Ottawa Mortgage Guides and Blog
Plain-English guides for Ottawa homebuyers, homeowners and anyone renewing a mortgage. Each guide cites official sources and shows when it was last reviewed. Looking for something specific? Start with our first-time buyer guide, the mortgage rates guide or the mortgage FAQ.
Mortgage Broker Fees in Ontario: Who Pays?
How mortgage brokers are paid in Ontario, when borrowers pay fees, what disclosure rules require and questions to ask before you proceed.
Read the guide →Condo Mortgages in Ottawa: What to Know
What to know before financing a condo in Ottawa: how condo fees affect qualifying, the status certificate, reserve funds and buyer tips.
Read the guide →Getting a Mortgage as a Newcomer to Canada
How newcomers to Canada can get a mortgage: lender requirements, down payments, building credit and documents to prepare.
Read the guide →Mortgage Porting, Blending and Extending Explained
Moving during your mortgage term? Learn how porting, blend and extend and breaking your mortgage compare, and what to ask your lender.
Read the guide →HELOC vs Refinance vs Second Mortgage
Compare a HELOC, a mortgage refinance and a second mortgage: borrowing limits, rates, costs, risks and when each makes sense for Ontario homeowners.
Read the guide →25-Year vs 30-Year Mortgage Amortization in Canada
Compare 20, 25 and 30-year mortgage amortizations in Canada with a payment and interest example, eligibility rules and ways to pay down faster.
Read the guide →How to Improve Your Credit Score Before Applying for a Mortgage
A practical 90-day plan to raise your credit score before a Canadian mortgage application, plus what to avoid and how scores are calculated.
Read the guide →Getting a Mortgage With Bad Credit in Canada
Can you get a mortgage with bad credit in Canada? Learn about alternative lenders, down payments, costs and how to rebuild credit first.
Read the guide →Bridge Financing in Ontario: Buying Before You Sell
How bridge financing works in Ontario when you buy before your home sells: requirements, costs, alternatives and questions to ask a lender.
Read the guide →FHSA vs RRSP Home Buyers’ Plan: Which Should You Use?
Compare the First Home Savings Account and the RRSP Home Buyers' Plan: limits, tax treatment, repayment and how first-time buyers can use both.
Read the guide →CMHC Mortgage Insurance Premiums Explained
How much mortgage default insurance costs in Canada by down payment, a worked example, Ontario sales tax on the premium and how to reduce it.
Read the guide →Mortgage Prepayment Penalty Explained (3 Months Interest vs IRD)
How mortgage prepayment penalties work in Canada, with a three-month interest example, how IRD differs and ways to avoid or reduce it.
Read the guide →Closing Costs When Buying a Home in Ottawa
A checklist of closing costs for Ottawa buyers: Ontario land transfer tax, legal fees, title insurance, adjustments and how much to save.
Read the guide →How Much Down Payment Do You Need in Canada?
Minimum down payment rules in Canada: 5% on the first $500,000, 10% up to $1.5 million and 20% above. Examples and where the money can come from.
Read the guide →Mortgage Stress Test in Canada, Explained
What the Canadian mortgage stress test is, the qualifying rate rule (contract rate plus 2% or 5.25%), who must pass it and how to qualify.
Read the guide →Fixed vs Variable Mortgage in Ontario: Which Is Better?
Compare fixed and variable mortgage rates in Ontario: payments, penalties, trigger rates and how to choose for your budget and plans.
Read the guide →How Much Mortgage Can I Afford in Ottawa?
Learn how lenders calculate your maximum mortgage in Ottawa using GDS and TDS ratios and the stress test, with a worked example.
Read the guide →Ready to compare Ottawa mortgage options?
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