Mortgage Guides

Find the answersyou're looking for.

Whether you're buying your first home, renewing your mortgage, refinancing, or simply exploring your options, these guides are designed to help you make informed decisions with confidence.

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Featured Mortgage Minute

First-Time Home Buyers

Do You Really Need a 20% Down Payment?

Many Canadians believe they need a 20% down payment before they can buy a home. Here's where that idea comes from, how down payment rules actually work, and why you may be closer to buying than you think.

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5 min read

Quick Answer

No. Many Canadians can buy a home with much less than a 20% down payment. While 20% is an important milestone, it isn't the minimum required for every purchase.

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Want to go deeper?

Each Mortgage Guide takes a closer look at one mortgage topic, with clear explanations and practical examples to help you understand what matters.

First-Time Home Buyers

Buying Your First Home

Understand down payments, qualification, closing costs, and what to expect throughout the buying process.

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Down Payments

Understanding Down Payments

Understand down payment requirements, gifted funds, and mortgage default insurance.

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Rates & Mortgage Types

Choosing a Mortgage Type

Compare fixed, variable, open, and closed mortgages with clearer explanations.

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Mortgage Renewals

Renewing Your Mortgage

Understand the renewal process and why reviewing your options before signing can matter.

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Mortgage Refinancing

Refinancing Your Mortgage

See how refinancing may help with equity access, payments, debt consolidation, or future plans.

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Mortgage Basics

Understanding Mortgages

Find clear explanations of the mortgage terms and concepts people encounter most often.

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Browse by Question

Find quick answers to common mortgage questions.

Every Mortgage Minute answers one common mortgage question in just a few minutes. Whether you're buying your first home, renewing, refinancing, or simply trying to understand your options, you'll find practical answers without the jargon.

Understanding Mortgages

Fixed vs. Variable Mortgage: What’s the Difference?

Compare how fixed and variable mortgage rates work, including payment stability, rate changes, penalties, and flexibility.

6 minute read

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Buying Your First Home

How Much House Can I Afford?

See how your income, debts, down payment, interest rate, property taxes, and other housing costs can affect how much mortgage you may qualify for.

6 minute read

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Buying Your First Home

What Is a Mortgage Pre-Approval?

Understand what a mortgage pre-approval tells you, what it doesn't guarantee, and why it's helpful before you start looking at homes.

5 minute read

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Buying Your First Home

What Is Mortgage Default Insurance?

Understand what mortgage default insurance is, when it's required, how it works, and why it isn't the same as mortgage life insurance.

4 minute read

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Buying Your First Home

How Much Money Do I Need to Buy a Home?

Buying a home involves more than the down payment. See which closing costs, legal fees, taxes, and other expenses are worth planning for.

5 minute read

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Buying Your First Home

Do You Really Need 20% Down to Buy a Home?

Find out when you can buy with less than 20% down and how minimum down-payment requirements work in Canada.

4 minute read

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