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Text Content

 * Home
 * Services
   * Purchase
   * Refinance
   * Renewal
   * First Time Home Buyers
   * Self Employed
   * Investment
   * Next Home
   * Divorce Mortgage
   * Older Canadians
   * Private Lending
   * Credit Issues
   * New To Canada
   * Construction Financing
   * Debt Consolidation
 * Articles
 * Apply Now
 * Calculators
 * Contact

Get in touch

416-877-8301

kinshuk@ourmortgagepro.ca


GET STARTED


MORTGAGES BY KINSHUK


PROFESSIONAL MORTGAGE ADVICE YOU CAN TRUST.

Get the mortgage you deserve, on your terms, without any of the hassle. It would
be a pleasure to work with you. Please connect with me directly to get the
mortgage process started.  

GET STARTED



I WILL SHOW YOU HOW TO GET THE BEST MORTGAGE POSSIBLE.

I have the expertise and know-how to save you time, reduce your stress, and find
the mortgage that best suits your needs.

quotes2Artboard 2

We cannot say enough great things about our experience with Kinshuk Malhotra.
From start to finish, the process was so smooth.




Rupinder Singh (From Google Reviews)

YOUR MORTGAGE PLAN IN 3 EASY STEPS!

GET STARTED RIGHT AWAY

The best place to start is to connect with me directly. The mortgage process is
personal. My commitment is to listen to all your needs, assess your financial
situation, and provide you with a clear plan forward.

GET A CLEAR PLAN

Sorting through all the different mortgage lenders, rates, terms, and features
can be overwhelming. Let me cut through the noise, I'll outline the best
mortgage products available, with your needs in mind.

LET ME HANDLE THE DETAILS

When it comes time to arranging your mortgage, I have the experience to bring it
together. I'll make sure you know exactly where you stand at all times. No
surprises. I've got you covered.


KINSHUK MALHOTRA

Mortgage Agent | Lic#M20001681

I’m here to help you through each step of the homebuying and mortgage processes
– from determining the amount of mortgage for which you qualify to ensuring you
have everything in place on closing day and beyond. My goal is to educate you,
de-mystify the mortgage process and find the best products that meet your needs.
I have a true belief in the value of property ownership and have helped hundreds
of people create wealth through showing them that ownership is a reality for
them.




My commitment is to do everything I can to get you approved, whether it be
today, a month from now, or a year from now, I will work with you as long as it
takes! I will always put myself in your shoes and tell you honestly what I would
do in your position, I will take the extra 15 minutes to thoroughly explain to
you what you are signing, what you can and cannot do with your mortgage, what
the costs are to pay down or payout your mortgage, and how to calculate those
costs and answer any questions you may have. Let me help get you the best
mortgage for your needs! "Start being good at getting better"


GET STARTED


NICE THINGS CLIENTS HAVE SAID ABOUT WORKING WITH ME

Gurpal Garry
3 days ago
We were buying our first home in Canada and were referred to Kinshuk by friends.
We will recommend him to everyone as we loved working with him. He is very
detail oriented, always easy to reach, replied to all our quires with lots of
patience, educated us with Canadian home buying process, held our hands in the
entire process, gave us very valuable inputs which our bank failed to deliver.
He provided all the valuable information in small videos which was great so we
could rewatch in case of any doubts. Kinshuk offered us 3 banks to choose from
based on our needs with pros & cons for each option. We thank him for all his
hard work and dedication, if you are looking for mortgage help reach out to
Kinshuk no one will put in sincere efforts as he does in the entire process
including credit report reviews and we are still in touch with him as his
services include free yearly mortgage review.
Read more

Jennifer Damashek
3 days ago
I am grateful that we were referred to Kinshuk by our real estate agent. Our
case was complicated and unusual, yet Kinshuk agreed to help us get a mortgage.
We are based out of US with no Canadian banking history. Kinshuk explained
Canadian lending guidelines and the A-Z of home buying process step by step.
Being an independent broker and having access to multiple lenders, Kinshuk
contacted multiple banks to find one which would offer us a mortgage. He went
above and beyond our expectations to help us reach our goal of home ownership in
Canada, and he did find a way for us. Wow. We had to put our home buying plans
on hold. However, it is a relief to know when the time is right, we can reach
out to Kinshuk and he will find the best possible mortgage. Kinshuk asks for all
the documents upfront to provide us with the best suited options based on our
needs. He is professional, kind and proactive.
Read more

bobby brown
4 days ago
Kinshuk is a person who knows his craft very well. Highly specific, detail
oriented, meticulous, leave no stone unturned to make sure to provide the
possible real number which is closest to Mortgage.
Read more

Rachel Dcosta
5 days ago
Kinshuk’s energy and enthusiasm is very captivating. I’m sure to have a great
experience working with him and finding my first home!!!
Read more

Nitin Jairath
9 days ago
We were lucky to find Kinshuk for our mortgage refinance to buy an investment
property. He gave us really good inputs on steps one by one, our realtor was
insisting us to place a firm offer without any conditions, but Kinshuk sent us
few videos with info what was the importance of condition of financing when
placing our offer. He also gave us very important and effective tips to get our
offer selected even though the seller had few other offers. He stood with us to
help and guide us for offers being made. His effective strategies helped us to
get a higher value unit but with lower out of pocket monthly payments. Stick
with him and he will do wonders for you. He will always be our mortgage pro for
all our future purchases. Thank you Kinshuk we could not had done it without
you.
Read more




WHETHER YOU’RE LOOKING TO BUY A PROPERTY, REFINANCE, OR RENEW YOUR EXISTING
MORTGAGE, YOU'VE COME TO THE RIGHT PLACE. 


 * PURCHASE FINANCING
   
   Purchase


 * BIRTHDAY SPARKS
   
   Photo By: John Doe
   Refinance


 * FASHION MAGAZINE
   
   Photo By: John Doe
   Renew




WHETHER YOU’RE LOOKING TO BUY A PROPERTY, REFINANCE, OR RENEW YOUR EXISTING
MORTGAGE, YOU'VE COME TO THE RIGHT PLACE. 


 * PURCHASE FINANCING
   
   Purchase




 * BIRTHDAY SPARKS
   
   Photo By: John Doe
   Refinance




 * FASHION MAGAZINE
   
   Photo By: John Doe
   Renew




OR I CAN HELP YOU ARRANGE MORTGAGE FINANCING FOR THE FOLLOWING SERVICES:


First Time Home Buyers

Investment Property

Buying Your Next Home

Credit Issues

Private Lending

Debt Consolidation




Mortgages in Retirement

Construction Financing

Self-Employed

Divorce/Separation

New to Canada



I'M JUST GETTING STARTED

Find out what you can afford in 30 seconds >

I HAVE A SPECIFIC HOME IN MIND

Find out if you can afford it in 30 seconds >

I'D LIKE TO REFINANCE

Find out how much you can take out in 30 seconds >

GET STARTED


ARTICLES TO KEEP YOU INFORMED


BANK OF CANADA RATE ANNOUNCEMENT APR 12TH, 2023

By Kinshuk Malhotra • 12 Apr, 2023
Bank of Canada maintains policy rate, continues quantitative tightening. FOR
IMMEDIATE RELEASE Media Relations Ottawa, Ontario April 12, 2023 The Bank of
Canada today held its target for the overnight rate at 4½%, with the Bank Rate
at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of
quantitative tightening. Inflation in many countries is easing in the face of
lower energy prices, normalizing global supply chains, and tighter monetary
policy. At the same time, labour markets remain tight and measures of core
inflation in many advanced economies suggest persistent price pressures,
especially for services. Global economic growth has been stronger than
anticipated. Growth in the United States and Europe has surprised on the upside,
but is expected to weaken as tighter monetary policy continues to feed through
those economies. In the United States, recent stress in the banking sector has
tightened credit conditions further. US growth is expected to slow considerably
in the coming months, with particular weakness in sectors that are important for
Canadian exports. Meanwhile, activity in China’s economy has rebounded,
particularly in services. Overall, commodity prices are close to their January
levels. The Bank’s April Monetary Policy Report (MPR) projects global growth of
2.6% this year, 2.1% in 2024, and 2.8% in 2025. In Canada, demand is still
exceeding supply and the labour market remains tight. Economic growth in the
first quarter looks to be stronger than was projected in January, with a bounce
in exports and solid consumption growth. While the Bank’s Business Outlook
Survey suggests acute labour shortages are starting to ease, wage growth is
still elevated relative to productivity growth. Strong population gains are
adding to labour supply and supporting employment growth while also boosting
aggregate consumption. Housing market activity remains subdued. As more
households renew their mortgages at higher rates and restrictive monetary policy
works its way through the economy more broadly, consumption is expected to
moderate this year. Softening foreign demand is expected to restrain exports and
business investment. Overall, GDP growth is projected to be weak through the
remainder of this year before strengthening gradually next year. This implies
the economy will move into excess supply in the second half of this year. The
Bank now projects Canada’s economy to grow by 1.4% this year and 1.3% in 2024
before picking up to 2.5% in 2025. CPI inflation eased to 5.2% in February, and
the Bank’s preferred measures of core inflation were just under 5%. The Bank
expects CPI inflation to fall quickly to around 3% in the middle of this year
and then decline more gradually to the 2% target by the end of 2024. Recent data
is reinforcing Governing Council’s confidence that inflation will continue to
decline in the next few months. However, getting inflation the rest of the way
back to 2% could prove to be more difficult because inflation expectations are
coming down slowly, service price inflation and wage growth remain elevated, and
corporate pricing behaviour has yet to normalize. As it sets monetary policy,
Governing Council will be particularly focused on these indicators, and the
evolution of core inflation, to gauge the progress of CPI inflation back to
target. In light of its outlook for growth and inflation, Governing Council
decided to maintain the policy rate at 4½%. Quantitative tightening continues to
complement this restrictive stance. Governing Council continues to assess
whether monetary policy is sufficiently restrictive to relieve price pressures
and remains prepared to raise the policy rate further if needed to return
inflation to the 2% target. The Bank remains resolute in its commitment to
restoring price stability for Canadians. Information note The next scheduled
date for announcing the overnight rate target is June 7, 2023. The Bank will
publish its next full outlook for the economy and inflation, including risks to
the projection, in the MPR on July 12, 2023. Read the April 12th, 2023 Monetary
Policy Report.



FINANCE YOUR HOME RENOVATIONS

By Kinshuk Malhotra • 05 Apr, 2023
If you’re looking to do some home renovations but don’t have all the cash up
front to pay for materials and contractors, here are a few ways to use mortgage
financing to bring everything together. Existing Home Owners - Mortgage
Refinance Probably the most straightforward solution, if you’re an existing
homeowner, would be to access home equity through a mortgage refinance.
Depending on the terms of your existing mortgage, a mid-term mortgage refinance
might make good financial sense; there’s even a chance of lowering your overall
cost of borrowing while adding the cost of the renovations to your mortgage. As
your financial situation is unique, it never hurts to have the conversation, run
the numbers, and look at your options. Let’s talk! If you're not in a huge rush,
it might be worth waiting until your existing term is up for renewal. This is a
great time to refinance as you won’t incur a penalty to break your existing
mortgage. Now, regardless of when you refinance, mid-term or at renewal, you’re
able to access up to 80% of the appraised value of your home, assuming you
qualify for the increased mortgage amount. Home Equity Line of Credit Instead of
talking with a bank about an unsecured line of credit, if you have significant
home equity, a home equity line of credit (HELOC) could be a better option for
you. An unsecured line of credit usually comes with a pretty high rate. In
contrast, a HELOC uses your home as collateral, allowing the lender to give you
considerably more favourable terms. There are several different ways to use a
HELOC, so if you’d like to talk more about what this could look like for you,
connect anytime! Buying a Property - Purchase Plus Improvements If you’re
looking to purchase a property that could use some work, some lenders will allow
you to add extra money to your mortgage to cover the cost of renovations. This
is called a purchase plus improvements. The key thing to keep in mind is that
the renovations must increase the value of the property. There is a process to
follow and a lot of details to go over, but we can do this together. So if you’d
like to discuss using your mortgage to cover the cost of renovating your home,
please connect anytime!



FIXED-RATE OR VARIABLE-RATE MORTGAGE?

By Kinshuk Malhotra • 29 Mar, 2023
If you're looking to buy a new property, refinance, or renew an existing
mortgage, chances are, you're considering either a fixed or variable rate
mortgage. Figuring out which one is the best is entirely up to you! So here's
some information to help you along the way. Firstly, let's talk about the
fixed-rate mortgage as this is most common and most heavily endorsed by the
banks. With a fixed-rate mortgage, your interest rate is "fixed" for a certain
term, anywhere from 6 months to 10 years, with the typical term being five
years. If market rates fluctuate anytime after you sign on the dotted line, your
mortgage rate won't change. You're a rock; your rate is set in stone. Typically
a fixed-rate mortgage has a higher rate than a variable. Alternatively, a
variable rate is not set in stone; instead, it fluctuates with the market. The
variable rate is a component (either plus or minus) to the prime rate. So if the
prime rate (set by the government and banks) is 2.45% and the current variable
rate is Prime minus .45%, your effective rate would be 2%. If three months after
you sign your mortgage documents, the prime rate goes up by .25%, your rate
would then move to 2.25%. Typically, variable rates come with a five-year term,
although some lenders allow you to go with a shorter term. At first glance, the
fixed-rate mortgage seems to be the safe bet, while the variable-rate mortgage
appears to be the wild card. However, this might not be the case. Here's the
problem, what this doesn't account for is the fact that a fixed-rate mortgage
and a variable-rate mortgage have two very different ways of calculating the
penalty should you need to break your mortgage. If you decide to break your
variable rate mortgage, regardless of how much you have left on your term, you
will end up owing three months interest, which works out to roughly two to two
and a half payments. Easy to calculate and not that bad. With a fixed-rate
mortgage, you will pay the greater of either three months interest or what is
called an interest rate differential (IRD) penalty. As every lender calculates
their IRD penalty differently, and that calculation is based on market
fluctuations, the contract rate at the time you signed your mortgage, the
discount they provided you at that time, and the remaining time left on your
term, there is no way to guess what that penalty will be. However, with that
said, if you end up paying an IRD, it won't be pleasant. If you've ever heard
horror stories of banks charging outrageous penalties to break a mortgage, this
is an interest rate differential. It's not uncommon to see penalties of 10x the
amount for a fixed-rate mortgage compared to a variable-rate mortgage or up to
4.5% of the outstanding mortgage balance. So here's a simple comparison. A
fixed-rate mortgage has a higher initial payment than a variable-rate mortgage
but remains stable throughout your term. The penalty for breaking a fixed-rate
mortgage is unpredictable and can be upwards of 4.5% of the outstanding mortgage
balance. A variable-rate mortgage has a lower initial payment than a fixed-rate
mortgage but fluctuates with prime throughout your term. The penalty for
breaking a variable-rate mortgage is predictable at 3 months interest which
equals roughly two and a half payments. The goal of any mortgage should be to
pay the least amount of money back to the lender. This is called lowering your
overall cost of borrowing. While a fixed-rate mortgage provides you with a more
stable payment, the variable rate does a better job of accommodating when "life
happens." If you’ve got questions, connect anytime. It would be a pleasure to
work through the options together.




BANK OF CANADA RATE ANNOUNCEMENT APR 12TH, 2023

By Kinshuk Malhotra • 12 Apr, 2023
Bank of Canada maintains policy rate, continues quantitative tightening. FOR
IMMEDIATE RELEASE Media Relations Ottawa, Ontario April 12, 2023 The Bank of
Canada today held its target for the overnight rate at 4½%, with the Bank Rate
at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of
quantitative tightening. Inflation in many countries is easing in the face of
lower energy prices, normalizing global supply chains, and tighter monetary
policy. At the same time, labour markets remain tight and measures of core
inflation in many advanced economies suggest persistent price pressures,
especially for services. Global economic growth has been stronger than
anticipated. Growth in the United States and Europe has surprised on the upside,
but is expected to weaken as tighter monetary policy continues to feed through
those economies. In the United States, recent stress in the banking sector has
tightened credit conditions further. US growth is expected to slow considerably
in the coming months, with particular weakness in sectors that are important for
Canadian exports. Meanwhile, activity in China’s economy has rebounded,
particularly in services. Overall, commodity prices are close to their January
levels. The Bank’s April Monetary Policy Report (MPR) projects global growth of
2.6% this year, 2.1% in 2024, and 2.8% in 2025. In Canada, demand is still
exceeding supply and the labour market remains tight. Economic growth in the
first quarter looks to be stronger than was projected in January, with a bounce
in exports and solid consumption growth. While the Bank’s Business Outlook
Survey suggests acute labour shortages are starting to ease, wage growth is
still elevated relative to productivity growth. Strong population gains are
adding to labour supply and supporting employment growth while also boosting
aggregate consumption. Housing market activity remains subdued. As more
households renew their mortgages at higher rates and restrictive monetary policy
works its way through the economy more broadly, consumption is expected to
moderate this year. Softening foreign demand is expected to restrain exports and
business investment. Overall, GDP growth is projected to be weak through the
remainder of this year before strengthening gradually next year. This implies
the economy will move into excess supply in the second half of this year. The
Bank now projects Canada’s economy to grow by 1.4% this year and 1.3% in 2024
before picking up to 2.5% in 2025. CPI inflation eased to 5.2% in February, and
the Bank’s preferred measures of core inflation were just under 5%. The Bank
expects CPI inflation to fall quickly to around 3% in the middle of this year
and then decline more gradually to the 2% target by the end of 2024. Recent data
is reinforcing Governing Council’s confidence that inflation will continue to
decline in the next few months. However, getting inflation the rest of the way
back to 2% could prove to be more difficult because inflation expectations are
coming down slowly, service price inflation and wage growth remain elevated, and
corporate pricing behaviour has yet to normalize. As it sets monetary policy,
Governing Council will be particularly focused on these indicators, and the
evolution of core inflation, to gauge the progress of CPI inflation back to
target. In light of its outlook for growth and inflation, Governing Council
decided to maintain the policy rate at 4½%. Quantitative tightening continues to
complement this restrictive stance. Governing Council continues to assess
whether monetary policy is sufficiently restrictive to relieve price pressures
and remains prepared to raise the policy rate further if needed to return
inflation to the 2% target. The Bank remains resolute in its commitment to
restoring price stability for Canadians. Information note The next scheduled
date for announcing the overnight rate target is June 7, 2023. The Bank will
publish its next full outlook for the economy and inflation, including risks to
the projection, in the MPR on July 12, 2023. Read the April 12th, 2023 Monetary
Policy Report.



FINANCE YOUR HOME RENOVATIONS

By Kinshuk Malhotra • 05 Apr, 2023
If you’re looking to do some home renovations but don’t have all the cash up
front to pay for materials and contractors, here are a few ways to use mortgage
financing to bring everything together. Existing Home Owners - Mortgage
Refinance Probably the most straightforward solution, if you’re an existing
homeowner, would be to access home equity through a mortgage refinance.
Depending on the terms of your existing mortgage, a mid-term mortgage refinance
might make good financial sense; there’s even a chance of lowering your overall
cost of borrowing while adding the cost of the renovations to your mortgage. As
your financial situation is unique, it never hurts to have the conversation, run
the numbers, and look at your options. Let’s talk! If you're not in a huge rush,
it might be worth waiting until your existing term is up for renewal. This is a
great time to refinance as you won’t incur a penalty to break your existing
mortgage. Now, regardless of when you refinance, mid-term or at renewal, you’re
able to access up to 80% of the appraised value of your home, assuming you
qualify for the increased mortgage amount. Home Equity Line of Credit Instead of
talking with a bank about an unsecured line of credit, if you have significant
home equity, a home equity line of credit (HELOC) could be a better option for
you. An unsecured line of credit usually comes with a pretty high rate. In
contrast, a HELOC uses your home as collateral, allowing the lender to give you
considerably more favourable terms. There are several different ways to use a
HELOC, so if you’d like to talk more about what this could look like for you,
connect anytime! Buying a Property - Purchase Plus Improvements If you’re
looking to purchase a property that could use some work, some lenders will allow
you to add extra money to your mortgage to cover the cost of renovations. This
is called a purchase plus improvements. The key thing to keep in mind is that
the renovations must increase the value of the property. There is a process to
follow and a lot of details to go over, but we can do this together. So if you’d
like to discuss using your mortgage to cover the cost of renovating your home,
please connect anytime!



FIXED-RATE OR VARIABLE-RATE MORTGAGE?

By Kinshuk Malhotra • 29 Mar, 2023
If you're looking to buy a new property, refinance, or renew an existing
mortgage, chances are, you're considering either a fixed or variable rate
mortgage. Figuring out which one is the best is entirely up to you! So here's
some information to help you along the way. Firstly, let's talk about the
fixed-rate mortgage as this is most common and most heavily endorsed by the
banks. With a fixed-rate mortgage, your interest rate is "fixed" for a certain
term, anywhere from 6 months to 10 years, with the typical term being five
years. If market rates fluctuate anytime after you sign on the dotted line, your
mortgage rate won't change. You're a rock; your rate is set in stone. Typically
a fixed-rate mortgage has a higher rate than a variable. Alternatively, a
variable rate is not set in stone; instead, it fluctuates with the market. The
variable rate is a component (either plus or minus) to the prime rate. So if the
prime rate (set by the government and banks) is 2.45% and the current variable
rate is Prime minus .45%, your effective rate would be 2%. If three months after
you sign your mortgage documents, the prime rate goes up by .25%, your rate
would then move to 2.25%. Typically, variable rates come with a five-year term,
although some lenders allow you to go with a shorter term. At first glance, the
fixed-rate mortgage seems to be the safe bet, while the variable-rate mortgage
appears to be the wild card. However, this might not be the case. Here's the
problem, what this doesn't account for is the fact that a fixed-rate mortgage
and a variable-rate mortgage have two very different ways of calculating the
penalty should you need to break your mortgage. If you decide to break your
variable rate mortgage, regardless of how much you have left on your term, you
will end up owing three months interest, which works out to roughly two to two
and a half payments. Easy to calculate and not that bad. With a fixed-rate
mortgage, you will pay the greater of either three months interest or what is
called an interest rate differential (IRD) penalty. As every lender calculates
their IRD penalty differently, and that calculation is based on market
fluctuations, the contract rate at the time you signed your mortgage, the
discount they provided you at that time, and the remaining time left on your
term, there is no way to guess what that penalty will be. However, with that
said, if you end up paying an IRD, it won't be pleasant. If you've ever heard
horror stories of banks charging outrageous penalties to break a mortgage, this
is an interest rate differential. It's not uncommon to see penalties of 10x the
amount for a fixed-rate mortgage compared to a variable-rate mortgage or up to
4.5% of the outstanding mortgage balance. So here's a simple comparison. A
fixed-rate mortgage has a higher initial payment than a variable-rate mortgage
but remains stable throughout your term. The penalty for breaking a fixed-rate
mortgage is unpredictable and can be upwards of 4.5% of the outstanding mortgage
balance. A variable-rate mortgage has a lower initial payment than a fixed-rate
mortgage but fluctuates with prime throughout your term. The penalty for
breaking a variable-rate mortgage is predictable at 3 months interest which
equals roughly two and a half payments. The goal of any mortgage should be to
pay the least amount of money back to the lender. This is called lowering your
overall cost of borrowing. While a fixed-rate mortgage provides you with a more
stable payment, the variable rate does a better job of accommodating when "life
happens." If you’ve got questions, connect anytime. It would be a pleasure to
work through the options together.


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CONTACT INFORMATION

Kinshuk Malhotra

Mortgage Agent

Licence Number: M20001681




+1-416-877-8301


kinshuk@ourmortgagepro.ca

Mortgage Edge

15 Wertheim Ct Suite 210,

Richmond Hill, ON

L4B 3H7

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