Hi,
I need help in finding the best mortgage brokers in Alberta. I moved to Canada a few years back. I am a freelance programmer. I make pretty good money in a month. I want to buy a house in Edmonton. The savings I have is really low, it can only pay 5-6% of a property. So I decided to take a mortgage loan. My internet research showed that I can get a mortgage for the minimum 5 % as down payment. So I consulted a mortgage broker. But after assessment of my taxes, they said that I won't get a mortgage with 5% of down payment and I will have to pay a minimum of 20%. I was really shocked because I can't afford 20% as down payment.
Can this be an error of the mortgage broker? If so, Who is the best mortgage broker in Edmonton I can consult? Can I directly approach a lender? If so, Which all lenders provide new home mortgage in Edmonton? Any helpful advice will be appreciated.
I need help in finding the best mortgage brokers in Alberta. I moved to Canada a few years back. I am a freelance programmer. I make pretty good money in a month. I want to buy a house in Edmonton. The savings I have is really low, it can only pay 5-6% of a property. So I decided to take a mortgage loan. My internet research showed that I can get a mortgage for the minimum 5 % as down payment. So I consulted a mortgage broker. But after assessment of my taxes, they said that I won't get a mortgage with 5% of down payment and I will have to pay a minimum of 20%. I was really shocked because I can't afford 20% as down payment.
Can this be an error of the mortgage broker? If so, Who is the best mortgage broker in Edmonton I can consult? Can I directly approach a lender? If so, Which all lenders provide new home mortgage in Edmonton? Any helpful advice will be appreciated.