Ready for your house warming party?
Now that you've made the biggest purchase in your life, why not have one of our professional mortgage consultans walk you through the process seamlessly.  Learn the benefits of  how to use your RRSP contributions to increase your down payment, decrease your principal owing and avoid substantial interest costs that accrue over a long period.  If you have not purchased a home as yet, let us pre-approve you for the lowest interest rate possible!  Have no money for down payment?  Don't know how much you can afford in a mortgage? Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Purchase again, but without all the hassles!
Let our team of mortgage consultants use their up to date expertise to service your mortgage needs at your convenience and offer you the best discounted rates.  Now you can obtain a mortgage without ever stepping foot in a bank again!  We can provide you valuable information on how to reduce your monthly payment, pay off your mortgage faster, save thousands on interest rate, all within days.  At the Discount Mortgage Shop we educate you on the tricks and trades of mortagage financing- information which most banks never shares with their customers! Our goal is to help you become mortgage free faster. Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

We give you the security you need for your condo purchase.
Condominium mortgages are very different from regular residential purchashes.  Let our team of mortgage consultants exercise their knowledge of closing condominium deals to make sure everything is taken care of and hassle free.  There are a lot of things buyers do not know about the Condiminium Act.  Information that will affect your purchase dramatically.  At the Discount Mortgage Shop our Consultants will not only ensure your mortgage needs are taken care of, but explain to you the process of a condominium purchase, and all costs related to this type of purchase. Fill our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Ready for cottage country?
Let our expert team of mortgage consultants show you how you can afford a vacation home, so that you can spend quality family time and not worry about the expense.  With several new products available you can buy a cottage with down payment as low as 10%.  Worried about rural areas? Well & septic concerns? Don't know what the first step would be?  Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

New to the Canadian Mortgage Industry? Let us find you the right lender and mortgage product!
Due to lenders strict guidelines when dealing with; non-residents,US Investors and foreign investors, your options may be limited.  We have access to over 35 lenders and can offer you more options to fulfill your special mortgage needs.  Through a broker channel like the Discount Mortgage Shop we have direct access to exclusive mortgage products that are available to our clients abroad and down south!  Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Want to know how much you can spend on your new home?
Prepare yourself when you are shopping for a house. Don't sign that Offer to Purchase without having a Pre-Approval, which will guarantee a smooth transaction.
 

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Refinancing

One low payment, no more multiple bills at high interest rates, and more money in your pocket!
Find out how you can significantly reduce interest costs by combining your outstanding debts into your mortgage and only have one low payment. This way the extra money you would have spent on interest payments on your numerous debts, will go towards paying off your mortgage faster or into your savings account! One of our consultants will be more than happy to show you many options you have in debt consolidation. You may be richer than you think! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Need some extra cash to finish that home project?
Make renovations to your home and do it the right way by using existing equity in your home instead of incurring another major debt. This way, you get the maximum loan and still only have one payment to make monthly at a much lower rate than your normal loans. Good news is, getting a secured line of credit or increasing your mortgage loan can be done a lot faster than you think! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Does it feel like you've been making mortgage payments forever? 
Well by now, you must have acquired enough equity in your home that you can utilize for different purposes, for example, renovate your home, purchase a vacation home, invest, top up your RRSP contributions and much more. Use our team of experts to help you use what we refer to as "dead equity". Whether it be a secured line of credit, reverse mortgage, or a straight-refinancing you are looking to do, we can help you get there faster! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Want to make an investment with your "Dead Equity? 
Well, our team of mortgage consultants can help you achieve that dream.  Why keep your equity tied up in your home when you can leverage it to fulfill your financial future!  Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options! 
 

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Renewals/Switches

We can save you up to thousands of dollars in interest payments!
Let our team of mortgage consultants show you your long term savings when switching to a new lender with a much lower rate, even if you have to pay a penalty.  You save more on principal and interest in the long run.  You may not even have to pay a penalty depending on how far you are in your current term.  At the Discount Mortgage Shop we will show you, how to reduce your monthly payment, save money and become mortgage free faster than your bank showed you!   This can be done hassle free, and without you ever stepping foot in bank again! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Want to buy a house, but have to assume the vendor's mortgage?
We can qualify you and assist you in assuming the current mortgage from the seller and save you the cost of registering a whole new mortgage with a below market interest rate.  Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Already have a great rate and just bought a new property? 
Why not get the best of both, by porting over the current mortgage rate and term to your new home.  You can save thousands of dollars on insurance premium, penalty costs, legal fees etc.!  We can show you how to increase your mortgage amount without the hassle. Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Don't automatically sign a renewal with your current lender, let us find you the lowest rate with our selection of over 35 lenders. 
Don't be part of the statistic that automatically renews with their current lender at posted rates.  Our team will ensure you get the best discounts available from our 35 different partners and follow-up with you to ensure every renewal will be negotiated at the lowest rate always!  Our consultants will monitor your mortgage rates for the rest of your mortgage term!  We will always ensure that you get the lowest interest rate possible!  In a lot of cases, some Canadians end  up with a higher rate than a client who uses the Discount Mortgage Shop.  At the Discount Mortgage Shop, we will fight for your business and ensure that you get the lowest rate possible, we do the shopping around for you!  Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

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Rental Properties

Buying a home and want to rent as well?
Lenders have made it easier for you to own with a tenant. You can use up to 75% of the expected rent collected to qualify for the mortgage. You also may be entitled for the lowest rate possible. Don't know how you can do this? Contact us! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Want to buy a rental property with little down?
Real Estate is the safest of investments, especially in this present sound market and low interest rates. From 1 to 6 units, you can get up to 85% Financing. Our consultants will be more than happy to discuss with you how we can help you achieve this goal. If you're property can carry itself, you may not be required to prove your personal income. Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

What's an eligible rental property?
Single family homes, Freehold town homes, duplexes , townhouse condominiums, apartment condominiums, mobile or modular homes, 10 or more acres, etc. Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

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Commercial Lending

Want to buy an Apartment Building or Town House Complex?
Interested in the commercial market? Our commercial brokers can help you qualify for a commercial building purchase with as little as 15% down. You may not even require to prove your personal income, if the building carries it's own expenses. We will walk you through the red tape required to make this purchase, and possibly save you thousands in lender fees! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Want to buy a store front apartment?
If you are buying a store to operate your business, and you have a apartment attached to the store, you can qualify a lot easier! Lenders will take your tenant's rent into consideration, to make qualifying for a mortgage easier and faster. Our consultants will make all the steps for commercial financing easier for you, we will guide you every step of the way, from initial financing all the way to the closing of your deal. Rest a sure that the Discount Mortgage Shop will ensure that we seek out the lender with the best rate and lowest fees. With our help we will ensure that you get the maximum return in your investment! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Want to buy a plaza, but don't know where to begin?
Buying a plaza can be exciting and rewarding at the same time. However; it can also be stressful when it comes to financing. Our commercial brokers help educate you and find the best lender to suit your purchase. You may not even require to prove your personal income, if the building carries it's own expenses. We will walk you through the red tape required to make this purchase, and possibly save you thousands in lender fees! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Buying a multi storey building?
This purchase can be very expensive, if you do not have the right broker on your side! Let us show you how we can help you fianance your commercial deal quicker, easier, and less expensive than what may be available to you right now. You may not even require to prove your personal income, if the building carries it's own expenses. We will walk you through the red tape required to make this purchase, and possibly save you thousands in lender fees! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Buying a single unit for your business?
Want to open up a auto body shop, florist store, or an retail type of business? Let us help you get their faster. We will walk you through the red tape required to make this purchase, and possibly save you thousands in lender fees! Complete our mortgage application, and one of our mortgage consultants will be more than happy to contact you regarding possible financing options!

Want to open up a factory?
Call us and we will help you. We know financing can be stressfull.

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Private Mortgages

Who do you turn to when you get declined from the banks? US! 
We partner you with the best private lenders who can help you get a maximum LTV of 85%.

Did you know there are positive reasons for getting a 2nd mortgage? We can get you a 2nd mortgage up to 100% LTV.
Whether you need to get a debt consolidation, complete a home improvement, need money for that vacation that you desperately need or get a down payment for a second home/property for investment or leisure, we can get it all done.

Need Cash temporarily? Get a 3rd mortgage to get you through a tough spot in life!
We will get you a quick turnaround without all the red tape.

Want an even better rate than your previous?
We will get you a quick turnaround without all the red tape.

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Construction Loans

Construction Loans 

Don't know what's involved with a Construction Loan?
Use your time efficiently, don't waste it on research on your own, we have all the details that will help you procure a construction loan and explain the different stages involved.

We can arrange a mortgage on any marketable properties in Canada.
Some types of acceptable properties that we arrange mortgages for are: freehold single family detached, freehold townhomes, semi-detached, duplex, townhouse condo, manufactured homes, rural properties, low-rise and high-rise apartments, low populated areas, non-MLS purchases, properties in acreages, etc.

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Credit Services

No Credit = No more renting at DMS!
If you have no credit, we can still discuss options available to you that you may not have if going through the normal channels with the banks.

We make previously unattainable options a reality at DMS
We proudly specialize in helping indivduals and families with bad credit or bruised credit attain their dreams of becoming home owners.

Don't know what your future credit holds? We do!
At DMS, we sit down with you and map out your future credit options by conquering the minor obstacles step by step. You're never alone at DMS. We're only a phone call away.

Past bankruptcy does not mean end of home ownership!!
Even if you've experienced bankruptcy, we are experienced in helping you get back on track to reclaim your home ownership. Just ask us how and we'll be there every step of the way.

Proven ways to rebuild your credit are a specialty at DMS
Even if you've experienced bankruptcy, we are experienced in helping you get back on track to reclaim your home ownership. Just ask us how and we'll be there every step of the way.

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Unsecured Loans

Lines of Credit/Personal Loans
We offer unsecured lines of credit with low monthly payments, no annual fees and easy access. We have options available for self-employed, salaried, commissioned sales people and we can go up to a maximum of $500,000.

VISA
We offer unsecured VISAs with low interest rates, low monthly payments, no annual fees and easy access.

Too many loans to pay monthly?
Let us show you how to consolidate all your outstanding loans into a much smaller monthly payment, with the lowest interest rate.

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Current Rates

Posted Rates
The banks are currently setting mortgages based on posted rates.

Discounted Rates
Brokers from Invis get discounted rates, which can be up to 1% less than the banks' posted rates.

Variable Rate
Variable rates are compounded monthly and fluctuate based on the chartered banks prime rate. Variable rates can either be open or closed terms. Terms are similar to the closed mortgages.

B & C Lender Rates
B and C Lender rates are non-chartered bank rates. They are either Trust companies and alternative lenders.

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Qualified Income

Self-Employed
Self Employment Income is acceptable for anyone who has owned their own business, which must be active and on-going for a minimum of 2 years. Documents required to prove income amount are the last 2 years of Notice of Assessment.

Commissioned Sales
Commissioned Sales can be used as acceptable income as long as you have your previous years Notice of Assessment. Lender will need a copy recent of your Employment Letter and Pay Stub.

Disability
Disability Income is acceptable only if it is long-term, however the qualifications vary from lender to lender.

Maternity
Maternity Benefits Income is acceptable once the employer can provide a letter stating date returning to work and that they are returning to a permanent, full-time position.

Child Support
Child Support payments are acceptable income provided there is proof of continued support and bank statements showing receipts of support.

Alimony
Alimony income is acceptable provided it is proven with court documents.

Foster Parent
Foster Parent Income is acceptable provided it is a minimum of 2 years and a contract can prove amounts to be received, number of child(ren) being cared for, etc.

Self-Declared
No NOA's required to prove income? No worries. Self Declared Income is acceptable, depending on the lender and the product being sought.

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Down Payment

0% Down
No Down Payment Required. Find out how we can do this for you!

5% Down
Have no more than 5% to put down? No worries…we can get you the mortgage regardless of down payment amount. Now more than ever

25% Down
25% down means more options for your mortgage. With 25% down, we have a wider range of lenders and products that are available to you.

Sources of Down Payment
Sources of down payment that is acceptable are: accumulated savings, family gift, sale of current home, etc.

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Quick Links

About Us
The Brokers of Discount Mortgage Shop are knowledgeable and well experienced with the different credit backgrounds of individuals and can match them up with the proper product with our mass list of lenders. We are able to do this with extensive training and product knowledge. We at Discount Mortgage Shop pride ourselves on our customer satisfaction rate. We give the benefits of our positive relationships with lenders to our clients, by providing them with the lowest rates and more flexible products. We liasion with your lawyers, real estate agents and the lenders to ensure a smooth closing process and to ensure that the clients are entirely satisfied.

Mortgage Insurance
Mortgage Insurance helps to provide peace of mind at a time when there is only sorrow, when there is a death in the family. We provide you with Mortgage Insurance that is simple, flexible, portable and mostly, reliable.

Legal Services
First Canadian Title info.

Home Inspection
The object of an inspection is to inspect the condition of the building and all its major systems. Inspections reveal more detailed information about what repairs may be necessary, something that an appraisal will not include. An inspector will also include the amount of work to be done, the time and cost that it will take to complete. This is very important in your decision to purchase a property.

Appraisals
Appraisals are required for every purchase and refinance, with the exception of brand new home purchases. The lenders require an updated market value of the property to be mortgaged to ensure that they are secured, if there is a need to sell the property when a client defaults in the mortgage. Appraisal fees range from $200-$275.

Pay Down Your Mortgage Faster
Discount Mortgage Shop not only provides you the mortgage, but we also show you how to pay off your mortgage faster. Whether you want to increase your monthly payments, increasing the amount of payments annually, making lump sum payments, or by decreasing your amortization period at the time of renewal, we advise you on which option is your best.

Land Transfer Taxes
There is no escaping taxes, especially when ownership of a property is changed. We advise you up front what to expect to pay for land transfer tax when you're purchasing a property.

Some of Our Lenders

5 C's of Lending
The five "C's" of Lending is adapted when completing your application for a successful approval.

1. Capital is any available cash or liquid assets that is easily cashable that can go towards your down payment

2. Capacity is your ability to repay the loan, which shows your employment history and job stability

3. Character shows your willingness to repay the loan

4. Credit is an important factor which shows the available credit you currently have available to you

5. Collateral shows the property that you are applying the mortgage against, which includes the current market value and condition.

Purchase Checklist
When purchasing a home, whether its new or re-sale, there are many factors that must be considered. Here is a list that you can use as a guide:

1. Purchase Price,

2. Lawyer's Fees & Registration,

3. Land Transfer Tax

4. GE/CMHC Insurance

5. Tax Certificate

6. New Home Warranty Program

7. Appraisal

8. Inspection

9. Land Survey

10. Title Insurance

11. Property Tax

12. Real Estate Commission, etc.

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Testimonials

In terms of the service your have provided me , I can't thank you enough for walking me through everything, finances can be over bearing , but you have such passion for what you do that you have made me feel like my investments are your investments! Thanks!

Francis Barrientos

Maple, Ontario

Thank you for helping my wife and I with refinancing our mortgage.  The rate we were getting at the bank was ridiculous and after speaking to them it seemed there was no way out.  After calling you I learned a lot about mortgages and financing (things the bank didn't mention), got an amazing rate on my mortgage.

Working with both you has been a pleasure.  You are polite, professional and made our decision hassle free and comfortable by providing us with different options for refinance. 

We thank you and look forward to working with you again.

Ryan Pinto

Woodbridge, Ontario

I had never used a mortgage broker before, however, I was very impressed by Natasha's quick response to my application online.  I truly believe that Natasha found us the best rate and offered appropriate guidance throughout the process (even with a delay in our closing).  Her understanding and knowledge of our needs was truly appreciated.  I would highly recommend Natasha's services.  We are delighted with our new home and all of Natasha's assistance in making it possible!

Kathy Tower  

Guelph, Ontario

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Contact Us

Discount Mortgage Shop

TEL:  416-289-3345

TOLLFREE: 1-866-553-SHOP (7467)

FAX: 416-289-2208

TOLLFREE FAX: 1-866-778-SHOP (7467)

customercare@discountmortgageshop.com