Our team of experienced, local Victoria mortgage brokers specialize in helping Vancouver Island
home buyers or home owners get the financing they need, at the rates they want.
Hard pre-approvals can be extended for up to 6 months, provided that your credit, income, or debt have not changed fundamentally.
Landmark Mortgages "hard pre-approvals". This means that we fully review your file and complete all applications. We also gather all supporting documentation. Although this takes more effort and time on our part, it is well worth it. It gives borrowers certainty about what they can and cannot borrow.
You only need to provide the required documentation, based upon the initial conversation in a timely fashion. Your ability to get a pre-approval in a timely manner will determine the speed at which we can do it.
We don't usually pull your credit until we have two things: first, we know we can offer you a solution based upon the documentation provided and secondly, we are satisfied with the solutions we've proposed. Once we have both those things in place, we will pull your credit to confirm everything 100%.
No, although we hope that you will want to work with Landmark Mortgages based on the experience you had during the pre-approval process, it is not mandatory.
Yes, after we have provided you with a hard preapproval, you can go house hunting and make an offer on any/all properties which meet the criteria.
We love helping first time home buyers get the financing they need, even when the banks are saying no! Alison Qin is our underwriter specialist and is able to get files completed that most brokers could not!Contact Us
Mortgage Renewal Time? Let us help you get the best rates and terms . We can save you time and money. There is no cost to you, the borrower. Call us before just accepting what your current lender is offering!Contact Us
We offer private lending options and love a challenge! If you think you're not going to qualify or have been turned down already, we can help you! Hard to fund mortgages are our specialty!Contact Us
We offer extremely competitive reverse mortgage rates and Home Equity Lines Of Credit - HELOC options. We have a team of veteran mortgage professionals who can handle more complex lending services.Contact Us
What can we do to help you?
Landmark Mortgages: Victoria Mortgage Broker believes that your home is much more than just a roof over you head. It is where family and friends come together, memories are made, and families are formed. A home purchase is both a fulfilling experience and a key component of your financial plan. A mortgage is not viewed as a debt. It is part of a larger financial puzzle.
It is just as important to choose a mortgage as you do the house. You want one that suits your needs, is secure and will be a good investment. You don’t have to make difficult decisions about fixed, variable, blended or open rates or whether you want an open- or closed-term. You’ll be able to spend less time worrying about finances and more time living in the home that you deserve by working with the right mortgage broker.
Why Work With Landmark Mortgages?
The mortgage process can seem daunting when you are buying a house. We take the time to explain it all, break down the terminology and show you how you can make the most of your loan. Our team is available to help you but we are most concerned about making sure you get the right mortgage for you.
We are pleased to offer the following services when you work with the Landmark Mortgages Team:
You can save time and have more options. You have access to many lenders which allows you to access a large variety of products and services. We don’t have a single product, unlike traditional banks and credit unions. Instead, we work with more than fifty lenders, each of whom offers a multitude of products.
We can help you avoid unnecessary risk. We have a vast understanding of the criteria lenders use to determine if borrowers are eligible and our years of experience. Our brokers are able to identify products that have unforeseen fees and penalties. This will help you avoid the financial consequences of making a poor decision. We also service Sidney BC home mortgage purchases.
All details will be taken care of. We can handle all details of the transaction, including the lender, appraisers, credit agencies, lawyers, and real estate agents. We keep you informed throughout the whole process.
Who are We?
Landmark Mortgages is your one-stop financial center for your home. Our holistic and global approach to financial wellness is what we use to help our clients. We offer investment, mortgage and insurance products as well as consultations.
We are an independent, locally-owned and operated mortgage brokerage with it’s head office, Mortgages Lab, located in Vancouver. We have access to more than 50 lenders across Canada, including the largest banks and smaller credit unions, and can help you save time and money by shopping around to find the best rate and product. We are also associated with Landmark Mortgages in Victoria BC.
We apply this knowledge to every client. Working together, we can each bring our experience to your file. You don’t have the luxury of believing us; you can read reviews on Google or Facebook from our clients about their experiences.
Looking for a mortgage in Victoria? The Landmark Mortgages team is the best place to start your search.
Landmark Mortgages Process:
You have the option to submit your mortgage application online and get approved by our team. It can be very complicated to finance a mortgage. The most common source of anxiety is not knowing where your file is at. We ask for your patience as we work through this process together. We will work to improve your application and make sure that you get the best mortgage solution.
STEP 1: Meeting and Pre-Approval
Our first step together is to get acquainted with you and your needs. Please give us a call, or complete our contact form to get in touch with us.
We’re here to help you understand your mortgage needs. Our goal is to:
We’ll then send you a document list confirming all the necessary paperwork to proceed. Our process allows you “drag and drop” the documents to secure sites for your convenience.
Our team will keep your informed throughout the process. Once we have all the information we need to determine the best mortgage options for you, we are ready to meet again in person or via Skype at a time that suits you.
STEP 2: Mortgage Approval
Once you have given us permission to handle your mortgage file, we forward it to the lender who best suits your needs and provides the best solution. We may not hear from the lender for up to one week. Once we do, we will notify you of the expected timeframe. Our goal is always to respect your deadlines and work to meet them.
Every lender will have a different process, so we cannot tell you what to expect. The lender will typically review your documentation and may request additional documents or an appraisal. To complete your file, it is important that you send these details as soon as possible.
Once the lender has completed their review of your file, they will sign off final. This confirms that we have fulfilled all conditions. If the transaction involved a purchase we will notify you and your realtor that your financing condition can be removed. Sometimes, the lender may require additional information that will not be available until your closing date. We will send you an update and remind you about these details to ensure that your lender has all the information they need and that your mortgage is funded on schedule.
STEP 3: Lawyer Instruction & Closing Review
After we have received the “File Complete” from the lender, the lawyer who will be acting for you will be instructed. We will provide all details regarding your transaction to them during this instruction process. We will also contact your lawyer 7-14 days before you take possession of the new property or refinance your existing property.
You must notify us immediately if you are unable to physically attend your lawyer’s office in order to sign the paperwork.
STEP 4: Lawyer Visit
You will need to meet your lawyer approximately 3-7 days before your closing date to sign the mortgage documents.
Before you go to an appointment, make sure you have these items in order:
The remaining balance of your down payments funds are available. You will also need to give the lawyer a certified draft to cover any closing costs. This amount will be provided to you by your lawyer in advance.
You have arranged home insurance. The loss will be paid to the lender. This can be done by our team or your insurance provider. Without adequate insurance, you will not be able to get the keys to your property.
Your lawyer will review the documents together with you and paraphrase each section. We recommend that you request the lawyer to send you the documents prior to your meeting if you wish to go through the documents in greater detail. These documents are quite long and will take you a lot of time to read while in the lawyer’s office.
STEP 5: Possession Date and Move In
Finally, on the big date, you will be given your keys and take possession of your house at the time that you have agreed to.
To inspect the property in its current condition, it is important that your realtor, or another third party, not a family member, walks through it. You should inspect the property for missing lights, curtain rods or other damage that wasn’t disclosed. If you don’t have an independent party to support your claim, it is much more difficult to file a claim against the seller.
Steps 3 through 5 can differ depending on whether the mortgage is for a purchase or refinance. Sometimes, lenders require that you visit a branch before your financing is approved. Our team will inform you of what to expect from your file once we have started working with you.
Landmark Mortgages, a company based in Victoria BC, works with clients across Canada and locally. We are available by phone between 8:30 – 5:30 Monday to Friday: 250-889-1686
Who pays us?
If you have excellent credit and need a traditional mortgage, our cost is covered by the lender. This means you don’t have any extra to pay! There are fees for those with poor credit or who need an alternative mortgage. Our services are usually not paid by the lenders who provide these mortgages. These fees are dependent on the individual situation. They will be discussed upfront with you and clearly disclosed prior to finalizing the mortgage.