FrançaisFR
Mortgages
    Our Rates
      Resources
        Connect With Us

          It's never been so simple!

          For over 20 years we've been connecting Canadians with the best mortgages from the right brokers!

          Let's get going
          Let's get going
          Photo

          Renée Ross

          Mortgage Agent

          Lic # 10530

          rross@mortgagealliance.com

          Work

          (416) 878-4622

          Specialties: Residential Mortgages, Rental Property / Investment, Reverse Mortgages, First-time home buyer

          Apply Now

          About Me

          About Me
          Mortgage Alliance is the most recognized and trusted mortgage brokerage in Canada and as a Mortgage Alliance professional, I have the expertise to get the Right Mortgage for your immediate and future needs. I work for you, not the banks, and provide unbiased guidance in your mortgage decision. We work with over 60 lenders (some offered exclusively through brokers) so you have the choice, convenience and great counsel that you deserve!
           

          At Mortgage Alliance, our main objective is to deliver value to the mortgage consumer, and make sure that you get the Right Mortgage.

           

          Getting you the Right Mortgage means that we take the time to understand your situation and your needs, and use our expertise and knowledge to help you make the Right Mortgage decision. There are hundreds of different mortgage products out there - and the choices you make could save you thousands of dollars and take years off your mortgage. Let a qualified Mortgage Alliance Professional take care of you needs.

           

          • Choice... of over 60 lenders, from major banks to private sources.
          • Convenience... with one place to compare lenders and get the Right Mortgage for your needs.
          • Counsel... from an independent professional who works for you.

           

          When you use the Right Broker, you get the Right Mortgage.

          4 reasons why it's smart to use Mortgage Alliance Pro

          Check it out

          First-time home buyer

          Here’s to buying like a pro the first time!

          Buying your first home is one of the most important financial decisions you’ll ever make and getting the right advice from a mortgage professional is a great way to start.

          Before you start looking for your dream home, your Mortgage Alliance professional can help you find out how much you can qualify for so you can shop with confidence. They’ll explain the process and even assist in getting you a mortgage pre-approval so you can take advantage of today’s low rate environment by locking in today’s rate for you for a set period of time, typically 90 to 120 days.

          Understanding your down-payment options is important as you get ready to buy your first home. This is right time to consult with your mortgage professional who can explain the requirements and options available to first-time buyer only when it comes to down-payment. Generally, the min down-payment required depends on the purchase price with the min being 5% down. For homes $500,000 and under 5% down is the min required. For homes over $500,000 but less than $1 million, you need 5% down-payment on the first $500,000 and 10% for any amount over that. If your purchase price is $1 million or more, a minimum 20% down-payment is required. Mortgages with less than 20% down are subject to default insurance which is usually added to the mortgage amount.

          At Mortgage Alliance, we work with over 60 lenders from major banks to private lenders. Your mortgage professional gives you access to multiple lenders and finds the right mortgage for you with only one application. They help you navigate the process, explain your options and present you with mortgage solutions that best meet your need. Having the right combination of mortgage features, privileges and rate is key. The right mortgage goes beyond just the rate--it's important to also consider term, prepayment options, refinancing penalties, restrictions, and fees.

          Your mortgage professional will not only find the right mortgage for you but also provide strategies to help you pay your mortgage off faster and shave thousands off interest costs in the process.

          Reverse Mortgages

          If you’re a homeowner over the age of 55 and want to tap into your home equity, a reverse mortgage can be the right solution for you. A reverse mortgage is also known as an “equity release”. With a reverse mortgage, you can access up to 55% of the equity in your home tax-free as a lump sum or monthly cash deposits. The maximum amount you are able to borrow will depend on your age, your home’s appraised value, and our lender. No mortgage payments are required and you maintain ownership of your home. Repayment of the loan and interest is only required once you move or sell the home. At the end of your loan term, you may have less equity in your home. If you don’t make any payments, which is fine, you may have a larger interest payment to make when the home is sold.

          A lender will often ask you to consult a lawyer prior to giving you a reverse mortgage to ensure you understand the conditions of the mortgage. The lender can never force you to sell your home to repay the reverse mortgage. It is also important to note that all existing loans on the property, including a mortgage or a home equity line of credit must be paid off prior to getting the mortgage.

          Whether you’re looking for a financial cushion to live comfortably, funds to cover monthly expenses, pay off debt, renovate or fund your children’s education, you can use the funds from a reverse mortgage in any way you want without restrictions! What’s more, is if the home goes up in value, it doesn’t affect the reverse mortgage, meaning that all equity gained is yours! Lastly, you can get out of a reverse mortgage at any time by paying off the loan and any interest accrued.

          Have a discussion with your mortgage professional to find out if a reverse mortgage is the right solution for you.

          Rental

          Are you considering buying a multiplex property in the near future to enter the rental market? While this type of investment is a great way to diversify your income and put money aside, it is important to be well prepared. Buying income-producing real estate is more than an investment, it also means starting a business. But where should you begin? Before you get started, it is important to quantify and analyze the financial implications to ensure that your project is viable and profitable. The return on investment is calculated by subtracting the operating expenses from your income. This amount is then divided by the down payment on the building. The percentage obtained represents the annual return, which should ideally be higher than the mortgage rate.

          Another aspect to consider is your ability to manage risk. Rental real estate does not guarantee constant profits, so it is important to assess your tolerance for risk and financial uncertainty.

          The financial aspect is not the only aspect to consider. When entering the rental real estate market, you have to manage tenants and take care of the building maintenance. It is therefore important to be familiar with tenants’ rights in Québec and to have an interest for manual work. This will greatly help!

          The down payment required for your project will depend on the number of units in your plex and whether you want to live in the building. Usually, you need a down payment equal to 20% of the property value. However, if you intend to live in one of the two apartments of a duplex, the required down payment is 5% and that will increase to 10% in the case of properties with 3 or 4 units.

          Mortgage Alliance brokers are there to help you make the right decisions. They can give you advise and guide you through the investment process. Contact us today to start making your project a reality.

          Rent-To-Own

          Rent-To-Own

          Affordability & Payment Calculators

          Affordability & Payment Calculators

          Get Pre-Approved In Seconds NOW!

          Get Pre-Approved In Seconds NOW!

          Today's Mortgage Alliance Exclusive Rates

          As of May 20, 2022

          Click to secure the rate

          Showing the best rates in:

          Rates may vary provincially and are subject to change without notice OAC.

          Tell us what you're looking for and we'll find the right mortgage for you!
          Apply Now
          background image

          Sign up for my Newsletter

          Sign up for free