What’s a pre-approved mortgage?

A pre-approved mortgage guarantees your interest rate before you actually accept the loan. Pre-approval typically gives you better-negotiating power when you're ready to purchase a property as it makes you a more attractive buyer.

What’s the minimum down-payment required on a home purchase in Ottawa?

In most cases, a minimum down-payment of 5% is required; however, a higher down-payment will net you a lower monthly and may give you the opportunity to avoid CMHC mortgage fees.

Chris Allard Mortgage Team - Expert Ottawa Mortgage Brokers

With years of experience, Chris Allard and his award-winning, Ottawa-based team help local buyers with mortgage approvals, home purchases, refinances, bad credit solutions, and commercial financing.

With access to 50+ lenders — including major banks, credit unions, monoline lenders, and alternative/private options such as Scotiabank, Desjardins, MCAP, and Strive — we work to secure competitive rates and terms that fit your financial goals.

Get Approved Book a Call

Answer a few questions, and we’ll take a look at your option for a mortgage plan.

Mortgage Options for Every Financial Situation

If you're ready to invest in a new property, you need an Ottawa mortgage broker you can rely on. Recognized as one of the top 75 mortgage brokers in Canada, Chris Allard has the experience and expertise it takes to provide his clients with superior service. As a finalist at the Canadian Mortgage Awards and member of the DLC Hall of Fame, Chris has a proven track record of success in the mortgage industry. Trust in us to help you secure financing for your next real estate investment.

First-time Home
Buyers

Buying your first home in Ottawa? We’ll walk you through every step so you feel confident, not overwhelmed.

Bad Credit
Mortgages

Whether you’re upgrading, downsizing, or relocating, we’ll help you secure a residential mortgage that fits your life.

Commercial and
Multi-Residential

Thinking about buying a commercial property? We’ll help you structure financing that makes sense for your business goals.

New Construction
Mortgages

Building a new home? We’ll guide you through construction financing so your project stays on track from start to finish.

Refinancing or Renewing
Your Mortgage

Renewing or refinancing? This is your chance to renegotiate — and potentially improve your financial position.

Making an Offer on a
House Before Approval

Making an offer without Approval can be risky—here’s what you should know before you sign.

How to Get Approved for a Mortgage in Ottawa

Documents You’ll Need

Government Photo ID

Driver’s licence or passport.

Proof of Income

Recent pay stubs (2–3)
Letter of employment
Last 1–2 years of T4s and Notices of Assessment

(Self-employed: last 2 years of personal tax returns + Notices of Assessment.)

Down Payment Verification

90 days of bank statements
Investment statements (RRSP, TFSA, etc.)
Gift letter (if applicable)

Current Debts

Statements for loans, lines of credit, and credit cards

Understanding the Approval Process

Step 1

Send the Documents

Step 2

Credit + income review

Step 3

Lender matching

Step 4

Approval letter

Next Steps

Are you ready to get started? Don’t wait! Click the link below and begin your mortgage application through our secure app! Don’t let any opportunity slip away. Start the application process today.

Start Approval Approval Guide

Mortgage Solutions for Complex Financial Situations

Bad Credit & Alternative Lending

Who it’s for: Buyers with bruised credit, past collections, consumer proposals, missed payments, or recent financial setbacks.
What lenders look at: Current income stability, down payment size, overall debt load, and whether the credit issues are resolved or improving.
Common pitfalls: Applying too soon after a major credit event or focusing only on rate instead of long-term strategy.
What to do next: Let’s review your full financial picture and explore realistic options that move you forward.

Self-employed Income

Who it’s for: Business owners, contractors, freelancers, and commissioned sales professionals.
What lenders look at: Two-year income history, Notices of Assessment, business financials, and income consistency.
Common pitfalls: Writing off too much income for tax purposes without understanding how it affects borrowing power.
What to do next: We’ll review your income structure and determine the best lender fit for your situation.

Divorce Buyouts

Who it’s for: Homeowners who want to keep the matrimonial home after separation or divorce.
What lenders look at: Income qualification on your own, home value, remaining mortgage balance, and separation agreement terms.
Common pitfalls: Underestimating closing costs or overestimating the home’s appraised value.
What to do next: Let’s assess your numbers and outline clear refinancing options so you can move forward confidently.

Second Homes & Cottages

Who it’s for: Buyers looking to finance a vacation property or seasonal home.
What lenders look at: Debt ratios with two properties, down payment size (often higher), and property type/location.
Common pitfalls: Not accounting for additional carrying costs like taxes, utilities, and insurance.
What to do next: We’ll run the numbers to confirm affordability before you start shopping.

Investment Properties

Who it’s for: Buyers planning to generate rental income or expand their real estate portfolio.
What lenders look at: Down payment (typically 20%+), rental income calculations, debt servicing ratios, and experience as a landlord.
Common pitfalls: Overestimating rental income or underestimating vacancy and maintenance costs.
What to do next: Let’s structure financing that supports long-term cash flow and growth.

Declined by Traditional Banks

Who it’s for: Borrowers who’ve been turned down by banks due to credit, income structure, debt ratios, or unique property types.
What lenders look at: Equity in the property, exit strategy, income stability, and overall risk profile.
Common pitfalls: Assuming one decline means you’re out of options — or entering private lending without a clear repayment plan.
What to do next: Explore your private mortgage options and build a clear strategy to transition back to traditional financing.

Why Ottawa Home Buyers Choose the Chris Allard Mortgage Team

The Chris Allard Difference

Chris Allard is committed to exceeding expectations, and that dedication has earned him some of the most recognized awards in the mortgage industry.

In both 2025 and 2026, Chris was named Best Mortgage Broker in Ottawa in the Top Choice Awards. He has also received top honours from the Quality Business Awards and Faces Magazine, and was recognized in 2024, 2025, and 2026 by ThreeBestRated® as a leading mortgage broker in Ottawa.

Nationally, Chris has ranked in the top 1% of Canada with Mortgage Intelligence and has been named one of the Top 75 Mortgage Brokers in Canada by Canadian Mortgage Professional magazine—a reflection of his expertise, client-first approach, and consistent results.

Experience the Difference Meet the team

12 Years of Local and International Awards and Recognitions

50+ Lenders Partner with us to Give you the Best Mortgage Rates

Our services are supported by 50+ banks and other institutions. This way, we can present you with the best mortgage options.

Client Reviews and Testimonials

Modern cream coloured home with dark brown trim and accents.

“ As a first-time homebuyer, my knowledge about Mortgages was limited. Upon meeting Chris, he made sure that I was comfortable with what his roles and responsibilities were as a broker and used his extensive knowledge to answer any and all of my questions. With access to over 50 lenders, I knew that Chris would pick a mortgage that was ... ”

Hailey E.

Multi-level home with beige stucco and red front door

“ Chris is seriously passionate about delivering the utmost value to his clients. His knowledge and expertise in the industry were evident from our first meeting, and his patience and willingness to explain my options to me as a first-time home buyer made the entire process a pleasurable experience. ”

Brennan L.

Large home with expansive elegant front porch with white pillars.

“ Simply put, Chris is amazing at what he does. From finding the best rates and conditions to being extremely professional and attentive to our needs, he surpassed any expectations we had for dealing with a mortgage broker. The back and forth communication was excellent. Nothing slipped through the cracks and all of our questions were answered appropriately and quickly. ... ”

John Godbout

Modern-looking grey concrete home with white trim accents.

“ I would recommend Chris to anyone looking for a mortgage. Chris was great, we couldn't have asked for a better broker. Chris helped my fiancé and I get approved for our mortgage and found us a good rate. We just bought our first house in Orleans thanks to his help. As first-time home buyers, we had very little knowledge ... ”

Stephanie Dufour

Mixed brick and paneling home with a red door.

“ My girlfriend and I used Chris' services to find a mortgage for our first home. We both work shift work and Chris was always very accommodating to taking our calls outside of regular business hours and scheduling meetings that fit our schedule. Chris' approachable personality, along with his extensive knowledge of the industry, made understanding the process simple. I ... ”

Chris Boileau

Beige brick home with an asphalt driveway and large green lawn.

“ Chris is an amazing mortgage broker for a first-time home buyer, such as myself, although I'm sure he would be great for anybody at any stage. He took his time explaining everything, ensuring that I understood, and was cautious not to overwhelm me with too much information. He made a seemingly complicated process seem simple. I would highly recommend ... ”

Liz Campbell

Read more testimonials Leave us your Review

Mortgage FAQs

About Mortgage Brokers

− What is a mortgage?

A mortgage is a loan that's designed to finance the purchase of a residential or commercial property. The property itself acts as the collateral for your mortgage loan.

+ Why should I work with a mortgage broker?

Mortgage brokers have access to lenders throughout Ottawa, and even across Canada. Because they're not connected with a particular lender, they've got the power to find and negotiate a mortgage with the best interest rates. And best of all, mortgage brokers are paid by lenders, which means that partnering with Chris Allard Mortgage Team won't cost you a thing.

+ How to choose the best mortgage broker for buying a home in Ottawa?

(https://www.chrisallard.ca/mortgage-tips/mortgage-advice/questions-to-ask-your-mortgage-broker/)

Approval and Qualification

− How do I know how much mortgage I can qualify for?

Qualification is based on your income, debts, credit score, down payment, and current interest rates. Lenders calculate debt ratios (GDS/TDS) to determine what you can comfortably afford. A broker can run the numbers quickly and give you a realistic budget range.

+ Can a person get Approved before buying the property?

Yes — and you should. A Approval confirms your budget, locks in a rate (usually for 90–120 days), and strengthens your offer when you find a home.

+ What is the minimum credit score required?

For traditional lenders, typically 600–680+ is preferred. That said, options may still exist below that range through alternative or private lenders, depending on income and down payment.

+ What can be used for a down payment?

Savings, RRSPs (including the Home Buyers’ Plan), investments, proceeds from the sale of another property, or gifted funds from immediate family (with a signed gift letter). The funds must be traceable.

Rates and Mortgage Products

− What is the best interest rate available right now in Ottawa?

Rates change daily and depend on your credit, income, down payment, and mortgage type. The “best” rate isn’t always the lowest number. Instead, it’s the one that fits your financial goals and flexibility needs.

+ Should a person choose a fixed or variable rate?

Fixed rates offer stability and predictable payments. Variable rates can offer savings over time but fluctuate with market conditions. The right choice depends on your risk tolerance and financial plan.

+ What lowers mortgage rates?

A larger down payment, and choosing certain mortgage products (like insured mortgages) can all help secure better rates.

Costs & Fees

− What is included in closing costs in Ontario?

Typical closing costs include legal fees, land transfer tax (provincial and possibly municipal in Ottawa), title insurance, appraisal fees, and adjustments for property taxes or utilities. Budget roughly 1.5–4% of the purchase price.

+ Are there any penalty fees?

Penalties vary by lender and mortgage type. There can be penalties for breaking a mortgage early, refinancing before term maturity, or paying off more than your allowed lump-sum privilege. The most common penalty is a fixed-rate penalty, calculated as the interest rate differential (IRD) or 3 months of interest, whichever is greater.

+ Who pays mortgage broker fees?

In most standard residential transactions, the lender pays the broker’s commission. Fees may apply in private or alternative lending situations, but this is disclosed upfront.

Process & Documents

− How long will the approval/closing process take?

Approvals can be completed within 24–48 hours once documents are submitted. Full approvals typically take a few days to a couple of weeks, depending on the file complexity and lender. Closing usually happens 30–90 days after an accepted offer.

+ What documents do mortgage brokers typically request?

Government ID, proof of income (pay stubs, T4s, tax returns), Notices of Assessment, 90 days of bank statements for down payment verification, and a list of current debts.

+ Do I need to be able to meet my mortgage broker in person?

No. Most applications, document submissions, and signatures can be completed securely online. In-person meetings are optional if preferred.

Tools and Resources

Guides and Mortgage Calculators

Visit our Resources page to access helpful information about Ottawa’s mortgage market, as well as tools such as our helpful Land Transfer Tax Calculator and information about CMHC mortgage premiums. You can also schedule a consultation with a member of our team or start your mortgage application online.

Go To Resources

The Latest Updates from Our Blog

Visit our blog for regular updates about what’s happening in Ottawa’s mortgage and real estate market, tips for buying a new residential or commercial property, and recent news about the Chris Allard Mortgage Team.

Go to Blog

Ready to Plan Your Mortgage?

Whether you are buying your first home or seeking a mortgage to buy rental properties, we understand the mortgage process can be overwhelming. That is why Chris continuously seeks a personal connection with every one of his clients. He wants to understand your situation, and he will go the extra mile to find the best option tailored to your needs.

If you are uncertain about using a mortgage broker, Chris is happy to discuss your options in a no-obligation consultation. So don’t wait… give him a call today!