• First Time Home Buyers

    As a first time homebuyer, you can use your RRSP funds toward your down payment.

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    OPTION1 Mortgages & Financial
    400 Applewood Cres. Suite 100 VaughanONL4K0C3 CA 
     • 800-722-7172
    First Time Home Buyers
  • Renewing Your Mortgage

    More than 70% will simply complete the form and send it in without asking any questions.

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    Renewing Your Mortgage
  • Why use a Mortgage Agent

    You want to make sure you’re comparing apples to apples so you don’t end up with a lemon.

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    Why use a Mortgage Agent
  • Solutions for Self-Employed

    It makes sense to have a professional help you with the first impression made to the lender.
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    Solutions for Self-Employed

 Mortgages Ontario | Life Insurance | Group Benefits

Mortgages Ontario. Mortgage brokers in Ontario can offer you more choices than any bank or credit union because we work with many different lenders.  Mortgages Ontario | Life Insurance | Group Benefits in Ontario.  Our current Ontario Mortgage rates start as low as 2.35%. If you would like to buy a house or renew your existing mortgage, you can get a Free, No Obligation Mortgage Approval here. If you’re trying to figure out how much house you can afford, or whether or not it makes sense to refinance your current mortgage, a mortgage calculator can give you an idea of what your monthly mortgage payment would be at different interest rates. You can use this mortgage calculator or you can use the mortgage payment calculator at the bottom of this page. Ontario mortgage rates are updated on the chart below. Contact Option1 Mortgages for the best mortgage rates Ontario and the best mortgages Ontario. No Credit Check is required for the rate estimate.

There’s a lot to consider when you’re shopping for the best mortgage in Ontario. You want to get the best mortgage rate, but you also want a good mortgage. Unfortunately, the best mortgages rates Ontario are not always for the best mortgages. There’s a difference between getting a good deal and finding the cheapest product.





mortgages ontario current ratesThe good news is, the very best mortgages in Ontario only cost a few dollars more per month than less desirable mortgages.


Remember, not all mortgages are the same. The major banks in Canada now only offer collateral mortgages, and not conventional mortgages like the ones we’re all used to in Canada.


Option1 Mortgages & Financial Products works with 49 top lenders in Ontario. We can offer you the best mortgage rates in Ontario on a wide range of products, including renewing your mortgage, refinancing, home purchase loans, mortgages for self employed, mortgages for first time home buyers, debt consolidation and private mortgages.



Mortgages Ontario | Life Insurance | Group Benefits


Option1 Mortgages & Financial Products is your one stop financial solutions provider. We can help you with mortgages, mortgage insurance, life insurance, critical illness insurance and Group Benefit Plans.


Things To Consider When Shopping For A Mortgage:


  • Is the rate for a collateral mortgage?
  • Do you have the right documentation? Each type of employment has different requirements.
  • How about your credit history, has it been reviewed?
  • Do you have a mortgage pro who’s going to take the time to make sure you’re getting the best mortgage for your needs?


Remember, there’s a lot of fine print you won’t get to see till you need to get out of the mortgage or refinance. Call 1-800-722-7172 for the best mortgages in Ontario and the best Ontario mortgage rates. You can also send us your information to have us contact you, or, you can use our free, no-obligation mortgage approval form if you prefer.


Why Choose Option1 For Mortgages in Ontario


mortgages ontario tips to get approved

Jack and Jane (not their real names) came to us after being turned down for a mortgage renewal application for their home. After doing an online search for Ontario mortgage rates, they chose a well-known and well-established Ontario mortgage broker. They were shocked at being declined.


During 5 years with their current lender, they had never missed a payment or been late and they now had over 30% equity in their home. Their income levels were a bit lower than before, but so were their debts, so they expected clear sailing. Needless to say, they were quite surprised when this broker got back to them 5 days later and advised them he wouldn’t be able to help them because of their low income levels.


What We Did

We reviewed Jack and Jane’s income and debt information and we calculated their debt ratios to see if we could qualify them for a mortgage. Jack had pension income from a few different sources and Jane was self-employed. Theirs wasn’t the simplest mortgage application to process, but it wasn’t unusual in any way. What we discovered was that the previous broker had not used all of the qualifying income and some Jack’s tax free income had not been grossed up as allowed by lender guidelines. As a result, their debt ratios were too high and Jack and Jane did not ‘qualify’ for a mortgage.


The Outcome

By including all of the appropriate income and then applying the proper gross up calculations, Jack and Jane did fit within the qualifying debt ratio guidelines for a mortgage. It was tight, but they fit. Not only were we able to qualify Jack and Jane for a mortgage, we were able to qualify them for a low rate variable mortgage with all the bells and whistles. Variable rate mortgages are more difficult to qualify for because a higher mortgage rate is used to qualify the borrowers. Quite a stretch from being turned down!


The Lesson

Having a lot of experience does not automatically translate into being able to provide a better service. If the person is too busy or doesn’t pay enough attention to detail, all the experience in the world won’t make one bit of difference to the outcome.

Many brokers take the easy route and play it safe by using the income levels that are reported on the customer’s Notice of Assessment. But the NOAs don’t reflect proper income levels for non-taxable and self-employed earnings.

Luckily, Jack and Jane had the good sense to get a second opinion. Had they accepted the first broker’s opinion, they probably would have panicked and put their house up for sale giving up on their dream of home ownership.

This is an extreme example, but mistakes like this happen every day. The results range all the way from the borrower having to pay a higher interest rate to being declined.

For the best service for mortgages, life insurance or group benefit plans, call Option1 at (800) 722-7172. If you would like us to contact you, use our 30 second contact form. If you would like to fill out an online application form, use our free, no obligation mortgage approval.


mortgages ontario no obligation mortgage approval


There’s a lot of information about various mortgage products in our services section. Be sure to visit our FAQ section for reference material and our check into our blog regularly for recent articles of interest on mortgages, real estate and insurance products. If you have any questions, please call 1-800-722-7172 or use our 30 second contact form; we’ll be glad to help you with any questions you might have.


Would you like to receive our free newsletter? Send a quick note to marianne@option1mortgages.com


Mortgages | Life Insurance | Group Benefits Ontario


Real estate in Ontario has proven to be a wise investment over the years. The value of property has enjoyed an enormous boom, especially in larger cities like Toronto. It’s common for people to lose money in the stock market, not so much with real estate investments.

We service Barrie, Midland, Orillia, Simcoe County and all of Central Ontario from our office in Penetanguishene.

Our Vaughan office serves clients in Toronto and the Greater Toronto Area (GTA) including Richmond Hill, Markham, Mississauga and Brampton and across the rest of Ontario.

If you’re thinking of moving to Ontario, you can learn more about Ontario here.


Call 800-722-7172 or use our 30 second form for a free consultation.


Mortgages Ontario | Life Insurance | Group Benefits in Ontario


Many people think all mortgage are pretty similar. After all, how much difference can there really be? The answer: there’s a huge difference between the types  of mortgages that are available, and it can cost you a lot of money down the road if you take the wrong product.


Many lenders are using collateral mortgages rather than standard or conventional mortgages. Previously, home loans were always registered as a standard charge unless one was applying for a Home Equity Line of Credit (HELOC).  But in 2010, a few banks started to register home loans as collateral mortgages rather than the usual standard charge mortgages. In fact, a number of banks in Canada no longer offer standard mortgages at all.


Collateral Mortgages vs Conventional Mortgages Ontario


With standard mortgages, only the amount being borrowed is registered as a loan. So, if you borrow $400,000 on a $600,000 home, the mortgage is registered for $400,000 and you have $200,000 of ‘free’ equity in your property.

When you go to apply for credit or another loan, you have this $200,000 of free equity to show on your balance sheet.

With a collateral mortgage, the loan is registered at 100% to 125% of the total value of the property, regardless of the amount being borrowed. That same $400,000 loan is registered at up to $750,000. Yet, you only borrowed $400,000.

A collateral mortgage will tie up your existing $200,000 of equity and any potential increase in equity as the value of your home goes up.


That’s Not All


With a conventional or standard mortgage your rate can’t be increased during the term, even if you go into default or fall into arrears in your payments.


With a collateral mortgage the lender has the right to raise your interest rate by up to 10% because the loan is registered at a charge of prime plus 10%.


Call (800) 722-7172 or use our 30 second form for a free consultation.




  • It gets complicated, and it’s better to know what you’re getting into up front, before you commit.
  •  We know about the different types of mortgages and we can help you make an informed choice.
  •  We’re here to help and our service usually comes at no cost to you for most standard mortgages.




This is a multipurpose, easy to use free mortgage calculator. You simply fill in the sections you want to use and leave any of the ones you don’t need empty.

For example, if you don’t want to include the property tax in your monthly payment calculation, simply delete the contents of that box. The same goes with property insurance or any other value.

The PMI box in the mortgage calculator is used to calculate the monthly cost for mortgage insurance by CMHC or Genworth. For CMHC insured mortgages, you can find the rate that would apply to your situation on the first time home buyer page. For Genworth insured mortgages, go to our mortgages for self employed page. The PMI value is only for buyers who do not have 20 percent down payment.

Loan Calculator Mortgage Calculator

$ per year
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Remember to clear any unwanted portions of the mortgage calculator, otherwise the results will not be accurate. For example, if you want to refinance, there won’t be a down payment involved, so make sure you leave that space blank.

If you would like to discuss your financing options, give us a call at (800) 722-7172, use our free, no obligation mortgage approval form or our contact form. We’d be glad to have a small part in making your dream home come true.



Mortgages Ontario | Life Insurance | Group Benefits. Mortgage brokers Ontario OPTION1 call 800-722-7172 for expert advice and save your $


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Jul 11, 2014 by Lise-Anne Correia

Marianne works with you to make sure you understand what is important about the financial product you are buying.
She keeps you informed throughout the process and works tirelessly to get you the best rate and the best products.
Marianne \’makes things happen\’ and she delivers on her promises. It\’s great to work with someone who makes sure you know and understand your options.

Barrie, ON

Jul 02, 2014 by H.A. Whitney

As a successful I.T. Specialist, I like to work with people who are good at what they do. Marianne is such a person.

I’ve been a client for 14 years and I’m glad to recommend her services to anyone.

Scarborough, ON

Jun 15, 2014 by Andrea M.

Marianne takes the time to explain what\’s important about the financial product you\’re about to purchase.

It\’s a refreshing change when someone makes sure you understand what your options are.

Markham, ON

OPTION1 Mortgages & Financial 800-722-7172 400 Applewood Cres. Suite 100 Vaughan ON, L4K0C3 CA 5.0 5.0 3 3 Marianne works with you to make sure you understand what is important about the financial product you are buying.She keeps you informed throughout the process and works tirelessly



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