Kitchener Waterloo Cambridge
Mortgage Advisors That You Can Count On

Q1 - 2024 Update:

With the recent drop of Bond Yields on Dec 1st 2023, it’s reasonable to predict the drop of the fixed interest rates.

The last few months of high interests rate have unfortunately forced some out of their homes, on the flip side it has dropped the market rate for homes by up to 20% in some areas.

With that in mind the timing is perfect to target a variable rate while the interest rate is still high but market cost is low. The actual interest payments will likely drop dramatically as the fixed and variable rates follow the bond yield drop prediction!

You don’t want to wait for the interest rates to drop too low as that will have the market cost jump back up to where it was mid 2023.

A Team of People That You Can Count On

Get Rates That Save You Money Long Term

Start the conversation and see exactly how you can save the most on your home & mortgage. Timing the market is a challenge to begin with, luckily speaking with a mortgage advisor can set you up to act quickly when the time is right!

Competitive Rates Available

Get Creative Answers

Sometimes the economy calls for creative answers to challenging questions. We know the market in the Tri-cities is tough to predict. Which is why we take a hyper-customized approach to every mortgage client that we work with. Utilizing all of your specific circumstances to save you more!

Call Today:

519-804-9990

“I was prepared to wait another 3 years before buying a house. Instead I chatted with Elie based on a recommendation. He was able to show me how interest rates, cost of home, and required down payment could be timed with the market. Now a proud owner of a home that will undoubtebly be worth $50k+ in the next 6 months.” - Zack P on Nov 24th

We're Here To Help

“Trying to buy my first home in Kitchener was a borderline nightmare. Elie made the Q&A feel like a real conversation. Speaking with someone who’s seen every scenario helped me see how many options I actually had.”

— GRFS MORTGAGE CLIENT

Waterloo Mortgage Broker’s Complete Guide and To-Do List to Mortgage Shopping

Before shopping for a new home, obtaining a pre-approved mortgage several weeks before potential closing is essential; additionally, it is recommended to explore the mortgage options provided by a mortgage brokerage firm like GRFS. Often you will find competitive rates with excellent terms provided by a mortgage brokerage firm like GRFS.

Often the mortgage rates advertised by your bank are higher than the rates that we at GRFS can offer as a mortgage broker. Also, you may be able to avoid restrictions on making lump-sum payments or high fees if you need to leave the mortgage before renewal.

Often you will find competitive rates with excellent terms provided by GRFS, a Waterloo mortgage broker who offers a breadth of mortgage services.

First Time Home Buyer Checklist:

  • Calculate how much you can afford to spend, know your current financial situation

  • Obtain your credit score from Equifax or allow GRFS to acquire it for you

  • Acquire a pre-approved for a mortgage before you start looking to purchase your new home

  • Obtain proof of income and employment history

  • Have proof of address and address history, including government-issued photo ID’s with current address

  • Access and provide details of current liabilities, such as credit cards, loans, and other financial obligations

  • Detailed info of your assets held in investments and savings accounts

  • Be prepared to provide proof of down payment, the amount, and source

  • Remember to have enough set aside for closing expenses for legal fees, mortgage and title insurance, and transfer taxes.

  • Budget for extras such as buying new appliances or condo fees if applicable

  • Research the meaning of mortgage contract terms as it applies to each specific company offering a lower rate. Know about:

    • Variable rates

    • Fixed rates

    • Open versus closed mortgage

  • Decide what you want or need in a home, size, location, special features, future family plans, new or previously owned

  • What form of homeownership do you prefer, condo, freehold, or leasehold

Current Home Owner Checklist:

  • Arrange to have your home appraised

  • Obtain your credit score from Equifax or allow GRFS to acquire it for you

  • Pull your tax and assessment info from the last two years

  • Obtain your household income statements

  • Assess your liabilities, such as credit cards and loans

  • Assess your assets held in investments and savings accounts

  • Have enough for a down payment on hand

  • Also, have enough set aside for closing expenses for legal fees, mortgage and title insurance, and transfer taxes.

  • Budget for extras such as buying new appliances or condo fees if applicable

  • Research the meaning of mortgage contract terms as it applies to each specific company offering a lower rate. Know about:

    • Variable rates

    • Fixed rates

    • Open versus closed mortgage

  • A line of credit works well if you are going to renovate prior to selling

Questions before getting started? Get in touch.