Resources

Get answers to your questions, and a wealth of knowledge for navigating mortgages with conviction—whether you’re new to home buying or already own a home.

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Browse our curated selection of lessons for every stage of your home ownership journey.

First-time home buyers

Learn the fundamentals of buying a home so you can enter the market with confidence.

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Current homeowners

Find helpful tools and resources to ensure your mortgage is still right for you.

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Not sure where to start? Check out featured mortgage content.

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Webinars

Watch free video lessons on home buying and homeownership

The First-Time Home Buyers’ Guide to Homeownership

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The Homeowners' Guide to Switching and Refinancing a Mortgage

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Your Questions, Answered: Home Buyers' Plan and Credit Scores

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Frequently asked questions

  • What is the home buyers' plan?

    The Canadian Government’s Home Buyers' Plan (HBP) allows first-time home buyers to borrow up to $35,000 from their RRSP for a down payment, tax-free.

  • What is the difference between an open and closed mortgage?

    With a closed mortgage, you will receive a lower interest rate (compared to an open mortgage), but there is a maximum annual amount you can pay towards your mortgage balance without penalty.

  • What is the mortgage stress test?

    The mortgage stress test requires financial institutions to make sure a borrower can still make mortgage payments if interest rates increase.

  • What is the difference between a mortgage amortization period and mortgage term?

    Your mortgage amortization is the length of time until your mortgage is fully repaid, typically ranging from 25-30 years. Your mortgage will have a set term. The term is the length of time you are committing to your mortgage agreement.

  • What is mortgage refinance?

    A mortgage refinance refers to ending your current mortgage and replacing it with a new one. When you refinance, you can gain access to the equity in your home by adding to the size of your mortgage or lengthening the amortization period of your mortgage.

  • What is creditor insurance?

    Creditor insurance protects you and your family. It's used to pay out a mortgage balance or cover your mortgage payments on your behalf if something unexpected happens.

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The information in these resources are for information purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied is made by Questrade Group of Companies or any other person to its accuracy.

Rates for high ratio insured mortgages are only available for customers purchasing an owner occupied residential property valued at under $1,000,000 with less than 20% down payment, and who are eligible for mortgage default insurance.

The interest rate is guaranteed for up to 120 days from the date the application is approved. If the mortgage is not funded within 120 days from the date the application is approved, the interest rate guarantee expires.