Gilkinson Financial


The Mortgage Centre

Lic. #11952

Mortgage

Your mortgage is likely the largest debt you’ll ever have in your life. When you agree to a mortgage, you’re signing a legal contract promising to repay the loan plus interest and other costs. Your home is collateral for that loan. The principal is simply the sum of money you borrowed to buy your home. To lower your principal amount upfront, you can put down a percentage of the home’s purchase price as a down payment.

In addition to your principal and interest, your mortgage payment will likely include taxes. The taxes are property taxes your community levies based on a percentage of the value of your home. Lenders won’t let you close the deal on your home purchase if you don’t have home insurance, which covers your home and your personal property against losses from fire, theft, bad weather and other causes.

IMPORTANT INFORMATION: New mortgage rules will ‘reduce the risk’ a housing crash poses to Canada’s economy


Check now how much the mortgage for your house would cost by using our Mortgage Calculator

Latest Mortgage News

2020-01-24 - WeWork Celebrates Launch of WeWork Hudson's Bay

2020-01-24 - The Home Buyers Plan will likely be less of a help than anticipated

2020-01-24 - Halifax rental housing availability veering towards historic lows

2020-01-24 - Vancouver's luxury recovery to be largely driven by domestic buyers

2020-01-24 - Pace of rental development not nearly fast enough to address demand

2020-01-23 - Financial vulnerabilities remain a key consideration for BoC

2020-01-23 - National inflation has held steady over the last two months

2020-01-23 - Toronto dynamism is boosting the Muskoka housing segment

2020-01-23 - Toronto luxury home tax might discourage wealthy, talented individuals

2020-01-22 - Bank of Canada announces interest rate decision

2020-01-22 - BC moves forward in the fight against money laundering

2020-01-22 - Top 75 Brokers 2020: Who are the new best in the business?

2020-01-22 - Montreal vis--vis Calgary shows the wide variance in Canadian markets

2020-01-22 - Investor-targeted rules helping improve Vancouver condo supply

2020-01-22 - 'Brain trust' to focus on Indigenous peoples' housing, social needs

2020-01-22 - Alberta hails property management firm for the second straight year

2020-01-21 - New report envisions a path for longer-term mortgages

2020-01-21 - Canada's luxury hotspots this year will be Montreal and Ottawa

2020-01-21 - Financial anxiety is apparent across all levels of Canadian society

2020-01-21 - Owen Sound, ON gets significant affordable housing boost

2020-01-20 - FCT joins Canada's leading digital identity service

2020-01-20 - Economists unanimously predict BoC rate hold this week

2020-01-20 - Development principles must adapt to a changing world, or wither

2020-01-20 - Largest markets have a disproportionate impact on home price average