What are the 3 Cs of mortgage lending?
  • Traditional lenders typically base their approval surrounding the 3 C’s – credit, capacity, and character. However, at New Haven Mortgage we do not focus on this criterion and primarily pay attention to the marketability and integrity of the real estate asset in question.
  • 3 C’s of Mortgage Lending:
    • Credit – The borrower’s credit score, payment history, and overall financial situation.
    • Capacity – The borrower’s income and ability to repay their loan.
    • Character – The borrower’s overall attitude and willingness to repay the loan.
Can you get a mortgage in Toronto without a credit score?
  • Yes, you may be able to get a mortgage in Toronto without a credit score. Our team of experienced professionals are well-versed in providing alternative solutions to help our clients find the best deal for their needs. Contact us today at 416-636-0000 to discuss your options and to find out more about mortgage products that may be suitable for you.
What is a private mortgage lender?
  • A private mortgage lender is a company that provides mortgage loans to borrowers who may not qualify for traditional bank financing, as they typically have more flexibility in their lending criteria.
How do you know which mortgage option is right for you?
  • To find out which home mortgage option is best for you, it’s important to consider your financial objectives, budget, and needs. You may even speak to our mortgage advisors to obtain a personalized assessment. We can provide you with an in-depth understanding of your situation and help you find the best route to take.
How do interest rates affect your mortgage?
  • Interest rates are important to consider when looking for a mortgage – as they can influence the price of your monthly payments. Lower interest rates can mean lower payments and vice versa. It’s important to remember that interest rates can change quickly, so it’s best to get in touch with our mortgage advisors first to gain an understanding of what your current options are.
What documents do I need to provide to a mortgage lender?
  • The documents needed for applying for a mortgage loan can vary depending on the property type, financial standing, type of loan, among other factors. If you’re looking to apply for a mortgage loan, contact us at 416-636-0000 so that we can discuss your specific needs.
Is it better to use a private lender or a bank?
  • Using a mortgage lender can benefit borrowers who may not otherwise qualify for a loan with a bank due to credit or other issues. As private mortgage lenders, we are able to provide more flexible terms and conditions, competitive rates, and fast approvals. We look at the whole picture of the borrower’s financial situation to come up with tailored solutions so that they can get the loan they need.
What do mortgage lenders look for on bank statements?
  • When evaluating a borrower’s application, we look at the borrower’s bank statements to understand how they manage their finances and whether they have sufficient liquid assets to pay for their down payment and closing costs. We look at the borrower’s account balance information, income, and expense history.


Brokerage License No.: 10588 Administrator’s License No.: 11284