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

2019-02-14 - Guidelines for same day mortgage funding commitment

2019-02-14 - Declining home prices in the West pushes national average down

2019-02-14 - Non-individuals own less than 10% of residential properties in three provinces

2019-02-14 - One in five young families prioritize saving for a home over retirement

2019-02-14 - Bank of mom and dad plays paltry role: report

2019-02-14 - Non-individual ownership incidence highest in B.C. - report

2019-02-13 - Strong cash flow potential in year-round resort properties

2019-02-13 - Melding mortgage brokers and technology is the way forward

2019-02-13 - Federal gov't to boost investment on low-cost housing in Vancouver

2019-02-12 - B.C. money laundering issue intimately tied to the fentanyl crisis

2019-02-12 - Ontario credit union to open digital banking arm

2019-02-11 - TREB joins chorus demanding B-20 repeal

2019-02-11 - Economists are wondering if B-20's strictness still makes sense

2019-02-11 - Development approval timelines affecting Vancouver supply

2019-02-11 - Regina continues to be a buyer's market