Mortgage guides
Short, accurate explanations of how Canadian mortgages work, each with worked examples and a calculator to try your own numbers.
Basics
Accelerated Biweekly vs Monthly Mortgage Payments in Canada
How accelerated biweekly payments work, how they differ from regular biweekly, and how much interest and time they save on a Canadian mortgage.
Updated November 1, 2026 · 2 min readGDS and TDS Ratios: How Lenders Decide What You Can Afford
What gross debt service (GDS) and total debt service (TDS) ratios are, the 39% and 44% CMHC limits, what counts, and a worked example.
Updated November 1, 2026 · 2 min readHow Canadian Mortgage Interest Is Calculated (Semi-Annual Compounding)
Why Canadian fixed-rate mortgages compound semi-annually, how to convert the posted rate to a monthly rate, and why US calculators overstate your payment.
Updated November 1, 2026 · 2 min readBuying
Closing Costs in Canada: What to Budget Beyond the Down Payment
Every closing cost when buying a home in Canada: land transfer tax, CMHC premium sales tax, legal fees, inspection, title insurance and adjustments, with examples by province.
Updated November 1, 2026 · 2 min readCMHC Mortgage Insurance Explained (2026 Premiums)
When you need CMHC insurance, the 2026 premium rates, how the premium is added to your mortgage, provincial sales tax on it, and how to avoid it.
Updated November 1, 2026 · 2 min readFirst-Time Home Buyer Programs in Canada (2026 Checklist)
Every major first-time buyer benefit in Canada for 2026: FHSA, RRSP Home Buyers' Plan, 30-year amortization, land transfer tax rebates in Ontario, Toronto and B.C., and the home buyers' tax credit.
Updated November 1, 2026 · 2 min readMinimum Down Payment in Canada (2026 Rules)
The minimum down payment for any home price in Canada, with examples, the $1.5 million insured cap, and where your down payment can come from.
Updated November 1, 2026 · 2 min readThe Canadian Mortgage Stress Test Explained (2026)
How the OSFI stress test works in 2026, how it limits what you can borrow, when it applies at renewal, and practical ways to pass it.
Updated November 1, 2026 · 2 min readOwning
Fixed vs Variable Mortgage in Canada: How to Choose
The real differences between fixed and variable mortgages in Canada: payment certainty, penalties, adjustable vs static payments, and who each suits.
Updated November 1, 2026 · 2 min readMortgage Prepayment Penalties in Canada: IRD vs Three Months' Interest
How Canadian lenders calculate the penalty for breaking a mortgage, why IRD can be so large on fixed rates, and how to reduce or avoid it.
Updated November 1, 2026 · 2 min readMortgage Renewal in Canada: A 2026 Guide to Getting a Better Rate
What happens when your mortgage term ends, how much your payment may rise, when to start shopping, switching lenders without the stress test, and a renewal checklist.
Updated November 1, 2026 · 2 min read