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.
Equifax · TransUnion · utilization · collections · recoveryShow me where to start →04Compare the complete decision before signing early.
Rate · payment · penalty · switching cost · flexibilityShow me where to start →05Match the purpose, cost and exit plan to the right structure.
Debt consolidation · renovations · investment · CRA debtShow me where to start →06Test the rental calculation and portfolio effect by lender route.
Subject rent · existing rentals · cash flow · reservesShow me where to start →07Work backward from the deadline and available equity.
Appraisal · funds to close · job change · urgent alternativesShow me where to start →How the answer is built
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Property type, legal use, insurance, appraisal, taxes, condo information and closing dates can change the mortgage answer. Connect both sides before the transaction becomes difficult to reverse.
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Published mortgage guidance
Use the guided situations above or search every published answer, concept and strategy.
Rule
Yes. Toronto says an undeclared property can be deemed vacant, the tax forms a lien on the property and a purchaser can become responsible. Buyers and sellers should address the declaration and tax status before closing.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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The HATC currently allows up to $20,000 of eligible annual expenses for a qualifying individual or dwelling. Budget 2025 proposed that, for 2026 onward, the same expense could no longer be claimed under both HATC and the Medical Expense Tax Credit.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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No. Up to $50,000 is the qualifying-expenditure ceiling for an eligible renovation—not the cheque amount. The refundable credit is a percentage of eligible costs and the rate can depend on the tax year.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Yes. Taxable short-term accommodation can create GST/HST registration, collection and input-tax-credit issues, and a change in commercial use can affect the later sale of the property.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Deductibility generally follows the current use of the borrowed money—not simply the property used as collateral. Clear tracing, a legal obligation to pay interest and an eligible income-earning purpose are central.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Yes. CCA may reduce current rental income, but a later sale can produce recapture, and prior CCA can prevent certain principal-residence change-of-use elections.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Not automatically. CRA examines whether the income-producing use is ancillary, whether there was a structural change and whether CCA was claimed. A more substantial partial conversion can create change-of-use consequences.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Potentially. A subsection 45(3) election may defer the deemed disposition when an income-producing property becomes a principal residence, but prior CCA claims can make the election unavailable.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Potentially. A subsection 45(2) election can defer the deemed disposition that normally occurs when a principal residence becomes an income-producing property, but conditions and future consequences matter.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Yes. A principal-residence sale must generally be reported and the property designated on Schedule 3 and Form T2091(IND), even when the exemption is expected to eliminate the gain.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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