Unlock your Ownership Dreams with PolyLine Group's Residential and Commercial Mortgage Solutions

Expert advice, personalized options, and access to the best mortgage rates across Canada—tailored for you.

What are the 6 Major Factors that Lenders Use to Qualify you for a Mortgage Loan

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Get Great Advice and Determine your Down Payment

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Pre-approval

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Renewals and Transfers

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Reverse Mortgage

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Investment Properties

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What Makes our Clients have a Bright Financial Future?

Getting the Best mortgage solution and best rate to go with it.

Residential Mortgage

Whether you are a first-time buyer or an experienced buyer with excellent credit, we have access to the very best products and rates available across Canada. Give us a call and get great advice—we think you’ll be pleasantly surprised!

What are the 6 Major Factors that Lenders Use to Qualify you for a Mortgage Loan

1. Your income and your employment history

2. Your debts

3. The size of your down payment

4. Your credit history

5. The property’s value

6. Your proof of identity

Your Income and Employment History

Your Income plays a major role on the mortgage approval. You don’t need to be wealthy to qualify for a mortgage, however, the lender needs to know how much of your total income will be spent on housing to decide your affordability. Lenders are more likely to lend money to those who have steady employment. Any part time income, commission, self employee income, business income can be considered as an income. Self employed/ commission/ business income requires 2 year history. There are some exceptions, talk to our team if you have questions.

Your Debts

Lender considers how much of your total income will be spent on debt owing. They calculate your Growth Debt Service and (GDS) and Total Debt Service (TDS) ratio to determine what you can comfortability afford.
The Debts are including any car loan (Finance or lease), Line of credit, Credit card, Mortgage amount, Student loan, Card charge, Child Support that you may pay monthly payments to plus any loan you’re signed as a guarantor or co-signer.

Your Down Payment

The amount of your down payment could affect your mortgage approval.

Get Great Advice and Determine your Down Payment

Your Credit History

The credit history is one of the important factors of qualifying for mortgage. Lender will determine mortgage approval base on good credit score and credit report.
Credit score is a number that signals your financial health at a specific time. It also gives information about your financial past, and how consistently you pay off your bills and debts. Lender like to see at least 2 items reporting to your credit bureau, to determine your mortgage approvability. If you don’t have it, they look at any bill payments or rent payments to see your debt responsibility.
Credit score number is between 400 to 900. Also, Credit score of over 680 consider as a good credit.
Your Credit report is a detailed summary of your credit history, employment history and personal financial information, including your phone number, address etc. You can get your credit report through one of Canada’s credit-reporting agencies, Equifax Canada and TransUnion Canada. by creating online account to their portal, you can easily order the report and receive it by mail. If you see any error contact them and ask them to fix it.
Start to build your credit score as soon as possible and then use it responsibly, manage your credit well, pay off your bills on time or at least pay the minimum payment. Don’t use your credit if you can not pay it back on time. Don’t spend over limit in your credit cards, keep your balance up to 30% of your limit, keep at least 2 active credit cards and don’t apply for more credit cards or loans than you can comfortably manage.

Value of the Property

Lenders want to ensure that the home you want to buy is worth the price you plan to pay. They will request a professional appraisal to appraise the home value. It is very important to have it for your protection as well.
If you stop making mortgage payments, the lender has the right to sell your home to pay off the loan (a process called ‘foreclosure’). The home’s value is the lender’s best assurance that they can recover the money with selling the home in the event of stop making mortgage payments for more then 3 months.

Pre-approval

The 3 most important things when buying a property are

1. Assess your borrowing capacity

2. The size of your down payment

3. Seeing if you are financially ready

Whether you are first home buyer or an experienced buyer, start your pre-approval process today and get a solid idea about all the important keys of mortgage size and lock in your best rate.

First Time Home Buyer

We are experts on making your first experience to the best experience.

If you are a first-time homebuyer, before making any decision you need to understand which kind of options are available for you if there is any

Buying Your Next Home

If you are thinking about buying your next home, there are some important questions you need to answer before starting the process. This will help us provide the right solutions and the best mortgage strategies for your situation.

The First Things We Need to Clarify is:

Do you want to sell your current home? If so,

Do you have equity on your current home which you want to use for down payment of your next home?

Do you want to first sell your home and then buy the new one or vice-versa?

Do you owe debt on your current home? if so, do you want to pay it off or transfer your mortgage to the next home?

If you Want to Keep your Current Home:

Do you want to rent it and move to new home?

Or do you want to buy it as an investment property?

How much is the down payment and what is the source of down payment?

What is the market value and market rent of your current home?

There are event more questions involved and we need to clarify them. The best ideas for buying your next home are contact us to review all the scenarios, clarify all the details and get pre-approval.

Renewals and Transfers

We are Working for you to Add up on your Saving by Getting Better Rate on your Mortgage Renewals.

Normally the mortgage contract has the length of time which your mortgage contract is in effect. after this time, you need to renew your mortgage with same lender or transfer it to another lender. The length of time of Mortgage is term of 1,2,3,4,5,10 years. Most of lender send renewal letter 3 or 4 months prior to end of the term which calls maturity date of the contract.

Sometimes, homeowners think it makes sense to stay with same lender as it is easier than shopping around for new mortgage and transferring it, but that only makes sense if they have a better rate with existing lender OR if they wont be able to re-qualify with a new lender, in which case it doesn’t make sense for them to transfer the mortgage.

We are here to make process simple and faster for you. You can start renewal process approximatively 120 days before than your Mortgage maturity date.

Refinance

Refinancing is great solution for getting better rate and reduce payable interest on mortgage, for extend the amortization and reduce mortgage payment, or for free up equity in property and use it for renovating, finishing the basement or either investing.

There are some fees may you face on refinancing such as Lawyer fees and legal fees, Registration fees, discharge fees, penalty fees and appraisal fees. We advise you talk to our experts, calculate all the fees and see if it makes sense to refinance your home or not.

Renewing Vs Transferring Vs Refinancing

Renewing mortgage is when you renew your mortgage contract with same lender and same amortization which transferring mortgage is renewing your mortgage contract with different lender but same amortization. and refinancing mortgage is replacing your existing mortgage with a new one on different terms with same or different lender.

Reverse Mortgage

A reverse mortgage is a loan that allows you to get money from your home equity without having to sell your home, it is ideal strategy for seniors who has paid off their home and wants to free up money & use it as a retirement income and still own their property to transfer to their beneficiaries.

Investment Properties

One of the best ideas for investment is buying property which help you to grow your asset and add positive cash flow to your income.

We are experts on reviewing your situation, outline flexible solutions and find you perfect mortgage fit to your solution.

Additional Mortgage Services:

✅ Vacation properties OR Second Homes

✅ Mortgages for Bad Credit

✅ Cashback Mortgages

✅ Early Renewals

✅ Home Equity Line of Credit

✅ Mortgages for self-employed

✅Mortgage for Business Owner

Frequently Asked Questions

We work with salaried, part-time, self-employed, commission-based, and business incomes to help you qualify.

Our experts provide personalized consultations to assess your financial situation and match you with the most suitable mortgage options.

Yes, we guide first-time buyers from pre-qualification to closing, ensuring a seamless, stress-free experience.

Minimum credit score requirements vary by lender, but we help evaluate your profile and improve your approval chances.

Absolutely. We have relationships with a wide network of lenders across Canada to find you the best rates and products.

Down payment requirements depend on the property and lender, but we’ll help you understand your options and prepare accordingly.

Yes, we work with clients of all credit profiles and can guide you on steps to improve your mortgage approval potential.

The timeline varies based on your situation and lender, but we strive for efficiency and transparent communication throughout.

Get Great Advice

Improve your financial literacy. Create a budget, save for retirement and other long‐term plans, save for short‐term and mid‐term plans, pay off bad debt, use debts in your advantage, buy property, protect your family. Each phase of the cycle overlaps and needs to be managed using a comprehensive approach.