One of the most common questions I hear from Ontario homebuyers is a simple one: my salary is $70,000 — how much mortgage can I actually get? The answer is not one number. It depends on how lenders measure your income, the ratio tests they apply, and the rate they use to qualify you. I

Shopping for a home or refinancing in Ontario usually starts with one question: what will this actually cost me every month? If you are looking at a $400,000 mortgage with a 7% interest rate, this guide gives you the exact monthly payment, shows how it changes with different amortizations and rates, and lays out the

The Mortgage Renewal Process in Ontario: A Step-by-Step Guide (2026) If your mortgage term is ending soon, you are about to get a rare opportunity: a penalty-free chance to renegotiate your rate, change your terms, or move your mortgage to a different lender. The mortgage renewal process in Ontario usually starts about four months before

If you own a home in Ontario and you are 55 or older, you have probably seen ads for a reverse mortgage: tax-free cash with no monthly payments. It sounds almost too good to be true, so here is the direct answer to how it works, what it costs, and when it is a bad

What Is a Private Second Mortgage? A private second mortgage is a loan secured against your home that sits behind your existing first mortgage. “Private” means the money comes from a private lender — an individual investor, a mortgage investment corporation (MIC), or a private lending company — rather than a bank. “Second” refers to

If you’re buying a clinic, a plaza, or an investment property in Ontario, one of the first questions you’ll ask is: what commercial mortgage rate should I expect? The honest answer is that commercial mortgage rates in Ontario are not published on neat rate sheets the way residential rates are. Every commercial deal is priced

Private Mortgage Lender vs Bank: Which Is Right for You in Ontario? (2026) If a bank has turned you down for a mortgage — or you are wondering whether a bank is even the right place to start — you have probably asked yourself: should I work with a private mortgage lender instead of a

How to Get a Mortgage With Bad Credit in Ontario: A Practical Guide Can you get a mortgage in Ontario with bad credit? Yes — but probably not the way you first imagined. A bruised credit score closes the door at most banks, yet B lenders and private lenders approve borrowers with imperfect credit every

Last updated: September 2026 TL;DR: If your down payment is less than 20% of the home’s price, Canadian rules require mortgage default insurance. The minimum down payment is 5% on the first $500,000 of the purchase price, then 10% on the portion between $500,000 and $1.5 million, and 20% above that. The insurance protects the

Last updated: September 2026 TL;DR: Your down payment is not the only cheque you write when you buy a home in Ontario. Closing costs — things like land transfer tax, legal fees, title insurance, and property tax adjustments — are usually paid on closing day on top of your purchase price. Most buyers should budget