Qualifying for a Mortgage
 When approving borrowers for a mortgage, lenders look at two factors - down payment and income. If the down payment is 20% or more, it's a conventional mortgage. If it's less than 20%, it's a high ratio mortgage requiring default insurance from the Canada Mortgage and Housing Corporation or GE Capital Mortgage Insurance Canada (GE). As for income, lenders look at two ratios. One is the "GDS" or Gross Debt Service ratio. No more than 30% to 32% of a borrower's gross annual income should go to "mortgage expenses" - principal, interest, property taxes and heating costs (plus maintenance fees for condo mortgages). The second is "TDS" or Total Debt Service ratio looks at the gross annual income needed for all debt payments-house, credit cards, personal loans and car loan. Depending on the lender, TDS payments should not exceed 37% to 40% of gross annual income.


The combined incomes of both spouses are usually considered, but not rental income. Armed with this information, borrowers can crunch their own numbers before applying for a mortgage. Or your lender can do it for you when you get a pre-approved mortgage.

A great mortgage is more than a great rate. There are other factors to consider, such as: do you go long-term or short-term, will you need money for renovations and how can you pay off your mortgage sooner? Mortgage specialists are here to advise you on all this - and more!

Long-Term Solutions
A mortgage is a long-term commitment. That's why we don't believe in one-time introductory offers on our long-term mortgages. Instead, we'll give you a no-haggle, highly competitive rate that lasts for your entire mortgage term. You can design a mortgage that is right for you, with flexible terms and payment options to help pay off your mortgage quicker.

Short-Term Solutions
Looking for a solution that addresses your immediate needs? A short-term mortgage may be the right product for you, making your mortgage easier to handle and giving you more flexibility. Plus you can lock in for a longer term anytime.

Want the Best of Both Worlds?
You can lock in to today's low rates with our five-year RateCapper? Mortgage. You'll never pay more than a maximum capped rate, no matter how high our Prime Rate may rise. Plus, you'll benefit if prime decreases.

A Variety of Options to Choose From
Accelerated weekly or bi-weekly payments are a great way to pay off your mortgage sooner - and save thousands of dollars. In addition, you can enjoy added peace of mind with options like Skip-A-Payment?. These are just some of the options a mortgage specialist can help you with.