Mortgages

What is an Adjustable Rate Mortgage in Canada?

What is an Adjustable Rate Mortgage in Canada?

Thinking of getting an adjustable rate mortgage? Here's how it works and why it may or may not be the right mortgage for you.

How Mortgage Interest is Calculated

How Mortgage Interest is Calculated

Mortgage interest may seem like a straightforward concept, but in reality, things can get a bit technical and murky. Here's how it work in detail.

Pay Off Mortgage or Invest in Canada?

Pay Off Mortgage or Invest in Canada?

Can't decide between paying down your mortgage or investing? Here's the factors you need to consider to ensure you make the right choice for you

What is a Variable Rate Mortgage in Canada?

What is a Variable Rate Mortgage in Canada?

With a variable rate mortgage, your interest cost may change during your term. Here are the risks and benefits you can expect with this type of loan

FHA Loans Are Not Available in Canada, Here’s The Equivalent

FHA Loans Are Not Available in Canada, Here’s The Equivalent

You won't find FHA mortgage loans in Canada, but there's an alternative available from a government-owned corporation that offers similar features.

HELOC vs Mortgage in Canada: How to Choose

HELOC vs Mortgage in Canada: How to Choose

A HELOC and mortgage are two ways to finance the purchase of a home. Before selecting one, ensure you know the pros and cons of each.

What is Mortgage Principal?

What is Mortgage Principal?

Your mortgage payments are made up of two components: principal and interest Here's how each is calculated and how they affect one another.

Mortgage Refinancing in Canada

Mortgage Refinancing in Canada

Refinancing your mortgage means you replace your existing mortgage with a new one. Here's how it works and when its worth pursuing.

Who is Mortgagee in Canada?

Who is Mortgagee in Canada?

A mortgagee is a lender that provides financing for a borrower to purchase a home. Here's what rights they have and who can act as one

What is a High-Ratio Mortgage in Canada?

What is a High-Ratio Mortgage in Canada?

Are you looking to make a small down payment toward your home purchase? If so, you'll likley need a high ratio mortgage. Here's how it works.

What is Home Equity and How You Can Use It (Line of Credit and Loan)

What is Home Equity and How You Can Use It (Line of Credit and Loan)

If you have a mortgage, you've probably heard of the concept of home equity. Here's what it means and how it can help you secure low-cost financing.

Mortgage Down Payments in Canada Explained

Mortgage Down Payments in Canada Explained

A down payment is a sum of money you pay upfront when purchasing a home. But is a down payment necessary? And how much do you need to contribute?

How to Get a Mortgage Pre Approval in Canada

How to Get a Mortgage Pre Approval in Canada

We've compiled everything you need to know about one of the most critical parts of buying a home: mortgage pre-approval.

Rent vs Buy in Canada: Benefits and Drawbacks

Rent vs Buy in Canada: Benefits and Drawbacks

Buying a home has long been seen as the best way to generate wealth in the long term. But, today's hot real estate market is breaking all the rules.

What is a Mortgage in Canada?

What is a Mortgage in Canada?

Getting a mortgage might feel like one more hoop to jump through before buying your house, but it's worth slowing down to learn more about your loan.

How to Get Approved for a Mortgage in Canada

How to Get Approved for a Mortgage in Canada

A mortgage is likely the biggest purchase you'll ever make. We guide you through the steps, from start to finish.

How Much is Real Estate Commission in Canada?

How Much is Real Estate Commission in Canada?

Real estate professionals charge commission fees for helping people buy and sell homes. Here's how they work and what you can expect to pay.

Condo Mainteance Fees in Canada Explained

Condo Mainteance Fees in Canada Explained

If you're an aspiring condo owner, be prepared to pay monthly condo fees. Here's why these fees are charged, what they cover, and what to watch for.

What is a Cash Back Mortgage in Canada?

What is a Cash Back Mortgage in Canada?

Could you use a bit of extra cash after taking possession of your new home? If so, you might want to explore what a cash back mortgage has to offer

What is a Subprime Mortgage in Canada?

What is a Subprime Mortgage in Canada?

Having trouble qualifying for a regular mortgage due to your low credit score? If so, you might want to explore what subprime mortgages have to offer.

What is the HST / GST Rebate on New Homes?

What is the HST / GST Rebate on New Homes?

What if a form could potentially save you thousands of dollars on the purchase of your brand-new home? Here's what you need to know.

New Mortgage Qualification Rules in Canada

New Mortgage Qualification Rules in Canada

Knowing the rules that govern mortgages in Canada can arm you with the knowledge to better qualify for one. Learn the basics using this helpful guide.

How to Renew Your Mortgage in Canada

How to Renew Your Mortgage in Canada

Has your mortgage come up for renewal? If so, here's what you can expect from the process and some tips on how to make the most of it.

What is a Bully Offer in Real Estate in Canada? (Pre Emptive Offers)

What is a Bully Offer in Real Estate in Canada? (Pre Emptive Offers)

The real estate market can be very competitive. Learn how some homebuyers try to gain an edge by using an aggressive tactic known as the bully offer

Interest Rate Differential (IRD) Calculation in Canada

Interest Rate Differential (IRD) Calculation in Canada

Thinking of breaking your mortgage contract? If so, you might have to pay a penalty known as the Interest Rate Differential (IRD).

What is a Collateral Mortgage in Canada?

What is a Collateral Mortgage in Canada?

A collateral mortgage is a way to finance your home purchase and gain access to a line of credit. Find out if this type of mortgage is right for you!

Debt Service Ratio Explained

Debt Service Ratio Explained

Learn why your personal debt service coverage ratio is important, how to calculate it, and how lenders use it accept or reject your loan application

What are Closing Costs When Buying a House?

What are Closing Costs When Buying a House?

Closing costs add a considerable financial burden when you buy or sell a property. Discover which you must pay and which are optional or negotiable.

What is Bridge Financing in Canada?

What is Bridge Financing in Canada?

The gap between house sale closing times presents a challenge for individual homebuyers and real estate companies alike Bridge loans can fill the gap

How to Sell Your House in Canada

How to Sell Your House in Canada

Selling your home is a serious commitment but it doesn't have to be overwhelming. Read these seven steps to keep it simple - and successful.

Mortgage Stress Test in Canada: Qualifying for a Mortgage

Mortgage Stress Test in Canada: Qualifying for a Mortgage

First-time home buyers and seasoned property owners alike have to pass the mortgage stress test. Here is everything you need to know!

What is an Amortization Period?

What is an Amortization Period?

A mortgage amortization period affects many elements within your loan. Explore what you should consider before you decide on which is best for you.

Open vs Closed Mortgage: What’s the Difference?

Open vs Closed Mortgage: What’s the Difference?

Confused about the differences between open and closed mortgages? Here's how they compare with one another and how to select the one right for you

Mortgage Broker vs Bank in Canada: Which is Better?

Mortgage Broker vs Bank in Canada: Which is Better?

When you’re in the market for a mortgage, your local bank is not the only way. So, what's the difference between a bank and a broker?

Variable vs Fixed Mortgage Rates in Canada: Here’s How to Decide (2022)

Variable vs Fixed Mortgage Rates in Canada: Here’s How to Decide (2022)

Both fixed-rate and variable-rate mortgages have their benefits and drawbacks. Here's what each has to offer, and how to pick the one right for you

Joint Tenants and Tenants in Common in Canada: What’s the Difference?

Joint Tenants and Tenants in Common in Canada: What’s the Difference?

Co-owning property is a big commitment. Discover the difference between joint tenants and tenants-in-common and how each could affect you.

10 Costs to Be Aware of When Buying a Home in Canada

10 Costs to Be Aware of When Buying a Home in Canada

The listing price is far from the real cost of your new home. Insurance, taxes and other closing costs could add 25% on top.

BC First Time Home Buyer Programs

BC First Time Home Buyer Programs

Purchasing your first home can be exciting, but probably the largest purchase you'll ever make. Learn how the BC First Time Home Buyer's Program can help trim your costs.

What is the RRSP Home Buyers’ Plan (HBP) in Canada?

What is the RRSP Home Buyers’ Plan (HBP) in Canada?

Are you keen on buying your first home but short on money? The Home Buyers' Plan can help by turning your RRSP into your own personal bank.

What is Mortgage Insurance in Canada? (CMHC)

What is Mortgage Insurance in Canada? (CMHC)

Mortgage default insurance is an expense you may have to incur when purchasing a home. Here's how much it could cost you - and how to avoid it

Porting or Transferring Your Mortgage in Canada

Porting or Transferring Your Mortgage in Canada

Are you looking to move to a new home, but wish you could take your mortgage with you? By porting it you can do just that. Here's how it works.

How a Blend and Extend Mortgage Works in Canada

How a Blend and Extend Mortgage Works in Canada

A blend-and-extend mortgage is an alternative way to obtain a lower mortgage rate without having to refinance and pay a steep prepayment penalty.