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

2019-04-18 - Inflation and affordability clash in Vancouver

2019-04-18 - Mortgage borrowing costs swell amid inflation pressures

2019-04-17 - Critical vote could decide fate of Toronto's construction industry

2019-04-17 - Negative impact of B-20 massively apparent in residential mortgages

2019-04-17 - Vancouver's spate of new rules discouraging foreign investors

2019-04-17 - B.C. multi-family market continues magnetizing investment

2019-04-17 - Rent growth has moderated for GTA rental apartment investors

2019-04-17 - Spring market unlikely to snap the slump says RBC

2019-04-17 - Mortgage stress test has caused "near recession" housing demand

2019-04-17 - Luxury homeowners renting to avoid Vancouver's EHT

2019-04-16 - Home sales remain in a "holding pattern" says CREA

2019-04-16 - Fintech announces acquisition to further digital mortgage, banking

2019-04-16 - Quebec bucks the trend with strong first quarter sales

2019-04-16 - Household lending conditions largely unchanged says BoC

2019-04-15 - Recommendations to fight money laundering tendered to government

2019-04-15 - New condo tower to dominate Vaughan, ON skyline

2019-04-14 - Cannabis revives struggling markets

2019-04-14 - More condo towers to arise in Toronto luxury complex soon