Mortgages
Mortgage Calculator
Estimate your monthly mortgage payments, total interest costs and mortgage insurance fees.
How much house can I afford?
See how your interest rate, down payment and debt ratios affect your housing budget.
What’s the best mortgage rate for me?
Shop customized mortgage rates from Canada’s best lenders and brokers for free – all in one place.
Am I ready to close on a property?
Estimate your closing costs — the one-time, upfront expenses you’ll pay before receiving the keys.
NerdWallet Mortgage Lenders Reviews
Shopping for a mortgage? We’ve reviewed Big Banks, brokers, B Lenders and online-only lenders to help you finance your home purchase, refinance or renewal with confidence.
Mortgage guide
What Is a Mortgage?
Mortgages are loans used to buy a house or other property. Mortgages require you to make monthly principal and interest payments over a period of several years.
Kurt Woock
Clay Jarvis
How Does a Mortgage Work in Canada?
A mortgage is a loan to buy a home. Once it’s paid off, you own the home free and clear.
Different Types of Mortgages in Canada: Which Is Right for You?
There are many types of mortgages in Canada. Common home loan options, like, closed and conventional are just the beginning.
What Is a Halal Mortgage?
Halal mortgages allow Muslims to finance home purchases while staying within the guidelines of their faith, which prohibits the payment of interest.
Nora Dunn
Calculator: How Much Mortgage Can You Afford?
Use our mortgage affordability calculator to see how your interest rate, down payment and debt ratios affect your housing budget.
4 Paths to a More Affordable Mortgage Payment
If your variable-rate mortgage payments are becoming too high to manage, options like payment deferrals and reamortizing can help keep you on track.
How to Apply for a Mortgage in Canada
Applying for a mortgage is a multi-step process that includes getting your credit in order, deciding on a home buying budget and getting pre-approved.
Hannah Logan
How To Get a Mortgage With Bad Credit
Having bad credit won’t necessarily disqualify you from getting a mortgage. Options exist — but they could be more expensive.
Should You Switch to a Fixed Rate For the Rest of Your Mortgage Term?
Switching your mortgage from a variable to a fixed interest rate can help make your mortgage more affordable if rates are rising.
Porting or Transferring a Mortgage
Porting a mortgage applies an existing mortgage contract to a new home purchase. Porting can be less expensive than breaking a mortgage.
Barry Choi
Refinancing a Mortgage in Canada
A mortgage refinance can help you tap into home equity and secure better mortgage terms. Find out how — and when — to do it.
Preparing For Mortgage Renewal Shock
If your mortgage renews in the coming months, it’s going to sting. Prepare for renewal shock by shopping around and understanding your options.
How Mortgage Renewal Works In Canada
You’ll likely go through the mortgage renewal process several times before you pay off your mortgage in full. Here’s how to renew a mortgage, including tips for keeping down costs and finding the best deal.
3 Ways to Take on a Budget-Busting Mortgage Renewal
With interest rates still high, renewing your mortgage probably won’t be the best part of your 2024. If you’re worried about the impending cost of your home loan, keep these strategies in mind.
First-Time Home Buyer In Canada? Here’s What You Need To Know
A little knowledge about the housing market, mortgages and incentive programs can help you afford your first home.
First-Time Home Buyer Grants and Assistance Programs
Various grants and assistance programs in Canada can make it easier and more affordable to buy your first home.
How to Use First-Time Home Buyer Plans Twice in Canada
Some federal housing programs will consider you a first-time home buyer twice — or more — if you don’t own a home for four or more years.
12 Essential Tips for First-Time Home Buyers
Saving the right down payment, preparing for the mortgage stress test and looking for assistance programs are tips first-time home buyers can use to reduce stress and save money.
Reverse Mortgages
Homeowners age 55 and older can use a reverse mortgage to receive up to 55% of the current value of their primary residence in cash without selling or refinancing.
HELOC: What It Is and How It Works
A home equity line of credit, or HELOC, allows you to borrow money using your home equity as collateral. HELOC’s are variable rate loans with interest-only payments.
Personal Line of Credit vs Home Equity Loan: How to Choose
A personal line of credit is a type of revolving credit that works similarly to a credit card, and a home equity loan is a lump-sum loan for homeowners.
Sandra MacGregor
HELOC vs Personal Loan: How to Choose
A HELOC is a type of revolving credit available to homeowners with ample equity, while a personal loan is a fixed-sum financing option available to all qualified borrowers.
Helen Burnett-Nichols
Deborah Kearns
Janine DeVault