Whether you're buying your first home, upgrading to a larger space, or investing in property — get matched with 138+ Canadian lenders in under 3 minutes. Compare rates, terms, and monthly payments side by side. No credit impact at pre-approval.
Everything you need to know before you start house hunting — from qualification criteria to the application process.
A mortgage is a loan secured by your property. The home itself serves as collateral, which reduces the lender's risk and allows them to offer lower interest rates than unsecured loans. You repay in regular installments over the amortization period — typically 15 to 30 years.
Canadian mortgages come in fixed-rate (locked for the term), variable-rate (fluctuates with the Bank of Canada's rate), or hybrid (split between both). The current prime rate is 4.45% with the BoC overnight rate at 2.25% as of June 2026.
Lenders evaluate your credit score, income, debt-to-income ratios (GDS max 39%, TDS max 44%), down payment size, and whether you pass the mortgage stress test. All federally regulated lenders must test your ability to pay at 5.25% or your contract rate plus 2% — whichever is higher.
Mortgages are available from major banks (RBC, TD, Scotiabank, BMO, CIBC), credit unions, mortgage brokers (like Credit Trust), and private lenders. Brokers compare offers across 138+ lenders — banks only show you their own rates.
Slide to adjust. When you're ready, apply to see your actual pre-approval amount — no credit impact.
Canada has a tiered minimum down payment system. If you put down less than 20%, mortgage default insurance is mandatory — but it also allows you to buy sooner with less saved.
Minimum $25,000 on a $500,000 home
5% on first $500K, 10% on the remainder
Minimum $300,000 on a $1.5M home
Mortgage default insurance (CMHC, Sagen, or Canada Guaranty) costs 0.6%–4.5% of the mortgage amount and is typically added to your loan balance. It protects the lender — not you — but enables homeownership with as little as 5% down.
The process from application to keys — through Credit Trust, step 1 takes under 3 minutes.
Know your budget before you shop. A pre-approval locks your rate for 90–120 days and shows sellers you're a serious buyer. We'll connect you with lenders who can pre-approve you within 24 hours — no credit impact at this stage.
Work with a real estate agent to find the right property. Your pre-approval letter gives you negotiating power. Once your offer is accepted, the purchase agreement goes to your lender.
Your lender reviews the purchase agreement, orders an appraisal to confirm the property's value, and underwrites your application. Provide any additional documents requested — we'll guide you through what's needed.
You'll need liquid funds for the down payment and closing costs (legal fees, land transfer tax, title insurance). On closing day, your lawyer transfers funds and registers the mortgage. Then — you get the keys.
Having these ready speeds up your pre-approval significantly. Requirements vary by lender — we'll tell you exactly what's needed once matched.
Driver's licence, passport, or provincial ID card
Required for credit checks and identity verification
Recent pay stubs, employment letter, T4/T4A slips, Notice of Assessment (NOA), or 2–3 years of tax returns if self-employed
Bank statements showing 90-day history of funds, gift letter if receiving help from family, RRSP withdrawal statements if using HBP
Void cheque or pre-authorized debit form for mortgage payments
MLS listing, accepted offer/purchase agreement, property tax estimate, condo fees if applicable
Your down payment isn't the only cash you'll need at closing. Here's what to expect.
A bank shows you one rate — theirs. We show you competitive offers from over 138 lenders simultaneously. More competition means better rates for you.
Banks typically require credit scores of 680+. Our network includes alternative and private lenders who work with scores below 600 — all in the same search.
Bank mortgage approvals can take days or weeks. Through Credit Trust, pre-approval takes minutes. Matched offers arrive within hours, not days.
We never charge borrowers. Lenders in our network compensate us when you accept an offer. You get the best rate without paying a dime for our service.
Compare offers side by side. Take your time. Accept only if you like what you see. There's zero obligation and pre-approval never affects your credit score.
Not sure which mortgage type fits your situation? Our mortgage specialists can walk you through your options at no cost. We're here to help, not to sell.
Common questions about home purchase mortgages — as of June 2026 with current rates and policies.
Dive deeper into specific topics to make the most informed decision possible.
One application. 138+ lenders. Multiple offers. No credit impact at pre-approval. Funds in as little as 24 hours after closing.
Takes 3 minutes • No obligation • 97.98% approval rate