At Boost Mortgages, our comprehensive suite of services is designed to assist you achieve your financial goals, whether it’s homeownership, property investment, or optimizing your existing mortgage; we got you covered!
Products & Services
Boost Mortgages is able to assist with a diverse range of mortgage needs, including but not limited to:
Discover a world of mortgage solutions at Boost Mortgages. Whether you’re a homebuyer looking for your dream property or a business owner seeking to invest in commercial real estate, our tailored mortgage options have you covered.
- Residential Mortgages: If you’re a first-time homebuyer, looking to upgrade to a larger home, or even just refinancing your existing mortgage, Boost Mortgages connects you with licensed professionals who can navigate the residential mortgage landscape.
- Commercial Mortgages: For businesses seeking financing for commercial properties, Boost Mortgages offers expert guidance. Our platform matches you with professionals experienced in commercial mortgage solutions tailored to your business needs.
At Boost Mortgages, we offer comprehensive refinancing solutions tailored to meet your unique financial goals. Whether you’re looking to secure a better rate, lower your monthly payments, or access equity in your property, our refinancing options streamline the process, ensuring a hassle-free experience.
- Residential Refinancing: Explore refinancing options for your residential property with Boost Mortgages. Whether you’re a homeowner looking to reduce your monthly payments, consolidate debt, or tap into your home’s equity, our expert team can guide you through the process with ease.
- Commercial Refinancing: For businesses seeking to optimize their cash flow or leverage their property’s equity, Boost Mortgages offers specialized refinancing solutions for commercial properties. Our experienced professionals will work with you to secure favorable terms and ensure a seamless refinancing process tailored to your business needs.
Boost Mortgages provides flexible second mortgage solutions designed to help Ontario residents access additional funds based on their property’s equity. Whether you’re looking to invest in a new venture or cover unexpected expenses, our second mortgage services offer tailored solutions to meet your financial needs.
- Residential Second Mortgages: Unlock the equity in your home with Boost Mortgages’ residential second mortgage services. Whether you’re planning home renovations, consolidating debt, or pursuing other financial goals, our team can help you leverage your property’s equity to achieve your objectives.
- Commercial Second Mortgages: For business owners seeking capital to expand operations or invest in new opportunities, Boost Mortgages offers specialized second mortgage solutions for commercial properties. Our experienced professionals will work closely with you to structure a second mortgage that aligns with your business objectives and financial requirements.
Boost Mortgages helps first-time buyers in Ontario access government programs and incentives designed to support homeownership. We guide you through available options and eligibility requirements.
NOTE:
As of March 21, 2024, Canada’s housing agency has officially ended its first-time homebuyer incentive program. This program, aimed at reducing monthly mortgage payments by involving the government in partial property ownership, faced challenges with eligibility criteria and overall effectiveness.
However, The Home Buyers’ Plan (HBP) remains available and offers significant advantages for those entering the housing market. With the HBP, eligible individuals can contribute up to $35,000 to their RRSP, potentially receiving a substantial tax refund. Moreover, participants can withdraw the initial amount tax-free for their home purchase, providing more flexibility in financing. Repayment is structured over 15 years, making it a manageable option for first-time buyers.
Contact us for more information.
Bridge the gap between property purchases with our short-term bridge loans. Ensure a seamless transition when buying a new property before selling your existing one in Ontario.
Our HELOC services empower Ontario homeowners to tap into their home equity for various financial needs. Whether it’s home improvements or debt consolidation, we offer flexible solutions to suit your goals.
Ensure your mortgage is protected with mortgage insurance services from Boost Mortgages in Ontario. We facilitate mortgage insurance, including CMHC insurance, where needed.
We assist Ontario homebuyers with high-ratio mortgages, providing access to financing options with down payments of less than 20%. Our experts guide you through the process, including mortgage default insurance requirements.
Our non-qualified mortgage alternatives are designed to help borrowers in Ontario who don’t meet traditional qualification criteria. Explore options like bank statement loans or asset-based loans for alternative financing.
Boost Mortgages specializes in construction loans for new residential and commercial properties in Ontario. Our short-term financing options cover construction costs, making your project a reality.
Our jumbo loan solutions cater to luxury property purchases and real estate investments in Ontario. We offer financing for high-value residential properties that exceed standard loan limits.
Our Process
By simplifying the mortgage process, we can make things more straightforward.
It’s easier than you think!
Our hassle-free process ensures that your mortgage needs are met efficiently and with the utmost care. Whether you’re a first-time homebuyer, a real estate investor, or seeking to refinance, our comprehensive services are designed to simplify your real estate journey.
Let’s help you achieve your financial goals; take a look at our 5 step process below and contact us today.
Core Benefits
Explore how Boost Mortgages can help you take control of your financial future.
Boost Mortgages opens the door to a vast and diverse network of reputable lenders, significantly enhancing your opportunities for securing the most favorable rates and approvals. We understand that each borrower has unique financial circumstances and specific requirements. That’s why our priority is to connect you with the lenders that best align with your needs. In the world of mortgages, not all lenders are created equal so understanding the distinctions between them can empower you to make informed decisions about your financing options. Boost Mortgages is committed to connecting you with the right lender to suit your specific needs.
Traditional Lenders
A traditional lender typically refers to a bank or financial institution that offers mortgage loans using standard underwriting criteria and traditional loan products. These lenders often have brick-and-mortar locations and follow traditional lending practices, such as requiring a down payment, verifying income and credit history, and offering fixed or adjustable-rate mortgages.
Banks: Chartered Banks are currently Canada’s largest single source institution mortgage funds. Their dominance results from their significant market share in the residential mortgage field; their activity in non-residential mortgages, such as mortgages for commercial buildings, is not as dominant. At the end of Q2 2019, banks held about 74.5% of total residential mortgages.
The Bank Act recognizes an governs three distinct types of banks:
- Schedule I banks have widely held shares (by individuals who purchased shares on stock exchanges and by groups such as mutual funds and pension funds), with no shareholder permitted to own more than 10% of the bank’s shares. These domestic banks are authorized under the bank act to accept deposit which may be eligible for Deposit Insurance provided by the Canadian Deposit Insurance Corporation (CDIC).
- Schedule II banks are more closely held either by a foreign bank that is a parent company or by related financial institutions (such as American Express is ownership of the Amex Bank of Canada). They are also authorized under the bank act to accept deposits.
- Schedule III banks are foreign bank branches of foreign institutions authorized under the bank act to do banking business in Canada, though under restrictions.
Trust Companies: Trust companies can be incorporated and regulated at federal or provincial levels. By law, only trust companies are allowed to provide trustee functions (holding, managing or investing assets for the benefit of another person), which is what gives them their name. While a bank has full commercial lending powers, trust companies must have more than $25 million of regulatory capital to receive full powers with the approval of the Office of the Superintendent of Financial Institutions (OSFI).
Credit Unions: Credit unions differ from banks and trust companies because they are regulated entirely at the provincial level. Credit unions are a cooperative of individual branches composed of members who deposit and borrow funds from their organization. Some credit unions are general, serving a specific area, much like a bank or Trust Company. In other cases, membership is often based on a common bond of association, such as profession, place of employment, geographic community, religion, or cultural background.
Life Insurance Companies: For many years, life insurance companies were Canada’s most important source of Canada’s mortgage financing. Their large size and significant assets allowed for economies of scale in the administration of mortgage portfolios. In addition, because of the long term nature of their liabilities (the money they would eventually pay out to holders of insurance policies) and their annual net inflow of funds from premiums, they were traditionally not very concerned with liquidity (the ability to convert assets quickly and efficiently to cash). This enabled the insurance companies to seek out higher interest rates on mortgages.
Finance Companies: Finance companies in Canada can be specialized by either their activity or the industry in which they operate or be more broadly diversified. Examples of finance companies are Capital Direct, Fairstone, MCAP or First National; companies who specialize in financing and lending solutions.
Non-Traditional & Private Lenders
Non-traditional and private lenders serve as alternative sources of financing for mortgages. In contrast to traditional lenders like banks and credit unions, non-traditional lenders encompass online mortgage lenders, mortgage brokers, private individuals, or MICs (Mortgage Investment Corporations), companies that extend loans outside the conventional financial system. These lenders often provide more flexible terms, alternative underwriting criteria, and unique loan products tailored to borrowers who may not qualify for traditional mortgage financing due to factors such as credit history, income sources, or property type.
Whether you’re navigating a complex financial situation or simply seeking a mortgage that perfectly fits your goals, we’ve got you covered. Our extensive network ensures that you not only have more choices but also better prospects for getting your mortgage approved. With Boost Mortgages, you’ll discover a world of possibilities, where your mortgage options are tailored to your specific situation, giving you the advantage.
We take pride in connecting you with a network of highly qualified, licensed, and ethical mortgage professionals. These experts serve as your trusted companions throughout your entire mortgage journey. They understand the intricacies of the mortgage landscape and can navigate you through the complexities with ease. From explaining the nuances of various mortgage options to ensuring you make informed decisions, our experts have your best interests at heart. With Boost Mortgages, you can rest assured that you have a knowledgeable partner by your side every step of the way, empowering you to make confident choices.
At Boost Mortgages, we understand that your time is valuable. Our mortgage brokers provide the flexibility to accommodate your schedule, going the extra mile to ensure your convenience. Many of our dedicated brokers are available outside of regular business hours and even on weekends. This commitment to flexibility means you can collaborate with a broker at a time that suits you best. We believe in making the home-buying process as convenient as possible, and our flexible approach is a testament to that commitment.
We understand that navigating the mortgage landscape can be overwhelming and that’s why we’re here to simplify process for you. We’re here to reduce the burden of finding the right Mortgage professional and make your experience hassle-free. We do the heavy lifting by leveraging our extensive network of licensed and ethical Mortgage professionals, ensuring that you’re always connected with someone who specializes in your unique needs. Our streamlined approach takes the stress out of securing the ideal mortgage solution. Experience a simplified process that empowers you to make confident decisions and propels you toward your financial goals with ease.
With Boost Mortgages, you can experience true peace of mind. Our dedicated team takes care of all negotiations, paperwork, and coordination on your behalf. You can trust that every detail is handled with precision and expertise, allowing you to focus on your financial goals without the stress of complex mortgage processes. Our commitment to providing you with the highest level of service ensures that you can move forward with confidence, knowing that you’re making the right decisions for your real estate investments. Say goodbye to worries and uncertainties, and embrace the peace of mind that comes with partnering with Boost Mortgages.
We provide you with the knowledge, resources, and expert guidance needed to make informed choices, ensuring you can confidently achieve your mortgage goals. Our commitment to your financial well-being means that you’re never left in the dark. We’ll equip you with the understanding and tools necessary to navigate the complex mortgage landscape with confidence. With Boost Mortgages, you’re not just a client; you’re an empowered partner on the path to realizing your real estate dreams.
Searching for a mortgage can be overwhelming and time-consuming. At Boost Mortgages, our licensed and trusted mortgage professionals streamline this process, ensuring you save significant time and effort. Our brokers, all in good standing with industry regulators, conduct thorough research, gather required documents, and present tailored mortgage options that align perfectly with your needs. Trust us to guide you through your mortgage journey with confidence.
Not everyone’s financial journey is the same. That’s why our brokers go the extra mile to ensure mortgage accessibility for all. If you’re facing credit challenges or have unique financial circumstances, our expert brokers have your back. They specialize in connecting borrowers with lower credit scores or distinctive financial backgrounds to lenders who are open to working with you. With our support, you’ll gain access to mortgage options tailored precisely to your unique needs, ensuring that your homeownership or real estate investment goals remain within reach. We’re here to break down barriers and empower you to secure a mortgage solution that fits your financial story.
When it comes to your mortgage, having a seasoned professional on your side can make all the difference. Boost Mortgages connects you with experienced mortgage brokers who excel in negotiation. With their wealth of experience, our brokers work diligently to secure the most favorable interest rates and mortgage terms, all while advocating for your best interests. Leveraging strong relationships with a variety of lenders, our brokers negotiate effectively, aiming for optimal terms on your behalf. This not only ensures that you obtain a mortgage tailored to your needs but also potentially leads to substantial savings over the life of your mortgage. Trust in our experts to negotiate expertly, bringing you peace of mind and financial benefits that extend beyond the closing table.
