Mortgages

What is an Adjustable Rate Mortgage?

What is an Adjustable Rate Mortgage?

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 Does Mortgage Interest Work?

How Does Mortgage Interest Work?

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? Here’s How To Choose

Pay Off Mortgage or Invest? Here’s How To Choose

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?

What is a Variable Rate Mortgage?

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: Here’s What To Consider Before Deciding

HELOC vs Mortgage: Here’s What To Consider Before Deciding

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 Principal in a Mortgage? What about Interest?

What is Principal in a Mortgage? What about Interest?

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

Refinancing a Mortgage: What it is & When to Refinance

Refinancing a Mortgage: What it is & When to Refinance

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

Mortgagee: Who Are They & What Do They Do

Mortgagee: Who Are They & What Do They Do

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

Here’s What a High Ratio Mortgage is

Here’s What a High Ratio Mortgage is

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.

Here’s What Home Equity Is and How You Can Use It

Here’s What Home Equity Is and How You Can Use It

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.

What is a Down Payment & How Much Do You Need?

What is a Down Payment & How Much Do You Need?

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?

Mortgage Pre Approval: A Complete Guide

Mortgage Pre Approval: A Complete Guide

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: Is it Better to Rent or Buy?

Rent vs Buy: Is it Better to Rent or Buy?

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 and How Does it Work in Canada

What is a Mortgage and How Does it Work 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 a Mortgage in Canada

How to Get 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.

Real Estate Commission Fees: How Much Are They & Who Pays?

Real Estate Commission Fees: How Much Are They & Who Pays?

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 Fees Explained: Here’s What You Need To Know

Condo Fees Explained: Here’s What You Need To Know

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.

Is a Cash Back Mortgage Right For You?

Is a Cash Back Mortgage Right For You?

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

A Guide to Subprime Mortgages in Canada

A Guide to Subprime Mortgages 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.

Your Guide To The New Housing GST / HST Rebate

Your Guide To The New Housing GST / HST Rebate

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.

Mortgage Rules for Canadians Explained

Mortgage Rules for Canadians Explained

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.

The Mortgage Renewal Process Explained

The Mortgage Renewal Process Explained

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.

Understanding The Bully Offer In Real Estate

Understanding The Bully Offer In Real Estate

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) Mortgage Penalty Explained

Interest Rate Differential (IRD) Mortgage Penalty Explained

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

Collateral Mortgage Advantages & Disadvantages

Collateral Mortgage Advantages & Disadvantages

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 Ratios: How to Calculate GDS & TDS

Debt Service Ratios: How to Calculate GDS & TDS

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

Closing Costs Explained: A Guide for Buyers and Sellers

Closing Costs Explained: A Guide for Buyers and Sellers

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.

A Guide to Bridge Financing

A Guide to Bridge Financing

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 7 Easy Steps

How to Sell Your House in 7 Easy Steps

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: A Guide for Canadians

Mortgage Stress Test: A Guide for Canadians

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

Amortization Periods Explained

Amortization Periods Explained

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 Mortgages: Differences Explained

Open vs Closed Mortgages: Differences Explained

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: Pros & Cons

Mortgage Broker vs Bank: Pros & Cons

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?

Fixed Rate vs Variable Rate Mortgages in Canada: Advantages & Disadvantages

Fixed Rate vs Variable Rate Mortgages in Canada: Advantages & Disadvantages

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 vs Tenants in Common: Which is Better?

Joint Tenants vs Tenants in Common: Which is Better?

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

10 Costs to Be Aware of When Buying a Home

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

First Time Home Buyers’ Program for BC Residents

First Time Home Buyers’ Program for BC Residents

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 Home Buyers’ Plan?

What Is The Home Buyers’ Plan?

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.

Mortgage Default Insurance (including CMHC) Explained

Mortgage Default Insurance (including CMHC) Explained

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 a Mortgage: The Ins & Outs

Porting a Mortgage: The Ins & Outs

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.

Blend and Extend Mortgage: A Simple Guide

Blend and Extend Mortgage: A Simple Guide

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.