For borrowers
Mortgage Guides for Borrowers
Plain-language guides on how mortgage brokers work, how to choose one, and how to get the best deal on your Canadian mortgage.
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.
Gifted Down Payment Rules in Canada: Who Can Gift, Gift Letters, and Timing (2026)
How to use a family gift as a down payment in Canada. Who is allowed to give it on an insured vs conventional mortgage, what the gift letter must say, how long the money needs to sit in your account, and the mistakes that get a gift rejected at approval.
CMHC Secondary Suite Refinance: Borrow Up to 90% to Build a Rental Suite (2026 Guide)
How the CMHC Refinance program for secondary suites works: up to 90% of the as-improved value, 30-year amortization, a $2 million value cap, and the rules on short-term rentals and equity takeout. With a worked example and the premium table.
Second Mortgages in Canada: How They Work, Who Lends, and What They Cost (2026)
A plain-language guide to second mortgages in Canada. When a second mortgage makes more sense than breaking your first, who offers them, typical terms and fees, how much equity you can access, and the exit plan every second mortgage needs.
Debt Consolidation Mortgage in Canada: Rolling Debt Into Your Mortgage (2026)
How a debt consolidation refinance works in Canada: the 80% equity limit, how much it lowers your monthly payments, the true long-term cost, penalty math, and when a HELOC, blend-and-increase, or second mortgage is the better route.
Reverse Mortgages in Canada: How They Work, Who Offers Them, and the Real Costs (2026)
A clear guide to reverse mortgages in Canada for homeowners 55 and older. How much you can borrow, how interest builds up, who offers them, what it means for your estate, and the alternatives to compare first.
Getting a Mortgage With Commission, Contract, or Variable Income in Canada (2026)
How Canadian lenders qualify commission earners, contract workers, and people with bonus, overtime, or seasonal income. The two-year average rule, what documents to bring, how probation and contract renewals are treated, and which lenders are more flexible.
Co-Signer vs Guarantor on a Mortgage in Canada: What Each Means and the Risks (2026)
The difference between co-signing and guaranteeing a Canadian mortgage: who goes on title, how it affects the helper's own borrowing, taxes and first-time buyer status, and how to get off the mortgage later.
Getting a Mortgage After a Consumer Proposal in Canada (2026 Guide)
When you can get a mortgage during or after a consumer proposal in Canada: how long it stays on your credit report, the two-year re-established credit rule for insured mortgages, B lender and private options, and a step-by-step plan back to an A lender.
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