Should I apply for a mortgage?

If you plan to buy a house and cannot afford to pay for it in cash, you should consider applying for a mortgage.

Obtaining a mortgage to buy a house means that you will not be liable for the total cost of the property upfront. You will be able to pay for the house in small amounts over a set period, typically 25 years, with interest.

It is worth noting that when you get a mortgage, the property serves as collateral for the loan. Therefore, if you default on your mortgage, your lender has the right to seize the collateralized property.

Jul 30 - Comparewise Mortgage Banner

Read other Q&As

Should You Hire a Mortgage Broker?
Top Mortgage Providers In Canada
How to Get a Joint Mortgage
Smarter Loans
Source Capital
KOHO Premium Prepaid Visa
Jeeves Cash Back Business Credit Card
National Bank Platinum Mastercard


Didn’t find an answer to your questions?

Send us your questions and we will get back to you.

Car loan?
Personal Loan?

Top deals await you just a short
application away!