Trusted Mortgage Services in Toronto, ON

Long Term Wealth Starts Today

Snezhana Todorova Mortgage Team is your personal mortgage broker helping you build long-term wealth for a comfortable life.

"Snezhana is amazing to work with. She makes sure to dig into the minute detail of her clients & keeps them transparent with all the information. She has the attention to details, getting the work done & prioritize her clients best interest above all. She is definitely the go - to for any of our future mortgage transactions :)"

Smriti A. via Google

"Snezhana is truly a great mortgage coach. She always took time to answer our questions, help us understand our options, provide us with sage advice and get us the best rate. She is also very reliable, quick to respond and detail oriented! We really felt we could count on her, which made the home buying process so much smoother. We would highly recommend Snezhana to anyone!"

Debbie K. via Google

"Snezhana has been fabulous with coaching us throughout our home buying process. As a first time home buyer, we had a zillion questions but Snezhana was extremely patient and explained all the details to us very thoroughly. She's always reachable and works in your best interest. We'll highly recommend her to anyone who's working on a mortgage. She's simply the BEST! "

Suhani S. via Google

We will help you to put your best foot forward in the mortgage industry.

When thinking about a mortgage either as a first-time home buyer or an existing homeowner, it can be daunting to think about the mortgage process. At Snezhana Todorova Mortgage Team, we specialize in helping you learn how to leverage your mortgage debt to build long-term wealth properly.

Being an experienced mortgage broker in and around Toronto, we can help with residential mortgages, mortgages for rental property, self-employed mortgages, and mortgages for those new to Canada. Our job is not finished when we help you fund your mortgage; it is only the beginning! We will support you through your lifetime of property ownership in Toronto, the GTA, and the surrounding areas.

Let's dip our toes in the water.

What does the mortgage process look like?

Initial 20 min call

We get to know you and learn about your plans.

Fill out a Mortgage Application and Send Documents

As soon as you fill out the mortgage application and upload the required documents to our secured online portal, we can start completing the pre-work and underwriting your file

We find you the right mortgage

We will prepare a lender comparison report outlining the best mortgage for your unique needs and secure your pre-approval.

Your Mortgage is Approved!

We guide you through the digital signing process, and we work closely with all parties to ensure that it goes as smoothly as can be.

We stay by your side

Our job doesn't end when your mortgage funds; it is only the beginning! We will be with you for the lifespan of your mortgage, helping you map a comfortable mortgage plan - whether that is paying your mortgage sooner or investing in a second property.

Snezhana sitting with a client in office in Toronto

Which mortgage service can we help you with?

Mortgage Pre-Approval

The mortgage pre-approval step is one of the most important steps in buying your new home — and we can help you with every part of it!

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Mortgages for First Time Home Buyers

Are you a first-time homebuyer? We understand that navigating the mortgage industry can be daunting. As an experienced mortgage agent, we will help you navigate these waters.

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Mortgages for Rental Properties

Our mortgage specialists will help you make an informed decision about the investment property options available to you.

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Self Employed Mortgages

Are you self-employed and find it difficult to obtain competitive rates for your mortgage? We can help advise you on the options available to you.

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Mortgages for Newcomers to Canada

If you are new to residency in Canada and are looking to arrange financing to achieve your dream of homeownership, we can help!

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Renewing/Refinancing Existing Mortgage

Don't just renew your mortgage; renegotiate! We can help you get a potentially better renewal.

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Home Equity Lines of Credit

If you have built up a good amount of equity in your property, securing the financing you need may be easier. We can help you navigate this area of finance.

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Do You Have Any Questions First?

Please reach out to our team today if you have any questions about our mortgage services.

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Snezhana smiling next to orchid in office in Toronto

A personal experience for your property ownership journey.

We listen.

Your mortgage is personal to you and your life. We listen to your needs, hopes, and vision for the future to help guide you in the direction you wish to go.

We are experienced.

Being a homeowner and landlord herself, Snezhana has the experience of successfully investing in real estate. We appreciate the sense of overwhelm that can come with it.

We care.

We are in this field because we genuinely care about you and your future - we want you to feel secure and have confidence in investing in your property.

Mortgage Pre-Approval

Getting pre-approved for a mortgage is one of the most significant steps in buying your new home.

  • Your Pre-Approval determines how much you can afford to borrow
  • It helps you understand how much of a down-payment and closing costs you will need
  • Your interest rate is locked in for up to 120 days - you are protected from future rate increases
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Two people clinking their glasses together sitting next to moving boxes

Mortgages for First Time Home Buyers

As a first-time homebuyer, it can understandably be an overwhelming experience when trying to secure a mortgage. As experienced mortgage agents, we can appreciate how much of an exciting time this is for you. We also understand that this can be a complicated process. That's why we work with you every step of the way. Our services are free to you since we get paid by the Lender we choose to work with.

From our experience with first-time home buyers, we have found that people shopping for a mortgage are often unaware of some real risks associated with obtaining a mortgage. We intend to thoroughly educate you about different mortgage strategies and relevant information to protect against these risks.

Some of the questions that we can answer for you are:
  • How much can I truly afford?
  • What down payment would I need?
  • What are eligible sources of down payment?
  • Which Mortgage Product is best?
  • Do I need a Mortgage Strategy?
  • How much are closing costs?
  • What are the incentives for a First Time Home Buyer?

We will walk you patiently through your options, work through all of your questions and concerns, and provide you with all of the expertise and information you need to choose the right mortgage for you. We will be able to secure the best mortgage rate that you can qualify for.

Mortgages for Rental Properties

Because investment property mortgages are dependent on specific governmental requirements, it means that mortgages are constantly changing.

When buying an investment property, the first questions to answer are: How many units are there in the building? Will you be living in one of the units?

The majority of buildings with 1-4 units are classified as 'zoned residential.' Buildings with five or more units are classed as 'zoned commercial.' If it is 'zoned commercial,' it is required from a lender that you would take out a commercial mortgage. The qualification criteria are even tougher to meet with a commercial mortgage, and interest rates are often much higher.

If you are going to be living in one of the units, the property would be considered owner-occupied. If all units are rented out, your property would be considered non-owner occupied.

How much of a down payment do you need to make?
  • If the building has 1-2 units, and one is owner-occupied, the minimum down payment required is 5%.
  • If the building has 1-2 units, and none of them is owner-occupied, the minimum down payment required is 20%.
  • If the building has 3-4 units, and one of them is owner-occupied, the minimum down payment required is 10%.
  • If the building has 3-4 units, and none of them is owner-occupied, the minimum down payment required is 20%.

It is recommended idea to consult with an experienced mortgage broker who will help you make an informed decision about the mortgage options you have for an investment property.

Looking up to a grey apartment building with balconies
A person writing in their notebook with flowers on the table next to them

Mortgages for Self-Employed

Are you self-employed and find it difficult to obtain competitive rates for your mortgage? The first issue is that income may not be easy to prove.

It is essential that you have a good credit history and provide a minimum down payment of 10%. With stated income, lenders are also looking for the "gross income" you report on your tax returns to be consistent with what is being stated. Your net amount on line 150, after all of your business expenses, will likely be much smaller, and that is okay.

As a self-employed person with excellent credit, you can enjoy purchasing your primary residence with an "A" lender using 10% down as long as the property value is less than $1MM. If there is a significant difference between the gross reported and stated, the Lender will likely ask you for a 20% down payment or more, or you will need to bring in another partner who shows the income and good credit to help strengthen your application.

We appreciate that every client situation is different, and there will be variations to the rules.

Mortgages for Newcomers to Canada

Have you just moved to Canada as a new resident and looking to arrange financing to achieve the dream of homeownership?

There are options for New Immigrants to Canada to purchase a home sooner with as little as a 5% down payment. If you are new to Canada, we would like to help you purchase your first home, build equity, and become economically established in your new country.

The Lender will ask you for the following documentation
  • Confirmation of landed immigrant status or a valid Canadian work permit
  • Entered Canada in the last five years
  • Income confirmation – minimum of three months of full-time employment
  • Down payment confirmation - own resources

Establishing a Canadian credit history is a significant step, and applying for a credit card is an excellent way to start this process. If you're having trouble with traditional creditors, you can consider a secured credit card. Lenders do recognize that it can be challenging to establish Canadian credit initially. Because of that, they will consider credit history from alternative sources, such as a letter from your landlord showing twelve months of continuous payments made on time or some copies of your utility bills that show regular payments made over the course of at least twelve months.

If you have moved to Canada within the last five years, please book a call with us to discuss the New Immigrant Mortgage options. Getting the right advice from the start will facilitate the process while getting competitive market rates.

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A couple meeting with a consultant. Gentleman is shaking their hand.

Renewing/Refinancing Existing Mortgage

Don't just renew your mortgage, renegotiate!

Many Canadians tend to renew their mortgage with the same lender as they feel their bank's offer is the best deal available or that it is too time-consuming to look around. This isn't necessarily true — and we can help you get a better deal.

Renewing Your Mortgage with A Different Lender

We can evaluate your mortgage needs and determine whether your existing mortgage is still the best fit. We will also shop your renewal to many of Canada's leading lenders to help you find the deal you want.

If you want to lower your monthly mortgage payment, pay off high-interest credit cards, consolidate debt, or lock in a lower interest rate? Then it's time to explore the benefits of refinancing.

Refinancing is an excellent way to make your mortgage work for you. The hassle-free application process makes refinancing as smooth and stress-free as possible.

Home Equity Lines of Credit

If you have built up a good amount of equity in your property, then securing the financing you need might be easier than you initially thought.

You may choose to add a Home Equity Line of Credit (which is revolving credit), aka HELOC. This means that you are able to borrow money, pay it back, and borrow it again, up to a maximum credit limit. You could invest in your child's education, consolidate outstanding debt or even buy an investment property.

We will sit down and review all the options available to you, taking into account your financial pursuits, lifestyle, and personal preferences to help you determine the right strategy.

Snezhana working on laptop in Toronto office

"Snezhana is extremely thorough and diligent with her work . She has always been very patient in answering all my questions related to mortgage and ensuring I have all the information to make right decision. She helped with mortgage of my 1st house and my experience has been excellent . I would strongly recommend Snezhana for any mortgage related questions."

Ajit C. via Google

Your long-term wealth starts now.

Reach out to our team today to discuss your next steps.