01 / Mortgage options
Fourteen different paths. One clear next step. Choose the situation that matches yours and see what I'll review first.
Rate Structure
There's no universal best rate structure. The right choice depends on your budget, your plans and your comfort with uncertainty.
Your interest rate stays the same for the full term — easier for anyone who wants predictable payments and budget certainty.
Your rate moves with the lender's prime rate. It can save you money if rates fall, but your payment — or how much goes to interest — may shift.
Payment Flexibility
A mortgage is usually either open or closed — it affects how much you can repay early without a penalty.
Full repayment at any time, no prepayment charge. Rates run a bit higher. Useful if you expect to sell, receive a payout, or repay quickly.
Usually a lower rate, with limits on extra payments. Most people choose closed terms because they plan to hold the mortgage for the full term.
04 / Prepare your file
A little preparation can make the mortgage process much smoother. Your exact checklist will depend on your file.
Government-issued photo ID.
Recent pay stubs, employment letter and T4s — or business financials if self-employed.
Proof of your down payment source: bank statements, a gift letter, or a sale agreement.
Current mortgage statement and renewal offer, for refinance or renewal files.
Property details — accepted offer, listing, appraisal, tax bill or lease, where applicable.
A debt list with balances and payout statements, for consolidation files.
The next chapter starts here
Bring your questions. We'll work through your options together, one clear step at a time.
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