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 Your mortgage is valuable! Your business is valuable! It is time to start being treated that way. Whether you don’t like what you are being told at your bank or you just feel as though a second opinion on your debt could save you some money you have come to the right place.
We will negotiate with your existing lender and in some cases find you a new lender that will treat your mortgage with attention it deserves. By using Non-Balance sheet lenders we are able to align your interests with the interests of those who are investing in your mortgage. It is time to start realizing your value. Have a look at some of the information available to you on our site. We hope that you find it informative. If you would like to speak to someone send us a note or give us a call, there should be someone working, regardless of the time.
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 Expenses can spring up anywhere and everywhere, and when you least expect them. Unsecured debts can get out of control and before you know it you may be looking for a second mortgage. We realize that life is unpredictable. We also understand that your current mortgage lender may be steering you to borrowing more money through higher interest rate unsecured loans. It is time to have someone advise you on what is best for you!
At MorCan Direct we work with lenders from across Canada. Our lenders provide first mortgages, second mortgages, third mortgages and in some cases even short term unsecured debt. By working with you to understand your requirements and repayment plans we can steer you in the right direction. Whether you are looking to consolidate your debts or for a second opinion on what you are being offered elsewhere we are confident that our common sense approach to lending will provide you with peace of mind when making your decision.
If you are looking to repay some of your higher interest rate debts or take equity from your home contact one of our representatives for a detailed look at what is possible. By using our sophisticated debt consolidation calculators and our network of lenders we will be able to source the best solution for you.
Our access to low interest rate capital combined with our incredible product knowledge is just what you need. |
 High interest rates and penalties can really make you feel trapped!
Mortgages are meant to be broken; breaking them is what releases all the savings. We have been breaking mortgages for years and have no doubt that we can break your mortgage more cheaply and efficiently that any firm you are currently speaking too. Many people feel that speaking really nicely to their Bank will lower their mortgage penalty or reduce the interest rate on their existing mortgage. Although you may see a slight reduction in your interest rate these negotiations never benefit the consumer. Banks are designed to make money for themselves first and keep you happy second. Working with a good Mortgage Broker will show you the pitfalls to avoid when trying to break your mortgage. Knowing your Banks bottom line when negotiating is extremely valuable, and that is what we are here for.
The calculator below can calculate the penalty to break your current mortgage and the savings associated with paying that penalty and switching to a new mortgage.
The results can be a bit confusing so if you want to speak to someone just use the live chat feature on our site of give us a call. |
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 When you find yourself in a high interest rate fixed mortgage the task of lowering your interest rate can seem daunting. Banks will try to prevent you from paying out these juicy high interest rate mortgages. One significant barrier to exit your mortgage is INTEREST RATE DIFFERENTIAL or IRD.
IRD is a penalty that allows your disgruntled lender to charge you the interest they will loose on your mortgage when you pay it out for a lower rate elsewhere.
Working with a Mortgage Broker will provide you with access to some tricks to reduce these penalties and keep your mortgage lender in check when they are calculating penalties. On average we are able to save our clients 17% of their quoted penalty.
Banks do not have your best interest in mind when they calculate your mortgage rate or penalty to break that mortgage. Banks are profit centers that profit only by making a spread on the difference between the rate of interest that they pay you for your deposits and the rate of interest they charge you to borrow money. The more money you have on deposit with Bank, the more valuable you are as a client, and therefore the better the interest rate you are offered on your debts. With a Mortgage Broker every client has access to those great rates.
The calculator below can calculate the penalty to break your current mortgage and the savings associated with paying that penalty and switching to a new mortgage. CALCULATOR COMING SOON!
The results can be a bit confusing so if you want to speak to someone just use the live chat feature on our site of give us a call. |
 There are certain things that are more important than others when you’re applying for a mortgage. For instance, the Raptors finally getting a team around Chris Bosh; sure it’s important but it won’t help you secure the perfect mortgage package. What will? A strong credit score of course!
Most people tend to overlook their credit score when assessing their financial situation. However, you can obtain a copy of your credit report at any time. The request by the consumer is noted in the credit report but it does not by any means affect your credit score. You’ll even be granted an explanation of your score and shown how lenders view your credit history. You can make multiple inquiries per year without it affecting your credit score. Your credit report is the number one indicator of your capacity to repay debt.
What is considered a good credit score? Well, most lenders require a score in the 620 or above range. At Morcan Direct we can also find mortgages for clients who have lower scores.
Great, you’re thinking to yourself, but I’d like to understand my credit score too. Here’s a short breakdown of what each score represents.
• 740 and above; you have excellent credit so you’ll get the absolute best rates available.
• 680-740; you’re credit score is very good so you’ll also get the absolute best rates available.
• 630-680; good credit score which will, most of the time, get you the best rates.
• 580-630; your credit score is okay but you’ll have a hard time getting the best rates.
• 580 and below; this is a poor credit score and you will not get the best rates.
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 Travis Allinott is a second generation banker who began his financial career with the Bank of Montreal in 1988. During his tenure with BMO, Travis quickly found he excelled in Mutual Fund sales, Relationship Sales Management, Private Client Services and Credit Underwriting. He also rose to the ranks as both a branch manager and business development manager.
After 13 trailblazing years with BMO, Travis decided to make a change and joined the ranks of TD Canada Trust. It was here that he honed his skills as manager of residential mortgages. After six strong years at TD, Travis made the bold move of becoming an independent mortgage agent. He quickly earned a reputation of being a straight shooter and clients found that his experience, honesty and hard work separated him from his contemporaries in the mortgage industry.
In mid-2010, Travis decided to take on a new challenge and joined Team MorCan. Quickly proving himself as an important piece in the company's rise, he was entrusted with the task of helping to launch and run MorCan's new office in Vaughan.
When Travis isn't making friends, making deals and pleasing his clients, he is a goalie coach from his daughter's hockey team. And when he is not at the office, at the rink or cheering on his beloved, yet hapless, Toronto Maple Leafs, Travis plays the role of loyal husband to his wife of 11 years and is a loving and attentive father to his children. |
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After graduating from the University of Waterloo, Joe Taibi began his career working for one of Canada's largest banks. During his tenure there, he set records in sales and moved up the corporate ladder at an unprecedented pace and proved himself to be a true prodigy in the field of finance.
Becoming somewhat disenchanted working for a large corporate machine, Joe decided to take the Canadian mortgage industry into his own hands. Building upon all that he had learned at the bank - as well as his naturally strong sales and management skills - Joe founded MorCan Financial in the summer of 1997.
Since then, MorCan has grown by leaps and bounds, amassing over 40,000 happy clients and helping to fun over $5-billion in mortgages. With a dozen branches and over 80 licensed mortgage professionals, MorCan continues to be one of the top and most trusted mortgage companies in Canada.
When not managing, recruiting or training, Joe can be found golfing, playing hockey or spending time with one of his three children. |
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 Phil Edwards graduated from the University of Guelph Humber with a double major in Marketing and Finance. Phil had already been honing his skills in the real estate and mortgage industry for two years before joining MorCan Direct in 2008. Since then, he has been an integral cog in the growing company and has regularly served as Marcus Tzaferis' right hand man in creating and maintaining close relationships with clients.
Phil is an approachable, well-liked member of Team MorCan and it is through his sheer determination in getting the best rate that MorCan sees a high rate of return clients.
Although most only see Phil's industrious side, it is his passion and experience on the basketball court that have taught him the true essence of being a team player. Having played basketball at a competitive level in university, Phil's focus, energy and professionalism on the court are equal to what clients can come to expect of him when looking for a first-time mortgage or in looking to refinance.
It seems Phil's only shortcoming is his love for the lowly Toronto Raptors. Clients, though, can rest assured in this knowledge as it only helps to further fuel Phil's unabashedly "loyal" reputation.
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 After emigrating to Canada in the early 1980s from England, John Benstead held a number of management positions with leading Canadian companies in their respective fields. He was the vice president of sales for two leading manufacturers serving the gift and tableware market. He was also the vice president and principle of Canada's leading credit card merchandise marketing company. In this latter position, part of the company's client portfolio consisted of all bank and non-bank credit card companies.
John was also vice president and principle for one of Canada's leading response marketing and fulfillment companies, which focused primarily on television campaigns and database marketing to all of Canada's department store chains and gasoline company customer bases.
In 2003, John came out of self-proclaimed "semi-retirement" to become a mortgage broker. It was a shift in direction for John but one he wholeheartedly pursued after a particularly frustrating experience he'd had with a bank that was providing him with a mortgage. From that moment on, John has vowed to be everything that particular bank was not. He also set out to provide a level of service and responsiveness all people seeking a mortgage should come to expect. As the father of two grown sons, John has earned a reputation as the "perfect mortgage broker" for first time buyers.
Possessing that dry sense of humor the British are so known for, a sharp wit and raw charm, John has a special relationship with his clients and aims to please. More importantly, John is a wizard with getting the best possible rate possible for his clients. After all, what lender could possibly resist the gentle prodding of an Englishman?
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 Marcus Tzaferis is a native Torontonian who has never forgotten his European roots. He possesses a relentless passion that wholly reflects an upbringing steeped in Greek tradition. And it is this passion that has made Marcus one of the most sought out and effervescent people in the Canadian mortgage industry. He eats, sleeps and breathes mortgages.
Marcus' foray into the industry began humbly enough with his enrollment at Wilfrid Laurier University where he majored in Economics and Finance. He graduated with a Bachelors of Business Administration, with Honours, which led to a position with the Investment Banking Division of a major Canadian bank as an Equity Research Associate.
In 2002 Marcus joined Morcan Financial as the Vice-President of Sales and Marketing. While at Morcan Financial, Marcus worked closely with various lenders to build brand recognition and strengthen relationships. His ability to develop strong reciprocal relationships allowed him to help various lenders craft mortgage products that catered not only to the mortgage broker channel, but to the needs of both the homeowner and the investor. Notably, Marcus has been awarded Broker of the Year from the company every year since he started.
In less than a decade, Marcus has been able to cultivate a mortgage portfolio that has helped Morcan Financial, now known as MorCan Direct, achieve a portfolio of approximately $1.75 billion dollars in residential and commercial mortgage origination. Though diligence and hard work played a part in this achievement, Marcus' gregarious, gracious and warm approach has also been extremely important in his success.
With his education and knowledge of the industry, Marcus past achievements also include joining the faculty of Seneca College as a professor of the Mortgage Broker Program, winning the Top 100 Broker award from national mortgage lenders for several years running. He also remains an active participant and member of the Canadian Association of Accredited Mortgage Professionals.
And with his highly touted monthly newsletters and open seminars at a variety of locations, including the National Home Show and the Financial Forum; Marcus Tzaferis has firmly established himself in the top 1% of Mortgage Brokers in Canada. Because of this he regularly appears on CBC The National and CP24, where his opinions on the Canadian mortgage industry are highly regarded.
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