--- title: Homebuyers School | mortgage description: mortgage | Learn the latest strategies and tips so you are prepared for your next home purchase --- [![Layer 24](https://stories.brookfieldresidential.com/hs-fs/hubfs/Homebuyers%20school%20/Layer%2024.png?width=141&name=Layer%2024.png "Layer 24")](https://www.brookfieldresidential.com/) ![](https://cdn2.hubspot.net/hubfs/459002/BrookField%20Assets/search.png) [![By](https://stories.brookfieldresidential.com/hs-fs/hubfs/Homebuyers%20school%20/By.png?width=430&name=By.png "By")](https://stories.brookfieldresidential.com/homebuyersschool/) - [WHY HOMEBUYER'S SCHOOL](https://stories.brookfieldresidential.com/homebuyersschool/why-homebuyersschool) - [HOME BUYER RESOURCES](https://stories.brookfieldresidential.com/homebuyersschool/home-buying-resources-landing-page) - HOME BUYING TOPICS - [Mortgages](https://stories.brookfieldresidential.com/homebuyersschool/tag/mortgage-pre-approval) - [Choosing a home](https://stories.brookfieldresidential.com/homebuyersschool/tag/choosing-a-home) - [Buying a condo](https://stories.brookfieldresidential.com/homebuyersschool/tag/buying-a-condo-and-townhome) - [Home construction](https://stories.brookfieldresidential.com/homebuyersschool/tag/home-construction) - [Down payment](https://stories.brookfieldresidential.com/homebuyersschool/tag/down-payment) - [Purchase Price](https://stories.brookfieldresidential.com/homebuyersschool/tag/purchase-price) - [Home upgrades](https://stories.brookfieldresidential.com/homebuyersschool/tag/home-upgrades) - [Home maintenance](https://stories.brookfieldresidential.com/homebuyersschool/tag/home-maintenance) - [Homeowner association (HOA)](https://stories.brookfieldresidential.com/homebuyersschool/tag/homeowner-association) - [Interior design](https://stories.brookfieldresidential.com/homebuyersschool/tag/interior-design) - [Moving](https://stories.brookfieldresidential.com/homebuyersschool/tag/moving) - [Selling your home](https://stories.brookfieldresidential.com/homebuyersschool/tag/selling-your-home) - [PODCAST](https://stories.brookfieldresidential.com/homebuyersschool/podcast) ![Banner-Couple%202](https://stories.brookfieldresidential.com/hs-fs/hubfs/Homebuyers%20school%20/Banner%20photos/Banner-Couple%202.png?t=1533269012017&width=1440&name=Banner-Couple%202.png "Banner-Couple%202") # Be a better educated homebuyer Prepare to make the best decision when buying your next home [![Start learning today](https://no-cache.hubspot.com/cta/default/3390596/be737c8c-ac36-4547-b4ef-e6126cf70d4e.png)](https://cta-redirect.hubspot.com/cta/redirect/3390596/be737c8c-ac36-4547-b4ef-e6126cf70d4e) ![mortgage](https://stories.brookfieldresidential.com/hubfs/Homebuyers%20school%20/Banner%20photos/Mortgage%20pre-approval%20banner%20optimized.png) # mortgage ![](https://cdn2.hubspot.net/hub/459002/hubfs/BrookField%20Assets/video-list-hero-bg.png?width=1440&name=video-list-hero-bg.png) # author bio ## Recent Articles [Homebuyer strategies](https://stories.brookfieldresidential.com/homebuyersschool/tag/homebuyer-strategies) [home maintenance](https://stories.brookfieldresidential.com/homebuyersschool/tag/home-maintenance) [How to change your furnace filter (why to do it and how often)](https://stories.brookfieldresidential.com/homebuyersschool/how-to-change-your-furnace-filter-why-to-do-it-and-how-often) By [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) "I'll give you three reasons why it's really important to be changing your furnace f... [WATCH NOW ![](https://stories.brookfieldresidential.com/hubfs/Homebuyers%20school%20/Layer%201.png)](https://stories.brookfieldresidential.com/homebuyersschool/how-to-change-your-furnace-filter-why-to-do-it-and-how-often) [Homebuyer strategies](https://stories.brookfieldresidential.com/homebuyersschool/tag/homebuyer-strategies) [choosing a home](https://stories.brookfieldresidential.com/homebuyersschool/tag/choosing-a-home) [Top 5 things you must consider when buying a home for the first time](https://stories.brookfieldresidential.com/homebuyersschool/top-5-things-to-consider-when-buying-a-home-for-the-first-time) By [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) Before buying a home, what do you need to consider and prepare for? In this episode,... [WATCH NOW ![](https://stories.brookfieldresidential.com/hubfs/Homebuyers%20school%20/Layer%201.png)](https://stories.brookfieldresidential.com/homebuyersschool/top-5-things-to-consider-when-buying-a-home-for-the-first-time) ## Popular Articles [purchase price](https://stories.brookfieldresidential.com/homebuyersschool/tag/purchase-price) [Homebuyer strategies](https://stories.brookfieldresidential.com/homebuyersschool/tag/homebuyer-strategies) [choosing a home](https://stories.brookfieldresidential.com/homebuyersschool/tag/choosing-a-home) [When buying a house, do you own the land it's built on?](https://stories.brookfieldresidential.com/homebuyersschool/when-buying-a-house-do-you-own-the-land-it-is-built-on) By [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) "A lot of it depends on the actual style or type of home that you are buying. What w... [WATCH NOW ![](https://stories.brookfieldresidential.com/hubfs/Homebuyers%20school%20/Layer%201.png)](https://stories.brookfieldresidential.com/homebuyersschool/when-buying-a-house-do-you-own-the-land-it-is-built-on) [purchase price](https://stories.brookfieldresidential.com/homebuyersschool/tag/purchase-price) [Homebuyer strategies](https://stories.brookfieldresidential.com/homebuyersschool/tag/homebuyer-strategies) [What's in the purchase agreement and offer to purchase when buying a new home?](https://stories.brookfieldresidential.com/homebuyersschool/whats-in-the-purchase-agreement-and-offer-to-purchase-when-buying-home) By [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) Wondering what exactly goes into a purchase agreement and offer to purchase when buy... [WATCH NOW ![](https://stories.brookfieldresidential.com/hubfs/Homebuyers%20school%20/Layer%201.png)](https://stories.brookfieldresidential.com/homebuyersschool/whats-in-the-purchase-agreement-and-offer-to-purchase-when-buying-home) ![Untitled](https://stories.brookfieldresidential.com/hs-fs/hubfs/Untitled.png?width=1435&name=Untitled.png "Untitled") # HomeBuyers School By > “Always pick your yard based on your Summer lifetstyle.” ~ KARL ![](https://cdn2.hubspot.net/hub/459002/hubfs/BrookField%20Assets/post-right-bg.png?width=454&name=post-right-bg.png) ## You’ll Love # Learn more # about Homebuying   [![Start learning today](https://no-cache.hubspot.com/cta/default/3390596/be737c8c-ac36-4547-b4ef-e6126cf70d4e.png)](https://cta-redirect.hubspot.com/cta/redirect/3390596/be737c8c-ac36-4547-b4ef-e6126cf70d4e) ### Article Topics - [Homebuyer strategies (41)](https://stories.brookfieldresidential.com/homebuyersschool/tag/homebuyer-strategies) - [choosing a home (12)](https://stories.brookfieldresidential.com/homebuyersschool/tag/choosing-a-home) - [mortgage (10)](https://stories.brookfieldresidential.com/homebuyersschool/tag/mortgage) - [mortgage pre-approval (10)](https://stories.brookfieldresidential.com/homebuyersschool/tag/mortgage-pre-approval) - [interior design (7)](https://stories.brookfieldresidential.com/homebuyersschool/tag/interior-design) - [purchase price (7)](https://stories.brookfieldresidential.com/homebuyersschool/tag/purchase-price) - [mortgage rates (6)](https://stories.brookfieldresidential.com/homebuyersschool/tag/mortgage-rates) - [buying a condo and townhome (5)](https://stories.brookfieldresidential.com/homebuyersschool/tag/buying-a-condo-and-townhome) - [Homeowner Association (2)](https://stories.brookfieldresidential.com/homebuyersschool/tag/homeowner-association) - [buying a condo (2)](https://stories.brookfieldresidential.com/homebuyersschool/tag/buying-a-condo) - [home construction (2)](https://stories.brookfieldresidential.com/homebuyersschool/tag/home-construction) - [home maintenance (2)](https://stories.brookfieldresidential.com/homebuyersschool/tag/home-maintenance) - [down payment (1)](https://stories.brookfieldresidential.com/homebuyersschool/tag/down-payment) - [selling your home (1)](https://stories.brookfieldresidential.com/homebuyersschool/tag/selling-your-home) see all ### Latest Articles [![View customer stories](https://no-cache.hubspot.com/cta/default/3390596/5c60eef4-98e6-4cf2-9619-e134843821ab.png)](https://cta-redirect.hubspot.com/cta/redirect/3390596/5c60eef4-98e6-4cf2-9619-e134843821ab) ## Comments September 5, 2019 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [Mortgage pre-approval vs approval: What's the difference? (and why they're both important)](https://stories.brookfieldresidential.com/homebuyersschool/mortgage-pre-approval-vs-approval-whats-the-difference) What's the difference between a mortgage pre-approval and mortgage approval? What are criteria to get each? Who do you need to get approval from? In this episode, we discuss the di. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/mortgage-pre-approval-vs-approval-whats-the-difference) August 12, 2019 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [How does a mortgage work in Canada? (what you MUST know to buy a home)](https://stories.brookfieldresidential.com/homebuyersschool/how-does-a-mortgage-work-in-canada) In this episode of Homebuyer's School, we discuss how a mortgage actually works and all the elements involved when borrowing to buy a home. We explore a lien, what happens if you c. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/how-does-a-mortgage-work-in-canada) August 1, 2019 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [How does the mortgage approval process work in Canada? (and how to get approved fast!)](https://stories.brookfieldresidential.com/homebuyersschool/how-does-the-mortgage-approval-process-work-in-canada) Thinking about or ready to get a mortgage approval? What are the steps involved? What do you need to prepare? In this episode, we discuss how the mortgage approval works and the st. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/how-does-the-mortgage-approval-process-work-in-canada) May 6, 2019 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [What's the difference between an insured and conventional mortgage in Canada?](https://stories.brookfieldresidential.com/homebuyersschool/whats-the-difference-between-an-insured-and-conventional-mortgage-in-canada) Not sure which type of mortgage to get when buying your next home? What are the differences? In this episode, we discuss the different type of mortgages in Canada, specifically ins. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/whats-the-difference-between-an-insured-and-conventional-mortgage-in-canada) April 18, 2019 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [Can you use your RRSP to buy a home? (including when and how to do it)](https://stories.brookfieldresidential.com/homebuyersschool/can-you-use-your-rrsp-to-buy-a-home) In this episode, we discuss using your RRSP to buy a home, how much can you take out, and when can you do it. We also explore how/when you need to repay your RRSP, if you could use. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/can-you-use-your-rrsp-to-buy-a-home) April 11, 2019 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [What are the mortgage cosigner requirements in Canada? (can they help you afford a home?)](https://stories.brookfieldresidential.com/homebuyersschool/what-are-the-mortgage-cosigner-requirements-in-canada) The way it works is that all applicants would be applying for the mortgage, and then the debt would be shared equally among them so there's not really a percentage amount. They cou. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/what-are-the-mortgage-cosigner-requirements-in-canada) September 6, 2018 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [Mortgage stress test explained: Can you actually afford your next home?](https://stories.brookfieldresidential.com/homebuyersschool/mortgage-stress-test-explained) "The mortgage stress test is technically what we look at with the Bank of Canada has come back to the banks to look at extreme what-if scenarios to see what happens if, at a certai. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/mortgage-stress-test-explained) August 30, 2018 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [What to do next if your mortgage application is declined](https://stories.brookfieldresidential.com/homebuyersschool/what-to-do-next-if-your-mortgage-application-is-declined) Applying for a mortgage or trying to get pre-approved? Worried about getting declined? In this episode, we discuss what to do next if your mortgage application is denied and the im. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/what-to-do-next-if-your-mortgage-application-is-declined) May 3, 2018 - [Karl Yeh](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) ## [How do mortgage payments work in Canada? (with key tips home buyers must know)](https://stories.brookfieldresidential.com/homebuyersschool/how-do-mortgage-payments-work-in-canada) When buying a house, wondering how you pay down your mortgage? How much do you need to pay? How often? In this episode, we discuss how does mortgage payments work, how payments are. [Watch Now](https://stories.brookfieldresidential.com/homebuyersschool/how-do-mortgage-payments-work-in-canada) - - [Karl Yeh (41)](https://stories.brookfieldresidential.com/homebuyersschool/author/karl-yeh) - - ![Layer 25](https://stories.brookfieldresidential.com/hs-fs/hubfs/Layer%2025.png?width=1440&name=Layer%2025.png "Layer 25") ### Continue your education Join your fellow homebuyers to get the latest strategies and tips to help you find your perfect home. [![START LEARNING TODAY](https://no-cache.hubspot.com/cta/default/3390596/d2534dc5-4135-43dc-8ecc-4927f7f75bf0.png)](https://cta-redirect.hubspot.com/cta/redirect/3390596/d2534dc5-4135-43dc-8ecc-4927f7f75bf0) ### Resources Watch the latest home buying video so you’re prepared for your next home purchase. [![GET RESOURCES](https://no-cache.hubspot.com/cta/default/3390596/74647e5f-eeb3-4c2d-965e-01ec49d2b628.png)](https://cta-redirect.hubspot.com/cta/redirect/3390596/74647e5f-eeb3-4c2d-965e-01ec49d2b628) ### Latest Videos Watch the latest home buying video so you’re prepared for your next home purchase. 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