How To Buy A House in Ottawa Capital Mortgages Ottawa

How To Buy A House in Ottawa

How To Buy A House in Ottawa: The Comprehensive Guide

Whether you’re starting a family, your career is taking off, or you just want to get out of the rental market, buying a house is a major step. There are many things to consider: how much can you afford? What kind of house are you looking for? How do you know if it’s the right time to buy?

Before we get into the nitty gritty, let’s answer some basic questions about buying a home in Ottawa. From understanding the mortgage process and making an offer on a house to getting pre-approved for a mortgage and everything in between, this guide is here to help!

Buying A House In Ottawa: The Basics

Before you start looking, it’s important to understand the basics.

  • Do I need a mortgage pre-approval?
  • What’s the difference between a fixed and variable mortgage?
  • What are my other housing options?

These are just some of the questions that we answer in this article. Read on for all the details!

Getting Pre-Approved For A Mortgage

If you’re a first-time home buyer, getting pre-approved for a mortgage is a good way to feel more confident about your purchase. Pre-approval means that you have gone through the process of getting approved for a mortgage from one or more lenders and have been given an estimated value of how much money you can spend on a house.

Benefits of pre-approval:

  • You are able to make an offer on a house with confidence
  • You are able to compare listings, knowing how much you can borrow
  • It may take less time to get approved as you already have most of the information they will need
  • You will know what allowance your bank has set aside for you

How do I find out if I’m pre-approved?

Your potential lender should be able to tell you whether or not you’ve been pre-approved for a mortgage as soon as you submit all of your documentation. Keep in mind that some lenders may require that your current income, assets and liabilities are still accurate at the time of application. If this is the case, make sure to update them before sending any documents in.

Home Inspection

A home inspection is a professional, independent examination of the house you’re considering buying. It will help you find any faults in the property, including hazardous materials and structural problems. You’ll also need to hire a home inspector if the seller won’t let you into the house or if you want to make sure that it’s been well maintained over the years.

What’s Next?

So, you’ve read this guide and you’re at the point where you’re ready to take your first step. If you want help with every aspect of buying a home in Ottawa, give us a call! We’ll make sure that your needs are met and get you into an Ottawa home that’s perfect for you.


Buying a house can be a daunting task and one that should not be taken lightly. After reading this article, you should have a better understanding of the process and a few of the considerations that need to be made when buying in the Ottawa region. There are many factors to consider, but armed with the right information, you will be confident in your purchase.

A comprehensive guide to buying a house in Ottawa.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs and approvals. Contact us today by calling us at: 613-228-3888 or email us direct at:

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Ottawa Ontario: Best Mortgage Brokers

Ottawa Housing Market

Tips for Local Buyers and Sellers.

The Ottawa housing market can be a difficult one to navigate. With a mix of different types of economies and a range in house prices, it’s important to know what you’re getting into. It can be easy for buyers to rush into a purchase without considering the consequences. Likewise, sellers need to make sure that they don’t overprice their home in order to sell quickly.

If you’re looking for tips on how to navigate this market, keep reading. Here are some strategies for both buyers and sellers so that they can get the best deal possible!

What is the Ottawa housing market like?

The Ottawa housing market is influenced by foreign investment, low interest rates, and a strong job market.

The housing market in Ottawa is currently experiencing a “soft landing”. This means that prices are still high but not at their peak value. There’s still an opportunity for buyers who want to purchase a home now.

Another factor that makes the Ottawa housing market unique is that it has one of the highest concentrations of millennials in Canada. With this demographic being so influential, it’s important to take their needs into account when selling your home.

Tips for buying a home in Ottawa

The first thing to do, before you even start searching for a new home, is consider your budget. This sounds obvious but it can be easy to get carried away in the excitement of buying a home and forget about the financial realities.

Next, when looking at homes, you need to know what you’re doing. It’s important that you have the right information in order to make an informed decision. You should have a solid knowledge of how much money can be borrowed from a lender in Ottawa and where in the city you might find good schools, daycares and public transportation options.

You also want to think about your commute. If you work in downtown Ottawa, for example, it’s going to take a long time if you live in rural areas with poor public transit options.

It’s also worth considering whether or not you want/need a yard for children or pets – this will impact the type of house that makes sense for you from an investment perspective as well as from a lifestyle perspective.

Tips for selling your home in Ottawa.

If you’re a seller, it’s important to remember that the Ottawa housing market is a competitive one. With a lot of buyers on the market, sometimes sellers can fall into the trap of pricing their home too high in order to sell quickly. That’s a good way to end up with lost profits!

In order to ensure that your home sells for as much as it can, don’t price it too high or too low. The median price for homes in Ottawa is $408,000 and the average days on market is 101. This means that homes priced between $400,000 and $420,000 typically sell within 100 days. If you overprice your home by more than 10 percent, you could end up waiting months or even years before it sells.

So what should you do? Start by using recent comparables to estimate how much your home should be worth and then price accordingly. It’s also important to take into account any renovations or other upgrades that you’ve made to the home – those will help increase its value!

It’s also worth noting that homes closer to major transit lines or highways tend to sell faster than those further away from such amenities. So if you live close to such an amenity (or

Using a Mortgage Broker

A mortgage broker is a professional who can help you find the right mortgage. They’re experts in the industry and will know what kind of mortgage to recommend based on your needs, as well as whether it’s a good idea to use a variable or fixed-rate mortgage.

Mortgage brokers are paid by the bank they work for, which means they have an incentive to recommend a product from that bank. This is unlike realtors who are paid by your buyers and sellers commission, meaning they don’t have any incentive to recommend one product over another.

When you’re looking at lenders, it’s important that you compare their rates with those of other banks – not just the one that is paying your broker. You might be able to find a better deal with another lender!

We here at Capital Mortgages look forward to assisting you with commercial Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at:

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Tips for Buying a Home with a Mortgage Broker

What a Mortgage Broker Does

What a Mortgage Broker Does: Tips for Buying a Home

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

What a mortgage broker does

The role of a mortgage broker is to find and guide you to the mortgage loan that best suits your needs and goals.

The main function of a mortgage broker is to market a variety of mortgage products, including fixed-rate mortgages, variable-rate mortgages, and home equity lines of credit. The mortgage broker is an independent individual who acts as the middleman between you and your lender.

You can choose to pay someone to help you find the best mortgage and real estate agent for you or you can do it yourself. The difference in cost is about $20 – $30 for every service. However, there is also a cost associated with navigating your mortgage. For example, you might not be familiar with all the terms and may need help understanding certain nuances.

Mortgage brokers work with many lenders

By working directly with many lenders in your specific field, your mortgage broker has a better chance of getting you the lowest mortgage rate and avoiding unnecessary fees.

Their greatest benefit: A higher approval rate

In Canada, 97 per cent of Canadians are approved for mortgage loans. The conventional industry average is 84 per cent.

Think of the mortgage broker as your personal ambassador to your lender.

They understand your finances and will negotiate on your behalf.

Here are the top factors your mortgage broker should take into consideration before giving you a quote:

  • Lender portfolio
  • Your credit score
  • Payment history
  • Income
  • Debt to income
  • Pensions and savings
  • Home value

A broker will explain your options

A good broker will not only explain the choices you have but also ask you questions, both to inform you of the best option and to get to know you better. A good broker will listen to your concerns, and needs, and tell you where you’re wrong. It is important that you feel comfortable with your broker, so make sure you ask him or her questions that you may not otherwise bring up with a vendor.

Choose the right mortgage broker

There are a number of factors to consider when looking for the right mortgage broker. For example, the time of the year when you need a mortgage can affect how quickly they can get you the paperwork done, so a summer month will give you more time for when you’ll need the funds.

Choose the right mortgage for you

As your mortgage broker, we are able to help you navigate the mortgage lending process to help you get the most for your money. Our expert team of mortgage brokers are trained to meet your needs and guide you through all aspects of the home buying process, so you can quickly and easily buy your dream home or business, purchase or refinance your mortgage and be on your way to home ownership.

Life is all about choice – When it comes to mortgages, you have the freedom to choose a mortgage that fits your current financial situation. We can help you find the mortgage that best suits your needs. Our mortgage brokers are here to guide you through the entire process – from meeting with lenders to finalizing the purchase or refinance your mortgage.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at:

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Ottawa Real Estate and Capital Mortgages. Best Ottawa Broker

Ottawa Real Estate

Ottawa Real Estate: Best Ottawa Houses and Condos to Buy

You want a mortgage broker to help you understand the ins and outs of purchase financing — whether it’s your first home or you are a repeat buyer.

Understanding the Ottawa Real Estate Market

Remember how I said it was a good idea to find a mortgage broker in your area? You need to find someone you can trust, who has the experience to find you the perfect mortgage and can talk your way out of a tricky situation. We recommend Capital Mortgages as a very trustworthy broker in Ottawa and you can find them on this website. Getting Approved for a Mortgage. You want to find a lender you can trust and feel comfortable talking to. When you first become a homeowner, you want to be your own independent lender. It’s your money!

How Do I Buy a Home?

Step 1: Find a House to Buy. The first step to buying your first home is to find a house to buy. Ensure it is within the budget you think you can afford.

The Process of Buying a House

The mortgage process starts with your loan application. If you are buying your first home, it’s typically a short, simple application, and with many lenders, your application is completed online and submitted by mail. With less than two weeks to go before closing, you’ll meet with your mortgage lender, or “servicer,” in person and sign the loan papers. The Mortgage Debt After you’ve signed the loan papers, you’ll be able to close on your mortgage loan, including the last few moving expenses and stamp duty you paid for the home, over the phone. You’ll be required to provide any additional paper work and pay the administration fees.

Tips for First-time Buyers

When to buy your first home? Buying your first home is a special event that has lots of considerations and should be handled in an organized way. As a first-time buyer, you have a lot of big decisions to make, and don’t want to make the wrong ones.

When to sell your first home? If you are getting ready to sell your home, you have a few more considerations to deal with. Before putting it on the market, make sure the place is in good condition and ready to go. A few fixes can help make sure you get the best price for the home you have worked hard to own.

Checklist for First-time Home Buyers. There are some important questions to consider before you start your first home search. We’ve asked four of our real estate experts to give us their advice for a good checklist.

Buying a Condo

Finding the best condo condos in Ottawa is a difficult task. It’s complex and you need an understanding of a variety of factors, including property taxes, unit fees and condo board meetings. Here’s how it breaks down: Condos priced below $300,000 are few and far between in the City of Ottawa and may need to be bought in a house or apartment complex or purchased in a multi-unit development, like an apartment or a townhouse. These houses or apartments are often near train stations, making access and commuting to work easy. Depending on your budget, there are many options.

A Mortgage Broker’s Role in Real Estate

Like a good parent, your mortgage broker will be your guide and your teacher. He/she will help you take advantage of the many benefits of having a mortgage. These benefits include: The income-earning potential of your mortgage. Freedom from monthly house-related expenses. Potential for growth in capital gain potential the power to customize your mortgage terms. How Much You’ll Pay in Mortgage Interest. Most experts agree that the mortgage interest rate is the most important factor in calculating your borrowing cost. The annual percentage rate (APR) is the amount you will pay annually on your mortgage payment. However, it’s important to note that there are several ways to calculate how much interest you will pay on your mortgage.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at:

You can use these links to APPLY NOW or CONTACT US.

You can also click here.


Ottawa Mortgage Specialists: Capital Mortgages

Fun Facts About Ottawa

Ottawa is the capital of Canada

Firstly, Ottawa was the capital city of Canada from 1844 to 1857. It became the national capital in 1867, after having been the capital city of Upper Canada from 1841 to 1843. Ottawa has the largest science museum in North America. The Canadian Science and Technology Museum opened in 2015 and has twice the exhibition space of its nearest competitor.

It’s home to over 2,000 unique objects. 4th largest French-speaking city in the world More than 240,000 people in Ottawa are French-speaking. It’s the fourth largest French-speaking city in the world. The region has over 150,000 people who speak French, which is the most in the country.

The Rideau Canal connects to Ottawa

Secondly, the canal is used in winter for a whole variety of winter sports. Aquatots is a unique music and skydiving company with an Ottawa connection. The Royal Military College of Canada is where Canadian Forces officers come to learn their trades.

The museum of natural history was founded by George Howard in 1830. It’s a museum of natural history & paleontology. The Ottawa Art Gallery is one of the world’s largest in area and holds a superb collection of Canadian Art. Tim Hortons originated as a small restaurant that sprang up to serve soldiers at a local military base. The Ottawa Valley region has several lakes including the Rideau Lakes, Ottawa River and the Ottawa River itself. The City of Ottawa is the capital of Canada and its largest city.

The old city hall was built in 1865

Thirdly, the first reference to Ottawa’s Old City Hall appears in an 1863 draft of the Ottawa Plan of Growth. According to this plan, the area known as Bytown was one of three districts to be laid out in the future capital city of the province of Ontario.

Bytown, at the time a mixture of large farm fields, small woodlands and prairie, was within walking distance of the river and was part of a “park and lake” surrounding Ottawa. In the early 19th century, Bytown was home to a village with a population of around 200. By 1835, the population was around 2000. By 1848, Ottawa became the capital of Ontario and was incorporated as a city in 1855.

Canada’s Parliament Hill is in Ottawa

In 2019, the Canadian Parliament will be undergoing some renovations that will last until 2021. Despite the project’s completion date, the Peace Tower will remain an official tourist attraction and accessible to the public. If you’d like to spend some time there, you can visit any time.

The Moncton Cathedral is the only cathedral in Canada Canada’s only cathedral, The Cathedral of the Immaculate Conception of Our Lady of the Angels, is situated in Moncton, New Brunswick. The cathedral was founded in 1930 by the Congregation of the Holy Redeemer.

The church follows the Roman Catholic Church. Ottawa’s military is the largest in the world The Canadian Armed Forces (CAF) has 25,000 troops with over 300,000 reservists.

There are many famous museums in Ottawa

The Rideau Canal is home to one of Canada’s most beautiful and well-preserved old-world canals. When we’re not sailing on the river, we can visit this historic canal to stroll around or jump aboard a paddlewheeler.

There are over 140 attractions located along the canal Located along the waterfront of the Ottawa River are National Capital Commission (NCC) properties, including Parliament Hill, the NCC’s headquarters, as well as many of Ottawa’s prime tourist attractions.

If you’re looking to go for an overnight stay, Ottawa’s hotels offer fantastic rates. Book an evening stay at the hotel just a few blocks from the airport and enjoy low nightly rates, some include breakfast!

Canada Day is celebrated in Ottawa

The capital of Canada is celebrating our national birthday this year with our biggest fireworks display yet. Come check out the city’s biggest and brightest fireworks celebration this year on July 1.

In conclusion, although Ottawa is a small city, there is plenty to do, see and do it all! There are so many options when it comes to meeting people.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at:

You can use these links to APPLY NOW or CONTACT US.

You can also click here.