3852 Finch Ave E #209, Scarborough, ON M1T 3T9, Canada
Brokerage #13763
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Brokerage #13763
Whether you're a first-time buyer or moving up, lendsimpl compares lenders to find a purchase mortgage that fits your file — with pre-approval guidance, the stress test and Toronto closing costs explained before you start shopping.
5.0 on GoogleFSRA Brokerage #13763Toronto & Ontario-wideTakes about 30 seconds · No cost to compare your options
Tell us your income, assets and homebuying goals. We submit to lenders and put together pre-approval options, including a rate hold where the lender offers one.
Shop with confidence. Your realtor knows exactly what budget you're working with.
Once you have an accepted offer, we compare final terms across lenders and walk you through fixed vs. variable, term and amortization.
We coordinate with your lawyer, lender and realtor so your closing stays on schedule.
CMHC insurance, the stress test, the First Home Savings Account (FHSA) and land transfer tax rebates — explained before you shop.
Selling and buying at the same time? We coordinate bridge financing, porting your existing mortgage and the timing of your closing dates.
Qualify using stated income or bank statements with lenders who understand self-employed buyers.
Newcomer mortgage programs for buyers who don't yet have a Canadian credit history.
5.0 on Google
Verified reviews
FSRA Licensed
Ontario-wide
A purchase mortgage is a loan from a bank, credit union or private lender that helps you buy a home. In Canada the minimum down payment is 5% on the first $500,000 of the price, 10% on the portion between $500,000 and $999,999, and 20% on homes of $1,000,000 or more — and a down payment under 20% requires mortgage default insurance.
You'll be talking to
Tissa RatnayakeLicensed Mortgage Broker
Anne XavierLicensed Mortgage BrokerNot a call centre, real people, individually FSRA-licensed.
lendsimpl is a Financial Services Regulatory Authority of Ontario–licensed brokerage. Every mortgage agent is individually licensed.
Any lender, broker, legal or appraisal fee that applies to your file is disclosed in writing before you commit to anything.
Your information is encrypted, handled with strict confidentiality, and shared only with the lenders relevant to your file.
5.0/5 average rating on Google
“Damien Atapattu made my mortgage process completely stress‑free. He prepared all documents ahead of time and clearly understands lender, lawyer, and appraisal requirements. A friendly, energetic professional who gets results.”
Aruna Bandaranayake
Google review · 5 mo ago
“Highly recommend! Damien took a lot of time to explain the terms thoroughly. He is very knowledgeable and trustworthy. Looking forward to working with him again!”
Tommy Ravindran
Google review · 6 mo ago
“Shamal was amazing throughout the whole process. He is very helpful, knowledgeable and patient. If you need a good reliable mortgage broker he is the guy! He will find you the best solution.”
Avy Loc
Google review · 7 mo ago
“Highly recommend. Damien was excellent throughout everything. Walking us through everything step by step. He was extremely well prepared and well versed in everything we needed to get a mortgage at a great rate.”
John Abraham
Google review · 7 mo ago
“I had a great experience working with Damien. He helped me secure a very competitive mortgage rate through Scotiabank and made the entire process smooth and stress-free. He was knowledgeable, transparent, and always quick to respond to my questions. I highly recommend him.”
Rz
Google review · 7 mo ago
“I approached lendsimpl for some financing and was amazed at the quality and time frame of service. Within a matter of days my deal was completed. Thanks to Damien and the team for expediting my business so efficiently. I highly recommend them for your financing needs. Five stars from us.”
Sunrise Meadows
Google review · 10 mo ago
The minimum depends on the purchase price.
| Purchase price | Minimum down payment | Default insurance available |
|---|---|---|
| Under $500,000 | 5% | Yes |
| $500,000–$999,999 | 5% on the first $500,000, 10% on the rest | Yes |
| $1,000,000 or more | 20% | No |
5% on the first $500,000
Contract rate +2%
30 years
Common questions from Toronto home buyers.
Have a question we didn't answer?
Our licensed broker team is happy to help.
The minimum depends on the purchase price: 5% on the first $500,000, 10% on the portion between $500,000 and $999,999, and 20% on homes priced at $1,000,000 or more (which are not eligible for default insurance). For example, a $700,000 home requires a minimum down payment of $45,000 (5% on $500,000 plus 10% on $200,000).
A lender reviews your income, debts, credit score and assets to estimate the maximum mortgage you qualify for. lendsimpl compares pre-approval options across lenders for you. Many lenders offer a rate hold — commonly up to 120 days — that protects your rate while you house-hunt.
The federal stress test requires you to qualify at the greater of your contract rate plus 2%, or 5.25%. This ensures you could still afford payments if rates rise. lendsimpl walks every Toronto buyer through the stress test calculation up front so you know your real purchasing power before you start shopping.
Typical costs include land transfer tax (Ontario provincial plus Toronto municipal), legal fees, title insurance, a home inspection and moving costs. Ontario first-time buyers may qualify for a land transfer tax rebate of up to $4,000 provincially and up to $4,475 from the City of Toronto.
Yes. lendsimpl is an FSRA-licensed mortgage brokerage (Brokerage #13763) serving all of Ontario, including Toronto. Our licensed agents explain every fee in writing before you proceed.
The best choice depends on your risk tolerance, timeline and the rate environment. Fixed rates give payment certainty for the full term, which many first-time buyers prefer. Variable rates move with the market and carry more payment risk. lendsimpl compares both for your situation before you decide.
Still have questions?
Straight answers, no pressure.
From downtown Toronto to the GTA and across the province — we arrange purchase mortgages wherever you're buying.
Important
Rates & approvals
Rates shown are indicative for well-qualified applicants, subject to lender approval (OAC), and can change without notice. Your rate depends on your property, down payment or equity, credit profile and the lender.
Brokerage disclosure
lendsimpl is an FSRA-licensed mortgage brokerage (Brokerage #13763) serving Toronto and Ontario. Rates, lender terms and approval timelines vary by borrower profile and lender. All applicable fees are disclosed in writing before you proceed, as required by FSRA regulations.
Talk to an FSRA-licensed broker about pre-approval and your purchase mortgage options. Any fee that applies to your file is disclosed in writing before you proceed.
Hello: I look forward to connecting with you. Tell us a bit about your situation and we'll walk through your options.
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lendsimpl is a Financial Services Regulatory Authority of Ontario (FSRA) licensed mortgage brokerage, Brokerage #13763. Nothing on this page is a mortgage offer, a rate quote or legal advice. Mortgage pricing varies by credit profile, down payment or equity, income type, property type, loan-to-value, term and lender, changes frequently, and is subject to lender approval and underwriting conditions, not every applicant qualifies for a lender’s lowest posted pricing. All applicable fees are disclosed in writing before you proceed. OAC. E&OE.
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