How many residential mortgages can I have?

The number of mortgages you can have is unlimited. Rather, people are constrained by their capacity to manage several mortgages or their financial status. First and second mortgages are two mortgages that are typically held concurrently on a same property.

What is a second mortgage Canada?

Second mortgage is a second loan or funding you take on your residential property. Interest rates on second mortgages are usually higher than first mortgages and you need to pay both your mortgages at the same time.

What is a conventional mortgage Canada?

A conventional mortgage in Canada is a loan where the down payment is at least 20% of the property's purchase price. This means that the loan amount is 80% or less of the property's value.

How long can you mortgage a home in Canada?

In Canada, you can mortgage a home for 25 years. If you are a first-time buyer or purchasing a new build you can mortgage it for 30 years. These rules took effect on December 15, 2024.

Can I buy a home with less than a 20% down payment?

The minimum amount you need for your down payment depends on the purchase price of the home. If your down payment is less than 20% of the price of your home, you'll typically need to buy mortgage loan insurance. If you're self-employed or have a poor credit history, your lender may require a larger down payment.

Should I choose a fixed rate or variable rate mortgage?

Interest rates either rise or fall. But a study suggests that homeowners with a variable mortgage fair better than a fixed rate one.

Satbir Bhullar Mortgages

04 Sep Co-Ownership Mortgages in Abbotsford and Surrey: An Affordable Path to Homeownership in 2025–2026

Posted at 11:35h in Mortgage Broker in Abbotsford

For many Canadians, buying a home has never been more challenging. Rising property values in British Columbia, particularly in Surrey and Abbotsford, have pushed traditional affordability limits. Even with the Bank of Canada holding its policy rate at 2.75% as...

13 Aug BC Fall Mortgage Outlook: How Seasonal Trends and Rate Stability Could Shape Your Buying or Renewal Strategy

Posted at 10:35h in Mortgage Renewal

As BC heads into the fall of 2025, the mortgage market is entering a rare period of rate stability. The Bank of Canada’s July 30 hold at 2.75% confirmed what many industry analysts expected — no immediate moves on the...

08 Aug BC’s Mortgage Market After the July 30 BoC Hold: What Buyers and Renewers Should Do Now

Posted at 18:58h in Mortgage Renewal

The Bank of Canada’s (BoC) July 30, 2025 decision to hold its key policy rate at 2.75% marks a critical turning point in British Columbia’s mortgage market. While the rate hold was widely anticipated after June's inflation data showed continued...

01 Aug Bank of Canada Holds Rates at 2.75%: What It Means for BC Homebuyers and Homeowners

Posted at 17:28h in Mortgage Broker in Abbotsford

On July 30, 2025, the Bank of Canada announced that it will maintain its key overnight rate at 2.75%, marking the third consecutive hold since April. This decision reflects the Bank’s cautious approach as inflation trends downward but remains above...

26 Jun Summer 2025 Mortgage Outlook: Will Falling Inflation Trigger Another Bank of Canada Rate Cut?

Posted at 17:52h in Mortgage Interest Rate

The summer of 2025 has arrived with a sense of cautious optimism for Canadian homebuyers and homeowners alike. With the Bank of Canada’s next policy announcement scheduled for July 30, speculation is mounting that a further rate cut may be...

12 Jun How Lower Inflation and Bond Yields Are Shaping Mortgage Rates in BC (2025 Outlook)

Posted at 10:15h in Mortgage Interest Rate

Mortgage Market Update: What's Changing in BC British Columbia’s housing market is entering a new phase in 2025, shaped by a notable decline in bond yields and easing inflation. For residents of Abbotsford, Surrey, and other nearby cities, this shift is...

04 Jun How Lower Bond Yields Are Reshaping Fixed Mortgage Rates in BC

Posted at 12:39h in Mortgage Interest Rate

As of mid-2025, a notable trend has emerged in Canada’s mortgage market — declining bond yields are nudging fixed mortgage rates lower, signaling potential savings for homebuyers and current mortgage holders alike. For residents in Surrey, Abbotsford, and surrounding Fraser...

28 May Home Equity Loans in BC: What They Are, How They Work, and When to Use Them

Posted at 12:27h in Home Equity Loan

Your home is more than just a place to live — it’s also one of your most powerful financial tools. If you’ve built up equity in your property, a home equity loan could help you unlock that value to achieve...

12 May The Ultimate Guide to First-Time Home Buyer Mortgages in BC

Posted at 10:16h in First Time Homebuyer Mortgage

Buying your first home is a major milestone — and one of the biggest financial commitments you’ll make. For residents of Abbotsford, Surrey, and nearby areas in British Columbia, navigating the mortgage process can be overwhelming, especially with changing government...

29 Apr 5 Tips to Get the Best Home Purchase Mortgage Rates in Surrey

Posted at 15:21h in Home Purchase Mortgage

Buying a home is one of the biggest financial decisions you will make, and in 2025’s competitive real estate market, securing the best mortgage rate is more important than ever. For buyers in Surrey, Abbotsford, Langley, and nearby areas, even...

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