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So you’re looking to understand the prime rate in Canada when it comes down to mortgages. The prime rate is usually referring to the interest rate that large banks charge on short-term loans to their best customers. It is used as a guideline for interest rates. The prime...

We get asked a lot — What is Genworth (now known as Sagen)?.   What is Genworth? Genworth is a Mortgage Insurance Underwriting firm and is the largest private residential mortgage insurer in Canada. It provides mortgage default insurance to Canadian residential...

What are the different mortgage types you ask? When it comes to getting a mortgage it is good to know that there are several different mortgage types you can get based on your own specific needs. Here at The Mortgage center, our brokers are trained to choose the best mortgage...

So if you have noticed that you are paying an insurance premium on your mortgage and are wondering what it is and why you have no choice in this insurance option. This is called default insurance. Mortgage default insurance protects the lender from losing out should a mortgage...

Have you ever thought of building your dream home but have no idea how to finance it?  Well then a construction mortgage may be just the thing for you! We can help you understand the terms that will come with a construction mortgage and answer any questions you may have regarding...

If you are trying to choose between a fixed or variable rate, it can seem to be a daunting task.  That is where we come in to help you choose the best option for you and your own personal situation.  The first step is understanding what a variable rate vs a fixed rate is. A...

Common sense tells us to purchase home insurance so if anything such as a fire should happen you are protected by your insurance. What if something should happen to you and you are no longer able to make your mortgage payments?  This is where Mortgage Life and Disability...

CONGRATS!!!  You’ve reached a mortgage renewal!!!!  This means that you have reached the end of a term within your mortgage agreement.  The question is do you take the offer your current lender has sent you or shop around? You may think that because you have been a great client...

You may be asking yourself, Can I use My RRSPs for a Down Payment? Coming up with money for a down payment for a mortgage could be the only thing standing in the way for a potential homeowner. For some people it is the hardest part in obtaining a mortgage. It can be difficult to...

One of the first steps when picking a mortgage is picking what type of mortgage you want. Knowing the difference between a fixed and variable rate will help you determine the type of mortgage you want. A Fixed Rate Mortgage means that whenever you sign your mortgage you are...