Category: Mortgage Basics

An assumable mortgage may let you take over the seller’s loan, with lender approval. Check the funding gap, terms and seller release before you rely on it.

A cash-back mortgage may help with upfront costs. Compare the interest, permitted use and possible repayment if you leave early.

Every two weeks does not always mean the same annual cost. Compare regular and accelerated biweekly mortgage payments with a clear example.

Mortgage life insurance is optional. See who receives a claim, how it differs from default insurance, and five questions to ask before you agree.

Open or closed mortgage? Learn how repayment flexibility, prepayment charges and your timeline affect the choice before you sign.

Worried you may miss a mortgage payment? Learn when to call your lender, what relief to ask about and which costs to compare before agreeing.

Considering a co-signer or co-borrower for a Canadian mortgage? Learn about shared debt responsibility, title, missed payments and release options.

Changing jobs before closing a mortgage in Canada? Learn what to disclose, which documents a lender may request and why pre-approval is not final approval.

How much extra can you pay on a Canadian mortgage without a penalty? Compare lump sums, payment increases, annual limits and the contract details to check.

Understand mortgage term vs amortization in Canada, with a simple timeline and a 25-year vs 30-year payment example before you choose your mortgage.