Fixed vs. Variable

A fixed rate mortgage will maintain the same interest rate over the term of your mortgage.

Variable rate mortgages are tied to the prime lending rate set by the Bank of Canada. Plus or minus a specific amount by your lender.

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Pre-Payment Penalties

Many of us buying our first house have no intention of ever breaking our mortgage, but the truth is more than half of Canadians will up breaking their mortgage commitment.

This can lead to costly pre-payment penalties. Click the link below for more information.

HOw much does it cost to use a broker?

It's free. Mortgage Professionals are paid a commission from the lender.

Clients can use the services and advice of broker free of charge.

Do I need 20%down payment 

No, the minimum down payment amount is five percent. With five percent down, home-buyers will need to apply for Mortgage Default Insurance.

This insurance protects financial institutions in the event the borrower defaults on the mortgage.