Canadian Mortgage Knowledge Centre

Refinance & Home Equity

Whether it be a relatively straight forward mortgage refinance of your existing mortgage balance, or utilizing your Home Equity for any other purpose desired, is a strategic financial decision that requires the assistance of a mortgage solutions expert like our mortgage brokers and agents to get you the best deal from the hundreds of mortgage and lending options available.

Interest Only Mortgage Comparison

With the many mortgage options that are available today it pays to look at different mortgage solution scenarios. While interest rate and size of payments are important for your mortgage, you must also consider your lifestyle, where you are currently in your life, and the amount of risk that you are willing to undertake.

Mortgage Costs to Consider

Buying a home costs more than the offer you make. There are numerous other expenses that can or may not be associated with your mortgage that will add to the amount that you'll need to spend. This purchase price checklist outlines all the costs you can expect. Please note that they can vary by province and are subject to change.

What is Mortgage Insurance?

Mortgage Insurance is an insurance that protects the mortgage lenders in case there is a default in mortgage from the mortgagor. In Canada, the lenders are willing to make mortgage loans with a down payment smaller than 20% or in other words one has to get mortgage insurance if one is taking a mortgage loan of greater than 80% of the property value.

What is Credit Reporting?

Many people don't realize how important it is to maintain a good Canadian credit rating. Nor do they understand what is involved in achieving this. This fact sheet is designed to help the individual to learn credit basics and how to attain and maintain a good credit score.

Commercial Mortgage Financing in Canada

Find some of the kinds of Canadian commercial mortgage financing we do. To arrange commercial mortgages or financing, simply contact us and we will be in touch with you within 24 hours.

Mortgage Renewals in Canada

When renewing your mortgage, it is likely that your current mortgage lending institution will offer you a mortgage lending rate that is not the best one available in the Canadian mortgage lending marketplace. You are in a strong bargaining position, and by joining forces with Ask a Mortgage Pro you can obtain a mortgage rate and review our mortgage products and solutions with one of our select mortgage broker or agent professionals that will suit you and your situation when it comes time to renewing your mortgage.

Switching your Mortgage in Canada

Most people are unaware of the legal effect of switching mortgage lenders. When you renew a mortgage you are essentially starting the process again - discharging the existing mortgage, taking out a new one, and beginning the whole payment process, albeit at a lower principal amount.

As such, you should treat this as just as important a process as the first time you arranged your mortgage. Remember your situation will most likely have changed since then, and you will require a different mortgage product with different terms attached to suit your situation. Contact one our mortgage broker or agent professionals to speak with you about the dynamics of switching mortgage lenders.

Canadian Mortgage Glossary

We have put together some basic information on mortgage terminology, mortgage costs and some mortgage tips on how to make an informed decision on your mortgage needs. While this is not an all-inclusive list, we hope it will help you find the right mortgage for your needs.If you have questions; we have the answers. Contact one of our mortgage broker or agent specialists to speak with you regarding any facet of the stages of home ownership, mortage lending, interest rates for mortgages from our range of mortgage products and services we have at Ask A Mortgage Pro.