Gilkinson Financial


The Mortgage Centre

Lic. #11952

Mortgage

Your mortgage is likely the largest debt you’ll ever have in your life. When you agree to a mortgage, you’re signing a legal contract promising to repay the loan plus interest and other costs. Your home is collateral for that loan. The principal is simply the sum of money you borrowed to buy your home. To lower your principal amount upfront, you can put down a percentage of the home’s purchase price as a down payment.

In addition to your principal and interest, your mortgage payment will likely include taxes. The taxes are property taxes your community levies based on a percentage of the value of your home. Lenders won’t let you close the deal on your home purchase if you don’t have home insurance, which covers your home and your personal property against losses from fire, theft, bad weather and other causes.

IMPORTANT INFORMATION: New mortgage rules will ‘reduce the risk’ a housing crash poses to Canada’s economy


Check now how much the mortgage for your house would cost by using our Mortgage Calculator

Latest Mortgage News

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2019-06-17 - Millennials continue to suffer under high prices, static incomes

2019-06-17 - Employment strength to augment Canadian purchasing power

2019-06-17 - New Brunswick and Alberta lead in fiscal accountability, transparency

2019-06-14 - Did Stephen Harper intentionally weaken anti-money laundering measures?

2019-06-14 - New Montreal by-law promises boost to affordable housing

2019-06-13 - Fortress Real investor sues unlicensed mortgage agent

2019-06-13 - Chinese crime baron linked to major laundering operation in BC

2019-06-13 - Victims cry foul over Fortress Real rewards

2019-06-13 - Manitoba housing to benefit from massive $450-million investment

2019-06-12 - An award-winning idea

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2019-06-12 - U.S. stock market movements will be keenly felt by Canada - analysts

2019-06-11 - No retirement for 73-year-old Fortress Real investor

2019-06-11 - Sluggish single-family sector pulled down May 2019 housing starts

2019-06-11 - Fake real estate investment schemes falsely promise tax write-offs