Canadian Mortgage Guides
Plain-language guides for borrowers and in-depth technical guides for mortgage brokers.
How Does a Mortgage Broker Get Paid in Canada?
Complete breakdown of mortgage broker compensation in Canada: finder's fees, volume bonuses, trailer fees, and when brokers charge borrower fees. Understand who pays your broker and what that means for you.
How to Verify a Mortgage Broker's License in Canada (By Province)
Step-by-step guide to verifying your mortgage broker or agent is properly licensed in Canada. Province-by-province regulator guide: FSRA in Ontario, BCFSA in BC, RECA in Alberta, AMF in Quebec, and more.
Mortgage Broker vs Bank in Canada: Which Should You Use?
An objective comparison of using a mortgage broker versus going directly to a bank in Canada. When brokers have the advantage, when your bank wins, and how to decide which option is right for your situation.
Questions to Ask Your Mortgage Broker in Canada (and Red Flags to Watch For)
The specific questions every Canadian borrower should ask their mortgage broker — about compensation, lender selection, mortgage terms, and penalties. Plus red flags that signal a broker is not acting in your interest.
How to Get the Best Mortgage Rate in Canada (2026 Guide)
Practical strategies Canadian borrowers use to get the lowest mortgage rate: rate shopping, rate holds, credit optimization, and the key factors lenders use to price mortgages. Includes what to compare beyond the rate.
First-Time Home Buyer Programs in Canada (2026): FHSA, HBP, and More
Complete guide to every first-time home buyer program available in Canada in 2026: First Home Savings Account (FHSA), RRSP Home Buyers' Plan (HBP), land transfer tax rebates by province, and the new down payment rules for properties up to $1.5M.
Mortgage Pre-Approval in Canada: What It Is, How It Works, and Why It Matters
A complete guide to mortgage pre-approval in Canada. What documents you need, how long pre-approval takes, what a rate hold is, the difference between pre-qualification and pre-approval, and common reasons pre-approvals fall through.
Self-Employed Mortgage in Canada: How to Qualify in 2026
How self-employed Canadians qualify for a mortgage in 2026. What income lenders accept, stated income programs, B-lender options, required documents, and strategies to maximize your qualifying amount.
What Happens When Your Mortgage Renews in Canada: A Complete Guide
Everything Canadian homeowners need to know about mortgage renewal: when to start shopping, how to negotiate a better rate, whether to switch lenders, the stress test at renewal, and how to avoid costly mistakes.
How to Spot a Predatory Mortgage Broker in Canada: Red Flags and Scams
A practical guide to identifying predatory, unlicensed, or dishonest mortgage brokers in Canada. Real red flags, common scams targeting Canadian borrowers, and how to protect yourself from mortgage fraud.
Mortgage Prepayment Penalty in Canada: IRD vs Three Months' Interest (2026)
How Canadian lenders actually calculate your penalty when you break a mortgage early. The difference between the three-months-interest rule and the Interest Rate Differential (IRD), real dollar examples by lender type, and how to reduce what you pay.
BC's Mortgage Services Act (2026): What Changes for Borrowers on October 13
British Columbia is replacing the 1972 Mortgage Brokers Act with the new Mortgage Services Act on October 13, 2026. What the new licensing rules mean for BC borrowers, how to check your broker is compliant, and what to ask before you sign.
Porting a Mortgage in Canada: How It Works and When It Beats Breaking It (2026)
How mortgage portability works when you sell and buy at the same time in Canada. The blend-and-extend math, the closing-window rules, what disqualifies a mortgage from being ported, and when porting is cheaper than paying the penalty.
HELOC vs Refinance in Canada: Which Should You Use to Access Equity? (2026)
How a home equity line of credit compares to refinancing your mortgage in Canada: rates, qualification, the 80% LTV rule, and which one fits renovations, debt consolidation, or a one-time lump sum.
Bruised Credit Mortgage in Canada: How to Qualify With a Low Score (2026)
How to get a mortgage in Canada with bruised or bad credit. Minimum scores by lender type, what B-lender rates actually cost, and a realistic plan to rebuild your credit into an A-lender approval.
Newcomer to Canada Mortgage Programs: How to Qualify in 2026
How newcomers to Canada, permanent residents, work permit holders, and recent arrivals, can qualify for a mortgage without an established Canadian credit history. Down payment requirements, which banks have newcomer programs, and what documents to prepare.
Bridge Financing in Canada: How Buying Before Selling Works (2026)
How bridge financing lets you buy your next home before your current one sells. How it is calculated, what it costs, the firm-sale requirement, and when it makes more sense than a rent-back or a contingent offer.
Find the right mortgage for your situation
BIPS connects you with the right broker and lender for your specific needs - no guesswork.
Get started free →