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On closing day in Canada, you meet your lawyer or notary to sign mortgage and ownership documents. You must provide proof of home insurance naming your lender before mortgage funds are released. Your first mortgage payment is usually due about one month after closing, with possible interest adjustments. Final closing costs include legal fees, land…

In 2025, stronger credit profiles support a more stable housing market compared to the 2000s. Buyers with higher credit scores access lower rates, more loan choices, and smoother approval processes. Today’s buyers are generally more financially qualified, raising competition and reinforcing market resilience. Good credit can save thousands annually by unlocking better mortgage terms amid…

Co-signers are fully responsible for the mortgage if the main borrower can’t make payments. Co-signing affects your own credit and reduces your ability to borrow for future loans. Removing your name later isn’t automatic; the borrower must fully re-qualify at renewal time. Tax and legal consequences may apply, including capital gains and loss of first-time…

Mortgage pre-approval lets buyers know how much they can afford before beginning their Real Estate search. It helps narrow your property search to homes that match your approved mortgage budget. Sellers prefer pre-approved buyers, especially in competitive Real Estate markets with multiple offers. Pre-approval secures an interest rate for up to 120 days, shielding buyers…

Bank of Canada held its overnight rate at 2.75% on June 4, 2025. TD Economics forecasts two more rate cuts in 2025.

Specialised lenders in Ontario offer bad credit Real Estate mortgages with more flexible approval requirements. A larger down payment helps reduce lender risk and improves approval chances for Ontario homebuyers. Stable income and job history show reliability, boosting mortgage eligibility despite poor credit. Ontario government programs assist first-time buyers with bad credit through incentives and…

60% of Canadian mortgages will renew in 2025–2026, with five-year fixed borrowers facing ↑ 15–20% payment increases. ~25% of borrowers could see payments drop, especially those with variable-rate, variable-payment mortgages. 10% of fixed-payment variable-rate borrowers may face payment spikes over ↑ 40% due to negative amortization. Median mortgage debt service ratios will rise from 15.3%…