Burlington, Hamilton, Oakville, Mississauga and Toronto Mortgage Brokers | Loewen Group Mortgage Professionals

Talk to our Mortgage Experts Today (289) 337-4029

Proudly serving Halton & GTA

WE’RE MORTGAGE BROKERS WORKING WITH YOU. FOR YOU.

As your brokerage, we represent YOU our amazing client. Our mission: to review your needs, existing offers, educate you on alternatives and ultimately assist you on selecting the right lender and term to meet your home ownership goals.

Our team works with you to develop a strategy that works for you and we’re not driven by any 1 bank or lenders bottom line. With over 34 lenders in our pocket our only job is to help your hard earned money stay in yours – that’s the Loewen Group Difference.

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This free guide to mortgage shopping will give you the questions you need to ask when you are shopping for a mortgage. There is more to a mortgage than just rate, these questions are intended to educate you on what you need to know about mortgages before you buy your new home.

Some of the topics covered:

  • Standard vs Collateral charge mortgages
  • Mortgage penalty calculations
  • Renovations included with your mortgage
  • Does accelerated bi weekly payments really save money


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Loewen Group Reviews

Chris Abbott
Chris Abbott

5 out of 5 stars

posted 1 week ago

As a full time Realtor servicing the Oakville and Burlington marketplace, I have had the pleasure and opportunity to work alongside James Loewen and his staff of trained professionals. What I particularly appreciate when referring James to my clients is his attention to detail, his depth of knowledge and his ability to tailor-fit financial solutions to the client's specific needs. From the initial consultation through to the completion of the transaction (and beyond), James and his team are there for you to provide an efficient experience that feels 'easy'. There are many choices available to consumers when seeking out mortgage professionals- why not go for the choice that offers you the most value and provides the perfect solution for your needs? Give James and his team a call- you won't be disappointed!

Andrew McCarthy
Andrew McCarthy

5 out of 5 stars

posted 1 week ago

Luckily I was referred to James from a friend as "the only guy to work with" before looking into a mortgage for a first home. As a pretty intimidating endeavor for us, James has made the process unbelievably welcoming and understandable.

From the first point of contact it was clear that James only had our best interests in mind. I can't say enough about James and his group in my experiences with them so far. I've only just begun the process but am super excited knowing that James and his team has our back.

Like I said, I'm new to this, but it seems like he and his team are really the only way to go when working out the details of a mortgage.

Thanks James,
Andrew

Remember to bring these important documents with you!

Speed up the approval process and be prepared for the application process.

We have put together a list of documents needed from you when applying for financing through the Loewen Group.

 

Proof of Down Payment

  • If your down payment is coming from savings, a lender will want statements proving that the funds have been accumulated over at least three month’s time.
  • If your down payment is a gift, provide a statement showing the funds deposited into your account, and get a signed gift letter.
  • If your down payment is coming from the sale of another property, provide a copy of the final sale agreement for that home, as well as its most recent mortgage statement.
  • If you are borrowing from a secured line of credit (LOC), you need a copy of the LOC statement showing the funds being withdrawn.
  • If you’ve put down a deposit on the property, provide a deposit receipt, plus statement(s) showing the deposit funds being withdrawn from your bank account.

Tips

  • Bank or financial statements must always show your name, account number and dates.
  • Gifted down payments must generally be from a parent, sibling or grandparent. Otherwise the money may be considered borrowed funds, which may affect your ability to qualify.
  • Online statement printouts are fine, as long as all info appears on one page, or if multiple pages, the account number appears on every page.

MLS Listing

  • Either an online or Realtor copy is fine.
  • If you bought your home on a private listing website (like propertyguys.com), provide that listing instead

Signed Purchase Agreement

  • You’ll need to provide the final purchase agreement signed by all parties, with all conditions waived.

Tips

  • Make sure it’s legible, all dates are entered and all witness lines have signatures.

.

Identification

  • Copy of driver’s license, passport, or other government-issued photo ID (but not a Health card)

Tips

  • All ID text, photos and numbers must be clearly visible

Income Verification

  • If your income is salary or wages, provide:
    1. A recent pay stub showing the pay date, pay amount, your name and the employer’s name
    2. A job letter. Job letters should be on company letterhead and show your start date, position, guaranteed salary/wages, and a human resources contact with phone number.
  • If any of your income comes from a bonus, commissions, overtime, a contract, gratuities or investments, provide the most recent two year’s Notice of Assessments (NOAs) from Canada Revenue Agency (CRA).
  • If you are self-employed, provide:
    • The most recent two year’s NOAs
    • Your business license, articles of incorporation, or GST registration number
  • If you earn rental income, provide a copy of each lease, as well as either:
    • A Canada Revenue Agency T776 Statement of Real Estate Rentals, or
    • Two year’s of T1 generals (personal tax returns), or
    • Two year’s of NOAs
  • If you earn Alimony/Child Support, provide NOAs and the full separation/support agreement.
  • If on maternity/paternity leave, ensure your job letter shows the return date and salary/income upon return.

Tips

  • Self-employed applicants may have to show two years of unaudited accountant-prepared financials, depending on the lender and circumstances.

Void Cheque

This cheque is used by the lender to deduct payments from.

Income Verification

  • If your income is salary or wages, provide:
    • A recent pay stub showing the pay date, pay amount, your name and the employer’s name
    • A job letter. Job letters should be on company letterhead and show your start date, position, guaranteed salary/wages, and a human resources contact with phone number.
  • If any of your income comes from a bonus, commissions, overtime, a contract, gratuities or investments, provide the most recent two year’s Notice of Assessments (NOAs) from Canada Revenue Agency (CRA).
  • If you are self-employed, provide:
    • The most recent two year’s NOAs
    • Your business license, articles of incorporation, or GST registration number
  • If you earn rental income, provide a copy of each lease, as well as either:
    • A Canada Revenue Agency T776 Statement of Real Estate Rentals, or
    • Two year’s of T1 generals (personal tax returns), or
    • Two year’s of NOAs
  • If you earn Alimony/Child Support, provide NOAs and the full separation/support agreement.
  • If on maternity/paternity leave, ensure your job letter shows the return date and salary/income upon return.

intelliTips

  • Self-employed applicants may have to show two years of unaudited accountant-prepared financials, depending on the lender and circumstances.

Your Most Recent Mortgage Statement

Must show your name, property address, balance or original mortgage amount, and monthly payment.

A Void Cheque

For the lender to deduct payments

Identification

  • Copy of driver’s license, passport, or other government-issued photo ID (but not a Health card)

Tips

  • All ID text, photos and numbers must be clearly visible

Your Most Recent Mortgage Statement

Must show your name, property address, balance or original mortgage amount, and monthly payment.

Identification

  • Copy of driver’s license, passport, or other government-issued photo ID (but not a Health card)

Tips

  • All ID text, photos and numbers must be clearly visible

Income Verification

  • If your income is salary or wages, provide:
    • A recent pay stub showing the pay date, pay amount, your name and the employer’s name
    • A job letter. Job letters should be on company letterhead and show your start date, position, guaranteed salary/wages, and a human resources contact with phone number.
  • If any of your income comes from a bonus, commissions, overtime, a contract, gratuities or investments, provide the most recent two year’s Notice of Assessments (NOAs) from Canada Revenue Agency (CRA).
  • If you are self-employed, provide:
    • The most recent two year’s NOAs
    • Your business license, articles of incorporation, or GST registration number
  • If you earn rental income, provide a copy of each lease, as well as either:
    • A Canada Revenue Agency T776 Statement of Real Estate Rentals, or
    • Two year’s of T1 generals (personal tax returns), or
    • Two year’s of NOAs
  • If you earn Alimony/Child Support, provide NOAs and the full separation/support agreement.
  • If on maternity/paternity leave, ensure your job letter shows the return date and salary/income upon return.

intelliTips

  • Self-employed applicants may have to show two years of unaudited accountant-prepared financials, depending on the lender and circumstances.

A Void Cheque

For the lender to deduct payments

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Calculator Corner

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Here is a quick list of the available calculators:

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© 2015 Loewen Group in association with Serious Monkey. James Loewen Lic. # M0800338, Loewen Group LIC#12268.

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Hours Of Operation

Monday - Friday: 9am - 7pm
Saturday & Sunday: By Appointment

Location

5044 Fairview St,
Burlington, ON
L7L 0B4

Contact

Office: (289) 337-4029
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