Karen Monteiro - Mortgage Broker at Mortgage Alliance in Cambridge, ON

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Karen Monteiro

Mortgage Broker

Lic # 13121

Greater Golden Horseshoe



(519) 624-9222

Languages: English

Specialties: Residential Mortgages, First-Time Home Buyer, Self Employed, Reverse Mortgages, Alternative Lending

Independently owned and operated company of the Mortgage Alliance network.Apply Now

About Me

About Me

I have been in the mortgage and real estate industry for over 25 years and a Broker /Owner since 2004. In my previous life I have worked as a Restauranteur (15 years) and a Registered Nurse (5 years). In 1996, I decided to join my husband, Walter, in the real estate and mortgage business (who has been at it since 1987) to help him out with his crazy schedule and much to my surprise I found my passion.

I have always enjoyed working with people, educating my clients and helping save people money so that they can reach their financial goals sooner. I truly care for my clients and their family's well being so that their quality of life is the best it can be. I work for you, NOT the Banks and believe that each client deserves the Right Mortgage. I want you to find the home of your dreams even if it takes months. I am a no pressure sales person but will remind you if you are passing up a good deal.

I believe in continuing education and I constantly attend seminars, webinars etc. to keep up with the real estate and mortgage industry so that I can serve my clients better. I have achieved the designation of Accredited Mortgage Professional (AMP), and am asked by the lenders to be on many industry panels . I am well versed in real estate investing as well as using your RRSP's to invest in mortgages, which again helps those clients that qualify, reach their financial goals. I also use these methods myself as I like to practice what I preach! In 2017 I became an REIA (Real Estate Investment Advisor) with REIN .

I am a Real Estate Broker with The Maximum Results Team working with Remax Real Estate Centre Inc., Brokerage, in Cambridge, providing a one stop shop for all of our client's real estate and mortgage needs. I served as President of the Cambridge Real Estate Board for 2011-2012 term.

Our Mortgage Office has received the Reader's Choice Diamond Award in 2008 through to 2020  for Best Mortgage Broker and Best Mortgage Brokerage . I am in the President's Club which is the Top 5% of agents in the Mortgage Alliance Network across Canada and in the Top 5 for SWO. 

I love what I do and hope to be able to help you and your family achieve the dream of home ownership or meet your investing needs in the near future.

Mortgage Alliance Maximum Results Financial Services Inc. was established in 2004. We were  the first in the family of Mortgage Alliance franchises operating in Canada. In 2019 I joined forces with Lisette Amalfi creating Mortgage Alliance Greater Golden Horseshoe and we have offices in Cambridge, Dundas and Guelph.

We have agents who specialize in subprime business to assist our clients that require help getting their credit back on track, ones that handle private money and of course those that handle regular deals so no matter what your circumstances are, we can help. Our common company goal is to make the mortgage process as stress-free as possible and to also provide education to all of our clients that wish to learn more about credit, mortgages, investing and gaining financial freedom.

We have been honoured to win the top Diamond Award in the Readers Choice Awards for Best Mortgage Broker and Best Mortgage Office in 2008 through 2020.

We are also home to the 2009 $100,000 Winners in the yearly sweepstakes held by Mortgage Alliance. 

We are an Independently owned and operated franchise of the MAC Network and our registration number is 13121 .

We are proud to be affiliated with one of the best real estate companies ,Remax is an established name and known worldwide.

Our office services Cambridge, Kitchener, Waterloo, Guelph, Brantford and all surrounding areas but we are a National company so we can help you anywhere in Canada. Don't hesutate to contact us for any of your mortgage and real estate needs.

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Self Employed

Borrowing money is harder for many self-employed Canadians. While there is broad recognition that self-employed Canadians are reliable borrowers, it may be difficult to navigate the mortgage process and the different options available specifically for this group. We can help turn the tables. These individuals may run their own businesses, or work in a profession where the main source of their income is predominately capital gains, a form of income that is generally not considered by most “A Lenders”.

We work with self-employed homebuyers every day and understand the challenges that they may face when arranging a mortgage especially with no standard proof of income. Our brokers are experts when it comes to mortgage solutions and have access to multiple options, including mortgage products designed specifically for self-employed Canadians. They can pinpoint which lenders have more favourable terms and requirements and advise you on how you can improve your options to get the best possible rate and terms.

The more complex your mortgage situation, the more sense it makes to use an experienced mortgage professional who can help simplify the process and help you achieve both your short-term objectives and your long-term financial plan. Most of all, they allow you to stay focused on your business, alleviating the burden of many time-consuming and frustrating tasks and meetings associated with securing a mortgage and will also work around your busy work schedule. Many will even travel to your work site if required to make the transaction as convenient as possible for you.

Remember, that independent mortgage professionals work for YOU, not the lenders or banks, so you can rest assured that their advice is unbiased and in your best interest when it comes to finding the right lender and right product to meet your needs. Find out what your options are, give us a call.

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.

Alternative Lending

With the ever-changing market and a stricter stress test, many Canadians are finding it harder to qualify for a mortgage through traditional financial institutions “A-Lenders” and are turning to alternative lending solutions for their mortgage. At Mortgage Alliance we work with many alternative lenders, who can offer excellent mortgage options with more flexible criteria and more lenient qualification requirements.

Alternative lenders are great for individuals who have non-traditional forms of income for example, capital gains, room rental income, child tax benefits and others or for self employed applicants who may not have the minimum required number of years being self employed.

These lending solutions are also a good option for those with lower credit scores. While the rate they offer is slightly higher than what you will see posted by an A-Lender, they are nothing out of the ordinary when compared to traditional rates posted in Canada. They also generally have shorter terms, meaning that you can get into the home of your dreams while being able to rebuild your credit at the same time.

Buyers who don’t qualify under the mortgage stress test can also take advantage of the expanded debt service ratios allowed by alternative lenders to qualify for a mortgage and get into the home of their dreams. If you have a very unique situation, we also have access to various private lenders who are even more flexible and lenient in requirements and may be able to offer you mortgage options that fit your situation. In today’s environment, we’re seeing more private lenders helping Canadians with their mortgages.

Call your Mortgage Alliance professional to find out about the different options available to you. They are experts when it comes to mortgage products and different solutions and will provide you with unbiased advice. They work for you, not the lender.

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See how much you can afford

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As of September 29, 2022

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