Condo Mortgage
Toronto Condo Mortgage Solutions for Buyers and Owners
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Toronto’s condo market is shifting—and whether you’re buying your first unit or already own one, your mortgage strategy matters more than ever.
With high inventory, falling prices, and tighter lender rules, condo financing requires more than a basic pre-approval. You need a mortgage partner who understands how fees, building health, and pre-construction deposits impact your approval and long-term costs.
We deliver smart and personalized condo mortgage solutions—for buyers and owners—backed by access to 50+ top lenders.
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Smart Mortgage Solutions for Toronto Condo Buyers and Owners
💡 Did You Know?
Toronto’s condo market is at a turning point—with more inventory, more price flexibility, and more opportunity for informed buyers. But did you know that condo financing comes with unique rules and risks that many traditional lenders still don’t fully understand?
For example, when qualifying for a condo mortgage, lenders factor in maintenance fees into your affordability ratios—something they don’t do for freehold homes. And before you’re approved, they’ll want to review the Status Certificate, reserve fund health, and even condo bylaws—because buying into a building means buying into its finances.
Thinking of buying pre-construction? You’ll need to plan for staggered deposit payments and understand how your unit will be appraised at closing—especially if prices drop between now and occupancy.
Already own a condo? You may have equity to unlock, or need a refinancing solution to renovate, switch lenders, or invest in a second property.
📢 Whether you’re a first-time condo buyer, investor, or current owner, we’ll guide you through every step—with smarter strategies, lender access, and tools designed for Toronto’s condo market.
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Fun Facts About Mortgage Architects & Dominion Lending Centres
A Decade of Strength – Mortgage Architects (MA) was acquired 10 years ago by Dominion Lending Centres Group (TSX: DLCG), the largest mortgage brokerage network in Canada and the #1-ranked mortgage originator with all of the country’s top 10 lenders.
A Trusted Brand – As a prominent brokerage within DLCG, Mortgage Architects has built a reputation for expert guidance, exclusive lender access, and top-tier mortgage solutions.
A True Juggernaut – Founded in 2006, DLCG boasts 8,500+ mortgage professionals across 500+ locations nationwide, funding $62 billion in mortgages annually—a powerhouse in Canadian home financing.
Tech-Driven Excellence – DLCG’s fintech platform, Velocity, revolutionizes the mortgage process by streamlining approvals, making home financing faster, smarter, and easier for Canadians.
More Choices, Better Rates – Our exclusive relationships with major banks, credit unions, and alternative lenders give you access to the best mortgage options tailored to your needs.
A Company That Gives Back – DLCG and Mortgage Architects support local communities across Canada, promoting financial literacy and helping families achieve homeownership.
Our experience and exclusive status work for YOU!
Our Simple, Expert-Guided 4-Step Mortgage Application Process
1️⃣ Get Started: Free Consultation—Contact Us!
2️⃣ Personalized Mortgage Strategy
3️⃣ Pre-Approval & Online Application
4️⃣ Lender Review and Approval
Essential Documents for a Smooth Mortgage Process
Providing all the required documents upfront ensures a smooth and efficient mortgage process. Below is a list of items we may require, depending on your specific situation:
✅ Property Details
To ensure a seamless mortgage application, we may need the following property-related details:
• Agreement of Purchase and Sale
• MLS Listing (if applicable)
• Contact information for your lawyer (name, address, phone, and email)
✅ Personal Identification
• Two pieces of government-issued ID for all applicants
✅ Income and Employment Verification
• Recent pay stub(s)
• Letter of employment (on company letterhead, stating salary, position, and length of employment)
• T4(s) and Notice of Assessment(s) (NOAs) for the last two years (for self-employed applicants)
✅ Down Payment & Financial Information
• Proof of down payment (90-day history of savings/investments)
• Gift letter (if applicable) along with supporting bank statement
• Void cheque or pre-authorized payment form
• Copy of home insurance policy
Additional Requirements: Depending on the property and lender, an appraisal may be required.
What You Can Expect from Us:
At Mortgage Architects, we are committed to understanding your needs today while helping you achieve your long-term financial goals. Our team works diligently to match you with the right mortgage solution. With access to over 50 lending institutions—including major banks, credit unions, and exclusive alternative lenders available only through licensed mortgage agents—we secure the best financing options tailored to your unique situation.
Our Commitment to You:
• We simplify the mortgage process and provide clear guidance every step of the way.
• We advocate on your behalf to get the best possible mortgage terms.
• We stay connected even after your mortgage closes, providing ongoing advice as your financial needs evolve.
Frequently Asked Questions
1️⃣ What makes condo mortgages different from freehold mortgages?
✅ Answer: With condos, lenders must factor in your monthly condo fees when calculating affordability. That means your maximum mortgage amount may be lower than with a freehold property—even if the purchase price is similar. Lenders also review the financial health of the condo building, including the reserve fund and status certificate.
2️⃣ How do condo fees affect my mortgage approval?
✅ Answer: Lenders include 50% of your monthly condo fees in your Gross Debt Service (GDS) ratio. The higher the fees, the more they impact your borrowing power. That’s why understanding condo fees up front—and how they affect approval—is so important.
3️⃣ What is a status certificate and why does it matter?
✅ Answer: A status certificate is a legal document that outlines the financial and legal health of the condo corporation. Lenders use it to assess risks like pending litigation, underfunded reserves, or special assessments. We review it with you to ensure there are no red flags before you commit.
4️⃣ I’m buying a pre-construction condo—how does financing work?
✅ Answer: Pre-construction mortgages involve staggered deposit payments and appraisal risk at closing. We help you plan for both—by securing pre-approvals, arranging long-term rate holds, and preparing financing strategies in case your final appraisal comes in below your purchase price.
5️⃣ What if my pre-construction condo appraises below the purchase price?
✅ Answer: This is becoming more common. We work with lenders offering blanket appraisals, second mortgage stacking, and builder-backed renegotiation programs to help bridge appraisal gaps and protect your financing. Don’t wait until closing—we can prepare well in advance.
6️⃣ Can I get a mortgage for an assignment sale?
✅ Answer: Yes, but it’s more complex. Assignment sales often require larger down payments and more lender documentation. We work with lenders familiar with this structure and can help you avoid financing delays or denials.
7️⃣ I already own a condo—can I refinance or switch my mortgage?
✅ Answer: Definitely. Whether you want to access equity, lower your rate, or switch lenders, we can help. We’ll review your unit’s market value, the condo corporation’s standing, and your current loan terms to make sure refinancing makes financial sense.
8️⃣ Do lenders offer different rates for condos?
✅ Answer: Not necessarily—but the type of property and building can impact which lenders are available to you. For example, micro-units, Airbnb-designated buildings, or high-ratio loans on newer condos may be restricted by some lenders. We help match you with lenders that like your building type and location.
9️⃣ Can I buy a condo with less than 20% down?
✅ Answer: Yes—if the purchase price is under $1 million, insured mortgage options are available with as little as 5% down (on the first $500K, and 10% on the balance). For pre-construction units, developers typically require 20% in deposits, so we’ll help structure both your lender and cash flow plans.
🔟 What are today’s condo mortgage rates?
✅ Answer: Rates change daily and depend on your income, down payment, and unit type. We work with over 50 lenders to secure the best available rate for your specific condo purchase or refinance.
We’re an award-winning team in Toronto, powered by Canada’s top mortgage network—funding more mortgages daily than any bank.
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Matthew Dobson #M24003077
Mortgage Agent Level 1
Mortgage Architects #12728
c: 416-342-3952
e: md@mortgagearchitectsgta.ca
MA Mortgage Architects Inc.
5675 Whittle Road
Mississauga, ON L4Z 3P6