Arranging a Mortgage

Arranging financing for your home can often be a confusing process, with many options to choose from. That’s why it’s important to talk to the experts.  You’ll find expert advice and the tools you need to make arranging a mortgage an easy and comfortable experience.

I strongly recommend using the services of a mortgage broker.  Unlike banks & credit unions, who only offer their products, a mortgage broker will match your buyer qualifications with that of the property to determine which institution will offer the best terms.  This is really important with rural real estate as there are many obscure rules that apply and can effect how properties are appraised.  

Arlene Modderman of the Mortgage Depot has arranged hundreds of mortgages on Salt Spring and will find the optimum lender for your needs.  She works on line and has both a Salt Spring and Sidney office.  She handles many applications virtually.  

For a list of Mortgage Rates:

To Apply for a mortgage with Mortgage Depot:

Shop With Confidence 

Not sure how much of a mortgage you may qualify for? Use our handy calculator to figure out how much you can really afford so that you can shop for your new home with confidence.

Get pre approved for a mortgage before you shop to ease your financial uncertainties.

Making the Mortgage Decision

You've found the perfect home. Before you buy, it’s important to make sure that you have a mortgage payment plan that works for you. Not sure which mortgage is best for you? Your answers to a few simple questions will result in a mortgage recommendation that you may discuss in depth with a Mortgage Depot Specialist.

Understanding the Right Mortgage Payment Plan for You

A Larger Down Payment Means Greater Savings. The size of a down payment can vary and generally ranges from 5% to 20% of the purchase price. When structuring your mortgage, keep this is mind to help save you money.

Mortgage Payment Calculator

Use this tool to calculate your potential mortgage payments and work out the mortgage payment plan that is right for you.

Finalizing Your Real Estate Purchase

Ensure that the home buying process comes to a successful close by taking advantage of these resources: 

-Have all the documentation you need to secure your mortgage will make the process quick and easy!

-When buying a home there are legal and administrative fees and disbursements. Knowing what to expect can help you prepare a more accurate budget and lead to a more comfortable home-buying experience.  A mortgage broker will guide you through this process.

Arlene Modderman may be reached through her Salt Spring number at 

250-537-4090, or Toll Free at 866-656-0858 or

Jan Macpherson
Jan Macpherson
#104, 150 Fulford Ganges Road Salt Spring Island BC V8K 2T8