Mortgages

Get the absolute best value from your mortgage.

“As first time home buyers, we had a lot of questions but David was always happy to help and prompt in his responses.”

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Tailored Mortgage Solutions for Every Homebuyer

At WealthTrack, we specialize in providing personalized mortgage services tailored to meet the unique needs of each client, from first-time homebuyers to seasoned investors expanding their real estate portfolio.

Our dedicated team is here to guide you through every step, ensuring a seamless and successful mortgage experience.

How it works

1. Discovery Meeting

We’ll connect to learn about your mortgage goals and financial circumstances, and take the time to explain how everything works.

2. Solution Exploration

We’ll use your goals to assess more than 50 lender options and present you with the best ideas for your long term benefit.

3. Implementation

With your approval, we’ll use our proven process to take your mortgage application all the way to closing day, keeping you informed along the way.

Steps in the Mortgage Process

  • We’ll connect and talk about your situation and goals.

  • We'll be gathering the information we need to set things up perfectly for you.

  • We’ll review your options and our recommendation for the best way to move forward.

  • Your rate will be held for 90-120 days, we’ll be ready to move forward as soon as you are. 

  • Your application will be with the underwriter to review our info and process the application.

  • Your application will be approved and we’ll meet to review the offer and gather some final info.

  • Everything will be complete and you’ll take care of any loose ends with your lawyer if needed.

  • Closing day! Funds will transfer automatically and everything will be finalized by the end of day. 


Be aware that your journey may be different, the steps provided above are a general guide for what you can expect.

*Here is a list of mortgage document examples you can reference during the Gathering Documents step (not all documents will be relevant for your mortgage journey)

What Brings You Here Today?

It’s time to get a place you can call yours.

Let us help you get mortgage approved for your biggest adventure yet, home ownership.

First Time Homebuyer Incentives

In Ontario, there are a number of government-backed incentives offered to first time homebuyers. These incentives provide you with down payment support and a reduction in some of the fees you’d normally pay.

Let us help you to understand which of these incentives might be available to you, and how you can access them.

Home Buyers Amount - A $5,000 tax deduction for the purchase of a qualifying home. You claim this on your income taxes, and it would provide a rebate of approximately $750.

Home Buyer’s Plan (HBP) - Allows you to use your existing RRSP as a down payment that you pay back to yourself over as long as 15 years. You withdraw without penalty, and pay back by contributing back to your RRSP in future years.

GST/HST New Housing Rebate - Allows you to recover some of the GST/HST cost when you purchase a new or substantially renovated home that qualifies, to a maximum of $24,000.

First Home Savings Account (FHSA) - Designed for first-time homebuyers, this account allows you to contribute up to $40,000 tax-free towards your initial home purchase.

First time buyers

Tools for First Time Buyers

Did You Know We Provide Free Seminars to First-Time Homebuyers?

When you attend, you’ll learn about the pre-approval process, working with a realtor, how to negotiate the offer, and the mortgage application process.

Move Sooner Than You Think

  • Get expert advice

  • Get approved for the best financing

  • Pay less in interest

Gain Confidence In Your Decisions

  • Location and neighbourhood

  • Rates

  • Home inspection

Sign up for our newsletter to stay up to date on our upcoming First-Time Homebuyer seminars.

You need a mortgage with room to grow.

Let us help you get mortgage approved for your next home or your dream home.

Get started with best mortgage for you today!

When you book a mortgage consultation with David Pipe, you’ll receive:

☑️ A proven and effective process to help you make the right decision

☑️ All the knowledge and expertise of a trusted advisor

☑️ Regular check-in consultations at no charge

☑️ A broader range of mortgage options from top providers

☑️ A dedicated and unbiased single point of contact

☑️ A friendly, zero pressure environment

☑️ The free family budget template (for Excel)

☑️ Flexibility for virtual or in-person consultation

☑️ Help with any necessary paperwork

Family home mortgage

Mortgage Calculators for Your Next Home

You have big plans!

Let us help you to refinance or renew your mortgage so that you can keep getting things done.

Top 5 Tips for Renewing Your Mortgage

  1. Start Your Research Early - It is best to mark a date in your calendar that is 4-6 months ahead of your renewal date. Your current lender should send you a renewal notice, but don’t wait for that. If you have a little more time to make your decision it will save you big headaches and potentially thousands of dollars

  2. Don’t Settle for the Posted Rate - Often your renewal notice will arrive with a standard rate offer that automatically kicks in if you do nothing. Remember that you can save thousands and never have to enter a bank branch by working with a trusted mortgage broker.

  3. Go Shopping - Take some time to educate yourself on your options. This is the time to consider switching lenders if it will benefit you. There is no prepayment fee when you switch lenders at renewal time.

  4. Don’t be Romanced by a Low Rate - The interest rate is only part of the total package. Make sure you ask questions about the other fees and penalties. Ask about the options such as prepayment priviledge. Your broker can help you focus on the things that matter to you.

  5. Work with a Licensed Mortgage Agent - This is the only way to get comparisons from dozens of lenders, including the big banks. You can rest assured with professional advice that comes to you at no cost.

New home buyer

Mortgage Calculators for Refinance or Renewal

Reasons to Refinance Your Mortgage

A refinance is a change in your mortgage where you are increasing the amount you owe and taking out cash. This works for people who have seen their house value increase over time, and now they have enough equity in their home to borrow against it.

A refinance is borrowed money, so be sure your plans are well thought out so that you do not end up in more debt over the long run. Some example reasons when it could make sense to refinance include:

  1. Pay off higher interest debts like credit cards, vehicle loan, or line of credit

  2. Plan for a large expense such as university tuition or a home renovation

  3. Purchase a cottage for your family to enjoy

  4. Invest in a rental property or a house for your kids while they attend school

This solution is not for everyone, and there are reasons you should avoid this if it doesn’t fit with your needs or comfort level.

It’s time to build some lasting wealth.

Let us help you to navigate the financing process so that you can make your investment plans a reality.

We help with the financing, you bring the elbow grease.

Maybe your child is heading away to college or university soon. Maybe you have a love for real estate, or you are in the skilled trades or building industry. Maybe you live in a university town and see thousands of students renting homes across town. There are many reasons why people look into real estate investing. Whatever your reason, you may find that many of Canada’s biggest banks are not very interested in rentals, especially student rentals.

Financial Benefits of Owning an Investment Property:

  1. Appreciation - Your assest (the house) increases in value over time. In Ontario the average annual appreciation is between 4-5% since the 1980s. While the actual apprecation will be different depending on market conditions, your location, and your property, you can count on the value of real estate to appreciate over time.

  2. Income Pays The Mortgage - If done correctly, your rental income will cover all your expenses including your mortgage payments. This means that as your mortgage principal is paid off, the value of your equity increases.

  3. Cash Flow - You have done all your homework to pick a desireable property in a good location and you have found a price that meets your needs. Once rented, the property can produce a positive cash flow (income) for you each month. This positive cash flow is money in your pocket every month, and can be set aside for expenses or invested as you see fit.

Home renovation

Mortgage Calculators for Investment Properties

Beware, owning an investment property isn’t all sunshine and rainbows.

As with any major financial or investment decision, you should take time to carefully consider this, and seek advice from professionals when it comes to your mortgage, the property, and the tax implications. Aside from that, you should know:

  • It can be a challenge to get financing because the requirements for down payment are higher. You generally need at least 20% down to purchase an investment property

  • All lenders have guidelines that specify the kinds of properties they will lend on. When it comes to investment properties (including rentals and flips) you need to be careful that you are working with a good lender. Nothing is worse than a last minute financing problem that costs you time or money.

  • You will have to provide proof of income to support your investment, and lenders have different rules about how they measure the income that can make it seem complicated

Aside from the financial challenges, there can be others as well. As a licensed mortgage agent and an investment property owner since 2016, I am uniquely equipped to help guide you through the process!

Spend more time doing what you love.

Let us help you get access to your home equity with a reverse mortgage, with regular income that you can depend on.

Like most Canadians over 55, your home is your largest asset and part of your retirement plan.

You could wait until then to enjoy the "fruits of your equity," or unlock the value in your home now with a Reverse Mortgage or an Income Advantage cash flow solution – both are simple, easy and dependable ways to access tax-free cash from up to 55% of the equity in your home. There are no credit or income qualifications, you maintain ownership of your home and best of all … there are no regular monthly payments required.

  • EASY: Free up tax-free cash to invest, travel, pay off debt, renovate or just sleep easier.

  • FLEXIBLE: You can choose to take a lump sum* or receive payments over time.

  • TAKE BACK CONTROL: Lifetime approvals mean you can continue to live in your home until you decide to move or sell.

  • NO PAYMENTS REQUIRED: Your home continues to appreciate and there are no regular monthly payments required until you move or sell it.

Put your home equity to work for you now.

You want the absolute lowest mortgage rate.

Let us help you gather the information you need to make the best decision for your family.

Mortgage rate shopper

Mortgage Calculators for Analytical Shoppers

Tips for Mortgage Rate Shoppers who want to save money

  1. Mortgage Term - You may find that a shorter or longer term has an effect on your rate. If you need to make a trade-off of time for a small rate savings, it might be worth it to you.

  2. Variable vs Fixed - History has shown that variable rates will save you money compared to a fixed rate. This makes sense with the bank assuming more risk. Sometimes the fixed rate is actually lower than variable, but this is rare.

  3. Penalties - Mortgage prepayment penalty is by far the one you should watch out for. Penalties are usually much higher for fixed mortgages than variable rate mortgages. You need to consider this when choosing, since more than half of people with 5-year fixed mortgages will end their mortgage early (by selling or switching). A few dollars of savings on rate can be wiped out by a large penalty. Lenders also have their own policies that differ, so make sure you get advice on how to minimize penalty unless you are 100% sure that you won’t need to break early.

  4. Promotions - Many lenders offer promotions from time to time that give you some extra benefits such as cash back, waived appraisal or legal fees, or even paying the interest for you for a period. Ask about which promotions are available, and make sure you factor this into your calculation.

  5. Government Incentives - Mostly for First-Time Homebuyers, government incentives can help save you money, pay less taxes, or get more house for your money. You should always be aware of the current incentives when you are looking for a mortgage, and find out if you are eligible.

  6. Down Payment - Your down payment has an impact on the rate you can receive. Believe it or not, but those with the minimum down payment often get the best rate because their mortgage is insured. This doesn’t mean you should put less money down, because those customers must pay for the mortgage default insurance. In general, a higher down payment is good for you because you will minimize interest costs.

The key message here is that if you look only at the rate, you will miss out on some large factors that make up the total cost of your mortgage. Only an experienced mortgage broker can compare across dozens of lenders and hundreds of options to see what works best for you.

The best advice is to start researching early, and find a mortgage broker you can trust to help you through the process. There is no cost to you for our services and you can rest easy knowing that you have a mortgage expert doing most of the heavy research for you.

Want to learn more? Click to read frequently asked questions about mortgages

Hear firsthand how WealthTrack can provide peace of mind and financial security to our valued clients.

“David has the ability to take a stressful and intimidating situation and completely streamline and simplify it. His patience and level-headed nature lend itself perfectly to helping make those crucial life-choices. In a sea of uncertainty, David is someone I definitely want on my side.”

“What standout the most when dealing with David is his transparency and how much he cares to provide the best for his clients no matter what. His tips and advices are amazing and he makes sure to provide the proper financial education to his clients based on their situations. I highly recommend using David Pipe services!!"

Feel Confident with Free Advice from a Mortgage Professional

  • A proven process to help you get there. It all starts with a foundation of understanding your needs and goals first.

  • Knowledge and expertise to help you clean up all the clutter of information and make things clear so that you can make the best choices.

  • The ability to choose from a comprehensive set of mortgage options that are tailored for your goals.

I’d be happy to help

I work for you to compare dozens of banks and mortgage lenders to get you the best value at no cost to you.

David Pipe, Licensed Mortgage Agent L2

David Pipe, Licensed Mortgage Agent L2

Frequently Asked Questions About Mortgages

  • A mortgage is a loan used to purchase or maintain a home, land, or other types of real estate. The borrower agrees to pay back the loan over a set period, typically 20 to 25 years, along with interest.

    To learn more, visit How Does a Mortgage Work?

  • The mortgage term is the duration of your contract with the lender, detailing the interest rate, prepayment rules, and penalties. Amortization is the total time it takes to pay off your mortgage, usually spanning 25 or 30 years, during which you may have multiple terms with varying conditions.

    To learn more, visit Which Mortgage Term is Best?

  • A fixed-rate mortgage has a constant interest rate and monthly payments that never change. An adjustable-rate mortgage has a rate that can change, causing monthly payments to increase or decrease.

    To learn more, visit When Do Mortgage Rates Go Up?

  • A down payment is a portion of the home price that the buyer pays upfront in cash. It's usually a percentage of the total purchase price.

    To learn more, visit How Much Mortgage Can I Afford in Ontario?

  • Pre-approval is a lender's initial evaluation of a borrower to determine how much they can borrow. It shows sellers that you are a serious buyer and can give you an edge in competitive markets.

    To learn more, visit Do I Need to Get a Mortgage Pre-Approval?

  • Closing costs are fees and expenses you pay to finalize a mortgage. These expenses can include Appraisal Fees, Legal Fees, Home Inspection Fees, Land Transfer Tax, and Lender Fees.

    To learn more, visit How Much Does a Mortgage Cost in Ontario?

  • Refinancing is the process of replacing your existing mortgage with a new one, typically to reduce your interest rate, cut monthly payments, or change lenders.

    To learn more, visit The Benefits of Refinancing Your Mortgage in Ontario

  • Home equity is the current market value of your home minus what you still owe on the mortgage. It's the amount of money you'd receive if you sold the house and paid off the remaining loan balance.

    To lean more, visit How to Pay Off Your Mortgage Faster in Ontario