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

2019-10-11 - Promises, promises: CEO warns election rhetoric could boost home prices

2019-10-11 - This is the largest driver of Canada's population growth

2019-10-10 - Improving housing affordability needs a multi-pronged approach

2019-10-10 - Montreal market remains abuzz with strong sales activity

2019-10-10 - PEI's residential assets are becoming even more valuable

2019-10-09 - SMART tech and smart design critical for OHBA award winner

2019-10-09 - Canadian mortgage debt growth continues unabated

2019-10-09 - Canadian housing starts have decelerated somewhat

2019-10-08 - New Discovery platform deemed the "match.com for mortgages"

2019-10-08 - Canada's condo markets intensify, outstripping the rest of NA

2019-10-08 - Commentary: Student housing is essentially ignored by most

2019-10-07 - Public vs private solutions take centre stage at National Housing Debate

2019-10-07 - More housing supply will ensure better affordability - IMF

2019-10-07 - Vancouver housing sales accelerate in September