Concept 3 of 4: The Curve. Sample brokerage name, licence and contact details. Every rule and figure is real and sourced.Sample business details, real rules.
Toronto mortgage brokerage
Corbel Mortgage is a licensed mortgage brokerage in Toronto, Ontario. We compare lenders for you when you buy, renew or refinance, show you every number before you sign, and stay on your file through each renewal after closing.
Corbel Mortgage, mortgage brokerage, FSRA Licence #XXXXX. Toronto, Ontario.
Dashed lines mark the end of each five-year term, when the mortgage comes up for renewal if you choose five-year terms.
| Year | Interest | Principal | Owed at year end |
|---|
A 30-year amortization lowers the payment and raises the total interest. Since December 15, 2024, first-time buyers and buyers of new builds can choose it on an insured mortgage (Finance Canada). Uninsured mortgages, with 20% or more down, often allow 30 years too, depending on the lender.
The table follows the chart above. Change the amount or the rate and it updates.
| Per mortgage | 25 years | 30 years | Difference |
|---|---|---|---|
| Monthly payment | - | - | - |
| Interest over the life | - | - | - |
| Owed at year 5 | - | - | - |
Most files start with one of these. If yours doesn't fit, call anyway: the awkward files are where a broker earns the fee the lender pays.
Get pre-approved before you shop, hold a rate while you look, and have someone on the phone the night you make an offer. First home, move-up or new build.
First-time buyers and new builds can amortize an insured mortgage over 30 years since December 15, 2024 (Finance Canada).
Your renewal letter is your lender's opening offer. We put it next to what other lenders will do before you sign anything.
Switch without borrowing more or stretching your amortization and you don't pass the stress test again (Finance Canada, OSFI).
Borrow against the equity you've built to renovate, clear expensive debt or help family buy. We work out what breaking your current term costs first, so you see the trade before you make it.
Put in a price and a down payment. You get the cash you need on closing day and the mortgage that's left, with Toronto's double land transfer tax and any mortgage insurance included.
Cash at closing is your down payment, land transfer tax and Ontario's 8% sales tax on any insurance premium. Before legal fees and adjustments.
Every figure on this page comes from one of these. Each links to the government page it comes from, so you can check us.
| Rule | What it means for you | Source |
|---|---|---|
| Minimum down payment | 5% of the first $500,000, then 10% of the portion up to $1.5 million. At $1.5 million or more, 20%. | Financial Consumer Agency of Canada |
| Insured mortgage limit | Homes priced under $1.5 million can be bought with less than 20% down, since December 15, 2024. | Department of Finance Canada |
| Mortgage insurance premium | 0.60% to 4.00% of the loan, set by how much you borrow against the price. Ontario's 8% sales tax on the premium is paid at closing. | CMHC, Ontario Ministry of Finance |
| Longest insured amortization | 30 years for first-time buyers and new builds. 25 years for everyone else. | Department of Finance Canada |
| Stress test | Federally regulated lenders qualify uninsured borrowers at the higher of the contract rate plus 2%, or 5.25%. | OSFI |
| Switching at renewal | No new stress test when you switch lenders without borrowing more or extending the amortization. | Finance Canada, OSFI |
| Land transfer tax in Toronto | You pay Ontario's tax and the City's, on the same brackets up to $2 million. The City charges more above $3 million on houses since April 1, 2026. | Ontario, City of Toronto |
| First-time buyer rebates | Up to $4,000 back from Ontario and up to $4,475 from Toronto. | Ontario, City of Toronto |
Five stages. You always know which one you're in and what we need from you next.
Twenty minutes on what you're planning, your income and your timeline.
We gather your documents once, check your credit and hold a rate while you shop.
Rate, penalty terms, prepayment room and portability, side by side.
When a lender commits, we clear its conditions with you: appraisal, income, down payment.
We work with your lawyer to closing day, and call well before each renewal.
Short answers here, each with its source. On the full site, every one is its own page.
At least 5% of the first $500,000 and 10% of the portion above it, for homes under $1.5 million. At $1.5 million or more you need 20%. On an $800,000 condo that's $55,000.
Toronto buyers pay two land transfer taxes, Ontario's and the City's, on the same brackets up to $2 million. On a $1,000,000 home that's $16,475 each, $32,950 in total. First-time buyers can get up to $8,475 of it back.
Sources: Ontario Ministry of Finance, City of Toronto
No, if you keep the same loan amount and amortization. Insured mortgages can switch lenders at renewal without a new stress test, and OSFI doesn't expect lenders to apply it to uninsured straight switches.
Sources: Finance Canada, OSFI
Federally regulated lenders check that you could still afford an uninsured mortgage at the higher of your contract rate plus 2%, or 5.25%. At a 4.5% contract rate, you qualify at 6.5%.
Source: OSFI
Yes. Since December 15, 2024, first-time buyers and buyers of new builds can amortize an insured mortgage over 30 years instead of 25. The payment goes down and the total interest goes up: see the difference on your numbers.
Source: Department of Finance Canada
A one-time premium of 0.60% to 4.00% of the loan, depending on how much you borrow against the price. With 10% down it's 3.10%. In Ontario, 8% sales tax on the premium is due at closing and can't be added to the loan.
Sources: CMHC, Ontario Ministry of Finance
Your story goes here: how long you've arranged mortgages in Toronto, the neighbourhoods you know best, and why clients call you again at renewal.
Tell us what you're planning. We'll call back the same business day with the questions that matter for your file.