RIHANA PEIMAN
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Helping You Secure Your Financial Future —
• Investment • Insurance • Mortgage Solutions
RESIDENTIAL MORTGAGES
Residential mortgages are loans provided by banks, credit unions, and other lenders to help individuals and families purchase or refinance a home. These loans are secured against the property and play an important role in homeownership and long-term financial planning.
Why Work With a Mortgage Broker?
✔ Access to a wide network of lenders and mortgage products—not just one bank
✔ Assistance securing competitive rates and flexible mortgage solutions
✔ Personalized guidance tailored to your financial goals and credit profile
✔ A simplified application process with professional support every step of the way
As an independent mortgage consultant, I work in your best interest to help save you time, stress, and money while finding a mortgage solution that fits your needs.
Types of Mortgages
🔁 Variable-Rate Mortgages
Variable-rate mortgages are tied to a lender’s prime lending rate. As interest rates fluctuate—often in response to Bank of Canada decisions—your mortgage rate may change over time.
Benefits of a Variable Rate
✔ Historically lower long-term interest costs compared to fixed rates in certain market conditions
✔ Greater flexibility for borrowers who may sell, refinance, or restructure their mortgage before the end of the term
✔ Lower mortgage break penalties compared to many fixed-rate mortgages
✔ Opportunity to benefit from declining interest rates
Considerations
⚖️ Monthly payments or interest costs may increase if interest rates rise
⚖️ Some variable-rate mortgages offer fixed payments, where the payment remains the same but the portion applied to interest versus principal may fluctuate
🔒 Fixed-Rate Mortgages
A fixed-rate mortgage provides an interest rate that remains unchanged for the duration of the mortgage term—typically ranging from 1 to 5 years.
Benefits of a Fixed Rate
✔ Stable and predictable mortgage payments
✔ Protection against rising interest rates
✔ Easier budgeting and long-term financial planning
✔ Peace of mind for borrowers who prefer payment stability
Considerations
⚖️ Fixed-rate mortgages may carry higher penalties if the mortgage is broken before the end of the term
⚖️ Initial interest rates may sometimes be higher than variable-rate options
⚖️ Less flexibility in benefiting from future interest rate decreases
PURCHASE
Purchasing a home is one of the most significant financial decisions you will make. A residential mortgage allows you to finance the purchase or refinance of a property through a lender, helping make homeownership more accessible. Whether you are buying your first home or planning your next move, understanding the mortgage process can help you make confident and informed decisions while saving time and reducing unnecessary stress.
REFINANCE
Mortgage refinancing allows homeowners to replace their current mortgage with a new financing solution tailored to their evolving financial needs. Homeowners may choose to refinance to access more competitive interest rates, improve mortgage terms, consolidate debt, or unlock the equity built within their property.
When used strategically, refinancing can help improve cash flow, support major financial goals, and provide greater flexibility as your financial situation and market conditions change.
RENEWAL
Mortgage renewal provides homeowners with the opportunity to review and update their mortgage terms at the end of their current mortgage term. Unlike refinancing, which replaces the mortgage entirely, a renewal allows you to maintain your existing mortgage balance while renegotiating your interest rate, term, and mortgage features.
Renewal time is an important opportunity to reassess your financial goals, compare available mortgage options, and potentially secure more competitive rates or improved mortgage flexibility—either with your current lender or through a new lender better suited to your needs.
💡 Mortgage Insight: Fixed or Variable Rate?
Choosing the Right Mortgage Strategy Matters:
There is no universal mortgage solution. The right option depends on your financial goals, comfort with market fluctuations, and the interest rate environment at the time of application.
Working with a qualified mortgage and financial advisor can help you navigate your options with confidence and choose a mortgage solution aligned with your long-term financial plans.
📌 Let’s find the mortgage strategy that best fits your needs.
FIRST-TIME HOME BUYER INCENTIVE
The First-Time Home Buyer Incentive (FTHBI) is a Government of Canada program designed to help eligible first-time homebuyers improve affordability and reduce monthly mortgage costs. Administered through the Canada Mortgage and Housing Corporation (CMHC), the program provides a shared equity mortgage that contributes a portion of the home’s purchase price.
Qualified buyers may be eligible to receive:
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5% toward the purchase of a resale home
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5% or 10% toward the purchase of a newly constructed home
By lowering the amount required to finance through a traditional mortgage, the program may help first-time homebuyers access homeownership with greater financial flexibility and reduced monthly carrying costs.
Purchasing your first home is one of life’s most important financial milestones. First-time home buyer mortgage solutions are designed to help eligible buyers access homeownership with greater affordability, flexibility, and financial support.
Qualified buyers may benefit from access to government incentives, specialized mortgage programs, and financing solutions designed to help reduce barriers such as higher upfront costs or limited credit history.
With the right mortgage strategy and professional guidance, first-time homebuyers can navigate the home-buying process with greater confidence and long-term financial stability—whether purchasing a condo, townhouse, or detached home.
FIRST-TIME HOME BUYER
SPOUSAL BUYOUT MORTGAGE
A spousal buyout mortgage is designed to help individuals maintain ownership of a shared property following a divorce or legal separation. Through refinancing, one spouse may access the home’s available equity to buy out the other party’s ownership interest while assuming responsibility for the mortgage moving forward.
This mortgage solution is commonly used in family law settlements and can help simplify the financial transition by allowing one individual to remain in the home while supporting the equitable division of assets.
Navigating mortgage financing during separation can be complex. Professional guidance can help ensure the mortgage structure aligns with both financial needs and legal settlement requirements.
TOTAL NETWORTH PROGRAM
The Total Net Worth Mortgage Program is a specialized financing solution designed for high-net-worth individuals whose overall asset position may be stronger than their traditional income documentation reflects. Rather than focusing solely on employment income, this program considers a client’s broader financial picture—including investments, savings, and real estate assets—to support mortgage qualification.
This solution may benefit self-employed professionals, retirees, incorporated business owners, and individuals with complex financial portfolios seeking greater flexibility in mortgage financing.
When structured appropriately, a Total Net Worth Mortgage can provide strategic access to homeownership, refinancing, or real estate investment opportunities while aligning with a client’s long-term financial goals.
SELF-EMPLOYED
NEWCOMERS TO CANADA
Self-employed mortgage solutions are designed to support entrepreneurs, business owners, freelancers, and independent professionals whose income structure may differ from traditional salaried employment. While self-employed individuals often have strong earning potential, qualifying for a mortgage can sometimes be more complex due to variable income, business deductions, or non-traditional documentation.
These mortgage programs provide more flexible qualification options by considering alternative methods of income verification, including business financials, stated income programs, and bank statement history, depending on the lender’s guidelines.
With the right mortgage strategy and professional guidance, self-employed borrowers can access financing solutions tailored to their unique financial profile and long-term goals.
New to Canada mortgage programs are designed to support newcomers and recent immigrants on their path toward homeownership in Canada. Since many newcomers may not yet have an established Canadian credit history or traditional employment documentation, these mortgage solutions offer more flexible qualification options tailored to their unique circumstances.
Depending on eligibility and lender guidelines, borrowers may qualify using alternative credit references, flexible income verification methods, and low down payment programs designed to help make homeownership more accessible.
With the right mortgage guidance and financing strategy, newcomers can begin building equity, financial stability, and long-term roots in Canada with greater confidence.
HYBRID MORTGAGE
A hybrid mortgage, sometimes referred to as a combination mortgage, blends both fixed-rate and variable-rate components into a single mortgage solution. This approach allows borrowers to combine the predictability of fixed payments with the potential advantages of variable-rate pricing.
By diversifying how the mortgage is structured, hybrid mortgages can help provide greater flexibility while reducing exposure to interest rate volatility. Borrowers who value both stability and the opportunity to benefit from changing market conditions may find this option appealing.
Choosing the right mortgage structure depends on your financial goals, risk tolerance, and long-term plans. Professional mortgage guidance can help determine whether a hybrid mortgage strategy is appropriate for your needs.
SECOND MORTGAGE
A second mortgage allows homeowners to access the equity built within their property while maintaining their existing first mortgage. Secured against the home, this financing solution can provide additional funds for important financial goals such as renovations, debt consolidation, investment opportunities, or other major expenses.
For homeowners with sufficient equity, a second mortgage may offer a flexible way to leverage the value of their property without selling their home.
Choosing the right financing structure depends on your financial objectives, repayment strategy, and long-term plans. Professional mortgage guidance can help determine whether a second mortgage solution aligns with your needs.
PRIVATE MORTGAGE
Private mortgages provide alternative financing solutions for borrowers whose financial circumstances may not fit traditional bank lending guidelines. Offered through private lenders or mortgage investment corporations, these mortgage solutions can help support clients facing challenges such as non-traditional income, credit concerns, urgent financing timelines, or complex financial structures.
Private mortgage financing is often used for short-term needs such as bridge financing, debt consolidation, accessing home equity, property improvements, or investment opportunities.
Unlike traditional lenders, private lenders place greater emphasis on the property’s equity position and the borrower’s overall exit strategy—meaning the plan for repayment, refinancing, or transitioning into conventional financing at the end of the mortgage term.
When structured appropriately, private mortgages can provide flexible and timely financing solutions tailored to a borrower’s unique needs and circumstances.
OPEN MORTGAGE
An open mortgage provides borrowers with maximum flexibility by allowing the mortgage to be paid off in full—or substantially reduced—at any time without prepayment penalties. This mortgage solution may be well suited for homeowners who expect access to additional funds in the near future or anticipate selling their property before the end of the mortgage term.
Borrowers may choose an open mortgage when expecting bonuses, investment proceeds, inheritances, or other financial events that could support early repayment.
Due to the increased flexibility offered, open mortgages generally carry higher interest rates than closed mortgage options. Choosing the right mortgage structure depends on your financial plans, repayment goals, and expected timeline.
PURCHASE PLUS IMPROVEMENT MORTGAGE
A Purchase Plus Improvements mortgage allows homebuyers to combine the cost of purchasing a property with eligible renovation or upgrade expenses under one mortgage solution. This financing option can help buyers transform a property into a home better suited to their needs while avoiding the need for separate financing after closing.
Depending on lender requirements, eligible improvements may include renovations, repairs, modernization projects, or energy-efficient upgrades designed to enhance the property’s value and functionality.
This solution may be particularly attractive for buyers interested in purchasing homes with renovation potential while benefiting from the convenience of a single mortgage structure and payment.
HOME EQUITY LINE OF CREDIT (HELOC)
A Home Equity Line of Credit (HELOC) is a flexible borrowing solution that allows homeowners to access the equity built within their property through a revolving line of credit. Similar to a credit facility, funds can be borrowed, repaid, and reused as needed—up to an approved limit.
Since the line of credit is secured against the home, HELOCs often provide more competitive interest rates than many unsecured financing options. Borrowers typically pay interest only on the portion of funds being utilized.
A HELOC may be used for a variety of financial objectives, including renovations, debt consolidation, investment opportunities, education costs, or managing unexpected expenses while maintaining financial flexibility.
A reverse mortgage is a financing solution designed to help Canadian homeowners aged 55 and older access the equity built within their home without the need to sell their property or make regular mortgage payments.
Through a reverse mortgage, eligible homeowners may receive tax-free funds secured against their primary residence while continuing to maintain ownership and remain in the home. Repayment is generally deferred until the property is sold, the homeowner permanently moves out, or the estate is settled.
Reverse mortgages may provide additional financial flexibility during retirement and can be used to supplement income, support lifestyle goals, cover unexpected expenses, or help manage cash flow while preserving homeownership.
Product eligibility and lending guidelines vary depending on the lender, borrower qualifications, and property details.
REVERSE MORTGAGE
MORTGAGE DISABILITY INSURANCE
Mortgage disability insurance provides financial protection by helping cover mortgage payments if a homeowner becomes unable to work due to a qualifying illness or injury. This coverage is designed to help maintain financial stability during periods of reduced income caused by disability.
By helping ensure mortgage obligations continue to be met, mortgage disability insurance can provide valuable peace of mind while allowing individuals and families to focus on recovery rather than financial pressure.
Choosing the right protection strategy depends on your financial situation, existing coverage, and long-term goals. Professional guidance can help determine whether mortgage disability insurance is appropriate for your needs.
MORTGAGE PROTECTION
INSURANCE
Mortgage protection insurance helps provide financial security by covering all or a portion of the outstanding mortgage balance if the insured borrower passes away during the mortgage term. This coverage is designed to help protect surviving family members from the financial burden of ongoing mortgage obligations while allowing them to remain in the home.
Mortgage protection coverage is often offered through lenders during the mortgage process; however, alternative solutions such as term life insurance may provide greater flexibility, customizable coverage amounts, and broader long-term financial protection depending on the client’s needs and objectives.
Choosing the right protection strategy depends on factors such as your financial goals, family situation, health profile, and overall insurance needs. Professional guidance can help determine the most suitable solution for your circumstances.