About Me
About Wayman Cheng
As a Canadian helping people make confident mortgage decisions—for both home financing and commercial lending—without the stress, surprises, or bank runaround.
As an independent mortgage consultant, I don’t “sell” one lender’s product. I shop the market, structure the deal, and negotiate terms that fit your real plan—rate, penalty risk, flexibility, and approval certainty.
What you can expect when you work with me:
- A clear strategy before you commit
- Multiple lender options (not one)
- Fast, organized approvals with proactive updates
- Guidance that protects you long-term, not just today’s rate
If you’re buying, renewing, refinancing, or financing a property for business—let’s map out the smartest next step.
Let’s talk. Tell me what you’re trying to accomplish, and I’ll show you the cleanest path—residential or commercial.
Frequently Asked Questions
Your borrowing amount depends on your income, debts, credit profile, down payment, and today’s interest rates. Lenders also apply a stress test to ensure you can handle higher rates in the future. The fastest way to get an accurate number is a quick affordability review using your income and liabilities.
Many traditional lenders prefer strong credit (often around 680+), but approval is based on your full file—income stability, down payment, and overall risk. If your score is lower, there may still be options through alternative lending with the right strategy.
Down payment rules depend on the purchase price and your situation. - 5% minimum is possible in many cases (subject to purchase price and qualification) - 20%+ typically avoids mortgage default insurance and can increase lender flexibility
The best choice isn’t always the minimum—your down payment affects total borrowing cost, monthly payment, and long-term flexibility.
The best choice isn’t always the minimum—your down payment affects total borrowing cost, monthly payment, and long-term flexibility.
A fixed rate gives stable payments and predictable budgeting. A variable rate can change with the market and may be better for borrowers who can tolerate fluctuations. The “right” choice depends on your timeline, risk tolerance, and whether flexibility or stability matters most.
Most applications require: - Government photo ID - Proof of income (pay stubs and employment letter, or business docs) - Recent bank statements (often used to confirm down payment) - Details of debts and obligations - Property details (once you have an accepted offer)
Self-employed and complex files may need additional documents.
Self-employed and complex files may need additional documents.
Common costs can include appraisal fees, legal fees, and (in some cases) lender or broker-related fees depending on the product type. If you break a mortgage early, penalties can vary widely—especially between fixed-rate products (which may involve interest rate differential calculations) and variable-rate products.
Mortgage process can feel overwhelming - so I break everything down in plain English, answer your questions and guide you step-by-step. No pressure, no confusion, just clarity.
When I bought my first home, I was excited—but completely overwhelmed.
I was touring multiple houses a day, juggling inspections, paperwork, and timelines, while trying to figure out how to get the “best mortgage” without feeling taken advantage of.
The truth was, no one could explain anything clearly. Everyone sounded salesy, rushed, and more interested in closing a deal than helping me understand what I was signing. I remember thinking, “Why does this have to feel so confusing?”
That experience stayed with me.
Today, as a mortgage consultant, I make sure my clients never feel that way. I take the time to help you get comfortable, understand your goals, and walk you through mortgage solutions in plain language—so you always know what’s happening and why.
No pressure. No confusion. Just the right lending strategy for you.
Wayman Cheng
Mortgage Consultant