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Smiths Falls & the RideauBuying in Smiths Falls? Start here.
Smiths Falls is one of the places in the Ottawa Valley where many first-time buyers and small investors start, and I help them plan it properly. I am Brad Plummer, a mortgage broker in nearby Carleton Place. I work with buyers, homeowners renewing and people refinancing in Smiths Falls, comparing many lenders so the mortgage fits your budget.
Helping Smiths Falls buyers from Carleton Place
numbers before showings
Smiths Falls sits on the Rideau Canal, south of Carleton Place along Highway 15. I work from 157 Bridge Street in Carleton Place, with office visits by appointment. Most of my clients prefer phone or video meetings and online applications, which work the same wherever you live in Ontario.
The town has a mix of older brick homes, post war bungalows and newer subdivisions, along with duplexes and small multi unit buildings. If you are thinking about living in one unit and renting the other, the way a lender counts that rental income matters a lot, and it varies between lenders.
If you are buying your first home, a pre-approval before you start looking keeps the search realistic. It tells you what you can comfortably carry and what you will need for closing costs, not just the down payment.
Help for every stage
First home or next home
Down payment, closing costs and the right mortgage structure, explained step by step before you shop.
Renewal coming up
I compare your renewal offer with many lenders and check whether switching is worth it, with the costs in dollars.
Refinance or equity
Renovations, debt consolidation or funding a rental purchase, with any penalty worked out first.
What working together looks like.
Quick conversation
Your goals, your budget and the kind of home or rental you are looking at.
Online application
About 10 minutes, then one credit check to compare options.
Pre-approval and plan
I review your file, request a rate hold where it makes sense, and confirm what you need for closing.
Offer to keys
I deal with the lender, appraisal and your lawyer so closing day is calm.
Common Smiths Falls situations
General guidance for planning. Lender rules vary, so I confirm what applies once I see your details.
Live in one unit, rent the other
With an owner occupied duplex, many lenders count part of the expected rent toward qualifying. How much they count differs, so comparing lenders can change what you can buy.
Small down payment
With less than 20% down you will need mortgage default insurance. The premium is usually added to the mortgage, but the Ontario sales tax on it is paid at closing.
Older homes and insurance
Some older homes need updates before an insurer will cover them. A quote before your conditions expire keeps closing on track.
Smiths Falls questions
Can rental income from a duplex help me qualify?
Often yes, if you will live in one unit. Lenders use part of the expected rent, either added to your income or offset against the property costs, and the method varies. I compare how different lenders treat it for your situation.
How much do I need for a down payment in Smiths Falls?
The federal minimum is the same across Canada: 5% of the first $500,000 and 10% of any portion above that, for homes under $1.5 million. Plan separately for closing costs, which our Ontario closing costs guide breaks down.
Is it worth using a broker for a renewal?
Many people simply sign the renewal letter. Comparing it with the wider market takes me a little time and usually costs you nothing, and it shows you whether staying or switching makes more sense.
Can we meet in Smiths Falls?
My office is in Carleton Place, with visits by appointment. Nearly everything, from documents to signatures, can be done without travelling.
Helpful next reads
Kind words from clients
Ready to look in Smiths Falls?
Start with a pre-approval, or book a call to talk through your plans first.
Prefer the phone? Call 613-714-9499. Office visits by appointment.