One application. Any kind of lender. We'll handle it.

Mortgages for any purpose

When you buy

• Buying a home →

  We compare mortgages for Ontario homes from banks, credit unions and monoline lenders and explain what you will pay. We stay with your application until the lender sends the funds to your lawyer.

• Pre-approval →

  A pre-approval tells you how much a lender is likely to lend, and many lenders will hold a rate for a set period while you shop. We prepare the pre-approval with you for your Ontario purchase and explain its conditions in plain English.

When your mortgage term ends

• Renewal & switch →

  At the end of your term in Ontario you can renew with your lender, or move the mortgage to another lender without a prepayment penalty. We compare renewing with switching and explain what each would cost you.

When you borrow against your home

• Refinancing →

  Refinancing replaces your mortgage with a new, larger one so you can renovate, consolidate debt or fund a big expense in Ontario. We show you what it costs, including any penalty for breaking your current term.

• Debt consolidation →

  If you own your home in Ontario, consolidating credit cards, loans and lines of credit into your mortgage can cut your monthly payments. We show what it saves now and what it costs over time.

• Second mortgage & HELOC →

  If your current mortgage has a good rate or a large penalty to break, you may not want to replace it. A home equity line of credit (HELOC) or a second mortgage lets you borrow against your Ontario home and leave the first mortgage alone.

When your situation is complex

• Self-employed →

  Ontario business owners and contractors often earn well but show less on paper after write-offs. Lenders read that lower paper income differently, and we know what each lender will ask for.

• Credit-challenged →

  Banks and monoline lenders in Ontario look closely at credit history. If your credit history has a mark on it, alternative ("B") lenders may still lend, usually at a higher cost and for a short term, with a plan to move back to a bank lender.

• Rental & investment →

  Banks, credit unions and monoline lenders finance rental properties in Ontario. The rules differ from buying a home to live in: a larger down payment, and rules for how much of the rent counts.

Questions borrowers ask us most

• How much of a down payment do I need in Ontario?5% of the first $500,000, 10% of the part from $500,000 to $1.5 million, and 20% at $1.5 million or more. Under 20% down, you pay for mortgage insurance.
• What is the mortgage stress test?Banks qualify you at the greater of your contract rate plus 2% or 5.25%, to check you could afford higher rates. It limits how much you can borrow.
• What is the difference between a mortgage pre-approval and a pre-qualification?A pre-qualification is a quick estimate from what you tell a lender; a pre-approval means a lender has checked your credit and documents. Neither is final.
• How much equity can I take out of my home?With a federally regulated lender, a refinance can go up to 80% of your home's appraised value, minus what you owe, if you qualify for the payment.
• Refinance, HELOC or second mortgage: which should I choose?A refinance replaces your mortgage, a HELOC is a revolving line on your home, and a second mortgage sits behind your first. Cost and flexibility differ.
• When can I switch lenders at renewal?At the end of your term you can move to another lender without a prepayment penalty. Many borrowers start comparing months before the renewal letter.

All questions