Knowledge centre
CMHC expanded mortgage-insurance options for eligible prefabricated, modular and manufactured homes in May 2026, but the property, land, construction contract and lender still have to fit the program.
Ontario’s NRST is generally a 25% tax on certain residential-property acquisitions by foreign nationals, foreign corporations and taxable trustees. Citizenship, permanent-resident status, ownership structure and exemptions must be checked before the offer becomes firm.
A federally regulated financial institution must provide its mortgage renewal statement at least 21 days before the end of the existing term—but waiting for that letter can leave too little time to compare properly.
Contact the lender before missing payments and ask for a documented assessment of relief measures. Available options depend on the lender, mortgage and hardship; no single measure is guaranteed.
A federal insured-refinancing framework may allow an eligible homeowner to finance construction of legal secondary suites, potentially up to 90% of the improved property value and up to a 30-year amortization.
No. OSFI does not impose one universal borrower-qualification formula requiring every lender to use exactly 50% of rent. Federally regulated lenders must underwrite rental income prudently, but their policies and calculations can differ.
No. The OSFI loan-to-income measure is a lender-level portfolio limit on the share of new uninsured mortgages above 4.5 times income—not a universal borrower-level approval ceiling.
For uninsured mortgages at federally regulated lenders, the prescribed qualifying rate remains the greater of the contract rate plus 2% or 5.25%, subject to the straight-switch renewal exception.
A qualifying-rate exemption may apply to a true uninsured straight switch at renewal, but it is not a promise that every lender must accept the mortgage without reviewing the file.
The deposit is money delivered under the purchase agreement and is normally credited toward the total down payment at closing. The down payment is the full portion of the purchase price not covered by the mortgage. The buyer must also provide closing costs and prove acceptable sources and movement of funds, often through a documented account history.