Privacy, Conditions and Consents

To submit your pre-qualification request, please review our privacy policies and procedures, the applicable conditions and provide the required consents and click "I Agree”.

Mortgage Alliance takes pride in the policies and procedures used to protect the personal information collected and maintained on behalf of our clients. Access to personal information is granted to our agents in compliance with the various Personal Information Protection Laws.

Collection and Use of Information

To better understand your financial needs and make you aware of new services that could help you reach your goals, Mortgage Alliance collects personal information from a variety of sources. Some personal information and some reasons it is collected include, but is not limited to, are:
1. Data such as name, address, contact numbers, email contact, age, citizenship and income.
2. Information from a consumer reporting agency or other source, which may include account information and/or information about your creditworthiness. Mortgage Alliance uses this information to provide your pre-qualification.

Mortgage Alliance collects this information in order to provide the services you have requested, and to help us determine how Mortgage Alliance or other non-affiliated companies may be of service to you.

Guidelines for Disclosure of Information

  1. Mortgage Alliance may provide information to credit bureau agencies, financial institutions, insurers, private investors, creditor life company etc.
  2. Mortgage Alliance shall use the information to determine your financial situation for purposes related to services that you have requested from Mortgage Alliance. Mortgage Alliance may also provide the information to others that work for Mortgage Alliance, affiliated companies and business partners, but only as needed for the provision of those services.
  3. Mortgage Alliance may use your information to promote Mortgage Alliance products and services to you.

Mortgage Alliance will not use or disclose personal information for purposes other than those for which it was collected, except with the consent of the individual(s) or as required by law. Files are kept a minimum of three (3) years.

Ongoing Commitment

Confidentiality is the key to a strong relationship and Mortgage Alliance is committed to protecting your privacy. The privacy policy is always available on our website

Pre-qualification conditions

Please note that this Mortgage Alliance pre-qualification certificate is valid for 120 days following its issue date, and is subject to the following conditions:

  • The accuracy of the information you have provided Mortgage Alliance;
  • Maintaining the quality of your current credit report (for example, no default or late payments);
  • The lenders and insurers current underwriting policies and ratios do not change. These policies and ratios can change at any moment, specifically if the mortgage industry is imposed changes by the Canadian regulators;
  • Current premiums for mortgage loan insurers remain in effect (at CMHC, Genworth and Canada Guaranty);
  • There are no changes to the borrower’s down payment, employment/income, and/or increase in debt.
  • The qualifying rate in effect at the time of completing the form does not change (calculations are based on a 25-year amortization for a single-family home);
  • No interest rate is guaranteed, unless a separate mortgage pre-approval application is submitted and accepted by a mortgage lender. Please note that you may change the terms of your mortgage pre-approval when your Purchase & Sale Agreement is accepted;
  • The pre-qualification exercise takes into account the mortgage underwriting policies and ratios of the major lenders with which Mortgage Alliance deals with and the Canadian mortgage rules and regulations currently in effect. No interest rate is guaranteed at this stage;
  • A Mortgage Alliance pre-qualification amount is based on the applicant(s) borrowing capacity, credit information, approved credit, including credit scores and excludes any property information. The property type, its value estimate and its location could affect the lender’s decision to approve the loan requested as well as the maximum loan amount. The credit information used to provide this prequalification amount may not be the same as the information that will be used by your broker to submit a mortgage application;
  • This pre-qualification amount is intended to accelerate the initial phase of your home buying process. It simply gives you a good idea of how much you can afford when purchasing a property, it cannot be considered as a lender pre-approval and cannot be used to meet any conditions relating to a Purchase & Sale Agreement;
  • In all cases, a meeting with your Mortgage Alliance professional is required for expert advice on the most appropriate financing options available for you.

Credit Bureau Consent (without any impact on your credit score)

We the undersigned, declare the information provided is a true and complete representation. We understand that it is being used to provide the pre-qualification from Mortgage Alliance. We also authorize Mortgage Alliance to obtain credit information (without any impact on my credit score) for the purpose of providing the pre-qualification that we have requested.

Canada Anti-Spam Legislation

Mortgage Alliance and its business partners will keep in touch via electronic messaging to provide the requested services and may also occasionally communicate with you to provide insightful information on Mortgage Alliance products and services, on mortgages, finances etc as permitted by the Canada Anti-Spam Legislation. Please take note that you can unsubscribe at any time. All of our electronic communications include an unsubscribe mechanism.

****Mortgage Alliance herein represents Mortgage Alliance or Mortgage Alliance licencees which are independently owned and operated.