Purchase, renewal, or refinancing. Describe your project in two minutes; a broker registered with the AMF calls you back, compares several lenders, and negotiates far more than the rate. No credit check on submission.
The rate is only the beginning
Two mortgages at the same rate can cost very different amounts: prepayment penalty, portability if you move, payment privileges, the ability to transfer. A broker has access to several institutions and negotiates those terms, not just the number. That is often where the real gap between two offers lies.
Fixed or variable: the real question
It is not “which is cheaper today” but “which can I carry if things change.” Your room to manoeuvre matters more than the forecast of the moment. The broker shows you what each option means in practice — what moves, the payment or the split between principal and interest — without selling you anything.
What a broker does, and does not do
They build your file, present it to several lenders, negotiate the terms, and explain the differences. They do not decide for you, guarantee no approval, and do not set rates. In most cases the lender you choose pays them, not you: ask them to confirm that in the first conversation.
The down payment and what it triggers
Below 20% down, the loan must be insured: a premium is added to the amount borrowed, but access to certain rates improves. The 20% threshold is therefore not always the most economical target. The broker compares both scenarios with real numbers rather than repeating the general rule.
The qualification test
Lenders verify that you could still pay at a rate above your contract rate. That test applies to both rate types and caps the amount you can borrow, independently of the rate you obtain. It explains why a pre-approval can come in lower than your budget suggests.
Purchase, renewal, or refinancing
Three situations, three different constraints. On a purchase, the closing date governs. At renewal, the 90-to-120-day window before maturity is when changing lenders costs least. Mid-term, a penalty almost always applies, and that is the first figure to obtain.
The costs to plan for in cash
Transfer duties, notary fees, inspection, appraisal, tax adjustments: these are paid in cash and cannot be added to the loan. Building them into the plan from the start avoids the unpleasant surprise two weeks before signing.
Why no rate is shown here
A number without your situation would be misleading: down payment, property type, debt ratio, and timing change which lenders are available and on what terms. The broker presents real options after the conversation, and nothing is decided by a machine.
What happens after you submit
A broker from the authorized mortgage team calls you back; nobody else receives the request. No credit check is performed on submission. They will tell you what they need to go further — income, maturity date, the offer you received — and you remain free not to proceed.
Frequently asked questions
Does this affect my credit report?
No. Completing this form triggers no credit check. A credit inquiry, if it becomes necessary, is made later by the broker or lender, with your explicit consent.
What does a mortgage broker cost?
In most residential files, the broker is paid by the lender you choose, not by the borrower. Some specialized files are exceptions. Ask them to confirm how they are compensated in the first conversation.
How much down payment do I need?
The minimum depends on the property price and the rules in force. Below 20%, the loan must be insured, which adds a premium to the amount borrowed but sometimes improves access to certain rates. The broker prices both scenarios.
What is the difference between a pre-approval and an approval?
A pre-approval holds a rate for a given period based on a preliminary file. An approval concerns a specific property and accounts for its appraisal. The first does not replace the second.
Can I change lenders at renewal?
Yes, and it is generally the window where that costs least, with no penalty at most lenders. The new lender requalifies the file and some fees may apply.
What does the qualification test change for me?
The lender verifies that you could pay at a rate above the contract rate. That caps how much you can borrow, independently of the rate obtained, and explains why a pre-approval can come in lower than expected.
What costs should I plan for beyond the down payment?
Transfer duties, notary fees, inspection, appraisal, and tax adjustments. They are paid in cash and cannot be added to the loan.
Do you work with a single lender?
No. The broker has access to several institutions and presents the options available for your file. CompareTaux displays no rate and ranks no lender.
Can I apply if I am self-employed?
Yes. Income is demonstrated some way other than a pay stub, and some lenders are more comfortable than others with these files. It is exactly a case where comparing has value.