Best Mortgage Lawyers in Toronto

Share your needs with us, get contacted by law firms.

Free. Takes 2 min.

Free Guide to Hiring a Real Estate Lawyer

Toronto, Canada

Founded in 2014
English
MC Law Firm | Abogados, established in 2014, is a pioneering boutique law firm based in Toronto, Canada, specializing in providing comprehensive legal services in both Mexican and Canadian law. As the first firm of its kind, it offers expert guidance in Spanish and English to individuals and...

Founded in 2016
English
Gangani & Gangani - Barristers and Solicitors is a distinguished law firm based in Scarborough, Ontario, specializing in transactional real estate and corporate/commercial law. The firm offers comprehensive services including drafting and reviewing agreements, condominium status certificate...

Founded in 2005
English
Payne Law Professional Corporation, located in North York, Ontario, is a distinguished law firm specializing in civil litigation, employment law, real estate disputes, tax law, and mediation services. Led by founder and CEO Yan David Payne, a Certified Specialist in Civil Litigation as designated...
Top Law Firm
Toronto, Canada

Founded in 2005
English
Top Law Firm, based in Ontario, Canada, specializes in comprehensive real estate legal services, including home purchases and sales, mortgage refinancing, private lending, and mortgage enforcement. Established in 2005, the firm has built a reputation for guiding clients through complex real estate...

Founded in 2020
English
Green Economy Law Professional Corporation, established in 2020 and based in Toronto, Ontario, is a boutique law firm dedicated to addressing critical societal challenges through legal expertise. The firm specializes in providing comprehensive legal services in areas such as green business...

Founded in 2021
English
Sarju Eliyas Law Professional Corporation, located in Scarborough, Ontario, offers a comprehensive range of legal services tailored to meet the diverse needs of its clientele. The firm's areas of practice include real estate transactions, corporate law, immigration law, and estate planning. By...

English
Wei Wang Law Firm, located in North York, Ontario, specializes in family law, real estate law, and personal legal services. Led by Wei Wang, a licensed Barrister and Solicitor in Ontario and a Notary Public, the firm offers comprehensive legal solutions tailored to meet the unique needs of each...

Founded in 1983
English
Sun & Partners Professional Corporation, located in North York, Ontario, is a forward-thinking law firm dedicated to providing tailored legal solutions for medium-sized companies, international businesses, and individual entrepreneurs. Established in 1983, the firm offers a comprehensive range of...

English
Felipe Ramirez-Joubert Law Office, located in Toronto, Ontario, offers a comprehensive range of legal services tailored to meet the diverse needs of its clientele. The firm's practice areas include real estate transactions, family law, wills and estates, corporate law, and notarial services. With a...

Founded in 2012
English
Duensing Law, located in Toronto, Ontario, offers comprehensive legal services in wills and succession planning, probate and estate administration, estate litigation, and real estate law. The firm is led by Matthias Duensing, a versatile lawyer with a focus on wills, trusts, estates, and real...
AS SEEN ON

About Mortgage Law in Toronto, Canada

Mortgage law in Toronto, Canada governs the legal aspects of borrowing money to finance the purchase of property. It is essential to understand the rights and obligations associated with a mortgage to protect your interests. Whether you are a first-time homebuyer or a seasoned investor, having a solid understanding of mortgage law is important.

Why You May Need a Lawyer

There are several situations where you may need legal help in the field of mortgage. Some common examples include:

  • Reviewing mortgage agreements to ensure your interests are protected
  • Negotiating mortgage terms with lenders
  • Resolving disputes with mortgage lenders or borrowers
  • Navigating foreclosure proceedings
  • Seeking advice on mortgage refinancing or restructuring

Local Laws Overview

When dealing with mortgages in Toronto, Canada, it is important to be aware of several key aspects of the local laws, including:

  • Toronto real estate laws and regulations
  • Provincial laws governing mortgages and property transactions
  • Consumer protection laws
  • Foreclosure laws and processes
  • Regulations specific to mortgage lenders and brokers

Frequently Asked Questions

Q: What is the minimum down payment required for a mortgage in Toronto?

A: In most cases, the minimum down payment required is 5% of the purchase price for homes valued up to $500,000. For homes valued between $500,000 and $1 million, the minimum down payment is 5% of the first $500,000 and 10% of the remaining amount.

Q: What is mortgage default insurance?

A: Mortgage default insurance, also known as CMHC insurance, is required for homebuyers who have a down payment of less than 20%. This insurance protects the lender in case the borrower defaults on their mortgage payments.

Q: Can I negotiate the terms of my mortgage with the lender?

A: Yes, you can negotiate certain terms of your mortgage with the lender, such as the interest rate, repayment schedule, prepayment penalties, and more. It is advisable to seek legal advice before entering into any negotiations.

Q: What are the potential consequences of mortgage default?

A: If you default on your mortgage payments, the lender may initiate foreclosure proceedings, which could result in the sale of your property to recover the outstanding debt. This can have serious implications for your credit and future ability to obtain loans.

Q: When should I consider refinancing my mortgage?

A: Refinancing your mortgage may be a good option if you want to secure a lower interest rate, consolidate debts, access equity in your home, or change the terms of your loan. Consulting with a lawyer can help you evaluate whether refinancing is the right decision for you.

Additional Resources

If you need further legal advice or information regarding mortgages, consider reaching out to the following resources:

  • Ontario Bar Association - https://www.oba.org/
  • Canada Mortgage and Housing Corporation - https://www.cmhc-schl.gc.ca/en/
  • Real Estate Lawyers Association of Ontario - https://www.realproperty.ca/

Next Steps

If you require legal assistance for mortgage-related matters, it is advisable to consult with a qualified and experienced lawyer specializing in mortgage law. They can provide personalized advice and guide you through the process to ensure your rights and interests are protected.

Lawzana helps you find the best lawyers and law firms in Toronto through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Mortgage, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Toronto, Canada - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.