1. Home
  2. Mortgages


Our guides, tips and articles will help you navigate Canada's housing market with ease.

Canada's best mortgage rates

Browse customized options from Canada’s top lenders and brokers in minutes and easily select the best mortgage rate for your needs.

The basics

What Is Home Equity?

Home equity is the market value of your house minus what you owe on your mortgage. You can leverage it for loans by tapping into a portion.

How Does a Mortgage Work in Canada?

A mortgage is a loan that’s specifically used to purchase a home that is paid over many years. There are different types and interest rates.

Steps to Take Before Buying a House in Canada

If you’re thinking about buying a house, take these steps before you start your search — from a down payment to securing a mortgage.

Should You Rent or Buy?

Buying a home means control and the ability to build equity. Renting is flexible and might be cheaper. What's better depends on your goals.
Help for first-time home buyers

First-Time Home Buyer Guide

Ready to buy a home? See if you qualify as a first-time home buyer, find government help and get tips for choosing the right mortgage.

Guide to Canada’s RRSP Home Buyers’ Plan: How it Works, Who Can Use it

Canada’s Home Buyers’ Plan lets first-time home buyers withdraw from their RRSP to bolster their down payment on a home.

What is the First-Time Home Buyer Incentive?

The First-Time Home Buyer Incentive is a shared-equity program that lends buyers 5% or 10% of a home's price to bolster their downpayment.
Know your options

How to Choose Between Fixed and Variable-Rate Mortgages

A fixed-rate mortgage: the interest rate stays the same for the full term. A variable-rate mortgage: the rate and your payments can change.

Understanding Open and Closed Mortgages

Open mortgages are flexible and can be paid off and refinanced easily. Closed mortgages have strict terms but come with lower rates.

What to Know About Mortgage Pre-Approval

Mortgage pre-approval is a lender offer to loan you a certain amount under specific terms, with your interest rate locked in for 90-130 days.

Amortization Period Vs. Mortgage Term

An amortization period is the time it takes to repay a loan, such as 25 years. A mortgage term is a lender contract, typically five years.

Ready to buy a house?

Buying a home will likely be the largest purchase of your life, so make sure you know what affects housing affordability.

Managing your mortgage

How to Renew Your Mortgage

Mortgage renewal is a chance to negotiate the your contract at the end of a mortgage term. You can renew with the same or a new lender.

What Happens If You Break Your Mortgage Contract?

You will face a penalty for breaking your mortgage contract if you refinance before your term ends. The potential benefit may be worthwhile.

How Porting or Transferring Your Mortgage Works

Porting a mortgage means you are transferring your existing mortgage to a different property when you sell one home and buy another.
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