Access to 110+ lenders, and one advisor who explains every step. One application, compared across the market, built into a mortgage strategy, not just a rate.
Short video guides with the full written version alongside: renewals, lenders, default insurance, fixed vs variable, the stress test and refinancing, in plain English.
Payments, affordability, land transfer tax, renewals and refinancing, using semi-annual compounding, the stress test, CMHC premiums and Ontario and Toronto tax rates.
What will my payment be, and how much interest will I pay?
How much home can I qualify for with my income and down payment?
How much land transfer tax will I pay on closing, after rebates?
Should I sign my renewal letter, or compare it?
What happens if I roll higher-interest debt into my mortgage?
Agent Lic. #M22000988
patricia pinto
Mortgage Agent Level 2 · Sherwood Mortgage Group Inc. · Brokerage Licence #12176
An advisor in your corner, not a bank in your inbox.
I'm Patricia Pinto, a licensed Mortgage Agent Level 2 with Sherwood Mortgage Group Inc., serving buyers, owners and investors across Ontario (GTA + Durham Region). I built my practice on a simple idea: a mortgage should be a strategy, not a product sold off a shelf.
Instead of one bank's single offer, I take your file to 110+ lenders and negotiate the structure that fits your goals, then stay with you from the first call through to funding day.
Mobile(647) 655-1423
Emailppinto@sherwoodmortgagegroup.com
Agent licence#M22000988
Brokerage licence#12176 · Sherwood Mortgage Group Inc.
Backed by an award-winning brokerageSherwood Mortgage Group: Canadian Mortgage Awards, Brokerage of the Year winner.
Client reviews
5.0 stars, and every one earned.
Real Ontario clients (first-time buyers, renewers and business owners) who compared instead of settling.
★★★★★5.0
I’ve worked with Patricia Pinto for many years and she recently managed a refinance that significantly lowered my monthly payments and increased my financial flexibility. Her deep lender relationships and market knowledge allowed her to present life-changing options tailored to my situation. Patricia explains everything clearly, responds promptly, and provides steady financial advice that I still depend on today. She has also helped several of my family members — we’ve all been impressed by her professionalism and results. Exceptional service and highly recommended.
VBVidyia B.Google review · Refinance”
★★★★★5.0
Patricia was an absolute lifesaver during my mortgage process! From start to finish, she was patient, knowledgeable, and always made me feel like I was her top priority. She explained everything in plain English, answered my (many) questions right away, and even found solutions I didn’t think were possible. What I really appreciated is how she went above and beyond, not just getting me a great rate, but making the entire experience stress-free. I never felt rushed or pressured, just supported every step of the way. If you’re looking for someone who genuinely cares and will fight to get you the best outcome, Patricia is it. I can’t recommend her enough!
JKJohnny K.Google review · Local Guide”
★★★★★5.0
Patricia was fantastic to work with. Despite challenges with lenders, she was able to secure financing quickly and keep the process moving smoothly. She was responsive, clear, and proactive every step of the way, which made a potentially stressful situation feel manageable. I always felt supported and confident that my file was in good hands. Highly recommend Patricia if you need someone who can move fast and get results.
In most cases, no. I'm typically paid a finder's fee by the lender once your mortgage funds, not by you. If a file ever requires a fee (some private or complex deals), I tell you up front and in writing before any work begins.
Your bank can only offer its own products. As a licensed Mortgage Agent Level 2 with Sherwood Mortgage Group (Brokerage Lic. #12176), I take one application and compare it across 110+ lenders (banks, monolines, credit unions and alternative lenders) so your file competes for the best combination of rate and terms.
A single credit check has a small, temporary effect. I only pull your credit once and use that same report to shop multiple lenders, so you're not dinged repeatedly. I'll always ask before running it.
In Canada the minimum is 5% on the first $500,000, 10% on the portion from $500,000 to $1,500,000. Homes priced at $1.5 million or more need 20% of the full price. Under 20% down requires default (CMHC-type) insurance, which is added to your mortgage.
Lenders must qualify you at the greater of your contract rate plus 2% or 5.25%. It confirms you could still afford payments if rates rise. The affordability calculator applies this automatically.
Absolutely. Business owners just need the right lender and the right documentation strategy. I know which lenders understand self-employed income and how to present your file so it gets approved.
A pre-approval snapshot can often be done within a day of receiving your documents. Full approval timing depends on the lender and your file, but I keep things moving and keep you updated at every step.
Video guide · Renewals
Mortgage renewal: how to avoid just signing what your bank sends you
Renewal is your best chance in years to get a better deal. Here's how to make the most of it.
By Patricia Pinto, Mortgage Agent Level 24 min read1:02 video
Watch: Mortgage renewal: don't just sign the first offer · 1:02
Transcript
Your mortgage renewal is one of the best chances you'll get to save money. Here's how to make the most of it. Your term is how long your rate is locked in. Your amortization is the total time it takes to pay off your mortgage. With a five-year term and a twenty-five-year amortization, you'd have twenty years left at your first renewal. At renewal, you can switch lenders with no penalty. And if you keep the same balance and amortization, you usually won't need to pass the stress test again. That matters. On a four hundred thousand dollar balance with twenty years left, a rate just half a percent lower means about a hundred and five dollars less every month. That's over six thousand dollars across a five-year term. So start about four months early. Review your goals. Then compare before you sign. Patricia Pinto compares your offer against more than a hundred and ten lenders, and handles the switch if it saves you money. Book your free renewal review today.
Renewal is your best chance in years to get a better deal. Yet many people simply sign the offer that arrives in the mail.
Why renewal matters
You're free to shopAt the end of your term, you can switch lenders without a penalty.
No new stress test for a straight switchIf you keep the same loan amount and amortization, you generally don't need to qualify again.
The first offer isn't always the bestYour lender's renewal offer may not be its best rate, or the best rate in the market.
It's a chance to resetYou can change your term or rate type, or combine it with a refinance if you need funds.
How it works
Start about 4 months earlyMany lenders let you renew or lock in a rate up to about 120 days before your maturity date.
Review your goalsWill your payment go up, and can your budget handle it? Has your income or family situation changed? Are you planning renovations or a move?
Compare the marketPatricia compares your lender's offer with 110+ lenders. If switching saves you money, she handles the paperwork.
Sign before your maturity dateThis avoids being rolled into a default term you didn't choose.
What half a percent is worth
On a $400,000 balance with 20 years left, 3.99% instead of 4.49% is about $105 less every month, or more than $6,300 over a five-year term. (Illustrative: fixed rates, monthly payments, semi-annual compounding. Your rate and savings will vary.)
Take the next step
Renewing in the next six months?
Send your renewal offer to Patricia Pinto, Mortgage Agent Level 2, for a free second opinion.
Patricia Pinto, Mortgage Agent Level 2, Licence #M22000988. Sherwood Mortgage Group Inc., Brokerage Licence #12176. This article is general information, not financial advice. Rates, rules and eligibility change and are subject to lender approval (O.A.C.).
A, B, or private? How mortgage lenders in Canada differ
Not every mortgage comes from a big bank. Knowing the three main types of lenders helps you understand your options.
By Patricia Pinto, Mortgage Agent Level 24 min read0:58 video
Watch: A, B, or private? How mortgage lenders differ · 0:58
Transcript
Not every mortgage comes from a big bank. In Canada, lenders fall into three groups, and knowing the difference can open doors. A-lenders are the big banks and major lenders. They offer the lowest rates, but they have the strictest rules on credit, income and debt. B-lenders, like trust companies, are more flexible. They can help with bruised credit or self-employed income. Rates are a bit higher, often with a lender fee and a shorter term. Private lenders focus mainly on your home's equity. They're fast and flexible, but they're the most expensive, so they work best as a short-term bridge. The key is a plan: use the right lender today, then move to a lower-cost lender as your situation improves. Patricia Pinto compares more than a hundred and ten lenders across all three groups. Book a call to find the right fit.
Not every mortgage comes from a big bank. Knowing the three main types of lenders helps you understand your options, especially if a bank has already said no.
The three types of lenders
A-lenders (the big banks and major lenders)These offer the lowest rates, but they have the strictest rules. They want strong credit, income that is easy to prove, and debt within set limits.
B-lenders (alternative lenders)These are usually trust companies and some credit unions. They're more flexible about bruised credit, self-employed income, or higher debt. Rates are somewhat higher, there's usually a lender fee, and terms are often 1 to 3 years.
Private lendersThese are individuals or private companies that lend mainly based on the property's value and equity. They're the most flexible and the fastest, but also the most expensive. They're meant for the short term.
How it works
Start with the full pictureWe look at your income, credit, down payment or equity, and goals. That shows which type of lender is realistic today.
Compare across lendersThrough Sherwood Mortgage Group, Patricia can compare 110+ lenders across all three types. You're not limited to one bank's products.
Plan your exitIf a B or private mortgage is the right fit now, we plan how you'll move to a lower-cost lender later: improving your credit, building a longer income history, or growing your equity.
Is a B-lender or private lender a bad sign?
Not at all. Many homeowners use one as a bridge. The key is knowing what it costs, how long you'll need it, and how you'll move on.
Take the next step
Not sure which type of lender fits you?
Book a call with Patricia Pinto, Mortgage Agent Level 2, for a no-pressure review.
Patricia Pinto, Mortgage Agent Level 2, Licence #M22000988. Sherwood Mortgage Group Inc., Brokerage Licence #12176. This article is general information, not financial advice. Rates, rules and eligibility change and are subject to lender approval (O.A.C.).
What is CMHC insurance? Mortgage default insurance, explained
If you're buying with less than 20% down, you'll hear the term “CMHC insurance.” Here's what it is, who it protects, and what it costs.
By Patricia Pinto, Mortgage Agent Level 24 min read0:58 video
Watch: What is CMHC insurance? · 0:58
Transcript
Buying a home with less than twenty percent down? Then you'll need mortgage default insurance, often called CMHC insurance. It protects the lender, not you, if a borrower stops paying. In return, you can buy with as little as five percent down, and insured mortgages often get some of the best rates. The minimum down payment is five percent of the first five hundred thousand dollars, and ten percent of the rest, on homes up to one point five million. The premium depends on your down payment. With five percent down, it's four percent of the mortgage. With fifteen percent down, it drops to two point eight percent. It's usually added to your mortgage. In Ontario, there's also sales tax on the premium, and that's paid in cash at closing. Not sure whether to wait for twenty percent down, or buy sooner? Patricia Pinto can run both scenarios with you.
If you're buying with less than 20% down, you'll hear the term “CMHC insurance.” Here's what it is, who it protects, and what it costs.
The basics
What it isMortgage default insurance is required when your down payment is under 20%. It's offered by CMHC, Sagen, and Canada Guaranty.
Who it protectsIt protects the lender, not you, if a borrower stops paying. You pay the premium, but in return you can buy with as little as 5% down.
A hidden upsideBecause the lender's risk is lower, insured mortgages often get some of the best rates available.
Price limitInsured mortgages are available on homes up to $1.5 million that you'll live in as your main residence.
What does it cost?
Your down payment
Premium
5% to 9.99% down
4.00%
10% to 14.99% down
3.10%
15% to 19.99% down
2.80%
The premium is a percentage of your mortgage amount. Choosing a 30-year amortization, available to first-time buyers and buyers of new builds, adds about 0.20%. The premium is usually added to your mortgage. In Ontario, provincial sales tax on the premium must be paid in cash at closing.
How it works
Check that you qualifyThe minimum down payment is 5% of the first $500,000, plus 10% of the portion between $500,000 and $1.5 million. On a $750,000 home, that's $25,000 + $25,000 = $50,000.
Your lender arranges itThe insurance is set up as part of your mortgage approval, so there's no separate application.
Budget for the sales taxWe include the sales tax on the premium in your closing costs so there are no surprises.
Example
On a $500,000 home with 5% down, the mortgage is $475,000 and the premium is $19,000 (4.00%). With 15% down, the mortgage is $425,000 and the premium drops to $11,900 (2.80%).
Take the next step
Wait for 20% down, or buy sooner?
Patricia Pinto, Mortgage Agent Level 2, can run both scenarios with you.
Patricia Pinto, Mortgage Agent Level 2, Licence #M22000988. Sherwood Mortgage Group Inc., Brokerage Licence #12176. This article is general information, not financial advice. Rates, rules and eligibility change and are subject to lender approval (O.A.C.).
Fixed or variable? How to choose your mortgage rate
It's one of the biggest choices you'll make with your mortgage. Here's how each option works and who it tends to suit.
By Patricia Pinto, Mortgage Agent Level 24 min read0:55 video
Watch: Fixed or variable? How to choose · 0:55
Transcript
Fixed or variable? It's one of the biggest choices you'll make with your mortgage, and there's no single right answer. With a fixed rate, your rate stays the same for the whole term. Your payment is predictable, which makes budgeting easy. A variable rate moves with your lender's prime rate. When prime goes down, you pay less interest. When it goes up, you pay more. Some variable mortgages keep the same payment and change how much goes to principal. Others adjust the payment itself. Penalties differ too. Breaking a variable mortgage usually costs about three months' interest. Breaking a fixed one can cost much more. The right choice depends on your budget, your plans, and how much change you're comfortable with. Patricia Pinto can compare both across more than a hundred and ten lenders.
Fixed or variable is one of the biggest choices you'll make with your mortgage, and there's no single right answer. The best choice depends on your budget, your plans, and how much change you're comfortable with.
How they compare
Fixed rateYour rate stays the same for the whole term, usually 1 to 5 years. Your payment is predictable, which makes budgeting simple.
Variable rateYour rate moves with your lender's prime rate, which usually follows the Bank of Canada's policy rate. When prime goes down, you pay less interest. When it goes up, you pay more.
Two kinds of variableWith a fixed-payment variable mortgage, your payment stays the same and the split between principal and interest changes. With an adjustable-rate mortgage, the payment itself changes when prime does.
Penalties are differentBreaking a variable mortgage early usually costs about three months' interest. Breaking a fixed mortgage is often the greater of three months' interest or the interest rate differential (IRD), which can be much higher.
How to decide
Check your budgetCould you handle a higher payment if rates rose? If a surprise would strain your budget, the certainty of a fixed rate may be worth it.
Think about your plansIf you might sell, move or refinance before the term ends, the smaller penalty on a variable mortgage can matter more than the rate.
Compare real offersPatricia compares fixed and variable options across 110+ lenders, including penalty rules and prepayment privileges, not just the rate.
Ask about switching laterMany lenders let you convert a variable mortgage to a fixed one during the term. Ask how it works before you sign.
The rate isn't everything
Two mortgages with the same rate can cost very different amounts to break. Before choosing, ask how the penalty is calculated, how much you can prepay each year, and whether you can take the mortgage with you if you move (portability).
Take the next step
Not sure which fits you?
Patricia Pinto, Mortgage Agent Level 2, can compare fixed and variable options side by side.
Patricia Pinto, Mortgage Agent Level 2, Licence #M22000988. Sherwood Mortgage Group Inc., Brokerage Licence #12176. This article is general information, not financial advice. Rates, rules and eligibility change and are subject to lender approval (O.A.C.).
Even with a great rate, you have to show you could afford a higher one. Here's how the stress test works and what it means for your budget.
By Patricia Pinto, Mortgage Agent Level 24 min read0:53 video
Watch: The mortgage stress test, explained · 0:53
Transcript
Even if a lender offers you a great rate, you have to show you could afford a higher one. That's the mortgage stress test. Most lenders qualify you at the higher of five point two five percent, or your contract rate plus two percent. So if your rate is four percent, you qualify as if it were six. That lowers how much you can borrow, but it protects you if rates rise. Lenders also check your debt ratios: how much of your income goes to housing costs, and to all your debts combined. You can improve the picture by paying down debts or adding a co-borrower. And at renewal, a straight switch to a new lender usually doesn't need a new stress test. Want to know your real budget before you start shopping? Patricia Pinto can run the numbers with you.
Even if a lender offers you a great rate, you have to show you could afford a higher one. That's the mortgage stress test. It lowers how much you can borrow, but it's designed to protect you if rates rise.
The basics
The qualifying rateMost lenders qualify you at the higher of 5.25% or your contract rate plus 2%. For uninsured mortgages, this is set by OSFI, the federal banking regulator, which confirmed it again in January 2026. Insured mortgages use the same test.
A 4% rate is tested at 6%If your contract rate is 4%, you'll qualify as if it were 6%. That lowers the maximum you can borrow.
Debt ratiosLenders also look at how much of your gross income goes to housing costs (GDS) and to all your debts combined (TDS). Common limits for insured mortgages are 39% and 44%, and each lender sets its own.
Switching at renewalAt renewal, a straight switch to a new lender, with the same balance and amortization, usually doesn't need a new stress test.
How to improve your numbers
Pay down debtsPaying off a car loan or a credit card balance lowers your TDS and can raise what you qualify for.
Add a co-borrowerA spouse, partner or family member on the application adds income. Their debts count too.
Look at the amortizationA longer amortization lowers the payment used in the calculation. First-time buyers and buyers of new builds may qualify for a 30-year amortization on an insured mortgage.
Get pre-approvedPatricia can run your numbers across 110+ lenders before you shop, so you know your real budget.
Why it exists
The stress test builds in a buffer. If rates are higher when your term ends, you've already shown you can handle a bigger payment.
Take the next step
Know your budget before you shop
Patricia Pinto, Mortgage Agent Level 2, can run the numbers with you.
Patricia Pinto, Mortgage Agent Level 2, Licence #M22000988. Sherwood Mortgage Group Inc., Brokerage Licence #12176. This article is general information, not financial advice. Rates, rules and eligibility change and are subject to lender approval (O.A.C.).
Refinancing: how to turn your home equity into cash
Your home may be worth a lot more than you owe. Here's how much you can usually access, and the three main ways to do it.
By Patricia Pinto, Mortgage Agent Level 24 min read0:54 video
Watch: Refinancing: using your home equity · 0:54
Transcript
Your home may be worth a lot more than you owe. Refinancing lets you turn some of that equity into cash. In Canada, you can usually borrow up to eighty percent of your home's value, minus what's left on your mortgage. For example, on a home worth eight hundred thousand dollars with four hundred thousand owing, you could access up to two hundred and forty thousand. People use it to renovate, pay off high-interest debt, or help with a down payment on another property. You can refinance your mortgage, add a home equity line of credit, or use a second mortgage. Refinancing mid-term can mean a penalty, so timing it with your renewal often costs less. Thinking about using your equity? Patricia Pinto can compare your options and show you the full cost.
If your home has gone up in value, or you've paid your mortgage down, you've built equity. Refinancing lets you turn some of it into cash for a renovation, to pay off high-interest debt, or to help buy another property.
How much can you access?
Up to 80% of your home's valueWith most lenders, your total borrowing on the home can be up to 80% of its appraised value. What you can access is that amount, minus what you still owe.
At least 20% stays as equityMost refinances can't use mortgage default insurance, so lenders cap borrowing at 80%.
You'll need to qualifyA refinance is a new mortgage, so the stress test and debt ratios apply, and the lender will usually order an appraisal.
Three ways to do it
Refinance your mortgageReplace your mortgage with a larger one, up to 80% of your home's value. You get one rate and one payment.
Home equity line of credit (HELOC)A revolving credit line you draw on as needed. The revolving portion can be up to 65% of your home's value, and up to 80% when combined with a mortgage.
Second mortgageKeep your first mortgage in place and add a second loan behind it. It usually costs more, but it can make sense if breaking your first mortgage would mean a large penalty.
Time it wellRefinancing mid-term can mean a prepayment penalty. Lining it up with your renewal often costs less.
Example
On an $800,000 home with $400,000 owing, 80% of the value is $640,000. Minus the $400,000 balance, you could access up to $240,000, subject to qualifying and an appraisal.
Take the next step
Thinking about using your equity?
Patricia Pinto, Mortgage Agent Level 2, can compare your options and show you the full cost.
Patricia Pinto, Mortgage Agent Level 2, Licence #M22000988. Sherwood Mortgage Group Inc., Brokerage Licence #12176. This article is general information, not financial advice. Rates, rules and eligibility change and are subject to lender approval (O.A.C.).
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Agent Lic. #M22000988
