Straight answers to common questions.
Mortgages, brokers, rates, and how the process actually works.
What does a mortgage broker do that a bank does not?
A bank offers you its own products. A broker shops your file across many lenders — banks, credit unions, monoline, and private — to find the one that fits your scenario and prices it best. On most residential A-lender files, the lender pays the broker, so the service costs you nothing.
Does it cost me anything to use GTA Lenders?
On residential A-lender files, no — the lender pays our commission. On private and some alternative files, broker fees may apply; these are always disclosed to you in writing before any submission, per FSRA Standards of Practice.
How long does the process take?
It depends on the file. A documented pre-approval can come back in 24-48 hours. A purchase from intake to funding typically runs a few weeks. Commercial and construction files take longer. Each service page lists a realistic timeline.
Will applying hurt my credit score?
We pull credit once, and a single mortgage inquiry has a minimal, short-lived effect. Multiple mortgage inquiries within a short window are typically treated as one by the scoring models.
Can you help if a bank already declined me?
Often, yes. A decline is usually about fit, not impossibility. We look at alt-A, B-lender, and private options, and structure a path — frequently with an exit back to A-lending once the issue resolves.
What documents will I need?
It varies by mortgage type. Generally: photo ID, income proof, down payment or equity proof, and property details. Each service page lists the specific document set, and the application shows you exactly what applies as you go.
Are you licensed?
Yes. GTA Lenders is a FSRA-licensed mortgage brokerage in Thornhill, Ontario, regulated by the Financial Services Regulatory Authority of Ontario. We follow FSRA Standards of Practice and FINTRAC and PIPEDA requirements.
Do you only serve Thornhill?
We are based in Thornhill and serve clients across the Greater Toronto Area and Ontario. Most of the process can be handled remotely.