Canadian Mortgage Loan FAQ

Answers to frequently asked questions regarding mortgage loan applications in Canada.

Mortgage FAQ

Answers to most common questions on mortgage loans.

Which mortgage companies' rates do you compare?

We compare both bank as well as broker rates. You will find rates for Butler Mortgage, True North Mortgage, RedPath Financial, Oriana Financial, TD, RBC, Scotiabank, BMO, CIBC, and National Bank.

I'm interested in a rate. How do I proceed?

If you're interested in a particular rate simply click on the "Get Rate" button beside it. You will then be promoted to fill out your contact information in order to be contact by the broker offering that specific rate.

How long is my rate valid for?

How long a rate is valid for varies across lenders. It can be anywhere from 30 to 120 days. If you are interested in a particular rate it is important that you speak to a mortgage broker. The broker can complete a mortgage pre-approval for you in order to secure the rate.

Can I be notified of future rates changes?

Certainly. Simply subscribe to our mortgages rate alert by clicking here and get automatically notified whenever the rate decreases on the mortgage product you're interested in.

What mortgage product is best for me?

Rates.ca is not a mortgage broker and therefore cannot advice you on your mortgage needs. If you are considering a specific rate simply fill out your contact information to be contacted by a licenced mortgage representative. He/she can advise you and help you choose a product which best meets your needs.

What is a mortgage broker?

A mortgage broker is an individual who sells mortgage products on behalf of mortgage lenders.

Latest home articles

Home Prices Rebound, Taking Mortgage Payments Higher

The government stress test was an epic change that created serious drag for the housing industry. That drag has dissipated ... Read more

Strong Job Gains Likely "Cements” BoC Rate Hold This Month

More Canadians found work in September…a lot more. So how might this positive economic data influence the Bank of Canada’s ... Read more

Alternative Mortgage Markups Get Fatter

Mortgage rates have become far more competitive compared to the start of the year. But not all mortgage rates.If you're ... Read more

Credit Life Insurance: Is it Worth It?

You’re a new homebuyer in the final stages of closing a mortgage. Suddenly the lender rep asks if you want ... Read more