Is it true a lender charges more mortgage interest in the beginning?

Yes, but not because of the lender, but because your balance owing is largest in the beginning. Each and every mortgage payment is based on the current balance, rate and amortization. So every payment you make, a little more goes to your principal next payment.

So which is better for the mortgage consumer, accelerated WEEKLY or BIWEEKLY payments?

Accelerated Weekly, but by very little.

How do Mortgage Rates come to be? Fixed vs Variable.

Variable Rates Follow the lenders Prime Rate. The lender prime rate comes from the Bank of Canada's overnight lending rate. Currently, June 15/22, the overnight lending rate is 1.50% and the Prime lending rate is 3.70% (at 99% of lenders in Canada). One major bank charges more than any other Canadian Mortgage Co/bank as of today. Fixed Rates Follow the Canadian Bond Market. The bond market is impacted by growth and inflation.

What happens after I submit a mortgage application?

We'll be in touch within 24 hours. You will then be provided a secured link to load any required documents.

What if I don't qualify for a mortgage right now?

Then we make a plan to get you there. Buying a home is a major milestone, and it's completely normal to need time to prepare.

Is my application information secure?

Yes, all of your data is encrypted and securely stored on Canadian servers through TMG. We also operate a 100% paperless office, BitDefender is on all electronics including VPN. Your privacy is extremely important to us.

Will I receive a written pre-approval?

Yes! You will be emailed a personalized pre-approval package outlining everything you need to know at this stage.

Mortgage Products and Rates

How do I choose the best term and product for me?

My advice, and it is in this order...

1) Timeline. Always line the money up to the goal. If you know you are moving in 2years, don’t take a 5yr fixed and hope it works out. Fixed penalties can be substantial. Line the money to the goal.

2) Product. Are you more comfortable in a fixed mortgage or the variable? Both have perks and both have interest rate risk. Chart below.

3) Rate. That’s right, it’s at the bottom. Why? The rate won’t matter if you are in a product you can’t sleep in. The rate won’t matter if you end up hitting a $20,000 penalty for breaking your mortgage.

At the end of the day NO ONE knows what rates will do, the market is constantly changing. The only thing you can do is make the best decision for yourself, at the time you need to make it.

Why mortgage advisors don't like posting rates...

Until your mortgage application is reviewed, it’s difficult to provide accurate rates. Rates depend on several factors, including:

Mortgage type & program
Live deal vs. rate hold
Credit score
Down payment amount
Time to possession

Rates also change frequently, sometimes daily. Posting rates without context can be misleading, which is why mortgage advisors prefer to provide personalized quotes based on your unique situation.

I look forward to providing you with personalized rates and guiding you through the best mortgage options available. Let’s find the right fit for you!

Happy excited millennial latina woman buying modern studio apartment first time look at ca

Yes—but not because the lender is taking more from you. It happens because of how mortgage payments work.

💡 Why Does More of My Payment Go to Interest at First?

Your mortgage payment is based on your current balance, interest rate, and amortization period.
At the start of your mortgage, your balance is at its highest—so interest makes up a bigger portion of the payment.
With every payment you make, your balance shrinks—so the next payment has slightly less interest and more principal going toward your home.

The good news? 📉 Over time, more of your payment goes toward principal, building your equity faster!

🚀 Tip: If you can make extra payments (even small ones), you can reduce your balance faster and pay less interest overall.

I get this question A LOT—hope this makes sense! 😊

🔹 Short answer: Accelerated Weekly is better—but only slightly.

🔹 Example: On a $300,000 mortgage (25-year amortization, 1.7% rate), the difference in interest savings over 5 years between accelerated weekly vs. biweekly payments is just $14.

Why?

Both options help you pay off your mortgage faster by making the equivalent of one extra monthly payment per year.
Weekly payments result in slightly lower interest costs because you’re making payments more frequently, which reduces the outstanding balance slightly faster.

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Mortgage Products and Rates

How do I choose the best term and product for me?

Is the mortgage rate higher with a 20% down payment?

Does the Lender Charge More Interest at the Beginning of My Mortgage?

Which is Better: Accelerated Weekly or Biweekly Payments?

What Is The Difference Between A Fixed Or Variable Mortgage?

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