Ontario Mortgage Decision Centre
Choose the concern closest to yours. The useful answer may depend on the documents, property, timing and lender policy—not simply whether one lender said yes or no.
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Income · credit · debt ratios · property · down paymentShow me where to start →02Show how the business earns before choosing a lender route.
A lending · bank statements · financials · T1 approachShow me where to start →03Understand the bureau, timing and cause—not only the score.
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Appraisal · funds to close · job change · urgent alternativesShow me where to start →How the answer is built
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Published mortgage guidance
Use the guided situations above or search every published answer, concept and strategy.
Rule
They may be able to, but the parents are borrowing against their own home and must qualify, carry the interest and accept the security risk. Whether the child’s lender treats the transferred funds as an acceptable gift depends on truthful documentation and its policy.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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The letter explains the donor, relationship, purpose and non-repayable nature of the gift. Bank records show where the money came from and that it reached the buyer. One document does not replace the other.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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No. CMHC identifies a non-repayable gift from a relative as a traditional down-payment source. If repayment is expected, it is a loan and must be disclosed so the lender and mortgage insurer can assess the added debt.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Joint tenants hold the property with a right of survivorship, while tenants in common hold separate shares that can pass through an estate. The title choice affects death, estate planning and ownership, but it does not divide the mortgage lender’s repayment rights unless the mortgage documents say so.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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A co-borrower or co-signer usually signs the debt and carries direct repayment responsibility. A guarantor promises to answer for the debt under a guarantee. Whether either person must be on title depends on the lender’s structure and legal documents, not the everyday label.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Yes, independent legal advice and a written co-ownership agreement are strongly advisable. The mortgage explains what the lender can demand; the co-ownership agreement explains how the owners intend to live, pay, decide, sell and resolve disputes among themselves.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Not automatically. The lender must agree to release the person, and it may require a fresh qualification, appraisal, legal documents or a refinance. Removing someone from title does not by itself remove them from the mortgage.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Yes. Joint borrowers are responsible for the account, and reported late payments can affect every borrower connected with it. A family promise about who pays does not stop the lender from reporting the actual payment history.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Yes. The co-signed mortgage can appear as your debt and may be included when another lender measures your obligations. Some lenders may consider documented offsets, but no universal rule makes the debt disappear from qualification.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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No. A person who signs as a joint borrower is generally responsible for the unpaid mortgage balance, not merely the income shortfall used to qualify. The lender can look to the co-signer if the mortgage is not paid as agreed.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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