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.
Find the answer from your problem
Separate the real lender concern from assumptions.
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
Buying, selling or investing?
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.
Need a focused review?
Tell Rajiv what you are trying to accomplish and what the lender has already said. He can help identify the questions and responsible options worth exploring next.
Published mortgage guidance
Use the guided situations above or search every published answer, concept and strategy.
Rule
A federally regulated lender cannot make its optional mortgage life insurance a condition of mortgage approval. It must disclose the cost, obtain express consent and provide cancellation information.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
A collateral charge may secure more than the mortgage. To remove or transfer it, other loans or credit lines covered by the charge may need to be repaid or moved, and legal work may be required.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
Federally regulated lenders following the mortgage prepayment information code provide annual information about available privileges, maturity and how to estimate charges.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
Federally regulated institutions must explain how the prepayment charge is calculated, including the process or formula and the information needed to estimate it.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
The trigger rate is generally reached when the fixed payment no longer covers the required interest. The trigger point relates to the mortgage balance reaching the lender’s permitted loan-to-value or equity threshold.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
Possibly, but not automatically. FCAC expects federally regulated institutions to consider waiving prepayment penalties when appropriate for qualifying consumers in severe financial difficulty.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
A federally regulated lender may consider extending amortization as a relief measure, but FCAC expects the extension to be for the shortest period appropriate and accompanied by a plan to restore the amortization when possible.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
FCAC expects federally regulated institutions not to charge interest on interest when a consumer receives qualifying mortgage relief under the exceptional-circumstances guideline.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
FCAC expects federally regulated lenders to consider appropriate available measures, but it does not prescribe one solution or guarantee approval of a deferral, fee waiver, amortization extension or penalty waiver.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →Rule
Usually yes. The longer amortization can reduce the required payment, but CMHC applies a 20-basis-point insurance-premium surcharge to eligible 30-year insured mortgages, and slower principal repayment can increase total interest.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 6, 2026
Read the practical answer →