In an exclusive interview with CanadianSME Small Business Magazine, Camilo Rodriguez, Founder and CEO of MortgagesLab, shares his journey of transforming how Canadians approach home financing. With over two decades of experience in mortgage lending, Rodriguez challenges conventional wisdom, teaching that the lowest interest rate doesn’t always equate to the lowest cost of borrowing.
Interview By Maheen Bari
Camilo Rodriguez is the Founder and CEO of MortgagesLab, a Canadian mortgage company serving clients across Canada. With more than 23 years of experience in mortgage lending and financing, he has helped thousands of Canadians — from first-time homebuyers to business owners, real estate investors, and high-net-worth families — make smarter borrowing decisions and build lasting wealth.
Originally trained as an electrical engineer, Camilo moved into the mortgage industry after discovering a passion for helping families navigate financial challenges.He began his mortgage career at TD Canada Trust and later co-founded MortgagesLab alongside his wife and business partner, Ana Sanchez. Today, he is known for combining technical rigor, strategic thinking, and practical education to help clients reduce the mortgage cost of borrowing.
Camilo is a Past President of the Canadian Mortgage Brokers Association – BC, where he played a central role in advancing professionalism and education across the industry. He has trained and mentored more than 100 mortgage professionals nationwide and is widely respected for his commitment to ethics, client advocacy, and continuous learning.
His philosophy challenges one of the most persistent assumptions in personal finance: that securing the lowest mortgage rate is the most important decision a borrower can make. Camilo teaches instead that the total cost of borrowing over the life of a mortgage is what truly matters. This framework anchors his educational content, speaking engagements, and client advisory work.
In 2026, Camilo published the Amazon bestselling book From Debt to Zero, offering Canadians practical strategies to reduce interest costs, pay off their mortgage faster, and build intergenerational wealth. Through his writing, speaking, videos, and newsletter, he continues to educate Canadians on mortgages, financial literacy, debt reduction, and wealth creation.
You say the lowest rate is not always the cheapest mortgage. In simple terms,what do Canadians misunderstand most about the true cost of borrowing?
What many people do not understand is that the lowest mortgage rate does not necessarily mean the lowest cost of borrowing.
A good example is what we see today with electric vehicles. An electric car may cost more upfront, but when you factor in fuel, oil changes, filter replacements, maintenance, and other operating expenses, it can end up being less expensive over a period of five to ten years.
The same principle applies to a mortgage. When you take into account factors such as amortization, other debts the family may have, lender penalties, taxes, and access to liquidity, it becomes much clearer what the true cost of borrowing really is.
That is one of the main reasons I wrote this book From Debt to Zero. I explain these concepts in detail and provide real-life examples to help readers understand what is truly the less expensive option.
You’ve helped thousands of Canadians with their mortgages over 23 years. What was the hardest part of starting MortgagesLab, and how did you push through those early challenges?
In my journey, the hardest obstacle was my analytical mind.
When I wanted to start Mortgages Lab, I spent countless hours building Excel spreadsheets and running different scenarios. Every model I created showed red ink. The numbers suggested I
would need to borrow money from friends, family, banks, and even use my home equity. Even then, success was far from guaranteed.
When I added up the costs of compliance, hiring, licensing, insurance, office expenses, and everything else required to run a business, it felt overwhelming. I could not sleep for three months.
On one hand, I wanted to start my own business. On the other hand, all the data pointed to failure. There also seemed to be more tasks than hours in the day.
Learning from others has always been a key part of my success. Around that time, I read The Slight Edge by Jeff Olson. The book taught me to focus on my vision and take one small step forward every day.
I also realized that people often regret the things they never tried. I knew I would regret not moving forward, so I took a leap of faith and started Mortgages Lab.
Looking back, it was one of the best decisions I have ever made. Follow your gut and have faith.
Your book From Debt to Zero keeps hitting Amazon’s #1 bestseller badge. What core idea in the book do you wish every Canadian homeowner understood before signing a mortgage?
What I want every homeowner to understand is that if they want to save a significant amount of money, they need to change the way they think about mortgages.
Right now, about 90% of Canadians focus almost entirely on the mortgage rate. Banks know this. Brokers know this. The entire industry knows this. As a result, many people end up paying more than they need to, even when they secure a low rate. It sounds counterintuitive, but it happens every day.
The good news is that math does not lie. When you analyze the numbers correctly for your specific situation, you can clearly see how many real dollars are leaving your family's pocket and going to the bank.
That is the number you need to minimize. It is called the cost of credit.
In my analysis, I use what I call the M.A.P. (Mortgage Analysis Plan) to identify the strategy that minimizes your total borrowing cost. I also use what I call the L.A.B. number, or Lifetime.
Amortized Borrowing Cost. The L.A.B. number represents the minimum amount of interest you should pay over the life of your borrowing based on your unique situation.
Many people assume that the lowest mortgage rate automatically means the lowest interest cost. That is not always true.
The goal is simple: stop focusing on the lowest mortgage rate and start focusing on the lowest cost of borrowing.
You’re now launching the Mortgage Free movement. What does “being mortgage‑free” really mean to you, beyond just having a zero balance on a home loan?
I love this question, Amanda.In today's world, everything seems stressful and complicated. For many people, life feels harder than it should. My son Pablo often makes fun of me because I am always saying that we need to simplify things.
That is what the Mortgage-Free Movement is all about: simplicity.
For me, it comes down to two feelings that I want every homeowner to experience. When I became mortgage-free, I felt both of them, and the difference was incredible.The first feeling is freedom. Without a mortgage payment, there is no longer a massive expense taking up a large portion of your monthly budget. You gain flexibility, choices, and peace of mind.
The second feeling is safety. We live in an uncertain world, and unexpected challenges can happen at any time. Knowing that I have no mortgage balance and access to a line of credit secured against my home, with a zero balance and substantial available credit, gives me confidence that I can handle whatever life throws at my family financially.
My goal is simple: I would love to see as many Canadians as possible experience the same freedom and safety that I have experienced.
As a founder, mentor, and past president of CMBA‑BC, how do you personally define a man’s success—and what advice would you give new entrepreneurs who are trying to build both wealth and a meaningful life?
Amanda, I am an engineer at heart, so I spent a lot of time reflecting on this question.
As men, we are often measured by what we produce, especially in terms of income and assets.
The more money a man earns, the higher his status is perceived to be in society. However, this way of thinking creates serious problems.
We see men who are financially successful but neglect their families. Others accumulate wealth but become self-centered and stop helping those around them. Some have no spiritual foundation, while others become so focused on success that they ignore the ethical consequences of their actions.
That led me to create a simple formula:
Successful Man = 20% Money + 20% Spiritual + 20% Family + 20% Helping Others + 20%
Caring for Self and Environment
When I apply this formula to my own life, I feel fulfilled. I no longer feel pressured to measure my worth only by money or assets, as society often encourages us to do.
When I apply this formula to my own life, I feel fulfilled. I no longer feel pressured to measure my worth only by money or assets, as society often encourages us to do.
This formula brings me back to my center. It gives me peace while reminding me that there is always room to grow in every area of life. I would encourage every man and entrepreneur to use this formula.
Disclaimer: The views and opinions expressed in this interview are those of the interviewee and do not necessarily reflect the official policy or position of CanadianSME Small Business Magazine. Our platform is dedicated to fostering dialogue and sharing insights that inspire and empower small and medium-sized businesses across Canada.
