Compare different mortgage types to find what works best for your situation
This is the most popular choice for Canadian homebuyers, especially first-timers. It offers stability and predictability for your budgeting.
Fixed interest rate means steady monthly payments for your entire term, making budgeting easier.
Typically offers lower interest rates compared to open mortgage options.
Fixed interest rate means steady monthly payments for your entire term, making budgeting easier.
Rate changes with the market. Payments may go up or down.
Cons: Less predictable
Pros: Can save money if rates drop
You can pay off early without penalty.
Cons: Flexible
Pros: Higher interest rates
Limits prepayments. Lower rates, but penalties for early payout.
Cons: Affordable, predictable
Pros: Less flexibility
Less than 20% down. Requires mortgage insurance.
Cons: Buy sooner with less down
Pros: Higher cost due to insurance
We’ll help you understand which mortgage fits your situation — clearly and simply.
