You’ve put in the years: university, med school, residency, sleepless nights, and long shifts. Now you’re finally launching your career as a medical professional. But despite your high earning potential, buying your first home might still feel out of reach because you don’t yet have the income history that lenders usually want to see.

If you earn your living on commission — whether you’re a real estate agent, car salesperson, or any other commission-based professional — you already know that your income can feel like a bit of a roller coaster. Some months are stellar; others are… well, let’s just say you’re happy you put a little aside. But what does that mean when it’s time to buy a home? Or refinance? Or even just get pre-approved?

Let’s face it—you’ve probably felt it yourself. You’re scrolling through property listings, crunching numbers on mortgage calculators, and wondering why it seems like the “big guys” always win. Investors seem to scoop up properties left, right, and center, often outbidding everyday families just trying to find a place to call home.

Ever sit across from a lender or mortgage broker and wonder, “Where are they getting all this money they’re handing out?” It’s a fair question. Most people think banks have vaults full of cash or some magical, bottomless pit of money. Not quite. The truth is, lenders have to “buy” money before they can lend it out.

Have you ever wondered why mortgage rates aren’t just pulled out of a hat? Or why some lenders offer lower rates while others seem to tack on a premium? Behind every rate sheet is something called the cost of money, and if you’re in real estate or looking to buy a home, understanding this concept can give you a serious leg up. Not just for bragging rights at the next open house, but for helping you (or your clients) make sharper decisions, ask smarter questions, and understand why lenders price things the way they do.

When you think of mortgage lenders, you probably picture big banks or trust companies with vaults full of cash just waiting to hand out. But there’s another side of the mortgage world—one that relies heavily on investors to fund deals. I’m talking about private lenders and Mortgage Investment Corporations (MICs). These lenders don’t use deposits or bonds to fund mortgages.

There’s a common assumption floating around out there — maybe you’ve heard it. It goes something like this: “Once I retire, I shouldn’t have a mortgage.” Sure, in a perfect world, that’s a nice goal. But life isn’t perfect. Sometimes you downsize and still need financing. Sometimes you refinance for renovations or debt consolidation. Sometimes you’re helping the next generation with a down payment.

Maybe you’re ready to downsize. Maybe you’re dreaming of a quieter, more community-focused place where you don’t have to shovel snow or cut the grass. Age-restricted properties — often branded as 55+ or “adult lifestyle communities” — can look like the perfect solution. But when it comes to getting a mortgage on one of these properties, things aren’t always as simple as they are with a traditional home or condo.

If you’re living in Canada on a work permit or study permit and wondering if homeownership is even on the table, I’ve got good news: yes, you absolutely can buy a home. You don’t have to wait until you’ve got your Permanent Resident (PR) card in hand. But — and this is a big but — there are a few important things you need to understand about how lenders look at non-permanent residents (NPRs), how mortgages work for you, and what’s required to make it happen.

Commercial vs Residential Mortgages: If you’ve ever gone through the process of securing a residential mortgage, you know the routine: income verification, a credit check, an appraisal, and a few legal documents. But when you step into the world of commercial lending, that simplicity disappears fast. Suddenly, you’re talking about holding companies, security agreements, debt covenants, environmental reports, and multi-party legal reviews.