several lenders, without stacking up credit checks.
One point of contact
You explain your situation once, to one person, who follows the file through to the notary.
[ Comparing offers ]
Two offers at the same rate can end up thousands of dollars apart.
The difference hides in the penalty: three months’ interest at one lender, a rate differential calculated on the posted rate at most big banks. Mathieu shows you both calculations before you choose.
[ Preparing the file ]
The documents lenders ask for, gathered before anything is sent.
Notices of assessment for the last two years, pay stubs or financial statements, 90 days of down-payment statements, the promise to purchase and the listing sheet: everything is checked before the file goes out. Fewer lender follow-ups, less stress a few days before the notary.
[ Following through ]
The follow-up doesn’t stop at the approval.
Lender conditions to clear, appraisal, mortgage insurance, instructions sent to the notary and confirmation of funding: Mathieu follows each step and keeps you informed until you sign.
[ Qualifying thresholds ]
Three numbers that set how much you can borrow.
These are the thresholds lenders and mortgage insurers apply in Canada. Better to know where you stand before you start viewing.
GDS ratio
The share of your gross income that can go to housing: mortgage, taxes, heating and half the condo fees.
39%
Minimum down payment
5% on the first $500,000 and 10% on the rest. Below 20%, the mortgage is insured and the CMHC premium is taxed at 9% in Quebec.
5%
Qualifying rate
Your rate plus 2%, or 5.25% if that is higher. This rate, not the one you pay, sets your maximum.
+2%
[ Common cases ]
Three situations where comparing changed the result
Three typical purchase, renewal and refinancing cases, and what the comparison changed.
First purchase with 5% down: the prequalification set the maximum price and budgeted the welcome tax and notary fees before the first visit.
The bank’s renewal offer looked fine. Compared with three other lenders, transfer fees included, it wasn’t the cheapest.
The monthly saving from refinancing looked good, until the penalty and fees were added: the break-even fell after the end of the term.
[ Practical guides ]
Guides to prepare your financing
[ Commitment ]
Every recommendation comes with the numbers behind it: the payment, the penalty and the total cost over the term. If your bank’s offer is the best one, that is what you will hear.
[ Documents to prepare ]
What lenders ask for, gathered before the file goes out.
The list varies with the file, but these documents come up almost every time. Having them ready from the start avoids weeks of back-and-forth.
- Notices of assessment for the last two years (Quebec and Canada)
- Pay stubs and job letter, or financial statements
- 90 days of down-payment statements (RRSP, FHSA, gift)
- Photo ID, current mortgage statement and tax bill
- Promise to purchase and listing sheet, if you have them
[ Frequently asked ]
The questions that come up most often
Does a broker’s service cost anything?
On the large majority of residential files, nothing: the lender pays the broker once the mortgage funds. Some files (private lending, commercial financing, unusual situations) can carry fees, and you are told before going any further.
When should I get prequalified?
Before you start viewing. You will know your maximum price, the down payment needed and the documents to gather, and the seller and their agent will take your offer more seriously.
Why compare more than the rate?
Because the penalty for breaking the term varies enormously from one lender to the next: three months’ interest at some, a rate differential based on the posted rate at most big banks. On the same mortgage, the gap can reach thousands of dollars.
How long does a file take?
A prequalification can be done in a few business days once the documents are in. For a full approval, it mostly depends on how fast the documents come in: a complete file from the start avoids the back-and-forth that adds weeks.
My bank turned me down. Is it worth trying elsewhere?
Often, yes. A bank decline sometimes comes down to a single criterion (self-employed income, credit score, type of building) that other lenders assess differently. Mathieu looks at the reason for the decline first, then tells you plainly whether the solution has a cost.
Do I need to come in person?
No. Mathieu works with clients across Quebec, in French and English. Meetings happen by phone or video call, and documents are exchanged online.
[ Next step ]
Describe your project, Mathieu gets back to you.
The form takes two minutes, even if a bank has already said no. You will know where you stand and what your file is missing.
Start my requestNo fee on most residential files · No obligation