Question 1

Do you charge a fee?

Accepted Answer

For most standard residential mortgages, lenders compensate the broker, so there's typically no fee to you. For certain alternative or private files a fee may apply — and if so, it's always disclosed and agreed upfront.

Question 2

Will applying hurt my credit?

Accepted Answer

An initial consultation and review doesn't require a credit pull. When we move toward an application, any credit check is done with your consent, and I help time it to minimize impact.

Question 3

How much down payment do I need?

Accepted Answer

For an owner-occupied home in Canada the minimum is 5% on the first $500,000 of price and 10% on the portion above that, up to $1.5M. Below 20% down, mortgage default insurance applies. Rental and investment properties generally require at least 20%. I'll confirm the exact number for your price and goals.

Question 4

What is the mortgage stress test?

Accepted Answer

Lenders must qualify you at the higher of your contract rate plus 2% or a regulated minimum qualifying rate — not just the rate you'll actually pay. It confirms you could handle higher payments, and positioning your file well matters.

Question 5

Do you work with Persian-speaking clients?

Accepted Answer

Yes — full advisory service is available in English and Farsi. برای نسخه فارسی اینجا کلیک کنید.

Question 6

What areas do you serve?

Accepted Answer

I'm licensed in Ontario and work with clients across the province — with a focus on the Greater Toronto Area and surrounding regions. Most of the process is handled securely online, so we can work together wherever you are in Ontario.

Question 7

Pre-qualification vs pre-approval — what's the difference?

Accepted Answer

A pre-qualification is a quick estimate based on what you tell me. A pre-approval is documented and verified, usually with a rate held for 90–120 days — a much stronger position when you make an offer.

Question 8

Fixed or variable — which should I choose?

Accepted Answer

Fixed gives payment certainty; variable can cost less over time but moves with rates. The right choice depends on your budget, risk comfort, and plans. I walk you through the trade-offs for your situation.

Question 9

What are typical closing costs in Ontario?

Accepted Answer

Plan for Land Transfer Tax (with an extra municipal tax in Toronto), legal fees, title insurance, an appraisal, and adjustments. A common rough budget is about 1.5%–4% of the purchase price — first-time buyers may qualify for LTT rebates.

Question 10

Can I use a gifted down payment?

Accepted Answer

Yes — typically from an immediate family member. Lenders need a signed gift letter confirming the funds are a true gift (not a loan), plus proof the money reached your account.

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