Rick Sekhon Mortgage Broker

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Mississauga, ON
Rick Sekhon Mortgage Broker

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Licensed Mortgage Broker in Toronto · 25+ years. Renewals, debt relief, multiplexes, rental suites and reverse mortgages for Ontario homeowners.

Rates from over 70 lenders. Text 416-473-9598 · ricksekhon.com Rick Sekhon is a Mississauga and surrounding GTA area mortgage broker. Ranked as one of CMP’s top 15 Mortgage Brokers by volume. He is focused on delivering the homeowner the lowest possible mortgage rates and best mortgage products available by shopping at over 30 major banks and lenders. Rest assured you are in good hands with Rick Sekhon and his GTA Mortgage Experts team. Located in the heart of Mississauga we pride ourselves in superior customer service and our product knowledge.

11/03/2026

You worked hard for that income. Make sure your mortgage application reflects it.

Self-employed? Your tax return may not tell the whole story.

Certain expenses you’ve deducted — including eligible vehicle costs, home-office expenses and depreciation — may be added back when lenders calculate your qualifying income.

That could change what you qualify for.

Before accepting a mortgage decline or a higher rate, let’s look at your real numbers.

Book your 15-minute Add-Back Check.

I’ll review your last two years of tax returns and identify potential income add-backs lenders may recognize.

📩 DM “ADD-BACK” to book your review.

11/02/2026

Before you accept a higher mortgage rate, make sure someone has looked at the whole picture.

You’re running a successful business. Your financial statements are strong. But your personal tax return tells a different story.

That doesn’t automatically mean you belong with an alternative lender.

I look beyond the bottom line.

Eligible income add-backs. Corporate financials. Lender-specific programs. Opportunities that aren’t always obvious on a tax return.

Sometimes alternative lending is the right solution. But it shouldn’t be the first solution without exploring the others.

That’s where experience and strategy matter.

Your business deserves more than a surface-level review.

📩 DM “REVIEW” before you buy, refinance or renew. Let’s see what your numbers actually support.

10/28/2026

If you bought your home in 2021 or 2022, your renewal letter may be sitting on the counter right now. And the new payment may be the biggest jump you've seen in years.

Please don't sign it yet.

Send me your renewal letter. If I can't do better, I'll tell you to sign it. That's my promise.

What most people need at renewal isn't just a rate. It's cash flow relief. Right now a switch at renewal may reset your mortgage to a 25-year amortization, with a 5-year fixed from 4.59% and your rate held for 90 days.

Here's what that can look like. Say you have $500,000 left with 20 years to go. Renew at a big bank's standard 5-year fixed of 5.14% and the payment is about $3,324 a month. Switch at 4.59% and reset to 25 years, and it's about $2,792. That's about $531 a month back in your pocket, or about $31,900 over a 5-year term (illustration). The card shows the reset alone at 4.59%: about $3,176 down to about $2,792, or about $383 a month. A longer amortization does mean more interest over time, so we look at the whole picture together.

Not sure how to extend your amortization, or whether you even can? That's exactly what a 15-minute call is for. Pick a time that suits you (link in the first comment), or text me anytime at 416-473-9598.

5-year fixed. Switches at renewal, original purchase price under $1M. Big-bank rate: standard 5-year fixed, Canadian Mortgage Trends, Oct 7, 2026. Rates may change without notice. Estimates only. OAC. Not every application qualifies.
Rick Sekhon, Mortgage Broker (M08009007) · Real Mortgage Associates Inc. · FSRA Lic. #10464

10/28/2026

It's official: the Bank of Canada raised its rate this morning by a quarter point, to 2.50%.

If you have a line of credit, a HELOC or a variable mortgage, this one reaches you. Those follow prime, and prime usually moves with the Bank. On $100,000 of line of credit, a quarter point is about $21 a month more in interest. On a $500,000 variable mortgage with an adjustable payment, about $67 a month more (illustration, 25-year amortization).

If you have a fixed mortgage, take a breath. Nothing changed for you today. Fixed rates follow the bond market, not this announcement, but they can still move without notice.

So if you're buying in the next few months, or renewing soon, this is a good week to hold a rate:

Buying, or want a pre-approval before you start looking? A 5-year fixed from 4.69%, and your rate may be held for up to 120 days. That's four months of shopping with your number held.

Renewing and open to switching lenders? A 5-year fixed from 4.59%, held for up to 90 days.

And if your line of credit has been creeping up, please don't beat yourself up. A floating balance was never built to be paid off. In many cases it can be moved into a payment that's fixed and has an end date.

Text or call me anytime at 416-473-9598. No pressure, just straight answers.

4.69%: high-ratio (less than 20% down), owner-occupied purchases, maximum purchase price $1.5M. 4.59%: switches, original purchase price under $1M. Rates may change without notice. Estimates only. OAC. Not every file qualifies.
Rick Sekhon, Mortgage Broker (M08009007) · Real Mortgage Associates Inc. · FSRA Lic. #10464

10/26/2026

Four units is a home loan. Five is a business.

Last week's post was the fourplex with 10% down. A few of you asked the next question: what if we went bigger?

Here's the line. Up to four units is still a residential mortgage. You qualify on your income plus part of the rent, and if you live in one of the units, an insured mortgage may need as little as 5% to 10% down.

At five units, the lender underwrites the building first. Its rents, its expenses, its condition. Your income still matters, but the building's own income carries most of the weight. That's commercial, multi-unit lending, and it's a different lane, not a locked door.

Here's the play most buyers never hear about.

1. Buy and build on private or construction money. It's short term and priced for speed, with fees. It's the bridge, not the destination.

2. Line up the CMHC take-out before you break ground. The program is CMHC's MLI Select, for rental buildings of five units or more that commit to affordability, energy efficiency or accessibility. A project needs at least 50 points. In my practice, that approval is arranged first, so the exit exists before the first construction draw.

3. On completion, refinance into MLI Select. On new construction that may be up to 95% of cost, with amortizations of up to 40, 45 or 50 years depending on the points. On an existing building it's up to 85% of value at 50 points and up to 95% at 70 or more. Longer amortization means a lower payment, which is how a building that wouldn't carry itself over 25 years sometimes does over 40.

What CMHC wants to see from you: a net worth of at least 25% of the loan, and at least $100,000. Five years of experience managing rentals, or a professional property manager on the building. And the building itself has to hold up: legal units, the leases and current rents, and an appraisal that supports the price. A unit that isn't legal may not count at all, and it can pull the value down.

One more thing worth knowing. This summer Ottawa consulted on letting private insurers cover five- to eight-unit buildings. That consultation closed on July 2, 2026, and nothing is in force yet. If it changes, I'll tell you here first.

Where do you start? Not with the listing. Send me the city, the unit count and your budget, and I'll tell you which lane it's in and what may be possible, whether that's a fourplex with 10% down or a six-unit build with its own income doing the work.

If this isn't you but you know the person with the six-plex plan, send it to them.

Comment INVEST and I'll message you. Or call / text 416-473-9598.

Illustration of a common structure, not a promise. Private and construction financing carry lender and broker fees; the APR is disclosed on every quote. Estimates only. OAC. Not every file qualifies. Program terms are CMHC's and may change.
Rick Sekhon, Mortgage Broker (M08009007) · Real Mortgage Associates Inc. · FSRA Lic. #10464 Call or text (416) 473-9598 or 905-306-7000 anytime.

10/19/2026

Sending your kids off to college or university? Years of residence and rent, and nothing to show for it when they graduate.

A lot of parents I talk to feel the same way. They want to help their kids, but they hate writing those cheques to a landlord.

Here's an alternative to living on campus that most families don't know about.

You may be able to buy a triplex or fourplex near campus with 10% down, using an insured (CMHC) mortgage: the same kind of mortgage people use to buy their own home. On a duplex, the minimum is 5% on the first $500,000 and 10% on the rest. The purchase price has to be under $1.5 million.

One unit has to be lived in. Under CMHC's rules, that can be your son or daughter, living there rent-free.

The other units help you qualify, and how much they help depends on your down payment. With 10% down on an insured mortgage, up to 50% of the gross rent on a triplex or fourplex may be added to your income (up to 100% on a duplex), and insured mortgages are often priced lower than uninsured ones.

Put 20% or more down on a conventional mortgage, and depending on the lender, as much as 95% of the rent may count. Rates and fees may be higher, but for some families, more down means an easier time qualifying.

Here's how the math can look, for illustration:

a $1,000,000 triplex near campus. Your child lives in one unit. The other two rent for $2,000 a month each, or $48,000 a year.

With $100,000 down (10%), up to $24,000 of that may count toward qualifying.

With $200,000 down (20%), some lenders may count up to $45,600.

What it gives your child is bigger than the numbers.

They learn property management: collecting rent, handling repairs, keeping a budget.

Your family may build equity instead of paying for residence. And they get the financial education most kids never get in school. It's responsibility, early, and a way to start them off right.

Every family is different: who goes on title, who lives there, who qualifies, and what it means for your taxes (your accountant should weigh in on that part).

Thinking about this for your child? Comment INVEST below and I'll message you to walk through what your family may qualify for. No pressure. Just the numbers. Or text me at 416-473-9598.

Next: what changes at five units and up. It's a different ball game.

Rick Sekhon, Mortgage Broker (M08009007) · Real Mortgage Associates Inc. · FSRA Lic. #10464
Illustration only. Rents, rates and approval vary. Not every file qualifies. OAC.

10/15/2026

Adding a rental suite? A refinance may help fund it. 🏠

Here's how it works 👇

You refinance your home to include the value the suite adds. The lender looks at two values:
📍 Your home as it is today
📍 Your home with the suite complete

On the insured route you may borrow up to 90% of the lower of the as-complete value, or today's value plus the build cost. An appraiser sets both numbers before you build.

Two routes, and your home decides which one fits:

✅ INSURED — up to 90%
Since January 2025, you may refinance up to 90% of what the home will be worth with the suite included. Finished value under $2M, up to four units total, you or a close relative lives in one existing unit. Funds paid out in stages as the work is inspected.

✅ UNINSURED — up to 80%
Up to 80% of today's value through a bank or credit union. Rentals and homes over $2M may qualify. Funds may come as one lump sum at closing, no staged draws.

📊 For context: CMHC's 2025 Rental Market Report puts the average two-bedroom apartment rent in the GTA at $2,034 a month. A suite may rent for less, and that income may help you qualify.

No permits? No plans? Not a problem. 🔨

25 years of helping Canadians refinance to build a rental suite. I'll walk you through the feasibility first: what your home may support, what the build may cost, and whether the numbers work. Before you spend a dollar.

Own a GTA home and want to add a suite?
👉 DM SUITE

Estimates only, OAC. Insured refinances carry mortgage insurance premiums, and lender criteria apply. No short-term rentals on the insured route. Rents vary by home and area. Not every file qualifies. The first step is clarity.
Rick Sekhon, Mortgage Broker (M08009007) · Real Mortgage Associates Inc. · FSRA Lic. #10464 · Independently owned and operated.

10/06/2026

Fixed mortgage rates went up again this week.

Fixed rates follow Government of Canada bond yields, and those keep climbing (Canadian Mortgage Trends, Oct. 1). Separately, the Bank of Canada sets its overnight rate on October 28, which moves prime and variable rates.

So everyone is chasing the lowest rate. One of my first clients did exactly that. They got the lowest rate at renewal, and kept $30,000 to $40,000 in credit cards and loans open.

👉 Swipe through to see what that costs, and what the same monthly budget can do instead.

If you already have a renewal offer in writing, taking it may be the right call. But signing a straight renewal locks you in for another term, and refinancing later can mean a penalty. That's why a strategy call comes before the signature.

What costs your household more each month right now: the mortgage, or everything else?

—
Rick Sekhon, Mortgage Broker
📞 Call or text 416-473-9598
Real Mortgage Associates Inc. · FSRA Brokerage Licence #10464 · Broker Licence M08009007 · Independently owned and operated

Illustrative figures based on a 29% credit card rate and an assumed five-year fixed mortgage rate. Prepayment privileges, refinance costs and penalties vary by lender. Estimates only, OAC.

07/15/2026

Wednesday is not just about rates.
It never was.

The Bank of Canada announcement tells you one number.

It tells you nothing about your file.

Your credit.
Your debt load.
Your cash flow.
Your tax arrears.
Your renewal structure.

These are the things that determine what you can actually do next.

Most people react to the announcement.
The ones who come out ahead had a strategy before it dropped.

Before you refinance.
Before you restructure.
Before you borrow privately.
Get the strategy first.

💬 Comment "STRATEGY" or DM me privately with your situation.

Not every file qualifies.
The first step is always clarity.

Rick Sekhon | Licensed Mortgage Broker
Real Mortgage Associates Inc. · FSRA Lic. #10464
ricksekhon.com · 416-473-9598

OntarioHomeowners GTAMortgage MortgageBrokerToronto CRADebt DebtConsolidation CashFlow PrivateMortgage Refinance AlternativeLending MortgageTips FinancialClarity

06/28/2026

Most men do not talk about tax debt.
They just carry it.

CRA debt can start with one missed filing, a hard year, or simply not knowing the rules when you went out on your own.

Then the bank says no.

The pressure gets heavier.

And decisions start coming from fear instead of clarity.
Private financing is not the destination.
Sometimes it is the bridge back to control.
The goal is simple:
Control now.

A stronger file next.

A path back to the bank — on your terms.

If you are self-employed and carrying tax pressure quietly — start with clarity before panic takes over.

💬 Message "STRATEGY" for a confidential review.

Not every file qualifies. The first step is clarity.

Rick Sekhon | Licensed Mortgage Broker

Real Mortgage Associates Inc. · FSRA Lic. #10464
ricksekhon.com · 416-473-9598

Address

5675 Whittle Road #100
Mississauga, ON
L43P8

Website

https://www.ricksekhon.com/, https://www.reversemortgage-ontario.ca/

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