With every new client, we take the time to listen to your needs in order to build a plan that is in line with your goals. The process is divided into parts where we focus on information gathering, communication and processing, and delivery. It is important to us that you are informed and assured when selecting a mortgage.
Buying a home
Whether you are a first time home buyer or looking for that savvy investment property, stress and complications can arise when arranging financing. That's where we come in. Let us help you secure the right mortgage.
Considering a refinance
There are many reasons to consider a refinance. Lower interest rates, debt consolidation, or even just accessing the equity in your home. We can discuss the pros and cons with you to see if a refinance is right for you.
Renewal coming up?
Is your mortgage renewal coming up? Is your lender offering you the best rate and terms? Call us for a no obligation consultation to see if we can find you something better and if it makes sense to switch.
Jose and Balraj are friends and mortgage broker partners who have worked together for several years. They started lendlab in the hopes of adding warmth to a process that can sometimes feel impersonal. Their team based approach is focused on putting you and your family first.Read more
Ready to get started?
A mortgage broker is an independent, licensed, and certified professional with an established network of lenders who works on your behalf to find the most suitable option for you. We do the research to save you the time and hassle of dealing with different banks and lenders so that you can focus on other aspects of the home buying process.Apply now
Balraj was recommended to me from a friend of mine/realtor. My mortgage renewal was quick , easy, and painless. Balraj is a breeze to talk to and he really makes you feel comfortable! I'd definitely recommend him to anyone looking for a mortgage broker. A+
Balraj was fantastic to work with and was very knowledgeable as to what needed to be done. He walked me through step by step and was happy to answer any queries I had. He went above and beyond and I would definitely, highly recommend his services.
We had an exceptional experience working with Balraj! He made the whole process seamless from start to finish. He took the time to answer any and all questions, was very responsive and was able to find a suitable lender that met our needs. He truly listened and understood what we were trying to achieve and always acted in our best interest. Would hands down recommend to anyone looking for a phenomenal customer service experience with respect to mortgages. Thank you Balraj!
Balraj is incredibly great. We can not thank him enough for what he did for us before, during, and after our first home purchase. I definitely recommend him for anyone looking for a mortgage broker in Vancouver Island. Getting to know Balraj was one of the best things that happened to us in Nanaimo.
5 Credit Habits To Boost Your Score
Your credit score is essentially your passport to financial opportunities. A low credit score can prevent you from getting the lowest mortgage rate, or even from getting a mortgage at all. But here’s the thing, this important factor in your mortgage negotiation is entirely within your control. That’s why it’s important to know the key credit behaviors that can boost your score or keep it high
What does a mortgage broker do?
Negotiate a client’s mortgage application with several financial institutions. Get you the best mortgage conditions available on the market, depending on your financial situation and credit history. Advise you on the best products and financial institutions available for your particular circumstances.
What is a conventional mortgage?
A conventional mortgage is usually one where the down payment is equal to 20% or more of the purchase price, a loan to value of or less than 80%, and does not normally require mortgage loan insurance.
What is mortgage loan insurance?
Mortgage loan insurance is insurance provided by Canada Mortgage and Housing Corporation (CMHC), a crown corporation, Canada Guaranty and Sagen, approved private corporations. This insurance is required by law to insure lenders against default on mortgages with a High Ratio. The insurance premiums are paid by the borrower and can be added directly onto the mortgage amount. This is not the same as mortgage life insurance.
What is a fixed rate mortgage?
The interest rate on a fixed-rate mortgage is set for a pre-determined term - usually between 6 months to 5 years. This offers the security of knowing what you will be paying for the term selected.
What is a variable rate mortgage?
A mortgage in which payments are fixed for a period of one to two years although interest rates may fluctuate from month to month depending on market conditions. If interest rates go down, more of the payment goes towards reducing the principal; if rates go up, a larger portion of the monthly payment goes towards covering the interest. Open variable rate mortgages allow prepayment of any amount (with certain minimums) on any payment date.
What is a down payment?
Very few home buyers have the cash available to buy a home outright. Most of us will turn to a financial institution for a mortgage the first step in a potentially long-standing relationship. But even with a mortgage, you will need to raise the money for a down payment. The down payment is that portion of the purchase price you furnish yourself. The amount of the down payment (which represents your financial stake, or the equity in your new home) should be determined well before you start house hunting. The larger the down payment, the less your home costs in the long run. With a smaller mortgage, interest costs will be lower and over time this will add up to significant savings.