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

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2019-01-22 - B.C.'s affordability problems are impelling brain drain

2019-01-22 - Beware of predatory lender

2019-01-21 - Fiscal unease is Canadian households' major burden in 2019

2019-01-21 - Improved economy a boon for the Edmonton commercial market

2019-01-20 - Looking for a deal? Now's the time!

2019-01-20 - RBC lowers fixed-term mortgage rate

2019-01-20 - Is your company one of the best places to work?

2019-01-20 - B.C. gives deadline to apply for exemption from speculation tax

2019-01-20 - Ontario listing services merge MLS systems

2019-01-17 - CMAs touted as boost to business

2019-01-17 - Home sales in Hamilton-Burlington dropped in 2018

2019-01-17 - Governments of Canada and PEI sign 10-year housing agreement

2019-01-16 - PCs say growth plan update will create more housing

2019-01-16 - Over 1/4 of Canadians with HELOCs are paying just for interest

2019-01-16 - Victoria stands tall as one of B.C.'s most valuable markets

2019-01-15 - Transactions hit 18-year low

2019-01-15 - RBC CEO vows improved performance on its mortgage side

2019-01-15 - Ottawa housing exhibited a remarkable 2018 - study

2019-01-15 - Q4 2018 Calgary prices showed modest growth