Frequently asked questions
First-time buyer, renewing or refinancing, we're here to guide you every step of the way. Don't see your question? Call us. That's what we're here for.
Can I use a broker if my bank would approve me anyway?
Yes, and most of our clients could. Your bank can only offer its own products. We compare rates and terms from 20+ lenders, do the paperwork and negotiating for you, and you deal with one local team that picks up the phone.
What if a bank already turned me down?
One lender's no is one lender's opinion. Self-employed income, bruised credit and high debt are situations we work with every day, through alternative and private lenders when traditional ones won't fit.
Does it cost anything to use a mortgage broker?
For most residential mortgages, no: the lender pays the broker once your mortgage funds. If a file requires a fee, for example some private mortgages, we tell you up front and in writing before you commit.
Should I choose a fixed or variable rate?
It depends on your situation and goals. A fixed rate stays the same for the whole term, so your payments are predictable. A variable rate can change with the market. If you value stability, fixed may suit you; if you're comfortable with some uncertainty and want to benefit from potentially lower rates, variable could be a good option. We'll help you weigh it against your budget and current market conditions.
What is a subprime mortgage?
A home loan for borrowers with lower credit scores or limited credit history who may not qualify for traditional mortgages. Rates are typically higher and there may be extra fees or requirements, but it can be a path to owning a home or getting back on track. We'll help you understand the terms before you decide.
When is the right time to refinance?
Common reasons are a lower rate, lower monthly payments, moving from a variable to a fixed rate, or using your equity for other expenses. Weigh current rates, your mortgage terms and any penalties or fees against the benefits. We start every refinance with a thorough analysis so you know whether it makes sense.
Where do you work?
We're based in Waterloo Region and work with clients across Kitchener, Waterloo, Cambridge, Guelph and surrounding areas, and throughout Ontario. Most files are handled by phone, email and e-signature, so you rarely need to visit.
When can I reach you?
Monday, Wednesday and Friday 8 am to 8 pm; Tuesday and Thursday 10 am to 8 pm; Saturday 10 am to 5 pm. Call (519) 501-7758 or book a free consultation online any time.
“The team at CVE Mortgage Group Inc. — and specifically Colin — have provided excellent service and insights into the mortgage market. They are always quick to respond to questions in a professional manner and it is clear that they put client service first. A true delight to work with!”Andrew E · Homeowner
Book a free consultation
Tell us a little about your situation. A real person from our team will call you back, usually the same day during office hours.