Purchase Mortgage
Whether you're buying your first home or adding to your portfolio, we will find the right mortgage to get you there - at the best possible rate.
If you do not have the funds to purchase the property outright, you will need a mortgage. There are many details to consider when securing a new home: affordability, income qualification, down payment, closing costs, required documentation, and even the stress test. The good news is DC Home Mortgages is here to guide you through the entire process - from pre-approval to keys in hand.
Key Benefits
We Save You Time and Headache
We know your life is busy and dealing with the bank is rarely stress-free. Working with a mortgage broker saves you time and ensures you get the best rate.
Access to 50+ Lenders
We shop across our entire lender network to find your best rate and terms - not just one bank's options.
You Are a Person, Not a Number
Unlike bank reps, we treat you like a person - not a sales target. We build relationships and look out for your short and long-term goals.
First-Time Buyer Expertise
We walk first-time buyers through every step, including government incentives, insurance requirements, and the stress test.
How It Works
- 1
We start with a consultation to understand your purchase goals, timeline, and financial situation.
- 2
We issue a mortgage pre-approval so you know exactly what you can afford and can make confident offers.
- 3
Once your offer is accepted, we submit to the best-fit lender and manage the underwriting process.
- 4
We coordinate with your lawyer and realtor to ensure a smooth, on-time closing.
Frequently Asked Questions
What are the fees for using DC Home Mortgages?
The last thing you need when securing a property is more cost. The best part about our services is that the bank or financial institution we help select for you pays us - so you don't have to.
How do I calculate my minimum down payment?
For homes $500,000 or less: 5% of the purchase price. For homes over $500,000: 5% on the first $500,000 and 10% on the portion above that. For homes over $1,000,000: a minimum of 20% of the full purchase price. For example, a $600,000 home requires $25,000 on the first $500,000 plus $10,000 on the remaining $100,000 - a total of $35,000.
What is the stress test?
The mortgage stress test requires you to qualify at a rate higher than your actual mortgage rate - currently the greater of your contract rate plus 2%, or 5.25%. We help you understand what you qualify for and how to best position your application.
What is the difference between a mortgage broker and a bank?
A mortgage broker like DC Home Mortgages shops across many lenders to find you the best rate and terms. A bank only offers its own products. Working with a broker often results in better rates at no cost to you - brokers are compensated by the lender.
Get a Free Quote
Tell us your situation and we'll find the best option for you.