Guiding You Every Step of the Way
HELLO, I’M ANNA LE
My goal is to guide you every step of the way throughout your mortgage process, which I recognize can often feel complex and intimidating. With personal experience in navigating this journey—through acquiring and investing in properties—I understand the challenges and uncertainties it can present. My commitment stems from a desire to streamline the experience, offering clarity, transparency, and support so you can make informed decisions on one of life’s most significant financial choices.
I specialize in reverse mortgages, empowering homeowners to confidently unlock their home’s equity while remaining in the home they love and cherish. I dedicate time to working closely with you and your family, ensuring a clear understanding of the process, its benefits, and its implications, so you can proceed with confidence.
In addition to reverse mortgages, I provide a comprehensive suite of mortgage services, including support for first-time homebuyers, refinancing, renewals, and private mortgages.
BENEFITS OF WORKING WITH A MORTGAGE BROKER
Working with a mortgage broker offers several advantages that can make the home financing process smoother and more tailored to your needs. First, brokers have access to a wide network of lenders—banks, credit unions, and private options—giving you more choices than you’d typically find going to a single bank. We leverage our network of lenders to secure you competitive rates, saving you time and effort as well as increasing your chance of an approval.
Second, we bring expertise to the table. Brokers understand the ins and outs of various mortgage products, eligibility requirements, and market trends, so we can guide you toward options you might not have considered—like special programs for first-time buyers or solutions for unique financial circumstances.
Third, we often negotiate on your behalf. Since brokers work with lenders regularly, we can sometimes secure better deals or perks that you might not get on your own.
Finally, it’s personalized. A good broker takes the time to understand your goals and financial picture, cutting through the jargon to present clear, practical options. It’s like having an advocate who simplifies a complex process.
“If people like you, they will listen to you. but if they trust you, they will do business with you”
-Zig Ziglar
My mortgage process
The mortgage process can feel like a bit of a journey, but it’s pretty straightforward once you break it down. Here’s how it generally works:
First, you’ll want to figure out what you can afford. This usually starts with getting pre-approved. I’ll look at your income, credit score, debts, and down payment to give you a ballpark figure. The minimum down payment is 5% for homes up to $500,000, but it scales up if the price is higher (e.g., 10% on the portion between $500,000 and $1 million, and 20% for anything over $1 million if it’s not insured).
Next, you shop for a home within that budget. Once you find “the one,” you make an offer, usually with a real estate agent’s help. If the seller accepts, you’ll need to secure your actual mortgage. This is where I finalize things with the lender. I’ll need details about the property. You might also need a home appraisal to confirm the property’s value matches the loan.
A big piece of the puzzle is mortgage insurance if your down payment is less than 20%. In Canada, this is mandatory for “high-ratio” mortgages and typically comes from the Canada Mortgage and Housing Corporation (CMHC) or a private insurer like Sagen or Canada Guaranty. It protects the lender if you default, and the cost (a premium) gets rolled into your mortgage payments.
I will provide you with a chart showing you different payment options and will explain them in detail so you can make an educated decision on which best suits your needs and future plans. You’ll also choose your mortgage type—fixed-rate (stable interest) or variable-rate (fluctuates with the market)—and the term, often 5 years, though it can range from 6 months to 10 years. The amortization period (how long it takes to pay off the full loan) is usually 25 years but can go up to 30 in some cases.
Before closing, a lawyer or notary gets involved to handle the legal stuff—title transfer, land registration, and making sure the lender’s mortgage is secured. You’ll need to cover closing costs too, like legal fees, property taxes, and maybe a home inspection (highly recommended).
Payments start after that, usually monthly, and include principal, interest, and property taxes if you’ve bundled them into the mortgage. One quirk in Canada: stress tests. Even if rates are low, lenders test your ability to pay at a higher rate (currently around 5.25% or your contract rate plus 2%, whichever’s higher) to ensure you can handle potential hikes.