Mortgage 101 · Explained
Mortgages, Explained
The stress test, penalties, default insurance, debt ratios, monoline lenders and the economics that move your rate — in plain language, written by a Calgary mortgage broker. Start with the essentials, or jump to whatever’s on your mind.
Quick answer: Most mortgage “gotchas” come down to a handful of ideas — how lenders decide what you qualify for (the stress test and debt ratios), what a mortgage really costs to break (the penalty / IRD), and what moves rates in the first place (inflation, GDP and the Bank of Canada). Understand these and you’ll never be caught off guard at renewal.
The essentials — how you qualify
Rates, costs & risk
Lenders & credit
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