Mortgage F.A.Q.

Q: How does a mortgage broker get paid?
A: We are paid by the banks a finder fee for each mortgage we arrange. However, we work on your behalf to secure the best mortgage rates in Canada.

Q: What is a Mortgage Broker?
A: A Mortgage Broker in Canada is a person who works on your behalf to find the best mortgage rates and product for you. More importantly Urban Mortgage broker’s services are FREE and we have access to over 54 lenders across Canada.

Q: Where is Urban Mortgage located?
A: Urban Mortgage is located in Calgary, Edmonton and Red Deer.

Q: How can I contact Urban Mortgage?
A:  You can also contact us directly through our online contact form.

Q: How long does it take to get pre-qualified?
A: It generally takes a minimum of 2 hours to obtain a pre-qualification. There is no obligation with pre-qualifications to obtain a mortgage. Full mortgage approvals can be processed within 24hrs if all documentation can be verified.

Q: Does Urban Mortgage share my information?
A: Urban Mortgage does not distribute your information without your written consent.

Q: Can I finance a rental property?
A: Yes you can at the most competitive rates in Canada.

Q: Do you lend on commercial properties?
A: Yes, we have lenders that deal with both residential mortgages and commercial mortgages.

Q: How fast is the turn around for refinancing?
A: Refinancing your mortgage in Alberta will generally take 15 days from start to end

Q: How do I become a mortgage agent in Alberta?
A: You must complete a mandatory course through the Real Estate Council of Alberta in order to get your license.

Q: Can I still refinance my home if I have been through bankruptcy?
A: Yes. So long as your bankruptcy has been discharged, we are able to refinance your mortgage.