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A better way to mortgage

Find Your Way Home. Finance It Your Way.

Buying a condo in Vancouver, renewing in Toronto, or refinancing in Calgary? Start with the mortgage decision you actually need to make.

Compare rates, payment flexibility, lender requirements and local ownership costs—with practical guidance for your next move in Canada.

Explore my options See mortgage rates
Canadian homebuyers reviewing mortgage financing options with an advisor
Mortgage advisor comparing Canadian mortgage rates and lending terms
Know the full borrowing cost

The best mortgage fit is more than the lowest rate

A low advertised rate can look attractive until you need to move, break the term or refinance. Compare your real options using the payment, penalty formula, term conditions and costs you could face in your province.

Qualification Income, credit, debts, down payment or equity, property type and lender guidelines determine what you may qualify for.
Payment Compare the payment you can manage today and how your mortgage could behave when rates or circumstances change.
Flexibility Prepayment privileges, portability and open-versus-closed terms matter if you may sell, move or repay early.
Exit cost Understand how a lender calculates penalties before choosing a mortgage you may need to break before maturity.
Important: An advertised or quoted mortgage rate is not an approval. Available rates, lenders, terms and conditions depend on the complete borrower and property file as well as market conditions.
Find your next move

A clearer route from your mortgage question to your next step

Choose the situation closest to yours. Each path explains what matters, when to start and how to compare realistic financing—not just the cheapest headline rate.

03

Mortgage refinance

Restructure an existing mortgage for equity access, debt consolidation, renovations or a different repayment plan.

Compare mortgage refinancing
04

HELOC

Consider a home equity line of credit when flexible, revolving access to secured borrowing fits your needs.

Understand HELOC options
05

B-lender mortgages

Explore alternative qualification when a traditional prime lender does not fit your income documentation, credit or debt profile.

Review B-lender mortgages
06

Private mortgages

Evaluate short-term or equity-focused financing carefully, including rate, fees, term, repayment risk and exit strategy.

Explore private mortgage options
What helps with qualification

Know what lenders will ask before you apply

From a Surrey condo buyer to an Edmonton business owner, each application depends on verifiable income, debts, property details and the lending rules that apply. Prepare these basics to make your conversation more useful.

Income Employment, salary, variable compensation, self-employed income and supporting documentation where applicable.
Credit & debts Credit profile plus recurring obligations such as credit cards, vehicle loans and lines of credit.
Down payment The amount available, source of funds and how your down payment affects the requested mortgage structure.
Property Purchase price or estimated value, location, occupancy, property type and relevant housing costs.
Existing mortgage Current balance, rate, maturity date and potential penalty if you are refinancing or switching before maturity.
Mortgage documents checklist Mortgage affordability guide Mortgage stress test guide Down payment guide Credit score guide
For existing homeowners

Need funds from your home? Compare the total cost first

Home equity can support renovations, debt consolidation or a major expense, but accessing it also adds borrowing risk. A refinance may trigger a penalty, a HELOC may have a variable rate, and a second mortgage adds another payment. Compare costs and repayment plans before deciding.

Refinance

Replace or restructure your existing mortgage and potentially change the balance, rate, amortization or term.

HELOC

Use revolving secured credit when you prefer to draw and repay funds rather than borrow everything at once.

Second mortgage

Add another mortgage behind your existing first mortgage instead of replacing the first mortgage immediately.

Home equity loan

Borrow a defined amount secured by available equity with a structured repayment arrangement.

Compare HELOC vs refinance Compare second mortgage vs refinance

Also see: home equity loan vs HELOC and HELOC vs second mortgage .

Canadian homeowners discussing mortgage refinance and home equity borrowing
Local rules. Real-life choices.

Canadian mortgage rules—and local housing realities—matter

A Toronto condo and a rural Alberta acreage can raise very different lender questions. Land transfer taxes, insurance requirements, property type, appraisal and provincial regulations affect what you should budget for and who may finance the property.

01

The mortgage stress test can affect affordability

For many federally regulated mortgage applications, lenders use a qualifying rate higher than the contract rate to assess repayment capacity. The precise rule and any exemption depend on the transaction, lender and current regulation.

Understand the mortgage stress test
02

Renewal is a chance to compare

You do not have to accept your existing lender's first renewal offer. Compare the proposed rate, term, payment and mortgage features before committing.

Review lender switching
03

Some straight switches receive different stress-test treatment

Certain qualifying uninsured straight switches between federally regulated lenders may receive different minimum qualifying-rate treatment when the loan balance and remaining amortization are not increased. The receiving lender still reviews and approves the application.

04

Mortgage brokering is regulated provincially and territorially

Regulation and licensing are handled at the provincial or territorial level. Broker access to lenders can also vary, so borrowers should understand which lender options are actually being compared.

Read about mortgage brokers
Mortgage guidance by province Ontario mortgages British Columbia mortgages Alberta mortgages Mortgage guidance by city
Local details make a difference

Your city shapes more than your home search.

Mortgage costs and property considerations can change from one market to the next. Use these examples as a starting point, then explore province-specific guidance for your own purchase or renewal.

British Columbia

Vancouver & the Lower Mainland

For a Vancouver condo or Surrey townhouse, review strata fees, property taxes, your down payment and possible property transfer tax before deciding what you can comfortably afford.

BC mortgage considerations
Ontario

Toronto & the GTA

Buying a Toronto condo? Include maintenance fees and closing expenses in the budget. Municipal land transfer tax can also apply within Toronto, on top of provincial tax.

Ontario mortgage considerations
Alberta

Calgary & Edmonton

Whether you are buying a detached home or an investment property, compare lender treatment of rental income, home condition, property taxes and any applicable land-title charges.

Alberta mortgage considerations

Outside these markets? Browse mortgage information by province or find mortgage guidance by city. Examples are educational and do not indicate a guaranteed loan offer or service availability in every location.

Your circumstances matter

Mortgage guidance for the way you actually earn and borrow

Not everyone has a fixed salary, perfect credit or a 20% down payment. The right starting point is a truthful view of your income, equity, credit, property and longer-term repayment plan.

First-time home buyers

Coordinate affordability, down payment, pre-approval and mortgage conditions before making a purchase offer.

First-time home buyer guidance

Self-employed borrowers

Review lender documentation and income approaches when business income does not fit a simple salaried application.

Self-employed mortgage options
Property matters too

Financing varies by property type and neighbourhood

A downtown condo, suburban townhouse, rental duplex and custom build may be reviewed differently. Condo fees, rental income, appraisal, access, zoning and property condition can all affect lender approval.

Residential House mortgages Mortgage planning for detached, semi-detached and other houses. Condominium Condo mortgages Review affordability and lender considerations for condominium purchases. Townhome Townhouse mortgages Financing considerations for townhouse and row-home purchases. Multi-unit Duplex & triplex mortgages Review financing where multiple units and rental income may affect qualification. Investor Investment property mortgages Compare mortgage considerations for rental and income-producing properties. Construction Construction mortgages Understand financing and staged funding for a new construction project.
Canadian borrowers discussing next steps for a mortgage application
A simpler path forward

Four practical steps to a more informed mortgage decision

Start with what you need to do and when. Gather the right details, compare realistic options and understand fees and lender conditions before you make a commitment.

1

Define your mortgage goal

Buying, renewing, switching, refinancing, using equity or exploring alternative financing.

2

Prepare the important details

Gather income, debt, credit, down payment or equity, property and current mortgage information.

3

Compare relevant mortgage paths

Focus on mortgage structures and lender categories that fit the actual borrower and property profile.

4

Understand the next requirement

Review documentation, conditions, costs and any follow-up needed before proceeding.

Start the online mortgage application Use mortgage calculators Understand mortgage rate holds
Avoid expensive surprises

Five questions to ask before choosing a mortgage

A good fit today should not turn into a costly surprise tomorrow. Use these questions when reviewing an offer or speaking with a broker or lender.

Compare
Why it matters
Useful next step
Fixed or variable?
Your rate and payment experience may respond differently to changing market rates.
Open or closed?
The ability to repay or break a mortgage early can affect both flexibility and borrowing cost.
What if I move?
Portability and penalties matter if you may sell or change properties before the mortgage term ends.
What fees apply?
Alternative and private financing may involve lender, brokerage, appraisal, legal or other transaction costs.
Bank or broker?
The way mortgage products are sourced and compared differs, and not every broker works with every lender.
Useful next reads

Find answers for the next mortgage decision

Mortgage rates Review rate guidance → Mortgage pre-approval Prepare to qualify → Mortgage renewal Compare your renewal → Mortgage refinance Review refinancing → Switch mortgage lenders Understand switching → HELOC Explore home equity credit → Private mortgage Review private lending → Mortgage comparisons Compare common options →
Straight answers

Questions Canadians ask before applying

Short, practical answers about rates, fees, approval, renewals and broker services. Requirements and costs can vary by lender and province.

Visit the full mortgage FAQ
What does a mortgage broker do in Canada?

A mortgage broker helps review your application and compare mortgage products from lenders available to that brokerage. They may help explain terms, costs and lender requirements, but they do not necessarily represent every lender.

Do Canadian mortgage brokers charge borrowers a fee?

Many standard residential mortgages are lender-paid, but broker or lender fees can apply to alternative and private mortgages. Ask who is being paid, how much, and when, before agreeing to proceed.

Is the lowest mortgage rate always the best mortgage?

Not always. Compare the rate you actually qualify for alongside payment, prepayment privileges, penalties, portability and total fees. A slightly different rate can come with materially different conditions.

Should I shop around when my mortgage is up for renewal?

Yes. Compare your existing lender’s renewal offer with other available options early enough to review approval, legal or transfer requirements. A better headline rate does not automatically mean a better overall switch.

Can I get a mortgage if my credit is not perfect?

Possibly. Your income, debt, down payment or equity, property and recent credit history all matter. B-lender or private options may carry higher rates and fees, so review an exit strategy and total cost.

What should I prepare before asking for mortgage options?

Have a rough timeline, property city and price or value, employment and income details, monthly debts, down payment or equity amount, and any current mortgage balance and renewal date.

Can I switch lenders when my mortgage renews?

Often, subject to the new lender’s approval. Ask about discharge, legal or registration fees, portability of insurance and whether your change qualifies as a straight switch under applicable rules.

Tell us what you need

Tell us where you are in your mortgage journey.

Looking at a purchase, renewal or refinance? Share your province, mortgage goal and timeline to start a more focused conversation.

Buying: City, price range and down payment estimate.

Renewing: Maturity month and your current lender's offer.

Refinancing: Property location and the reason you want to access equity.

Do not include your SIN, banking passwords or full financial records in this initial enquiry. Submission is not mortgage approval or a rate guarantee.

Start with a few details

Use the form below to send your enquiry.

Next step: talk through your situation

Ready to move forward with more confidence?

Tell us whether you are buying, renewing, refinancing or looking at home equity. Include your province, approximate timeline and the questions you need answered. Do not send sensitive financial documents through an unsecured form.

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