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Ontario Canada · CMP Top 75 · 2024

Mortgage Insights

Specialist in self-employed, incorporated, and investor mortgage financing. If your file is complex, your income is variable, or your bank already said no, this is the right place to start.

Carina Shnorhokian, Mortgage Agent Level 2
Carina Shnorhokian
Mortgage Agent Level 2 · FSRA M22002878
Featured Article
Mortgage renewal Ontario
Featured · June 2026
Carina Mortgages
Renewals

Your Mortgage Renews in 2025 or 2026. Here Is Exactly What to Do Before You Sign Anything.

Over one million Canadian homeowners are facing renewals at significantly higher rates. Most will accept the first offer from their bank. Here is what that decision actually costs.

Carina Shnorhokian·June 9, 2026·5 min read

Recent Articles

Incorporated mortgage Ontario
CMCarina Mortgages
Self Employed

Incorporated in Ontario? Here Is How Your Business Structure Affects Your Mortgage Approval.

Most lenders assess incorporated borrowers differently than salaried employees. Net income, add-back income, and retained earnings all play a role depending on your structure.

June 2, 2026
First time home buyer
CMCarina Mortgages
First Time Buyers

The FHSA and RRSP Home Buyers Plan in 2026: How to Stack Both and Maximize Your Down Payment.

The FHSA and RRSP Home Buyers Plan can be combined. Here is the actual math on how much you can pull forward.

May 26, 2026
Variable vs fixed rate
CMCarina Mortgages
Rate Watch

Variable or Fixed in 2026: The Real Numbers Behind the Decision Nobody Talks About.

Variable is lower today. Fixed gives you certainty. Here is the breakeven analysis I walk every client through.

May 19, 2026
Investment property Ontario
CMCarina Mortgages
Investors

How to Finance Your Second Property in Ontario Without Derailing Your Primary Mortgage.

Adding a rental property requires a specific strategy. Here is how rental offset income works and which lenders are investor friendly.

May 12, 2026
Self employed mortgage Canada
CMCarina Mortgages
Self Employed

Less Than Two Years Self Employed in Canada? You Have More Options Than Your Bank Is Telling You.

Banks often decline self-employed applicants with fewer than 24 months of history. Alternative lenders exist for exactly this situation.

May 5, 2026
Bank statement mortgage Canada
CMCarina Mortgages
Self Employed

Your Bank Deposits Can Qualify You for a Mortgage. Here Is How B Lenders Use Bank Statement Income.

If your tax returns do not reflect what you actually earn, bank statement income qualifying may be the solution. Here is how it works.

April 14, 2026
From the desk of Carina
CMCarina Mortgages
From the Desk

From the Desk of Carina: What I Am Watching in the Market This Summer and What It Means for You.

Rate announcements, lender policy shifts, and what I have been seeing on the ground across Ontario files this season.

April 28, 2026
Home equity refinancing Ontario
CMCarina Mortgages
Refinancing

How to Access Your Home Equity in Ontario: Refinancing, HELOCs, and When Each One Makes Sense.

Significant equity sitting in your home can be put to work. Here is exactly how a refinance and a HELOC differ and when each one is the right tool.

June 5, 2026
Mortgage penalty IRD Ontario
CMCarina Mortgages
Renewals

Why Breaking Your Bank Mortgage Costs So Much, and How to Avoid It.

IRD penalties at the major banks can reach $25,000 on a standard Ontario mortgage. Here is exactly why, and how to structure your mortgage to avoid this.

May 30, 2026
HELOC home equity line of credit
CMCarina Mortgages
Investors

What Is a HELOC and Why Every Property Investor in Ontario Should Understand One.

A Home Equity Line of Credit is one of the most powerful tools available to Ontario investors. Here is how it works and how to use it to build a portfolio.

May 22, 2026
Credit score mortgage qualification
CMCarina Mortgages
First Time Buyers

Your Credit Score and Your Mortgage: What the Minimum Numbers Actually Are by Lender Type.

A lenders, B lenders, and private lenders all have different thresholds. Here is the clear breakdown and what to do in the 6 months before you apply.

May 15, 2026
Non-resident Canadian mortgage abroad
CMCarina Mortgages
Self Employed

Canadian Living Abroad? Here Is How to Get a Mortgage in Canada When You File Taxes in Another Country.

Non-residents face a 35% down payment requirement, foreign income verification, and different lender eligibility. Here is exactly how it works.

June 7, 2026
More articles in this category coming soon.

Mortgage Calculators

Min 5% under $500K, 10% on $500K-$999K portion
Payment
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Mortgage Amount
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Total Interest
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Over full amortization
Total Cost
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Uses Canadian semi-annual compounding. Results are estimates for planning purposes only. Contact Carina at 647-400-6040 for a full qualification analysis.
Car loans, student loans, credit card minimums
Max Purchase Price
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Max Mortgage
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Qualifying Rate
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Stress test: contract rate + 2%
GDS / TDS
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Max limits: 39% / 44%
Applies the OSFI mortgage stress test. Self-employed income qualifies differently. Contact Carina at 647-400-6040 for a precise qualification on your specific income type.
Ontario LTT Rates
0.5% on first $55K
1.0% on $55K to $250K
1.5% on $250K to $400K
2.0% on $400K to $2M
2.5% over $2M

First-Time Buyer Rebates
Ontario: up to $4,000
Toronto: up to $4,475
Ontario LTT
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First-Time Buyer Rebate
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Toronto Municipal LTT
N/A
Total Land Transfer Tax
--
Consult a real estate lawyer for exact LTT before closing. Non-resident speculation tax (NRST) may apply separately for foreign buyers. Toronto Municipal LTT applies within City of Toronto boundaries only.
Min 5% required. CMHC not available over $1.5M purchase price.
CMHC Premium Rates
5% to 9.99% down: 4.00%
10% to 14.99% down: 3.10%
15% to 19.99% down: 2.80%
20% or more: No CMHC
Down Payment
--
CMHC Premium Rate
--
CMHC Premium
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Added to your mortgage balance
Total Insured Mortgage
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CMHC insurance is required when the down payment is less than 20%. The premium is added to your mortgage and amortized over your full term. PST on the premium (8% in Ontario) is due at closing and cannot be added to the mortgage.
The rate lenders are offering today for your remaining term length
3-Month Interest Penalty
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IRD Estimate
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Lender Applies
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Banks charge the higher of both
Estimated Penalty
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This is an estimate only. Bank IRD calculations using posted rates can produce penalties 2 to 3 times higher than this estimate. Always request the exact penalty figure from your lender in writing. Contact Carina at 647-400-6040 before breaking any mortgage.

About Carina

Carina Shnorhokian
CMP Top 75Mortgage Professional in Canada
Canadian Mortgage Professional Magazine · 2024
Mortgage Agent Level 2 · FSRA Lic. M22002878

Carina Shnorhokian

I am a Mortgage Agent Level 2 licensed with DLC FC Funding, serving clients across Ontario. My practice is built around the files most agents find difficult: self-employed borrowers, incorporated business owners, investors financing second and third properties, and clients whose bank has already said no.

Recognized by Canadian Mortgage Professional magazine as one of Canada's Top 75 Mortgage Professionals in 2024, I focus on finding the right lender for your specific situation rather than the easiest path to a commission. With over 15 years of client relationships, I work across purchase, renewal, refinance, and complex income structures.

I am also a licensed real estate agent in Florida, serving cross-border clients and Canadians investing in the US market through Carina Sells Florida.

15+
Years Experience
Top 75
CMP Canada 2024
2
Licensed Markets

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