Paying Off Your Mortgage As Quickly As Possible

Tanya Toye • September 25, 2024

Being a home owner is excellent, having a huge mortgage isn’t. So, if you have a mortgage that you’re looking to get rid of as quickly as possible, here are four things you should consider doing.


Accelerate your payments


Making the change from monthly payments to accelerated bi-weekly payments is one of the easiest ways you can make a difference to the bottom line of your mortgage. Most people don’t even notice the difference or increased payment.


A traditional mortgage with monthly payments splits the amount owing annually into 12 equal payments. Accelerated biweekly is simply taking a regular monthly payment and dividing it in two, but instead of making 24 payments, you make 26. The extra two payments accelerate the paying down of your mortgage.


Increase your regular mortgage payments


Chances are, depending on the terms of your existing mortgage, you can increase your regular mortgage payment by 10-25%. Alternatively, some lenders even offer the ability to double-up your mortgage payments. These are great options as any additional payments will be applied directly to the principal amount owing on your mortgage instead of a prepayment of interest.


Make a lump-sum payment


Depending on your lender and your mortgage product, you should be able to put down anywhere from 10-25% of the original mortgage balance in a bulk payment. Some lenders are particular about when you can make these payments; however, you should be eligible if you haven’t taken advantage of a lump sum payment yet this year.


Making a lump-sum payment is a great option if you’ve come into some money and you’d like to apply it to your mortgage. As this will lower your principal amount owing on the mortgage, it will reduce the amount of interest charged over the life of the mortgage.


Review your options regularly


As your mortgage payments debit from your bank account directly, it’s easy to put your mortgage on auto-pilot and not think twice about it until your term is up for renewal. Unfortunately, this removes you from the driver's seat and doesn’t allow you to make informed decisions about your mortgage or keep up to date with market conditions.


So let’s talk about an annual mortgage review. Working through an annual mortgage review with an independent mortgage professional is beneficial as there may be opportunities to refinance your mortgage and lower your overall cost of borrowing. By reviewing your mortgage at least once a year, you can be sure that you’ve always got the best mortgage for you! There is no cost involved here, just a quick assessment and peace of mind.


If you’ve got questions about your existing mortgage or want to compare your mortgage to options available today, please connect anytime. It would be a pleasure to work with you.


Tanya Toye

Mortgage Broker

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Your Guide to Real Estate Investment in Canada

By Tanya Toye • April 8, 2026
Your Guide to Real Estate Investment in Canada Real estate has long been one of the most popular ways Canadians build wealth. Whether you’re purchasing your first rental property or expanding an existing portfolio, understanding how real estate investment works in Canada—and how it’s financed—is key to making smart decisions. This guide walks through the fundamentals you need to know before getting started. Why Canadians Invest in Real Estate Real estate offers several potential benefits as an investment: Long-term appreciation of property value Rental income that can support cash flow Leverage , allowing you to invest using borrowed funds Tangible asset with intrinsic value Portfolio diversification beyond stocks and bonds When structured properly, real estate can support both income and long-term net worth growth. Types of Real Estate Investments Investors typically focus on one or more of the following: Long-term residential rentals Short-term or vacation rentals (subject to local regulations) Multi-unit residential properties Pre-construction or assignment purchases Value-add properties that require renovations Each type comes with different financing rules, risks, and return profiles. Down Payment Requirements for Investment Properties In Canada, investment properties generally require higher down payments than owner-occupied homes. Typical minimums include: 20% down payment for most rental properties Higher down payments may be required depending on: Number of units Property type Borrower profile Lender guidelines Down payment source, income stability, and credit history all play a role in approval. How Rental Income Is Used to Qualify Lenders don’t always count 100% of rental income. Depending on the lender and mortgage product, they may: Use a rental income offset , or Include a percentage of rental income toward qualification Understanding how income is treated can significantly impact borrowing power. Financing Options for Investors Investment financing can include: Conventional mortgages Insured or insurable options (in limited scenarios) Alternative or broker-only lenders Refinancing equity from existing properties Purchase plus improvements for value-add projects Access to multiple lenders is often crucial for investors as portfolios grow. Key Costs Investors Should Plan For Beyond the purchase price, investors should budget for: Property taxes Insurance Maintenance and repairs Vacancy periods Property management fees (if applicable) Legal and closing costs A realistic cash-flow analysis is essential before buying. Risk Considerations Like any investment, real estate carries risk. Key factors to consider include: Interest rate changes Market fluctuations Tenant turnover Regulatory changes Liquidity (real estate is not easily sold quickly) A strong financing structure can help manage many of these risks. The Role of a Mortgage Professional Investment mortgages are rarely “one-size-fits-all.” Lender policies vary widely, especially as you acquire more properties. Working with an independent mortgage professional allows you to: Compare multiple lender strategies Structure financing for long-term growth Preserve flexibility as your portfolio evolves Avoid costly mistakes early on Final Thoughts Real estate investment in Canada can be a powerful wealth-building tool when approached with a clear strategy and proper financing. Whether you’re exploring your first rental property or planning your next acquisition, understanding the numbers—and the lending landscape—matters. If you’d like to discuss investment property financing, run the numbers, or explore your options, feel free to connect. A well-planned mortgage strategy can make all the difference in long-term success.

Planning a Move? Look into Your Mortgage Options Before House Hunting

By Tanya Toye • April 7, 2026
Whether you’re preparing to buy your very first home or planning your fifth move, the reasons behind a move often evolve over time. Each stage of homeownership comes with different priorities, lifestyle considerations and financial goals. As a result, the mortgage that works best for you should reflect where you are today – and where you’re planning to go next. Upsizing For many homeowners, moving is about upsizing. As families grow, the need for additional bedrooms, more living space or a larger yard often becomes a priority. A bigger home can provide the space needed for children, home offices or simply a more comfortable lifestyle. In these situations, careful mortgage planning is essential to ensure the new home remains affordable while still allowing room for future financial flexibility. Downsizing Many homeowners ultimately reach a stage where downsizing makes more sense. Once children move out or lifestyle priorities change, a smaller home can offer easier maintenance, lower costs and the opportunity to free up home equity. Downsizing can also be part of a broader retirement strategy, helping homeowners simplify their finances while still enjoying the benefits of homeownership. Changing circumstances A move can be driven by changing life circumstances. A new job may require relocation, a desire to be closer to family may influence a move, or buyers may want access to different schools, amenities or neighbourhoods. In some cases, homeowners simply want a property that better reflects their current lifestyle – whether that means a shorter commute, a quieter community or a home designed for aging in place. Financial strategy Moving can be a strategic financial decision. Homeowners who have built significant home equity may choose to leverage it to upgrade their property, invest in a different location or restructure their finances in a way that better supports their long-term goals. Mortgage features Whatever the reason behind the move, the mortgage attached to that purchase should be just as carefully considered as the home itself. Features such as payment flexibility, prepayment privileges, portability and the right mortgage term can make a meaningful difference over time. Every move tells a different story and your mortgage should be tailored accordingly. If you’re thinking about making a move – whether it’s your first home or your next chapter – it’s worth exploring your options and planning ahead so your financing supports the life you’re building. Wondering how to optimize your mortgage on your next property? I’m here to help weigh all your options. 604-788-8693 | tanya@tanyatoye.ca