Mortgage guides
The rules that actually decide what your mortgage costs — the stress test, prepayment penalties, switches, down payments — explained properly, with the dates and figures that apply in 2026.
- Written for Ontario, current as of October 2026
- Sourced from OSFI, CMHC, FCAC and the Canada Gazette
- No rate predictions and nothing dressed up as advice it isn't
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All guides
What it costs to break a mortgage in Ontario — and how the IRD penalty is calculated
The penalty is usually the higher of three months' interest or the interest rate differential. The second one is where the money is, and where two lenders quoting the same scenario can be th
Can I switch lenders if my mortgage is a collateral charge?
Yes. Almost nothing you will read online says it plainly, so here it is: a collateral charge makes switching more expensive and more administrative, not impossible. This guide explains the m
Minimum down payment in Ontario: worked out for Toronto prices
The tiered calculation, done properly for a $700,000, $900,000, $1,200,000 and $1,500,000 purchase — plus what the insurance premium adds, the cash the premium forces you to find at closing,
Fixed vs variable mortgage in Canada, 2026: a decision framework, not a forecast
I am not going to tell you where rates are going, because I do not know and neither does anyone selling you a prediction. What I can tell you is how the two products differ structurally — in
The mortgage stress test in Ontario, 2026: what it is, and when it does not apply
A plain explanation of the minimum qualifying rate, the straight-switch exemption that most borrowers have never been told about, and the loan-to-income rule people keep misreading.
Refinancing to build a basement apartment or garden suite in Toronto
There is an insured refinance programme that goes to 90% of the as-improved value specifically to build a secondary suite. It is genuinely useful, and it has one restriction that disqualifie
Mortgage switch vs refinance: which is cheaper, and which one do you actually need?
A switch moves the same mortgage to a new lender. A refinance tears it up and writes a new one. The cost difference is large, the qualifying difference is larger, and the words are used inte
Still not sure how it applies to you?
The rules are general; your file is specific. One conversation usually settles it.
Aleksey Tsoy · Mortgage Agent (Level 1) · Licence #M20001520 · Centum Financial Services LP · Brokerage Licence #13054