Saif Abdulah is the best mortgage agent in Ontario offering end-to-end mortgage solutions with thousands of happy customers in his portfolio.
Besides Ontario, Saif also operates in more than 15 Canadian cities with an array of mortgage solutions offered with the utmost professionalism to customers belonging to all categories. He makes sure the dream of buying a house for every individual in Ontario is fulfilled with custom-made mortgage solutions.
Saif is a sought-after best mortgage broker in Ontario. As a pure professional he has loads of insights and advice to clients in the matter of mortgage loan selection and application processes.
Complete Mortgage Solutions
In Ontario, Saif offers complete mortgage solutions including these notable ones.
- Mortgage renewals
- Debt consolidation
- Home equity loans
- First time home buyers
- New to Canada
Saif has one of the biggest networks in Ontario to provide a wide range of mortgage solutions at the lowest possible rates.
Best Mortgage Agent in Ontario
Saif Abdulah earned recognition as the best mortgage broker in Ontario because of service quality that brings access to a large number of mortgage lending institutions, including banks, trust companies and credit unions.
Saif has employed the best mortgage experts in his Ontario team with a vast number of products such as first-time homebuyers, mortgage financing of the self-employed, refinancing, equity takeouts, debt consolidations, mortgage transfers and mortgage switches.
The synonym Ontario Best Mortgage Broker is an index of Saif professionalism. It is an amalgam of high customer satisfaction, responsiveness, and extreme professionalism from start to finish for all types of customers including the first-time home buyers.
Mortgage loans in Ontario are backed by home as an asset and deemed less risky for banks. Lower interest rates are justified as a house is always an appreciating asset.
Testimonials attest that Saif is the best for anyone looking for a mortgage product and is planning to purchase a home in Ontario province.
The best part of Saif and his team is that they have won the trust of homebuyers in Ontario as the very first meeting becomes an opportunity to have things well explained and a sense of assurance that Saif and the team will walk them through the mortgage process and get a good deal.
Saif professionally explains the availability of mortgage products in Ontario and the requirements and initiative needed for a competitive rate for the home purchase.
Mortgage pre-approval: For home buyers and mortgage aspirants in Ontario, mortgage pre-approval is a crucial first step in the home-buying process.
The pre-approval consultation in Ontario gives the idea how much to spend on buying a home within the available resource limits, how to get a low-interest rate offer and qualify the eligibility criteria. It also reveals whether the aspirant has the credentials and capacity for a mortgage loan.
Lenders in Ontario have to be convinced about three things for a mortgage pre-approval. Foremost is a good credit score. This is obtained by scanning credit habits and credit history to assess if the applicant can sustainably service a mortgage loan in Ontario.
The Ontario mortgage lenders will also want to see where he stands in a scale of 300-900 on the score card. Rating looks at financial health and risk level posed to the lender. In this employment history is a key determinant.
Lenders in Ontario will also examine the list of past employers, the length of service with current employer, annual salary and take-home pay. This is to make sure the mortgage aspirant has been consistently earning money with no gaps in income and can make regular mortgage payments.
The data for the credit rating analysis in Ontario will include income tax records, bank statements, current debt amounts such as credit card balances, car loans, student loans and other lines of credit. Many mortgage lenders offer an online mortgage pre-approval platform.
New to Canada mortgage: The services of Saif in Ontario stand out with an elaborate programme supporting New to Canada mortgage customers. The newcomers require ample due diligence. The category is unique with special privileges like exemption from income verification and amortization up to 30 years with a 35 percent down payment.
The Ontario consultancy explains the road to eligibility to those with work permit, study permit, permanent resident card as avenues of eligibility for new to Canada mortgages.
The mortgage agency services of Saif in Ontario are marked by discipline, experience and knowledge. His ability to explain the intricacies of mortgage laws make aspirants happy, comfortable as he takes out anxiety and instils confidence to pass through all stages of the mortgage process for the best deal.
First Time Home Buyer Ontario: There are various programs to assist first-time homebuyers such as Home Buyers’ Amount tax credit program, Home Buyers’ Plan and First-Time Home Buyer Incentive.
Saif explains the products’ leverage well to the benefit of customers for an appropriate selection in Ontario. Mortgage loan insurance protection will be required only if the down payment is less than 35 percent. There are many companies offering mortgage loan insurance products including the Canada Mortgage and Housing Corporation.
Self-employed mortgage: Like other parts of Canada, Ontario has a sizable number of self-employed mortgage applicants. The segment faces many challenges to obtain a mortgage and good consultancy support is a must.
Saif in Ontario makes sure all the pain points are addressed. Their financial documents of self-employed can be tactical to minimize taxes and skewed proof of cash inflow may not be palatable to many lenders.
So, the paying capacity has to be conveyed to the Ontario lenders for winning a suitable mortgage product. For self-employed mortgages, many Ontario lenders seek personal tax notices of assessment of past several years along with the mortgage application submitted.
Debt Consolidation: Saif in Ontario offers support to consolidate high-interest debts like credit card liabilities, auto loans and personal loans into a single low-rate mortgage loan. The consolidated debt as a secured loan will be backed by equity in property with very low-interest rates than other personal loans with a reduced monthly payment as a big relief.
Mortgage Renewal: When the mortgage term is about to end and some balance is still left there is the option to renew the mortgage for a further term. Such mortgage renewals in Ontario give the opportunity to assess the gains from the current mortgage and also help in new financial goals.
The Ontario mortgage holder will get a renewal slip from the lender that must be signed and sent back. The process starts some 4 months prior to the expiry of a mortgage in Ontario.
Saif bats for better deals in mortgage rates, prepayment options and other favourable conditions to obtain a fair mortgage renewal package in Ontario.
Second mortgage: A second mortgage in Ontario is a second loan on a mortgaged home. The borrowing limit can go up to 95 per cent of the property’s appraised value in some cases after deducting the balance on the first mortgage. The loan secured against home equity has the condition of servicing the first and second mortgage at the same time.
Saif also offers the best advice on increasing Home equity for Ontario home buyers. Home equity is the difference between the home’s market value and outstanding liability on the mortgage. If a home is worth $250,000 and the mortgage liability is $150,000, the home equity will be $100,000.
But the risk is big in case of mortgage loan defaults, as the home will be sold off to recover the first and second mortgages. Interest rates on second mortgages can be a bit higher than first mortgages because of the risks involved.
Refinancing of a Home
This second mortgage in Ontario is also called refinancing of your home. Irrespective of the interest rates on a refinanced mortgage, any new mortgage must have separate loan insurance in Ontario.
Saif extends good negotiation skills in Ontario if the lender wants to change the terms of the original mortgage agreement.
Variable or Fixed-rate Mortgage
All homebuyers and mortgage shoppers will battle the dilemma of fixed-rate Vs variable rate choice in the mortgage deal. In Ontario, fixed mortgage rate has the monthly payment staying the same for the entire mortgage period.
In variable-rate mortgages, the interest rate fluctuates depending on the market conditions that influence the prime lending rate of the bank.
Alternative mortgage lending also called as private lenders are a useful source of funds if traditional lenders reject mortgage applications. Ever since the 2016 mortgage stress rule came into force private lenders have expanded in Ontario winning a larger number of customers. They have now captured a good chunk of the mortgage market with liberal offers like high mortgage value and exciting interest rates in Ontario.
Private lenders in Ontario also go easy on applicants having bruised credit scores and benign on self-employed who rely on side hustles, rental income, and many non-traditional income sources.
If a mortgage application is rejected by a traditional lender in Ontario the alternate ways are a relief to get the mortgage to create more happy homeowners.
At present, Canada has nearly 15 per cent of mortgages is passing through the hands of alternative lenders including Ontario. The hassles are less as paperwork is minimal and need only 6 months of bank statements unlike two years of T4 papers sought by big lenders.
In the entire mortgage documentations in Ontario, Saif stands with clients like a rock with sustained due diligence and round the clock support.
- Do you offer reverse mortgage services in Ontario to support senior citizens?
Saif and team offer a comprehensive set of mortgage solutions including reverse mortgage consultancy.
- What are the types of lenders you work within Ontario?
Saif Abdullah has been the best interface between top lenders including banks, credit unions, mono lenders and private lenders. He will ensure mortgage aspirants find the best lender as the right fit for a client’s financial situation and interest-rate needs. Care is taken to match the lender’s rates with the client’s affordability and financial background.
- How quickly can you complete the mortgage closure in Ontario?
The average turnaround time ranges from 10 to 20 days and in some cases involving private lenders, the mortgage deals are clinched in the shortest possible time of 24 hours.