Clear, Confident Mortgages for Ontario Homeowners
Smart financing for first-time buyers, refinances, debt consolidation, and self-employed borrowers across Ontario.
Call or Text: 647-200-2246
Stephanie Karulas · Mortgage Agent Level 1 · Mortgage Architects #12728
Welcome to Stephanie Karulas Mortgages
As a licensed Mortgage Agent Level 1 with Mortgage Architects, I bring you access to multiple lenders, personalized strategies, and expert guidance through every step of your mortgage journey. Whether you're buying your first home, refinancing, consolidating debt, or investing in real estate across Ontario, I'm here to make the process clear, stress-free, and empowering.
Get Your Mortgage Estimate
Use our interactive calculator to estimate your mortgage payments, affordability, and see what you can qualify for. Get instant results tailored to your situation.
Note: This calculator provides estimates only. Actual mortgage terms, rates, and approval amounts depend on your complete financial profile, credit history, and lender guidelines. Contact me for a personalized assessment.
Why Work With a Mortgage Broker?
As a licensed Mortgage Agent Level 1 with Mortgage Architects, I bring you access to multiple lenders, personalized strategies, and expert guidance through every step of your mortgage journey.
Access to Multiple Lenders
Unlike banks that offer only their own products, I work with a wide network of lenders across Canada—including major banks, credit unions, and alternative lenders—to find the best fit for your unique situation.
Personalized Strategy
Every borrower is different. I take time to understand your financial goals, credit profile, and long-term plans to create a mortgage strategy tailored specifically to you.
Document Preparation & Support
Mortgage applications require extensive documentation. I guide you through exactly what's needed, help you organize everything, and ensure your application is complete and compelling.
Rate & Term Comparison
I compare rates, terms, prepayment privileges, and penalties across multiple lenders to ensure you're getting competitive terms that align with your financial goals.
About Stephanie Karulas
As a Mortgage Agent Level 1 with Mortgage Architects (Brokerage #12728), I'm committed to a client-first approach. My goal is to make the mortgage process clear, stress-free, and empowering. I believe in transparency, education, and building lasting relationships with every client I serve across Ontario.
Whether you're buying your first home in Mississauga, refinancing in Ottawa, or investing in rental properties across the GTA, I'm here to guide you with expertise and care.
Mortgage Solutions for Real Life
From first-time buyers to seasoned investors, I offer tailored mortgage solutions for every stage of your homeownership journey across Ontario.
First-Time Home Buyers
Buying your first home in Ontario is exciting—and can feel overwhelming. I help first-time buyers navigate down payment requirements, understand mortgage insurance (CMHC, Genworth, Sagen), access gifted funds properly, and calculate the true cost of homeownership including property taxes, utilities, and maintenance.
Whether you're looking at condos in downtown Toronto, townhomes in Mississauga, or detached homes in Durham Region, I'll guide you through pre-approval, rate holds, and closing with confidence. Many first-time buyers qualify for programs like the First-Time Home Buyer Incentive or land transfer tax rebates—I ensure you're aware of every option available to you.
Refinances
Refinancing your Ontario home can unlock better rates, access equity for renovations or investments, or consolidate high-interest debt. I help you understand the difference between rate-and-term refinances (simply getting a better rate) and equity take-out refinances (accessing your home's value).
Timing is critical with refinances. Breaking your current mortgage early can trigger penalties—either three months' interest or the Interest Rate Differential (IRD), whichever is higher. I run break-even analyses to ensure refinancing makes financial sense for your situation, whether you're in Mississauga, Ottawa, London, or anywhere across Ontario.
Debt Consolidation
High-interest credit cards, lines of credit, and personal loans can drain your monthly budget. Debt consolidation through a mortgage refinance lets you roll those debts into your home equity at a much lower interest rate, often reducing your monthly payments by hundreds or even thousands of dollars.
I work with Ontario homeowners in Mississauga, the GTA, Ottawa, Hamilton, and beyond to create realistic debt consolidation plans. We'll review your current debts, calculate potential savings, and ensure you have a discipline plan to avoid accumulating new debt. It's important to understand the risks—converting unsecured debt to secured debt means your home is collateral, so we approach this strategy carefully and responsibly.
Reverse Mortgages
For Ontario homeowners aged 55+, a reverse mortgage can provide tax-free income without monthly payments. You retain full ownership of your home and can access up to 55% of your home's value, with repayment only required when you sell, move, or pass away.
Reverse mortgages are ideal for retirees who are house-rich but cash-poor, want to age in place, or need funds for healthcare, home modifications, or simply enjoying retirement. I help you understand how reverse mortgages work in Ontario, the costs involved, estate implications, and alternatives like HELOCs that might better suit your situation in cities like Mississauga, Toronto, Ottawa, or Niagara.
Self-Employed & Bank Statement Options
Self-employed Ontarians—from contractors in Mississauga to consultants in Ottawa—often face challenges proving income for traditional mortgages. I specialize in alternative documentation options, including bank statement programs that verify income through deposits rather than tax returns.
Whether you're a sole proprietor, incorporated business owner, commission-based professional, or gig economy worker, I'll help you navigate stated income programs, demonstrate income stability, maintain strong credit, and show adequate reserves. Many self-employed borrowers across the GTA, Durham, Peel, Halton, and York regions successfully secure competitive mortgages with the right strategy and documentation.
Investment & Rental Properties
Building wealth through Ontario real estate requires smart financing. I help investors across Mississauga, Toronto, Ottawa, Hamilton, Kitchener-Waterloo, and beyond secure mortgages for rental properties, multi-unit buildings, and investment portfolios.
Investment property mortgages differ from primary residence mortgages—lenders assess rental income potential, vacancy rates, and debt service coverage ratios (DSCR). I guide you through down payment requirements (typically 20%+ for rentals), help you analyze cash flow and cap rates, and create long-term financing strategies for portfolio growth. Whether you're buying your first rental condo or expanding a multi-property portfolio, I provide the expertise you need.
How the Process Works
A clear, straightforward path from first conversation to closing day
Clarity Call
We start with a no-obligation conversation to understand your goals, timeline, and financial situation. I'll explain your options, answer questions, and outline next steps. This typically takes 20-30 minutes and can be done by phone, video, or in person at my Mississauga office.
Document Review & Strategy
I'll provide a checklist of documents needed (income verification, credit authorization, property details, etc.). Once I review everything, I'll create a personalized mortgage strategy with lender recommendations, rate options, and a clear timeline. Expect this phase to take 2-5 business days.
Lender Match & Approval
I submit your application to the best-fit lender(s) and manage the underwriting process. I'll communicate with you regularly, request any additional documentation, and advocate on your behalf. Pre-approvals typically take 24-72 hours; final approvals take 5-10 business days once a property is identified.
Close & Beyond
I coordinate with your lawyer, real estate agent, and the lender to ensure a smooth closing. You'll receive your mortgage commitment, review final numbers, and sign documents with your lawyer. After closing, I remain available for questions, renewal planning, and future mortgage needs.
What to Prepare
- Government-issued ID (driver's license, passport)
- Income verification (pay stubs, T4s, tax returns, business financials)
- List of assets (bank accounts, investments, RRSP, TFSA)
- List of liabilities (credit cards, loans, lines of credit)
- Property details (MLS listing, purchase agreement, or current mortgage statement)
Rates, Approvals & Expectations
Understanding Canadian mortgage rates and what affects your approval
Fixed vs. Variable Rates
Fixed rates remain constant for your entire term (typically 1-5 years), providing payment predictability and protection from rate increases. They're ideal if you value stability or expect rates to rise.
Variable rates fluctuate with the Bank of Canada's prime rate. They often start lower than fixed rates and can save you money if rates remain stable or decrease. However, your payments can increase if rates rise. I help Ontario homeowners in Mississauga, Toronto, Ottawa, and beyond evaluate which option aligns with their risk tolerance and financial goals.
Why Headline Rates Aren't Everything
The lowest advertised rate isn't always the best deal. You need to consider:
- Prepayment privileges: Can you make extra payments or increase your payment amount without penalty?
- Portability: Can you transfer your mortgage to a new property if you move?
- Penalties: What's the cost to break your mortgage early? IRD penalties can be substantial.
- Fees: Are there appraisal fees, legal fees, or lender fees?
Today's Market Snapshot
As of early 2025, Canadian mortgage rates remain competitive following recent Bank of Canada policy adjustments. Fixed rates for 5-year terms are typically ranging from 4.5-6.0%, while variable rates are in the 5.5-6.5% range, depending on your credit profile and down payment.
Note: Rates change frequently and vary by lender, property type, and borrower profile. Contact me for current rates specific to your situation.
Serving Ontario Communities
Local expertise across the province
GTA & Mississauga
Based in Mississauga, I specialize in the Greater Toronto Area's diverse housing market—from downtown Toronto condos to Mississauga townhomes, Brampton detached homes, and Oakville luxury properties. I understand local market dynamics, commuter needs, and the unique challenges of GTA homeownership.
Durham Region
Durham Region—including Oshawa, Whitby, Ajax, Pickering, and Clarington—offers more affordable housing options for GTA commuters and growing families. I help buyers navigate this market's mix of new developments and established neighborhoods.
Peel, Halton & York
From Brampton and Caledon in Peel, to Burlington and Milton in Halton, to Vaughan and Markham in York Region, these areas offer diverse housing options for families, professionals, and investors. I provide tailored mortgage solutions for each community's unique market.
Ottawa
Canada's capital offers stable employment, bilingual communities, and a strong rental market. I work with Ottawa buyers—from government employees to tech professionals—to secure mortgages for homes in Kanata, Barrhaven, Orleans, and downtown.
London & Southwestern Ontario
London's growing economy, post-secondary institutions, and affordable housing attract first-time buyers and investors. I also serve surrounding areas like St. Thomas, Strathroy, and Woodstock with mortgage solutions tailored to smaller-market dynamics.
Kitchener-Waterloo & Niagara
The K-W tech corridor and Niagara's tourism/wine industry create unique opportunities. Whether you're buying in Waterloo's innovation district or a Niagara Falls investment property, I provide expert mortgage guidance for these distinct markets.
Barrie, Kingston & Beyond
From Barrie's lakefront properties to Kingston's historic homes and military community, I serve Ontario homeowners across the province. No matter where you're buying, refinancing, or investing, I bring the same expertise and personalized service.
Hamilton & Golden Horseshoe
Hamilton's revitalization and the Golden Horseshoe's growth make this area attractive for buyers and investors. I help clients navigate Hamilton's diverse neighborhoods, from downtown condos to suburban family homes in Ancaster and Stoney Creek.
Client Success Stories
Real outcomes for real people across Ontario
First-Time Buyer Pre-Approval Win
Mississauga, Ontario
A young couple was overwhelmed by the GTA housing market and unsure how much they could afford. After our clarity call, I secured them a pre-approval with a competitive rate hold, explained down payment options including gifted funds from family, and connected them with a trusted real estate agent. They closed on a Mississauga townhome within 90 days and saved thousands by locking in their rate before increases.
Refinance Penalty-Savvy Switch
Ottawa, Ontario
An Ottawa homeowner wanted to refinance to access equity for renovations but was worried about breaking their mortgage early. I calculated the IRD penalty, compared it to potential savings, and found a lender offering a lower rate with better prepayment privileges. The break-even point was just 14 months, and they accessed $75,000 in equity for their kitchen remodel.
Self-Employed Approval Path
Toronto, Ontario
A self-employed consultant in Toronto was denied by their bank due to write-offs reducing their taxable income. I connected them with a lender offering a bank statement program that verified income through deposits. With 24 months of statements and strong credit, they were approved for a downtown condo purchase at a competitive rate.
Debt Consolidation Relief
Hamilton, Ontario
A Hamilton family was struggling with $45,000 in high-interest credit card and line of credit debt. By consolidating into their mortgage through a refinance, I reduced their monthly debt payments by over $800. We also created a budget plan to prevent new debt accumulation, giving them financial breathing room and peace of mind.
Reverse Mortgage Peace of Mind
Niagara Falls, Ontario
A retired couple in Niagara Falls wanted to age in place but needed funds for home modifications and healthcare costs. I explained how a reverse mortgage would provide tax-free income without monthly payments, reviewed estate implications with their adult children, and secured a solution that let them stay in their home with dignity and financial security.
Compliance Note: Testimonials represent client opinions and experiences. Individual outcomes vary based on financial circumstances, credit profile, property type, and lender guidelines. These stories are not guarantees of approval, rates, or terms.
Tools & Resources
Helpful calculators and guides for Ontario homeowners
Mortgage Calculators
Estimate your monthly payments, affordability, and refinance break-even points with our easy-to-use calculators.
Mortgage Guides
Download comprehensive guides on down payments, fixed vs. variable rates, closing costs in Ontario, and more.
Popular Guides
- Down Payment Sources in Canada: RRSP Home Buyers' Plan, gifted funds, savings, and more
- Fixed vs. Variable Rates: Pros, cons, and when each makes sense
- Rate Holds vs. Pre-Approvals: Understanding the difference and timing
- Closing Costs in Ontario: Land transfer tax, legal fees, title insurance, and more
- Appraisal Basics: What appraisers look for and how it affects your mortgage
Frequently Asked Questions
Common questions from Ontario homeowners
Tell Me More About Your Goals
Help me understand your situation so I can provide the most relevant guidance
Ready to explore your best mortgage options?
Whether you're buying, refinancing, or investing across Ontario, I'm here to provide clear guidance and personalized solutions.
Mon-Fri: 9am-7pm
Sat: 10am-4pm
Response within 24 hours
Mississauga Office
5675 Whittle Road
Mississauga, ON L4Z 3P8
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