Looking For The Best Mortgage Deal?
I work for you, not the lenders.
Based in the Okanagan, I create custom mortgage solutions for people all across BC. From first-time buyers to repeat investors, I can help you.
My passion is to help you reach your property financing goals with ease, at the best rate possible, plus provide a stress-free experience from start to finish.
WHY WORK WITH A MORTGAGE BROKER?
There's a big difference between going to a bank vs. a mortgage broker. Banks differ widely in their lending policies, products, rates and terms. Will they approve your application, ensure you get the lowest rate on the market, and guarantee that the transaction closes smoothly? By using an experienced mortgage broker, you’ll be working with an expert who works for you, and not the bank. We access a broader range of lending options, some not available to the public, so by shopping around for the best mortgage rates and terms for your situation, we can also save you time and money. Plus, there’s typically no cost to the borrower as the lender pays the brokerage fee.
Property financing is becoming more sophisticated than ever. With a plethora of lenders and products on the market, making the right decisions can have a huge impact on your finances and your life. With a depth of experience in mortgages, real estate investing, banking and personal insurance, I can help you make the best decisions for you and your family. Whether you are a first-time buyer, currently a homeowner, or are looking to invest in or construct a property, achieving your financial and real estate goals require expert advice. I am here for you every step of the way.
MY PROMISE TO YOU
TYPES OF FINANCING
Renewing your mortgage
Many lenders wait until the last minute to send the renewal notice, leaving you with little time to decide. The truth is that renewing with your bank may be more beneficial for your bank than you. We look out for your interests, not the banks. If your mortgage is coming up for renewal, exploring all your options early is essential. If you are looking to make major financial changes, such as thinking about selling/moving, buying a second property, renovating your home or needing cash for another reason, this is a great opportunity to re-evaluate your goals.
Financing the building of a new property
You’ve decided you want to build a home or investment property. There are many decisions you’ll need to make. I can work with you on all aspects of the process, from purchasing the lot to timely cash advances to securing the final mortgage. I can help you navigate the complex world of construction financing while you focus on building the home of your dreams or building your wealth.
Self-employed business owners
Contrary to popular belief, there are many mortgage options for entrepreneurs. Lenders realize that as a growing demographic in Canada, the self-employed have a different financial profile so lenders have created programs that are specific to them. Mortgage brokers are entrepreneurs too, so thinking outside of the box is what we do. We’ll help you understand the rules surrounding business owners and navigate the best deal for you to secure your property financing.
Renewing your mortgage
Have you decided you don’t want to rent and it’s time to buy your first home? Starting the journey on the right path is so important. The first step is to find out how much you can borrow so you can carry out your search efficiently. You will also have an advantage over borrowers who haven’t completed this step as you will be able to remove your financing condition sooner, plus you can lock-in your rate to protect against rate increases. You will also be able to plan ahead to ensure you have your ducks in a row. Buying can be stressful so using a mortgage broker will mean a streamlined process and the ability to secure the best rate and conditions for your new home.
Refinancing a property
There are a number of reasons homeowners refinance a property, from consolidating debt, requiring funds to renovate their property, access equity to purchase a second or third property to name just a few. There are different products for refinancing that allow you to access the funds when you need them to reach your home equity goals.
Real estate investment
Buying additional properties requires a strategic approach. I can help you understand your cashflow, decide if it's possible for you and the best way to structure multiple mortgages.
This process is free and non-committal. No credit check will be conducted and no information will be shared without your consent. This step is necessary to provide me with an overall sense of your financial profile and your specific needs in order to make informed recommendations for you. After reviewing your application I will:
Let you know If there are any weaknesses in your application and provide recommendations to address them prior to applying;
Provide you your maximum purchase price and mortgage amount including criteria for your down payment;
Inform you about the documentation you'll need including deadlines;
Explain in detail the general buying/contract process;
Provide referrals to expert partners if needed, such as realtors, notaries, etc.;
Inform you of closing costs involved;
Get a pre-approval and rate hold if applicable;
Once you have an accepted offer, find the best mortgage for you.
Complete an application
I gather all the pertinent info via a simple online application form. If you are in a rush, go right to this step.
Reach out to me
Let's chat! Email, text or call me to start the conversation. By understanding your goals we can find solutions quickly.
Analysis and Review
I'll tell you in simple terms how I can help you. We look at your options together, strategize, and then you decide how to proceed.
Secure funding
Let's get it approved! Once we have a lender on board I manage the process so you can go from zero-to-hero with simplicity and ease.
THE PROCESS
As part of the M3 group, the largest brokerage in Canada, I have access to over 40 lenders, which enables me to provide custom solutions to my clients and fit their situation with the right lender. This is just a sample of the lenders I have access to.
MORTGAGE RATES
Bank of Canada Qualifying Rate
5.25%
Prime Rate
7.20%
Lowest 5 year fixed
4.84%
Lowest 5 year variable
P-1.0%
Rates can change daily so please contact me to receive current rates and a complimentary in-depth assessment of your situation and current market conditions affecting your local market.
WHAT MY CLIENTS SAY
★★★★★
THE BEST there is! Lorraine is seriously such a gift to know and work with! I cannot recommend her services enough! I will be working with her on any and all future projects! Thank you thank you thank you! 🙏 😇
Kyla R
★★★★★
Lorraine Bromley was very patient with us and knowledgeable in the world of mortgages and financing. She was friendly and caring and very good at communicating with us throughout the entire process. I would recommend her to family and friends. Thanks Lorraine!
Greg C
★★★★★
It has been a pleasure to work with Lorraine, she is friendly, patient, helpful and shows exceptional integrity in business. We have been able to trust Lorraine's advice and her extensive knowledge and skills, very impressed We highly recommend Lorraine
Catherine R
QUESTIONS?
LET'S CHAT!
Located in West Kelowna BC
Phone: 778-363-2805
Email: lorraine@bromleymortgages.com
Looking forward to meeting you!