Residential Mortgage

Reliable Financial Group Inc (RFGI) have many years established relationship with private and institutional lenders for Residential Mortgages

Residential Mortgage at a glance:

  1. For purchase, refinance, equity take out, debt consolidation, switch/transfer etc.
    2. Amortization up to 35 Years
    3. The borrower can be employed, self employed, retired, new immigrants etc.
    4. High ratio mortgage or conventional mortgage
    5. Loan to value up to 95% arranged.
    6. The mortgage terms available from 6 months to 20 years
    7. Arranged best interest rate suitable to credit ratings, properties, down payment or equity,
    8. Home equity line of credit
    9. Second mortgage from private lenders maximum up to 90% LTV arranged with in 8 days.
    10. Equity line visa also arranged as second mortgage, use as visa card, pay minimum or pay off balance at any time.
    11. Almost all borrowers can get mortgage whether bad credit, good credit, currently discharged from consumer proposal or bankruptcy etc.

Uninsured Program from Mortgage Company

  • No minimum beacon (Lower the beacon lower the LTV we can even consider Beacon Rejects)
  • No property tax holdback/fees can be capped when applicable
  • Up to 80% ltv on owner occupied properties **including condominiums**
  • 30 year amortization
  • Fully featured mortgage solutions. 20/20 prepayment privileges.
  • Can be paid out at any time for any reason WITH penalty
  • Full time landlords welcome!! (100% rental offset)
  • Business for Self Stated program up to 80% LTV


  1. Allows BFS stated income and verifiable income applicants
  2. Re-established credit reporting on bureau for a minimum of 12 months
    • Minimum re-established credit 12 months is $5,000
    • Minimum re-established credit 24 months is $1,500
  3. Past bankrupts must be two years past discharge (assessed case-by-case if less than two years)
  4. Minimum credit score:
    • 540 – up to 65% LTV;
      • BFS stated 540-619 up to 60% LTV;
      • BFS stated > 620 up to 65% LTV
    • Credit counselling, Orderly Payment of Debt (OPD), Credit Counselling on repayment 12 – 24 months:
      • 540-619 credit score up to 60% LTV;
      • > 620 credit score up to 65% LTV
  5. Lender fee may apply for < 620 credit score
  6. Up to 35-year amortization (< 600 credit score max 25-year am.)
  7. GDS/TDS:
    • NA/45%
    • BFS Stated <600 credit score: NA/42%
    • Bankruptcy discharged less than two years: NA/40%
  8. LTV up to 65% (maximums assessed case-by-case)
  9. 1-5 year fixed rate terms available.

Some Challenging Mortgage Closed


Credit Score

Income Type

Property Value

Total Debt

Before Monthly Payment

Mortgage Arranged

Now Monthly Payment

Monthly Savings

Very Bad credit









Good Credit









Bad Credit


















Main Mortgage Types


If you are a first-time homebuyer, getting professional mortgage advice is a great place to start. We specialize in the kind of education that can help get new homebuyers off to a great start! Although mortgage debt is ‘smart’ debt, buying your first home is a huge financial decision and there is a lot to think about. It’s one of the most important financial decisions that most Canadians will make in their lifetime.

You want to take advantage of today’s low rate environment but it can be overwhelming to sort through all of the options out there. Your Mortgage Professional will help get you the right combination of mortgage features, privileges and rate that is best matched to your needs. The right mortgage goes beyond just the rate–it’s important to also consider term, prepayment options, refinancing penalties, restrictions, and fees.

Determine what you can afford. Before you start shopping for a home – and long before you consider putting an offer on one – let us help you determine how much home you can comfortably afford. Having a realistic budget to start will bring you confidence, knowing that you are not overextending yourself. Remember that home ownership involves costs beyond the monthly mortgage payment such at utility bills, insurance, taxes, home upkeep.Be sure to talk to us about getting pre-approved, so you’ll get your interest rate guaranteed for a set period, typically 90 to 120 days.

Down payment options. Down payment is one of your most important considerations before you look to purchase your new home. If you’re in the “saving up” stage of preparing for home ownership, this is a great time to meet with us so we can discuss your down payment options. In most cases you want to save five percent of the purchase price.There are a few options to consider for first-time homebuyers who may have smaller amounts to start:

  1. The Home Buyers’ Plan (HBP) – first-time homebuyers can withdraw individually $25,000 or $50,000 with a spouse tax-free from their RRSPs, provided they adhere to the repayment plan.(PLEASE CHECK CURRENT RULES)
  2. Gifted down payment from a parent or blood relative – can be a source of funds as long as the homebuyer receives in writing that they are not required to pay the money back at any time.
  3. Start off small – the dream house may be priced too high, so a starter home might be the right option for a first-time homebuyer. A smaller home or maybe a house just outside of the expensive area will help get a foot in the door. The homebuyer can take advantage of the low interest rates to pay off the home quicker and use the equity from the first home to buy the dream home later.

Build a team of professionals. We’d be happy to help you build a strong away team so that all aspects of your home buying experience are efficient and professional. Your team will include a realtor, lawyer, and a home inspector.

Plan for closing costs. There are additional costs that come with buying a home so you’ll need to have some extra funds set aside to cover these costs. Generally, you can expect to pay between 1.5% and 4% of the home’s selling price in total closing costs. We can outline all of your closing costs so you won’t be caught by surprise.

Your Mortgage Professional will also provide strategies to help you pay your mortgage off faster and shave thousands off interest costs.

There’s so much to consider. Work with your Mortgage Professional today so you can get into the market and start your wealth building with smart debt! We’ll help you get off on the right foot in your home buying journey.

We look forward to helping you achieve your dream of homeownership!


If you’re carrying high-interest credit card debt, car loan, personal  loan, line of credit that has caused your cash flow to slow to a trickle, you owe it to your financial future to have a conversation about how you can roll that debt into your mortgage so you can save – thousands of dollars. By using your home equity to consolidate your debt, you can improve monthly cash flow, have one easy payment.


At renewal, you can renegotiate everything pertaining to your mortgage – amortization, rate, term etc. with no penalties. Your lender will be interested in seeing you come back, but it’s important to investigate your options and make sure you are getting the best possible deal. Therefore you shall visit mortgage professional  to discuss and find best possible solution in favor to you.

Mortgage renewal is also an important time to decide if you should roll your high-interest credit cards and other debt into your mortgage to get one lower payment, boost your cash flow, and save on interest costs. Or perhaps it’s a good time to take some equity out for renovations, a second property or for investing.

4.New to Canada

Just because you are a new immigrant does not mean that you have to wait to purchase a home. If you have been in Canada for less than three years, have landed immigrant status, and have been employed in Canada for a minimum of three months, you can qualify for a mortgage.

The documents you will need include a letter from your employer, a recent pay stub, and 12 months verifiable bank statements from a recognized financial institution. This can include a financial institution from your country of origin if you have been in Canada for less than 12 months. Also acceptable is 12 consecutive months of 2 verifiable monthly payments in good standing. (e.g. phone or utility bill).

5.Self Employed Category

When it comes to mortgages, it hasn’t always paid to be self-employed – because reducing your taxable income can make it difficult to qualify for the mortgage you deserve. We understand business owners because we’re business owners, too.

What’s better, we have a long list of institutional and private lenders that offer excellent mortgage options for self-employed Canadians. These lenders in Canada understand that self-employed individuals have tax write-offs creating significant reductions in their declared income. With these mortgage lenders, you will not be required to prove your income and a reasonable estimate of your annual income will be acceptable.

Having multiple lenders compete for your business is a great way to ensure you get the best rate for your situation. We deal with multiple lending institutions, including major banks, credit unions, trusts and other national and regional lenders, which means we can put significant negotiating power behind finding the best mortgage to fit your specific situation.

6.Investment Properties:

Investment properties – particularly smaller, residential real estate – are now accessible to many average Canadians. And as any homeowner will confirm, real estate has been one of the most attractive investment categories in Canada for the past decade. If you’re considering an investment in real estate, start by having a conversation with an experienced Mortgage Broker, to explore some of the innovative new options and great rates available today.

7.Second Homes

There are many Canadians jumping at the chance to own a recreational property. The aging baby boomer population is flush with capital and an insatiable desire for a waterfront or other recreational property. And with the advent of better roads, Internet and telephone service, satellite service, and winterization expertise, people are realizing that vacation properties can make ideal retirement homes. No longer just perceived as a welcome retreat from the city, a second home is now viewed as a solid financial investment with the added value of a potential retirement property.

 Requirements for Residential Mortgage

  1. Please use our from and APPLY NOW.
    2. Relationship between applicants and no. of dependents below 18 years if applicable
    3. Copy of MLS and sales and purchase agreement.
    4. If purchase, proof of down payment by 3 months bank statement or GIC/GIFT,RRSP etc.(later needed)
    5. If purchase closing cost from own savings approximately 1.5% of the purchase value(later needed)
    6. Last 3 years residential history of the applicants with complete address with postal code and if rented what is rent per month
    7. Applicant’s assets like cash in bank, no of vehicle and value, RRSP/RESP, INVESTMENTS/STOCKS/MUTUAL FUNDS ETC., household goods value, deposit in purchase, any other assets.(If any available can write in brackets)
    8. last 3 years employment history (employer name, address, phone #,designation, gross income, since when etc)if self employed last years NOA, COPY OF BUSINESS LICENSE(Shall be older 2 years or more)
    9. If refinancing how much money to take out and purpose.
    10. Principal home mortgage details like out standing balance as on today, monthly payment, interest rate, maturity date, who is lender, purchased date, purchased value, annual property tax,(if buying another home or refinancing home)
    11. If refinancing existing home details like, age, living area, lot size area, home type(detached/semi detached/row housing/high rise apartments etc), 1 story/2 story etc, garage attached or detached and no. of garages.