Frequently Asked Questions

Here's How The 60-Day Rate Drop Protection After Funding And $2,000 Guarantee Work?

Your 60-day Rate Drop Protection after funding helps you benefit if mortgage rates drop within 60 days after funding. If they do, you get a refund.

In addition, the $2,000 guarantee provides extra protection if your total savings don’t meet expectations.

This exclusive offer applies to mortgages funded through our platform

What you get

Full-featured mortgages with no teaser rates or unnecessary restrictions.
Payments are always calculated using your actual quoted interest rate.
Unlike some competitors, I do not promote the “effective rate” model, which makes mortgage rates appear lower than they actually are.
Transparent pricing with no hidden calculations — what you’re quoted is the rate your mortgage payment is based on.

You Have 2 Unbeatable Options to Choose From, you choose how you want to be rewarded:

Option #1: 60-Day Rate Drop Protection After Funding (“Priceless”)

If the lender’s interest rate drops within 60 days after funding, you get a cash refund equal to the difference in interest savings.

Think of it as getting free extra cash after funding.

Example:

Loan amount $350,000, 5 year fixed, 30 year amortization

Mortgage funded May 1, 2026 at 4.09%
Interest costs over term: $67,781
Lender rate dropped June 25, 2026 to 3.95%
Total interest costs over term based on the lower rate: $65,410

Here’s how your refund is calculated:
$67,781 − $65,410 = $2,371

That’s $2,371 back in your pocket.

Plus:

Up to $2,500 Bonus Cash Back
A true post-funding bonus that is not tied to higher rates or loan penalties.
You keep it even if you break your mortgage early. (Plus lender cash back if offered)

Plus:

$250 Bonus Gift
Receive an extra $250 just for using our platform.
If you were referred by a friend, you both receive $250 after funding.

(Or take the $2,000 after funding, if your total savings don’t meet expectations. It’s your choice)

Option #2: Cash Back Maximizer

Choose to maximize your upfront cash back instead.

Get 75% of my commission after successful closing, which typically ranges from $1,000 to $10,000 depending on the loan amount. (Or take the $2,000 after funding, if your total cash back don’t meet expectations. It’s your choice)

This cash is:

Paid after closing
Yours to keep
Not clawed back even if you break your mortgage early
Plus lender cash back (if offered)

Which Option Is Better?

Choose Option #1 if you want protection against rate drops and stacked post-funding bonuses
Choose Option #2 if you prefer a larger upfront cash payout after funding.

Email me at mikehamdan@mortgageoutlet.ca or call me at 416-524-7471 to see how much you can expect to receive before applying.

It’s my way of ensuring you receive maximum value and complete peace of mind before and after funding.

Cash Back Mortgages VS Bonus Cash Back Mortgages: Which Is Better?

Cash Back Mortgages

Pros:

Get 1% to 3% cash back of your mortgage amount
If you are cash strapped, the cash back mortgage can provide huge relief after funding
Typically, a cash back mortgage is available with a fixed rate and 3 years term or more

Cons:

Higher rate than a standard mortgage (compare rates and offers before you commit)
Your lender may demand the full cash back amount or a portion of the cash back amount back if you break the mortgage before maturity. Be sure to get clarification upfront
Some lenders may charge a huge penalty when you break the loan before maturity and some may not allow you to leave unless you sell the property. Be sure to get the facts upfront

Bonus Cash Back Mortgages

Pros:

Better mortgage rate upfront
The bonus cash back is yours to keep even if you decide to break the loan before maturity
Most financial institutions/mortgage lenders offer bonus cash back. Some mortgage brokers/agents offer it too. Just make sure to ask upfront

Cons:

Don’t get stuck with a mortgage that come with any type of restrictions or a bona fide sales clause that prevent you from leaving unless you sell the property. (For your peace of mind, I only promote non-restricted mortgage products)

For more information, contact Mike Hamdan. Mike is very knowledgeable, resourceful and fun to deal with and packs 16 years of experience.

Throughout his career, he offered unbiased advice to 1000s of new and existing homeowners. You can always count on Mike to find you a suitable mortgage at the best rate within minutes and his exclusive mortgage offers and rewards are so hard to resist.

Mike is active on the site under the Mortgage Outlet Inc brand and can be reached at (416) 524-7471 or by email mikehamdan@mortgageoutlet.ca or mike.hamdan28@gmail.com for immediate reply.

My mortgage is coming up for renewal, what are my options?

Shopping around before signing your renewal offer is the smartest thing you can do if you want to reduce your interest rate and save money along the way, but be sure to avoid this common mistake and you will do great. Get the facts upfront at: https://www.lowlowrates.ca/mortgage-renewal-transfer

Am I better off taking a mortgage from a salaried mortgage advisor or a commissioned mortgage advisor?

Let’s not kid ourselves; it makes no difference who you get your mortgage with as long as you are getting the best service at the lowest rate and with no mortgage restrictions. Shop rates with confidence and earn bonus cash back at https://lowlowrates.ca/best-mortgage-rates/

Is a full featured mortgage same as a non-restricted mortgage?

Yes, as long as you can switch lenders during the term and not getting hit with a Bona-Find sales clause. Otherwise, it’s a restricted mortgage and it’s proven to be a costly experience long term. Shop rates with confidence at https://lowlowrates.ca/best-mortgage-rates/

I just received my mortgage approval, but not sure if I am overpaying on the rate and if the mortgage terms are the right fit for me, what are my options?

If in doubt, seek a second opinion from a licensed mortgage professional to ensure you are not overpaying on the rate and if the proposed mortgage terms are in your best interest? Or click here for a no obligation mortgage assessment

Do I get any incentives for buying a home in GTA?

Absolutely. In fact, you can get pre-qualified in minutes, secure the best non-restricted mortgage rate and get connected with qualified real estate agent to assist you. Shop with confidence at https://lowlowrates.ca/home-buyer-bonus-offer/

I am a first time home buyer and need help understanding this complicated homeownership process?

If you are facing the same challenges, you need to read this short guide. It reveals how to find the right real estate agent to work with? What mortgage options to avoid so you are not stuck with a mortgage that can potentially work against you not for you? How to reduce some of your closing costs if you are buying a home in GTA and much more. Learn more at https://www.lowlowrates.ca/7-step-by-step-guide-to-becoming-a-homeowner

What happens if mortgage rates went down before funding my mortgage, do lenders allow rate adjustment and how often?

Not all lenders allow it, so you need to confirm the availability of this key feature with your lender and or mortgage advisor in advance. This could mean $100s of dollars in reduced interest payments each month, and potentially $1000s of dollars back in your wallet.

You helped me fund my mortgage and I was blown away by your service, knowledge and mortgage rates. I will not hesitate to refer friends and colleagues your way. Do you offer referral fee while having my friends and colleagues best interest at all times?

Absolutely. Use this link to submit your referral request: www.lowlowrates.ca/refer-a-friend-earn-referral-fee-offer

How can you help me save time and money?

lowlowrates is created by a homeowner for homeowners after a frustrating and costly experience when Mike Hamdan decided to ditch renting and buy his first home 20 years ago and ended up wasting valuable time and $1000s of dollars down the drain on the wrong mortgage and greedy service providers.

Mike made it his mission to help new and existing homeowners reduce the rising cost of owning a home, simplify the homeownership experience, increase cash flow and build a user friendly eco-system around it to make your homeownership more affordable and less stressful before, during and after moving in.

Throughout his 16 years of mortgage experience, he offered unbiased advice to 1000s of new and existing homeowners and he is happy to answer any question with no obligation on your part.

He is currently active on the site under the Mortgage Outlet Inc brand and can be reached at (416) 524-7471 or by email mikehamdan@mortgageoutlet.ca

Cash Back Mortgages VS Bonus Cash Back Mortgages: Which Is Better?

Cash Back Mortgages

Pros:

Get 1% to 3% cash back of your mortgage amount
If you are cash strapped, the cash back mortgage can provide huge relief after funding
Typically, a cash back mortgage is available with a fixed rate and 3 years term or more

Cons:

Higher rate than a standard mortgage (compare rates and offers before you commit)
Your lender may demand the full cash back amount or a portion of the cash back amount back if you break the mortgage before maturity. Be sure to get clarification upfront
Some lenders may charge a huge penalty when you break the loan before maturity and some may not allow you to leave unless you sell the property. Be sure to get the facts upfront

Bonus Cash Back Mortgages

Pros:

Better mortgage rate upfront
The bonus cash back is yours to keep even if you decide to break the loan before maturity
Most financial institutions/mortgage lenders offer bonus cash back. Some mortgage brokers/agents offer it too. Just make sure to ask upfront

Cons:

Don’t get stuck with a mortgage that come with any type of restrictions or a bona fide sales clause that prevent you from leaving unless you sell the property. (For your peace of mind, I only promote non-restricted mortgage products)

For more information, contact Mike Hamdan. Mike is very knowledgeable, resourceful and fun to deal with and packs 16 years of experience.

Mike is active on the site under the Mortgage Outlet Inc brand and can be reached at (416) 524-7471 or by email mikehamdan@mortgageoutlet.ca or mike.hamdan28@gmail.com for immediate reply.

My mortgage is coming up for renewal, what are my options?

Am I better off taking a mortgage from a salaried mortgage advisor or a commissioned mortgage advisor?

Is a full featured mortgage same as a non-restricted mortgage?

I just received my mortgage approval, but not sure if I am overpaying on the rate and if the mortgage terms are the right fit for me, what are my options?

Do I get any incentives for buying a home in GTA?

I am a first time home buyer and need help understanding this complicated homeownership process?

What happens if mortgage rates went down before funding my mortgage, do lenders allow rate adjustment and how often?

You helped me fund my mortgage and I was blown away by your service, knowledge and mortgage rates. I will not hesitate to refer friends and colleagues your way. Do you offer referral fee while having my friends and colleagues best interest at all times?

Absolutely. Use this link to submit your referral request: www.lowlowrates.ca/refer-a-friend-earn-referral-fee-offer