Mortgage basics
How to Get a Mortgage When You’re Self-Employed and Write Off Most of Your Income
You write off business expenses to save tax, which shrinks your declared personal income on paper. Banks see that number and say no, even though
Do You Have to Pass the Stress Test to Switch Lenders at Renewal?
When your mortgage renews, you are free to switch to any lender you want. The key question is whether the new lender puts you through
How Mortgage Penalty Calculations Work at Renewal in Canada
The biggest myth about mortgage penalties: you pay one at renewal. You don’t. When your mortgage reaches maturity, you can walk away, stay with your
What Happens If You Waive Your Financing Condition?
When you waive your financing condition, your offer to buy a home becomes firm and binding even if your mortgage falls through. You lose the
Do Mortgage Brokers Charge Fees in Canada?
For most residential mortgages in Canada, the borrower pays nothing to use a mortgage broker. The lender pays the broker a commission when the mortgage
How to Make Your Mortgage Tax-Deductible in Canada
In Canada, your home mortgage interest is not tax-deductible by default, but there are legal strategies that convert it into deductible interest. The core idea
Social Media
Recent
Subscribe To Our Weekly Newsletter
Categories
Most Popular Stories
Can You Get a Mortgage in Canada as a Permanent Resident with Foreign Income?
Yes. You can get a mortgage as a permanent resident with income earned outside Canada,
Gifted Down Payment Rules in Canada: What Lenders Actually Require
Yes, you can use a gift from an immediate family member for your down payment.
Should You Pay Down Your Mortgage or Invest Before Renewal?
Paying down your mortgage earns you a guaranteed result equal to your interest rate. Investing
Self-Employed With a Dropped Income: Can You Still Switch Lenders at Renewal?
Renewing with your current lender usually does not require you to prove your income again.