Mortgages
Mortgage Calculator
Estimate your monthly mortgage payments, total interest costs and mortgage insurance fees.
How much house can I afford?
See how your interest rate, down payment and debt ratios affect your housing budget.
What’s the best mortgage rate for me?
Shop customized mortgage rates from Canada’s best lenders and brokers for free – all in one place.
Am I ready to close on a property?
Estimate your closing costs — the one-time, upfront expenses you’ll pay before receiving the keys.
NerdWallet Mortgage Lenders Reviews
Shopping for a mortgage? We’ve reviewed Big Banks, brokers, B Lenders and online-only lenders to help you finance your home purchase, refinance or renewal with confidence.
Mortgage guide
What Is a Mortgage?
Mortgages are loans used to buy a house or other property. Mortgages require you to make monthly principal and interest payments over a period of several years.
How Does a Mortgage Work in Canada?
A mortgage is a loan to buy a home. Once it’s paid off, you own the home free and clear.
Types of Mortgages in Canada: Which Is Right for You?
There are many types of mortgages in Canada. Common home loan options, like, closed and conventional are just the beginning.
What Is a Halal Mortgage?
Halal mortgages allow Muslims to finance home purchases while staying within the guidelines of their faith, which prohibits the payment of interest.
Mortgage Affordability Calculator: How Much Mortgage Can I Afford?
Knowing how much house you can afford sets realistic home buying expectations — and can show you where your finances might need a little help.
4 Paths to a More Affordable Mortgage Payment
If your variable-rate mortgage payments are becoming too high to manage, options like payment deferrals and reamortizing can help keep you on track.
How To Get a Mortgage With Bad Credit
Having bad credit won’t necessarily disqualify you from getting a mortgage. Options exist — but they could be more expensive.
Should You Switch to a Fixed Rate For the Rest of Your Mortgage Term?
Switching your mortgage from a variable to a fixed interest rate can help make your mortgage more affordable if rates are rising.
Porting or Transferring a Mortgage
Porting a mortgage applies an existing mortgage contract to a new home purchase. Porting can be less expensive than breaking a mortgage.
Guide to Refinancing a Mortgage in Canada
Refinancing a mortgage means breaking and renegotiating your mortgage contract. Refinancing can lead to lower costs and increased cash flow.
5 Things to Know if Your Mortgage Renews in 2023
Mortgage rates are up, trigger rates are looming, and many Canadians could be in for a shock when it’s time to renew their home loan.
Mortgage Renewal Guide: How To Save Money On Your Mortgage’s Next Term
Mortgage renewal is an opportunity at the end of a mortgage term to negotiate the conditions of your contract, such as the interest rate, payment schedule and more.
3 Ways to Take on a Budget-Busting Mortgage Renewal
With interest rates still high, renewing your mortgage in 2023 probably won’t be the best part of your year. If you’re worried about the impending cost of your home loan, keep these options in mind.
First-Time Home Buyer Grants and Assistance Programs
Various Canadian grants and assistance programs provide financial incentives that can make it easier and more affordable to buy your first house.
Reverse Mortgage Guide: Is It Right For You?
Homeowners age 55 and older can use a reverse mortgage to receive up to 55% of the current value of their primary residence in cash without selling or refinancing.
Home Equity Line of Credit (HELOC): What It Is and How It Works
A home equity line of credit, or HELOC, allows you to borrow money using your home equity as collateral. HELOC’s are variable rate loans with interest-only payments.
Personal Line of Credit vs Home Equity Loan: How to Choose
A personal line of credit is a type of revolving credit that works similarly to a credit card, and a home equity loan is a lump-sum loan for homeowners.
HELOC vs Personal Loan: How to Choose
A HELOC is a type of revolving credit available to homeowners with ample equity, while a personal loan is a fixed-sum financing option available to all qualified borrowers.