Our services
INVESTMENT PROPERTIES
Mortgages can be stressful. Let K2M Mortgages work for you and ease this process.
If you are buying a new home, renewing your mortgage, looking to leverage your real estate wealth, buying an investment property, or curious about options for retirement, K2M Mortgages offers high-quality, first-class mortgage services that guarantee the most appropriate mortgage for your situation. No case is the same, so we take the time to ensure you’re getting the best possible mortgage solution for your unique circumstances.
Home purchase
Selling your current home while shopping for your next home is stressful, especially in a housing market like Metro Vancouver – we’ve been there!
Reviewing your options and starting a pre-approval application for your next mortgage is critical because it gives you information about your current budget and potential spending.
We’ll be able to provide you with:
- How much you can afford to spend with the equity you have
- The potential mortgage value lenders can provide you with
- The potential penalty cost for breaking your current mortgage
- A secured rate that we can hold for up to four months on a resale and 18 months on a pre-sale
- A snapshot of what your monthly payments and expenses
Having a sizable down payment is crucial here in the Lower mainland where the average sale price is over $1,000,000. So, what does your down payment need to be for a $1,000,000 home? With houses over $1,000,000, you will need a minimum of 20% down or at least $200,000 for a down payment. If you are buying a home that is under $500,000, you will only need a minimum of 5% down. If you plan on buying a home between $500,000 & $999,999, your down payment will need to be at least 5% for the first $500,000, and 10% on every dollar above $500,000 through to $999,999.
K2M Mortgages will provide you with a budget for your next purchase by properly evaluating your situation so you can buy your next home with confidence.
Fill out our simple online application and let us do the work.
First-time home buyer
Congratulations – you’re about to make one of the biggest purchasing decisions of your life! It is a huge deal, and like any major decision, the abundance of options can be overwhelming. Not to worry, that’s why we’re here.
Having a pre-approval on a mortgage is critical because it gives you information about your budget and potential spending.
Let us do the work and provide you with:
- How much you can afford to spend,
- A mortgage value lenders can provide you with,
- Your prospective interest rate, and
- A snapshot of your monthly payments and expenses
Establishing a budget is essential as the first step to achieving homeownership because you need to know how much money you have, how much you can put towards buying a home, and how much you can afford to spend on your home on an ongoing basis.
Having a sizable down payment is crucial here in the Lower mainland where the average sale price is over $1,000,000. So, what does your down payment need to be for a $1,000,000 home? With houses over $1,000,000, you will need a minimum of 20% down or at least $200,000 for a down payment. If you are buying a home that is under $500,000, you will only need a minimum of 5% down. If you plan on buying a home between $500,000 & $999,999, your down payment will need to be at least 5% for the first $500,000, and 10% on every dollar above $500,000 through to $999,999.
Do I get pre-qualified or pre-approved?
Pre-qualification is more of a casual conversation between us based on the information you provided. This is a good starting point if you want to get a general sense of how much you could qualify for, but is not a guarantee of what you can afford or qualify for.
When you’re pre-approved we take a deeper look and review the documentation that lenders require to qualify your mortgage. We also submit the validated information to the lender to get a pre-approved mortgage and hold a rate for up to four months. Please note that this pre-approval isn’t a bona fide approval as the lender will not review your documentation until there is an accepted offer on the property, however, this will give you the best chance of completing your purchase. Ensure you start with K2M Mortgages before you start the buying process to lock in an accurate budget to give you the best chance at succeeding with your purchase. Whether you’re looking for a pre-approval or pursuing a live deal, we’ll do the legwork to find you the best rate and mortgage product to save you thousands of dollars in interest.
Submit our simple online application and let us help reach this exciting milestone.
Refinancing
Want to capitalize on a lower interest rate, need money for another investment, want to do a major renovation project, or need to consolidate your debt? You can leverage the equity in your home and low-interest rates for a variety of needs. Choosing a refinancing product that meets your goals while ensuring you get the best rate can feel daunting. Refinance without hassle! We’re here to help and make the refinancing process easy as we will coach you through the different mortgage options available, allowing you to choose the right one regardless of your situation.
Here’s how our home refinancing process works:
- Complete our simple application form
- We’ll contact you to discuss your goals
- We’ll compare and communicate current mortgage interest rates and terms
- You’ll then receive mortgage options based on your unique criteria and scenario
- You’ll choose the mortgage product that best fits your needs
Fill out our easy online application and we’ll find the best available options to help you reach your goals.
RENEWALS
Take the opportunity to leverage your mortgage renewal to find a better rate. We have access to the top lenders across Canada and will make sure we find you the best rate available.
Let us shop around for you and find you the best rate available.
Investment Properties
Our investment property strategy will help you build true real estate wealth quicker than you may think. We have helped our clients build real estate portfolios by leveraging their current property and turning it into an enduring real estate portfolio. We will also help you become a self-reliant landlord or refer you to highly qualified real estate management companies.
Book a meeting to discuss building true real estate wealth.
Reverse Mortgage
A traditional reverse mortgage is a great solution for those clients nearing retirement. A reverse mortgage allows you to leverage up to 55% of your home’s value as tax free income! This allows many retirees the opportunity to live in their home without incurring the cost and hassle of selling their home and downsizing.
Book a meeting to find out if a reverse mortgage is right for you.
No Mortgage Payment Mortgage
Yes, you heard it right! We have access to a new lender product that will remove your mortgage payments completely! The product works similar to a reverse mortgage except there are no age restrictions and there are no monthly payments to you – only the bulk upfront takeout. Once you sell or refinance your property the interest that has accrued is added to your mortgage at the time of payout. This is a very unique product that involves minimal requirements to qualify and allows you to access up to 40% of your home’s value. This is an ideal product for those who may be self employed, are in need of investment money, need to reduce monthly overhead, or can’t qualify for a mortgage in traditional means.
Book a meeting to find out more about the No Mortgage Payment Mortgage.
TESTIMONIALS