Tools & Answers to Put Your Mind at Ease
Knowledge is power — especially when it comes to your mortgage. Use the calculator below to explore your numbers, and read through common questions I hear every day.
Mortgage Calculator
Get a quick estimate of your monthly payments. For a more accurate picture, reach out and I'll run the numbers with you.
This is a quick estimate for planning purposes and does not include taxes, condo fees, insurance, or lender-specific qualification rules.
Estimated Monthly Payment
$3,007
Video FAQs
Quick video answers to the questions I hear most.
Video FAQ Transcripts
Every word from the video answers above, written out so you can read instead of watch.
Why work with a mortgage broker?ReadHide
Hi, my name is Alex Monaco, and I'm here to answer the question why work with a mortgage broker. Mortgage brokers work with many different lenders, and we shop out to find you the best mortgage and the best rate and terms for your needs.
I'm self-employed. Can I get a mortgage?ReadHide
Hi, my name is Alex Monaco and I'm here to answer the question, I'm self-employed, can I get a mortgage? Yes, you can. There are lenders who specialize in self-employed borrowers and look at your business income differently than a bank does. We use your notices of assessment, business financials, or bank statements to build the strongest possible application for you.
How much of a down payment do I need?ReadHide
Hi, my name is Alex Monaco and I'm here to answer the question, how much of a down payment do I need? In Canada the minimum is five percent on the first five hundred thousand dollars of the purchase price, ten percent on the portion between five hundred thousand and one million, and twenty percent on homes over one million dollars. If you put down less than twenty percent, you will also pay mortgage default insurance.
Fixed or variable rate: which should I choose?ReadHide
Hi, my name is Alex Monaco and I'm here to answer the question, should I choose a fixed or a variable rate? A fixed rate stays the same for the whole term, so your payment is predictable. A variable rate moves with the prime rate, which can save you money when rates fall but costs more when they rise. The right answer depends on your budget, your risk comfort, and how long you plan to keep the mortgage.
What happens at mortgage renewal?ReadHide
Hi, my name is Alex Monaco and I'm here to answer the question, what happens at renewal? Your lender mails you an offer, and most people simply sign it. That offer is rarely their best rate. Renewal is your one chance to restructure the mortgage, not just re-rate it: consolidate debt, change your amortization, or move to a lender that fits your life today.
How long does mortgage approval take?ReadHide
Hi, my name is Alex Monaco and I'm here to answer the question, how long does approval take? A pre-approval is usually done within twenty-four to forty-eight hours once I have your documents. A full approval depends on the lender and your situation, but for a straightforward file it is typically a few business days.
Frequently Asked Questions
No question is too basic — I hear these every day and I'm happy to explain.
How much can I afford?
This depends on your income, debts, down payment, and the current interest rates. A pre-approval will give you a clear number — and it's free and no-obligation.
What's the difference between a fixed and variable rate?
A fixed rate stays the same for your entire term — predictable and worry-free. A variable rate can change with the market, sometimes saving you money, but with more uncertainty. I'll help you decide which fits your comfort level.
How much do I need for a down payment?
In Canada, you need at least 5% down for homes under $500K. For homes $500K–$999K, it's 5% on the first $500K and 10% on the rest. Over $1M requires 20% down.
What is mortgage default insurance?
If your down payment is less than 20%, you'll need mortgage default insurance (like CMHC). It protects the lender, but the cost is added to your mortgage. I'll explain exactly how this affects your payments.
Can I get a mortgage if I'm self-employed?
Absolutely. Self-employed mortgages are one of my specialties. Even if your income is harder to prove on paper, there are flexible programs designed for your situation.
Should I use a mortgage broker or go to my bank?
Your bank offers only their own products. As a broker, I shop across 50+ lenders to find you the best rate and terms. My services don't cost you anything extra — lenders pay my fee.
What does the mortgage process look like?
We start with a conversation about your goals. Then I gather some documents, get you pre-approved, and handle everything with the lender. I keep you updated every step of the way — no surprises.
How long does it take to get approved?
Pre-approval can happen within 24–48 hours. Full approval depends on the lender and your situation, but I work to make it as fast as possible.
Let's Look at Your Numbers Together
Send the quick inquiry below and I'll reply personally within one business day. Prefer to talk? Book a time or text me instead.
Quick Inquiry
Tell me a bit about your situation and I'll come back to you personally.
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416.894.9626
Office
75 First Street, Unit #7, Orangeville