You own the unit you live in, whether it’s a high-rise, low-rise, or townhouse, and share ownership rights for the common areas of the building with other owners in the development. This shared ownership includes spaces like hallways, gyms, and gardens, ensuring all residents contribute to the maintenance and enjoy the communal facilities.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Understanding Mortgage Interest in Canada

    Navigating the world of mortgages can be complex, especially when it comes to understanding how interest rates impact your home [...]

  • Understanding Mortgage Terms and Amortization

    When it comes to securing a mortgage in Canada, two critical concepts you need to understand are mortgage terms and [...]

  • Variable or Fixed Mortgage Rates

    Fixed vs. Variable Mortgage Rates: Which is Right for You? Choosing between a fixed or variable mortgage rate is a [...]