Read Our Reviews

Client First Mortgages is rated 4.76 out of 5.0 stars based on 42 review(s).

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Steve made it very easy and simple got a great rate for us highly recommend

- Derek Doucette

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Steve offers outstanding service! Covers all bases for very smooth transitions through the entire process. Thank you.

- Jamie Parkin

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Great guy great service

- William Carrie

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Excellent, professional, efficient. Impressive. Very thankful to have Steve organize the deal.

- Cheryl Harrington

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I was very impressed with the service I received with ClientFirst. I highly recommend them. Very professional and knowledgable.

- Susan arnold

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Very good

- Todd Wiebe

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Steve was extremely helpful, knowledgeable and prompt. He made the process and my options easy to understand and I would highly recommend him to anyone.

- Glen Fishbook

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Steve is fantastic, gets the job done with little fuss and he is clear in explaining the process and mortgage products

- Timothy McCutcheon

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Great service! Thanks Steve!

- Clive Ivins

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Thanks for the work and time you did Thanks again

- Ricky Vella

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Steve was very organized, informative, punctual, and reassuring especially with everything going on with the pandemic and not being able to meet people in person.

- Brodie Procyk

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Very professional, and well informed. I appreciated the advice and service. Steve kept me informed of the latest information and market advice, and quickly helped with my mortgage needs and future planning. I would definately recommend, and will use again Client First Mortgages.

- Susan Arnold

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Steve is very professional and made the mortgage process quick and easy!

- Kent Senko

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This was our first home purchase, Steve was very patient with us, not only explaining all the steps of the mortgage application process but also walking us through various scenerios and concerns.

- Robert Gora

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I would highly recommend Steve DSouza as an amazing mortgage broker. This was my first experience with using a mortgage broker and I must say that he was so on top of every part of the process, extremely professional, and got us an amazing result in a very timely manner, especially through this COVID-19 time in our lives. I highly recommend using Steve DSauza for your mortgaging needs.

- Lynn Anderson

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Steve made the mortgage process smooth and simple. As questions arose, communication was clear and helpful. As a first time a first time home buyer, the learning curve of finding an ideal mortgage resembled less of a mountain and more of a hill. Would recommend.

- Joel MacLean

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Hey there Steve. You made the process smooth and informative; you brought clarity when answering questions and it couldn't have been a better process. The place is great, and our transition into it has been easy! We will definitely recommend your services to friends and family.

- Joel M and Aaron M

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First Class

- Richard Brown

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Steve was very helpful from the beginning. He was knowledgeable and professional. Highly recommended!

- Alan Braun

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This was my first time using a Mortgage Advisor and I wasn't disappointed. Nathan was professional, helpful, knowledgeable, and so informative. I got a great rate on my mortgage. I would definitely recommend Nathan to my friends and family.

- Jennifer Baillie

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Very professional and got me a great rate!

- Pamela House

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great job

- Nelson Talbot

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Great to work with; knows his stuff.

- Scott Walters

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Had the privilege of working with Steve D'souza as my mortgage advisor. He went over and above for me and gave me all the information when it comes to the fine details of the mortgage and the best deal. Will definitely be recommending Steve to all my friends and family.

- William Lawless

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We’ve worked with Nathan Isherwood twice now and the process is easy for clients who might not be doing mortgage applications often and his explanations are clear and easily understood.

- Greg Basham

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We've worked with Nathan Isherwood twice now and the process is easy for clients who might not be doing mortgage applications often and his explanations are clear and easily understood.

- Greg Basham

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Steve was easy to work with! He made the process smooth and reduced the stress of financing. His communications were clear and timely. We would definitely use his services again.

- Lisa-Dawn Markle

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I highly recommend Steve & Nathan at Client First Mortgages! I will continue to use personally and recommend to my friends and family for all their new mortgage and re-financing needs!!

- Chase Shymkiw

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I highly recommend Steve & Nathan at Client First Mortgages! I will continue to use personally and recommend to my friends and family for all their new mortgage and re-financing needs!!

- Chase Shymkiw

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I highly recommend Steve & Nathan at Client First Mortgages! I will continue to use personally and recommend to my friends and family for all their new mortgage and re-financing needs!!

- Chase Shymkiw

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I highly recommend Steve & Nathan at Client First Mortgages! I will continue to use personally and recommend to my friends and family for all their new mortgage and re-financing needs!!

- Chase Shymkiw

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I highly recommend Steve & Nathan at Client First Mortgages! I will continue to use personally and recommend to my friends and family for all their new mortgage and re-financing needs!!

- Chase Shymkiw

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Steve! Thank you so much for everything, the mortgage process was seamless and pleasant. Usually a stressful process but you made it so much better, Star and Nabi

- Setareh Doustdar-Haghighi

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Steve always makes himself available, even for the most simple of questions.

- David McKillop

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We recently purchased an investment property and had Steve help us out. He was able to get us qualified at a lower rate and for more money than the bank. He was a pleasure to work with.

- Brad Davis

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We had a really short contract period but Nathan was able to get us approved at a great rate and without any hassles. The whole process was smooth and stress free. Thanks.

- Bradley Davis

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Steve was so helpful, calm, and encouraging every step of the way - he made what could be a very stressful process as smooth and painless as could be. Thanks Steve!

- Natalie Jones

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We are very happy with our dealings with Nathan. He was able to set up things for us quickly and answered any questions or concerns we had.

- Constance Robson

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This is our second time using Steve as our mortgage broker. He goes above and beyond every time. Always answers questions we have no matter how big or small, and lets us know what is going on every step of the way! He’s amazing at his job and very knowledgeable!

- Jennifer Boyes

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No one better than Nathan

- Michelle Lycan

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Steve's caring and knowledge was essential.He is an asset to your company!

- Hooshang Jafarzadeh

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Excellent experience. We will highly recommend Steve.

- Christopher Rankin

Are you financially ready for a mortgage or will the change in Stress-test impact you?

Buying a home is one of the biggest financial decisions you will make in your life. Let’s have a look to see if you are financially ready for a mortgage or if the changes in the Stress-test might have an influence on your readiness.

Last week the Federal government announced that on April 6,2020 it will change the way the Bank of Canada (BoC), calculates the stress-test rate that lenders use to qualify all insured mortgage applications.

How does is work currently?

  • The term ‘insured mortgage’ refers to any mortgage where either the borrower or the lender pays for mortgage-default insurance.
  • Borrowers who are purchasing a property with a down payment of less than 20% must purchase mortgage-default insurance. (When the down payment is 20% or more, the borrower and/or the lender has the option for purchasing default insurance (to lower the interest rate).
  • If a borrower applies for an insured mortgage today, that comes with a rate of 2.69%, they must qualify using the current stress-test rate of 5.19%.
  • Last week’s announcement applies to only insured mortgages.

How will it look as of April 06, 2020?

  • Today the insured stress-test rate is calculated using the mode of the Big Six Bank’s current five-year posted rates. The current methodology is flawed because the Big Six don’t actually lend at their posted rates, and they don’t adjust them dynamically in response to market changes. (A recent example: average five-year fixed rates have fallen by nearly 1% over the past 12 months, and the stress-test rate has only decreased from 5.34% to 5.19% over that same period)
  • Effectively April 6, the stress-test rate for insured mortgages will be set each week by adding 2% to the average interest rate on insured mortgage applications over some prior period.

Let’s have a look at some observations relating to this change and how it will likely impact borrowers:

  1. This change will likely hurt affordability in our hottest real-estate markets over the short term. At first this statement may seem counterintuitive. If the stress-test rate drops from 5.19% to 4.89%, shouldn’t that improve affordability? In theory, Yes. but if there are 5 bidders for a property and they can all suddenly increase their maximum mortgage amount, the price of the property is likely to be pushed higher, and that will make it less affordable to whoever makes the winning bid.
  2. The stress-test rate will be more dynamic, but also more volatile. the stress-test calculation tweak is a welcome change because it ties this benchmark directly to real market rates. But that will also make it more volatile. Stretched borrowers, who are pushing to buy at the top of their affordable price range, run the risk that a property they can afford one week, becomes unaffordable the following week, if the stress-test rate edges up.
  3. The new stress-test rate will increase transparency. The stress-test rate will be calculated by taking the average interest rate of the mortgage applications received by all three of our default insurers (CMHC, Genworth and Canada Guaranty). Borrowers will be able to compare the rate they are being offered against the average to see if they getting a good deal.

While this long overdue change will likely reduce today’s stress-test rate from 5.19% to 4.89%, it will also likely decrease affordability over the short term and make the stress-test rate more volatile going forward.

Surprisingly, about two-thirds of Canadian mortgage borrowers still walk into the bank that handles their daily banking, and many accept whatever they are offered without seeking alternatives and this can be an expensive mistake. If you are interested in buying a property, don’t delay, contact one of our experienced brokers to see what you would qualify for.

Original article: www.movesmartly.com