Experts
Search
Expert Advice
- Editorial & Insights
- Lunar calendar
Our Apps
About Us
Contact
Contact Russian Flyers
Our apps and websites are the choice of hundreds of thousands of Russian-speaking people in North America. Currently, we are providing the information about Russian-speaking businesses and experts in all industries, their deals, promotions and special offers, as well as a variety of useful and interesting information in the most convenient formats on all modern devices. Contact us by phone or use the form on the right.
* required field.
Telephone
416-907-6718
Ask us something
Your name *
Subject *
Your Email *
Your phone *
Message
Code on picture*

Mortgage Legko - image

Mortgage Legko

Mortgages, Renewals, Refinancing and Home Equity Lines

Buying a first home, renewing a mortgage, or thinking about refinancing: the Mortgage Legko brokers in Concord will find an option for your situation and explain everything in Russian and English. Mortgages for purchase, renewals, refinancing, and home equity lines of credit.

Purchase, renewal, refinancing, and a line of credit secured by your property:
- Buying a house or condo: a mortgage matched to your income, savings, and plans
- Mortgage renewal: compare offers ahead of time instead of accepting the first letter from your bank
- Refinancing an existing mortgage for new goals
- Home equity lines of credit
- Mortgages for self-employed borrowers: options that take an entrepreneur's income into account

The brokers run a Russian-language section called Mortgage Alphabet: editorial regularly explains Bank of Canada decisions, real estate news, and advice for borrowers.

5 (7 reviews)

Contact

Михаил Тульченецкий

Денис Державец

Contacts

204 - 2180 Steeles Avenue West, Concord, ON, L4K 2Z5, Canada

Toll-Free: 1-855-761-7001

905-738-7003

m-tulchin@rogers.com

info@mortgagelegko.com

www.mortgagelegko.com

Add to Contacts

ASK Mortgage Legko YOUR QUESTION

Tell your friends about "Mortgage Legko"

Mortgage Legko OFFERS TO TAKE A LOOK AT

Mortge on your terms - a pause in payments that can last forever

Mortgage alphabet

With the current economic uncertainty, a weak job market, and rising gas and grocery prices driven by conflicts and wars in various parts of the world, more and more Canadians find themselves at a crossroads, worried about their financial future. We're increasingly receiving inquiries about the possibility of temporarily pausing mortgage payments or refinancing an existing mortgage to lower monthly payments.

What the Bank of Canadas Rate Hold Actually Means

Mortgage alphabet

What if everything we were told about interest rates and the real estate market in 2025 turns out to be wrong?

New Opportunities for the Self-Employed in 2026

Mortgage alphabet

The category of self-employed borrowers has been growing steadily lately, as more and more Canadians try their hand at working for themselves, and new technology makes it easier for small businesses to run all kinds of operations. That said, when reviewing a mortgage application for a home purchase, banks tend to treat these clients with a great deal of caution, and we're increasingly hearing from self-employed clients who've either been turned down by their own bank, or been approved for a mortgage amount that falls far short of what they actually need.

5 simple tips for mortgages recipients in 2026

Mortgage alphabet

According to the 2026 Housing Market Outlook from RE/MAX Canada, home sales are expected to increase by 3.4% next year. The report notes that this comes amid signs of renewed buyer interest in the fall compared with the first half of the year. In 32 of the 38 markets analyzed by RE/MAX between January 1 and October 31, 2025, home sales declined year over year. At the same time, the number of listings increased - in Ontario alone, the growth reached as much as 21 percent - contributing to a decline in average prices in 2025.

How Do Lower Interest Rates Affect Your Life?

Mortgage alphabet

The Bank of Canada cut its key interest rate to 2.25% on October 29, continuing the rate-cutting cycle that began in June 2024. Today, we want to go back to basics and explain how interest rates actually work, and what to pay attention to in every Bank of Canada announcement. Here's what lower interest rates mean for you, for small businesses, and for the Canadian economy.

Rates We Have Not Seen Since March 2022

Mortgage alphabet

The Canadian Real Estate Association (CREA) reports that home sales rose 6.6% in July compared to a year ago, continuing the upward trend following the market slowdown seen in previous months. In all, 45,973 homes changed hands last month, compared to 43,122 in July 2024.

The Bank of Canada Holds Its Key Interest Rate Steady

When Should We Expect a Cut?

On Wednesday, July 30, the Bank of Canada held its key interest rate at 2.75%, citing ongoing uncertainty around tariffs and the outcome of trade negotiations between Canada and the US. The rate has now remained unchanged since March. Alongside the rate announcement, the Bank published its latest Monetary Policy Report, noting that "amid heightened uncertainty around US trade policy, the outlook for the Canadian economy remains clouded."

Why now is the best time to buy the first real estate

Mortgage alphabet

In more than 20 years in the Canadian mortgage business, we have never seen as many programs, tax benefits, and incentives for first-time homebuyers as we have today. Real estate prices — especially in the condominium market, which is often the entry point for first-time buyers — have declined over the past year and a half, while the number of available listings has increased. This gives first-time buyers the opportunity to calmly choose the right condo or house, negotiate, allow enough time for mortgage approval, complete the transaction without unnecessary stress, and move into their first home. Let us briefly review the key advantages and benefits currently available to first-time homebuyers in Canada, and in Ontario in particular.

How to Avoid Losing Your Home, Save a Deal, or Reduce Your Debt Load

Mortgage alphabet

The growing divide among consumers amid economic uncertainty is becoming increasingly clear, as the number of missed payments has risen compared to last year, according to a new Equifax report.

Mortgage Renewal: how not to overpay when renewing your mortgage

Mortgage renewal is not a formality and not just a signature on the letter your bank sends you. For many Canadian homeowners, it is one of the most important financial moments in the entire period of owning a property. This is the point at which you may save thousands of dollars, improve the terms of your loan, reconsider amortization, consolidate debts - or, on the contrary, make an expensive mistake by automatically accepting the first offer.

What the New, Sharp Rate Cut Means for Mortgages

Mortgage alphabet

The Bank of Canada's latest moves to cut interest rates could spur a pickup in buyer activity in the real estate market, experts note, though some buyers may still be waiting for the year's final rate decision.

What to Do If You Have Bought a House But Can Not Sell Your Existing Home

Mortgage alphabet

Right now, there's an interesting standoff playing out in the real estate market - rates are coming down, sellers are listing their properties, prices are essentially holding steady, and buyers, despite pent-up demand and a genuine need to buy, keep waiting for rates and/or prices to fall even further.

How Soon Should We Expect the First Rate Cut?

Mortgage alphabet

The Bank of Canada held its rate steady on January 24 for a fourth consecutive meeting, and for the first time stated directly that it won't need to raise rates again if the economy continues developing in line with its forecasts.

The New Canadian Mortgage Charter

What You Need to Know

Amid challenges tied to rising interest rates and inflation, many Canadians are experiencing financial strain and worrying about their ability to keep up with mortgage payments. In fact, a recent Angus Reid survey found that four in five homeowners with a mortgage say they are either concerned (40%) or very concerned (39%) about facing higher payments when it comes time to renew their mortgage.

Pause from the Bank of Canada - how will the real estate market react?

Mortgage alphabet

Most current and prospective property owners in Canada are asking the same question today: has the rise in mortgage rates finally stopped, and when will the right moment come to buy or sell real estate?

What to expect from interest rates and what to do today

Mortgage alphabet

Mortgage interest rates have risen significantly and continue to put pressure on Canadian households. The logical question we have to answer every day is: when will rates stop rising and begin to come down?

Reverse mortgage looks very profitable today

Mortgage alphabet

We are increasingly seeing homeowners over the age of 55 who have nearly paid off the mortgage on their property, yet have not managed to save enough for a comfortable retirement. Selling their homes today is not always the best solution, especially given the changes in the real estate market and the rapidly rising cost of rent.

Two extremes of todays market

Mortgage alphabet

While more than a quarter of Canadians say they plan to purchase an investment property within the next five years, another group of homeowners is beginning to feel the weight of debt obligations much more seriously.

The Real Estate Market Is Picking Up Steam Again

Mortgage alphabet

Canadians are feeling increasingly optimistic as the outlook for the real estate market steadily improves, while the economy moves slowly forward with only a few signs of an unavoidable recession.

How to Keep Your Cost of Borrowing Low

Mortgage alphabet

In our previous article, we described situations where a bank turns down your mortgage application, and we discussed alternative or private financing as an option. For some clients, this is a perfectly reasonable, and often the only available, short-term solution when buying or refinancing a property. Sometimes, though, a client has solid, verifiable income and would seem to qualify for the best possible interest rate, but a less-than-perfect credit history stands in the way, since A-category banks tend to have fairly strict minimum credit score requirements.

What to do if the bank refused to issue you a mortgage

Mortgage alphabet

Despite the continuing decline in Canadian real estate prices, it is becoming increasingly difficult for borrowers to qualify for mortgages through their own banks or through other financial institutions that use standard qualification rules. This is mainly due to the sharp increase in interest rates and monthly payments, as well as the tightening of policies and requirements at major banks regulated by government authorities.

Housing Market Could Face a Historic Correction

Amid Sharply Rising Interest Rates

According to a new RBC report, Canadas real estate market could be facing its largest downturn in several decades. After home prices soared during the pandemic - with some of the priciest markets seeing gains of 50 percent or more - the countrys largest bank is forecasting that national home prices will fall by more than 12 percent by early next year.

A Full-Scale Assault on Canadian Real Estate Market Has Begun

Mortgage alphabet

From rising mortgage rates to provincial-level intervention, to the uncertainty of what Canada's Minister of Finance has in store for us next week, a senior economist at BMO Capital Markets has put it in blunt terms about the domestic real estate market. We're seeing a full-scale assault on Canadian home prices from policymakers at every level, says Robert Kavcic.

How Will Rising Rates Affect Mortgage Holders

Mortgage alphabet

Variable-rate mortgage holders have something to celebrate - on Wednesday, January 26, the Bank of Canada surprised markets by holding its key interest rate at 0.25%, though it did stress that interest rates will gradually rise going forward. The central bank chose not to raise rates despite climbing inflation and a stronger-than-expected economic recovery. Ahead of the Bank's meeting, Bloomberg data showed roughly a 70% probability of a rate hike in January.

Is it still profitable to invest in GTA real estate

Mortgage alphabet

Canadian real estate market no longer follows a simple story of uninterrupted growth. After a period of record-low interest rates, intense buyer demand, and rapid price gains, the country moved through a sharp tightening cycle, slower sales, and a serious reassessment of risk. Yet the central question for buyers, investors, and renters remains the same: is real estate in Canadas major cities still a reliable long-term asset, or has the market entered a more cautious and selective phase?

Why Ordinary Parents Are Investing in Current Market

When Will Rates Rise?

A recent CIBC survey revealed an interesting trend: despite noticeably higher prices, Canadians aren't just continuing to invest in real estate, the share of investors relative to primary-home buyers has actually risen over the course of the pandemic. Today, 25 percent of all property purchased in Ontario isn't being bought as a primary residence, and in many cases, the investors behind these purchases are people just like your neighbours and relatives, people with kids and grandkids of their own.

Is Era of Historically Low Mortgage Rates Coming to an End?

Mortgage alphabet

Over the last week of September, the bond market jumped sharply, and the five-year bond yield has now climbed above 1% (back in the spring, it stood at just 0.4%). Does this mean historically low fixed rates will soon be a thing of the past?

Will the Sale of Your Principal Residence Be Taxed?

Mortgage alphabet

As many of us know, Canada is holding a snap election on September 20, called by Prime Minister Trudeau in hopes of capitalizing on a relative lull between pandemic waves and securing a parliamentary majority. One of the central non-pandemic issues has become housing affordability, which has seen sharp price growth over the past year.

The Next Rate-Hike Cycle and How to Prepare for It

Mortgage alphabet

This month, our wonderful Canada celebrates its 154th birthday! Restrictions from the third wave of the coronavirus are gradually being lifted, and step by step, we're returning to normal life. Against the backdrop of prolonged restrictions and lockdowns easing, Canadian spending is on the rise, as household savings have grown significantly. This is exactly why investors expect the next tightening cycle from the Bank of Canada, expected to begin in 2022, to push interest rates above the previous cycle's peak for the first time in decades.

What is going to happen to real estate prices

Mortgage alphabet

According to a report from the National Bank of Canada (NBC), major Canadian urban centers became more affordable when it comes to real estate in the second quarter of 2020. These results followed two consecutive quarters of deterioration. The improvement is linked to higher incomes and, more importantly, lower interest rates.

Key Points from the Federal Election Campaign in Canada

Mortgage alphabet

The election campaigns are underway, and the federal parties have begun laying out their plans to improve housing affordability for voters.

The New CMHC Program

Mortgage alphabet

The government recently released details of a new program, first announced during the federal budget presentation. Under this initiative, Canada's housing agency will contribute up to 10 percent of the total price of a first-time buyer's home purchase, provided certain conditions are met.

Measures to Help First-Time Homebuyers

In the New Federal Budget

The 2019 federal budget includes an appealing new initiative for prospective first-time home buyers - a measure that could see Canada's housing agency cover roughly 10 percent of a home's price, easing the mortgage burden on borrowers.

Will the Mortgage Stress Test Be Revisited?

Mortgage alphabet

A series of regulatory changes, including interest rate hikes, foreign buyer taxes, and the stress test, have led to a slowdown in activity across Canada's real estate markets.

Millennials Are About to Have a Major Impact on Real Estate Market

Mortgage alphabet

Generation Y represents a massive group of people looking to break into the real estate market. But will affordability challenges and new mortgage rules stand in their way?

Refinancing as a Way to Save Money and Get a Handle on Debt

Mortgage alphabet

Most homebuyers barely think about their mortgage once they've got it: the payment comes out of their bank account automatically, and few people give much thought to the rate or terms their mortgage broker arranged for them.

What not to do when choosing a mortgage

Whether you are buying your first property or have already been through the process before, choosing the right mortgage, lender, broker and financing terms requires careful planning. For most buyers, this is not just another financial product. It is one of the most important decisions of their lives. A mistake here can cost tens of thousands of dollars and, in some cases, take away the financial breathing room a family needs.

When Your Child Buys a Home

Mortgage alphabet

With current real estate prices and stricter mortgage rules, first-time home buyers can find it very difficult to purchase the home they want. Many, in situations like this, turn to their parents for help, and parents are often willing to gift their beloved children money for the down payment. We do not judge that at all - quite the opposite, we welcome that kind of help!

Muskoka instead of Mexico

Mortgage alphabet

The Canadian dream of owning a cottage has not disappeared. If anything, it has become stronger in recent years. After long winters, crowded cities, expensive air travel and growing fatigue from constant noise, more people are once again drawn to the lake, the quiet, the forest and a dock of their own. For many Canadians, cottage life is not simply a type of vacation. It is part of the national character: leaving for a long weekend, opening the door to the deck, hearing the water, lighting the barbecue and, for a few days, recovering a sense of simplicity and freedom.

How to Win the Fight for the Home You Want

Mortgage alphabet

And still come out of it with your financing intact? $50,000, $100,000, or even $215,000 - no, that's not the price of the home in question, that's the amount many clients today are being forced to pay above the asking price, caught up in genuine bidding wars over a home they love. And we're not talking about newspaper stories or pricey neighbourhoods here - this is happening to real people in Toronto, people just like the ones around you. Today, we want to talk through one very important question: will the financial institution issuing your mortgage actually agree with the price you're about to pay for the property you're buying?

Secrets of financing real estate for rent (pt 2)

Mortgage alphabet

Buying real estate for rental income is no longer a simple formula of buy a property, find a tenant, collect passive income. Today, financing investment property in Canada requires much more precise preparation. Banks look more carefully at income, debts, documents, ownership structure, quality of rental income and the number of properties already owned. That is why an investor must understand not only the down payment and interest rate, but also how the lender will calculate rental income, debt service ratios and overall ability to carry a portfolio.

The Secrets of Financing Rental Property

Mortgage alphabet

Just a little over four years ago, you could buy an investment property with no down payment at all, and still get the best interest rates on the market.

Purchase, financing and taxation of real estate for foreigners

Mortgage alphabet

We often work with international clients, and for this category of buyers it is especially important to understand that purchasing real estate in Canada today requires far more careful preparation than it once did. Non-residents and foreign buyers face special rules, restrictions, taxes, lender requirements and CRA procedures. A mistake at any stage — from choosing the property to transferring funds and filing tax documents — can become very expensive. The main principle is simple: legal and financial review first, offer to purchase second.