Mortgage Terms

Raising a family in Canada comes with significant financial responsibilities, from childcare costs to daily household expenses. For many families, the Canada Child Benefit (CCB) serves as a crucial financial lifeline, providing tax-free monthly payments to support...

Understanding Debt Service Rations GDS/TDS: When you hear that your mortgage application is ‘a little tight on ratios,’ it can sound like lender-speak for a hard no. It is not quite that simple. Canadian lenders use two percentages – Gross Debt Service, or GDS, and Total Debt Service, or TDS – to compare your gross income with the payments you are expected to carry.

Discover what disability assistance payments are, and how they help parents save for the long-term financial security and housing of their disabled children.

In the ever-evolving landscape of Canadian real estate, rising home prices have made it increasingly challenging for many buyers to enter the market. As a result, gifted funds for down payments have become a significant enabler for many prospective homeowners,...

Understanding Variable Mortgages: The right choice depends on how the product works, what your lender’s contract says, how long you expect to keep the mortgage, and – most importantly – whether your monthly cash flow has enough breathing room when rates move against you.

Understanding Fixed Mortgages: A fixed mortgage can feel like putting a fence around one of your household’s biggest expenses: for the length of your term, the interest rate—and usually the required principal-and-interest payment—stays put.

Mortgage providers in Canada are either federally or provincially regulated. Canada's chartered banks are federally regulated while many other lenders (see below) are not. Getting a mortgage from a non-federally regulated mortgage provider in Canada has both...

Imagine you and your partner are excited to buy your first home in Ontario. You spend your weekends looking at homes, dreaming of your future, and planning your perfect space. But then, you start to worry about the extra costs, like the land transfer tax. That's when...

Discover how the mortgage stress test in Canada impacts the ability of Canadians to afford homes and the actionable steps you can take to address this requirement.

Canadians are changing their preferences for mortgages. With a recent decrease in interest rates and speculation that more could be coming, brokers have been advising their clients to return to variable-rate mortgages from the 5-year fixed mortgages that have been the...