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
Ontario says a building permit is required to add a second unit. A lender may still assess existing or proposed rent under its policy, but zoning, permits, fire and building compliance can affect the appraisal, insurability, marketability and amount of rent accepted.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
Read the practical answer →Rule
The lender may reduce the mortgage or require you to cover more of the project with cash. Spending $80,000 does not guarantee the property value rises by $80,000. Financing follows the accepted lending value, not every dollar on the contractor quote.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Because many improvement mortgages advance the purchase money at closing but retain the renovation portion until the approved work is finished and confirmed. The mortgage is not necessarily a contractor-payment account that advances every invoice as it arrives.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
Read the practical answer →Rule
They may be added through a purchase-plus-improvements structure when the lender approves the work, quotes and as-improved value. The renovation money is commonly held back and released after the approved work is completed and verified, so you still need a plan to pay contractors during construction.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Use an insured or conventional A route first when status, income, credit and down payment fit. Alternative/B lending may help when income or credit falls outside A policy. Private or MIC funding should address a defined short-term gap with enough equity and a credible exit, not replace legal purchase eligibility.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Often, yes. The lender decides which translator and certification it accepts. A family translation or screenshot may help explain the file but may not satisfy underwriting, appraisal, legal or anti-money-laundering review.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Usually no. Ontario’s NRST is a separate closing tax and generally must be funded in addition to the down payment and ordinary closing costs. The current published rate is 25% of the applicable consideration, subject to exemptions and possible rebates.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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No. Mortgage approval and legal eligibility to purchase are separate. The federal prohibition is extended to January 1, 2027, subject to its definitions and exemptions. An Ontario lawyer should confirm the buyer, property and exemption before the offer becomes firm.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Yes. The lender needs a complete picture of debts, support obligations, property costs and other financial commitments, whether they are in Canada or abroad. Leaving them out can invalidate the approval and create a misrepresentation concern.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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Possibly, if the lender and insurer accept the donor relationship and the gift is genuine, non-repayable and fully traceable. An overseas gift needs both the gift letter and evidence showing where the donor’s money came from and how it reached you.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 7, 2026
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