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Mortgages

Our mortgage tools, calculators, tips and articles will help you navigate Canada’s housing market with ease.

Mortgage Calculator


Estimate your monthly mortgage payments, total interest costs and mortgage insurance fees.


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

Understanding mortgages
What Is a Mortgage?

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.

How Does a Mortgage Work in Canada?

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.

Types of Mortgages in Canada: Which Is Right for You?

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?

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.

Mortgage Affordability and how to apply
Calculator: How Much Mortgage Can You Afford?

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

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

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.

How To Get a Mortgage With Bad Credit

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.

Switch or Transfer Mortgages
Should You Switch to a Fixed Rate For the Rest of Your Mortgage Term?

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 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.

Mortgage Renewal or Refinance
Guide to Refinancing a Mortgage in Canada

Guide to Refinancing a Mortgage in Canada

Refinancing a mortgage means breaking and renegotiating your mortgage contract. Refinancing can lead to lower costs and increased cash flow.

Preparing for a 2024 Mortgage Renewal

Preparing for a 2024 Mortgage Renewal

If your mortgage renews in the coming months, it’s going to sting. Prepare by shopping around and understanding your options.

Mortgage Renewal Guide: How To Save Money On Your Mortgage’s Next Term

Mortgage Renewal Guide: How To Save Money On Your Mortgage’s Next Term

Mortgage renewal is an opportunity at the end of a mortgage term to negotiate the conditions of your contract, such as the interest rate, payment schedule and more.

3 Ways to Take on a Budget-Busting Mortgage Renewal

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 Buyers Programs
First-Time Home Buyer Guide: Strategies to Get You That First Property

First-Time Home Buyer Guide: Strategies to Get You That First Property

First-time home buyers in Canada can use a combination of incentive programs, tax breaks and careful planning to afford their first property.

First-Time Home Buyer Grants and Assistance Programs

First-Time Home Buyer Grants and Assistance Programs

Various Canadian grants and assistance programs provide financial incentives that can make it easier and more affordable to buy your first house.

How to Use First-Time Home Buyer Plans Twice in Canada

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

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 Mortgage Or HELOC
Reverse Mortgage Guide: Is It Right For You?

Reverse Mortgage Guide: Is It Right For You?

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.

Home Equity Line of Credit (HELOC): What It Is and How It Works

Home Equity Line of Credit (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

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.

HELOC vs Personal Loan: How to Choose

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.

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