Mortgage Terms

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Canada Child Benefit and Your Mortgage

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 Ratios GDS/TDS

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.

Mortgage Term: Disability Assistance Payment

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

Gifted Funds and Mortgages

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

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

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.

Canada’s Non-Federally Regulated Mortgage Providers

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...

Ontario Land Transfer Tax Rebate Explained

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...

Struggling Under the Stress Test

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.

Variable Rate Mortgages: Not All Calculated the Same

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...

Mortgage Term: Disability Assistance Payment

Sep 7, 2026

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

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Mortgage Term: Floatdown

Discover what a mortgage floatdown is and how it can improve your financial position.

Guide to Mortgage Penalties

Understand mortgage penalties in Canada before breaking your mortgage term. Learn about IRD, fixed vs variable rate penalties, and ways to minimize costly fees

Get a Mortgage Agent with a Strong Online Presence

Finding a mortgage agent with a strong online presence is important especially in today’s digital world. A strong online presence is indicator of a mortgage agent’s credibility, expertise, and client-centered approach

Mortgage Term: Earnings Statement

An earnings statement, also known as a payslip or pay stub, includes various information detailing an employee's earnings, deductions, and other relevant financial details for a specific pay period. Mortgage agents review and compare the information on an earnings...

Accessing Your Credit Score

In Canada, understanding and monitoring your credit score is crucial for managing your financial health. This score, a numerical representation of your creditworthiness, impacts various aspects of your financial life, from securing loans to negotiating better terms on...

Mortgage Term: Pre-Approval Letter

Discover what a pre-approval letter is and what it is based upon. Learn about what it really means and how it is used.

Lenders Don’t Like Condotels

Condotels, or condo/hotel hybrids, have piqued the interest of many Canadians, particularly those seeking a flexible investment opportunity. Learn what they are, their key features, and if they are an investment right for you!

Basis Points: Key to Smarter Mortgage Decisions

Learn what basis points are, why they are used and their impact on the mortgage application process.

Mortgage Term: Segregated Fund Annuity Contract

In Canada, a Segregated Fund Annuity Contract is a type of investment product offered by insurance companies that combines the growth potential of mutual funds with the security of an insurance policy. Segregated funds are similar to mutual funds but come with...

Mortgage Term: Assistance Holdback Amount

Discover the implications of the assistance holdback amount, how it relates to government programs and how it relates to construction loans and mortgages.

Using a Cash-Back Realtor

In today’s real estate market, many Canadian homebuyers don’t know about the benefits of a cash-back realtor. Imagine getting a part of the agent’s commission for every property deal. This is what cash-back home buying offers, making homes more affordable in Canada.

Mortgage Term: Graduated Rate Estate

Discover the implications of graduated rate estate, how it allows an estate to benefit from graduated income tax rates and the management of an estate’s assets.

Mortgage Commitment: What You Must Know Before Waiving Financing

Discover what a mortgage commitment is and its importance in regards to waiving conditions on your offer to buy a home. Learn what you need to know before waiving financing.

Mortgage Discharge Statement

Learn why the mortgage discharge statement is an important document that ensures transparency and accuracy when calculating the total payout for a mortgage transfer.

What’s Your Best Rate?

Rate is important, but going for the lowest rate mortgage could cost you far, far more. Learn about the ‘hidden’ risks of low-rate mortgages and discover your best rate.

There’s a Mortgage for Everyone

. The current reality for many Canadians is a complex financial profile, uncertain employment, and varied income streams, all of which make qualifying for a mortgage more challenging. However, the good news is that a wide variety of mortgage programs exist to cater to different borrower needs, making homeownership an attainable goal for many.