Canada & Ontario mortgage rule watch
See verified rules, programs and important dates without confusing a regulator’s role with an individual lender’s approval policy.
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Clear status labels prevent an announcement or proposal from being mistaken for a rule already in force.
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190 published items match this view. We prioritize the effective date, then the announcement or last-update date.
The federal minimum on a $1.2 million purchase is $95,000: 5% of the first $500,000 plus 10% of the remaining $700,000, provided the mortgage and property qualify for insurance.
Yes, a qualifying first-time buyer can apply for a 30-year amortization on an insured mortgage. It can reduce the required payment, but it may increase total interest and it does not relax the lender’s…
The statutory minimum is generally 5% on the first $500,000 and 10% on the portion above $500,000 when the purchase price is below $1.5 million. At $1.5 million or more, the stated minimum is…
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.
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.
Because mortgage brokers, administrators and lenders are reporting entities under Canada’s anti-money-laundering framework and must verify people and entities for specified mortgage records and transactions.
Because mortgage brokers and lenders must take reasonable measures in prescribed circumstances to identify politically exposed persons, heads of international organizations and certain family members or close associates.
Mortgage-sector reporting entities have third-party determination duties for specified records and reports. They may need to understand whether the named client is acting for someone else or whether another person controls the transaction.
Because identifying the individuals who ultimately own or control an entity helps prevent anonymous companies, trusts or partnerships from hiding who is behind a mortgage transaction.
FINTRAC recordkeeping rules require mortgage-sector information records to include a person’s occupation or a sole proprietor’s principal business, and entity records must include the nature of the entity’s business.
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.
No. The current HBP limit is $60,000 per eligible participant, but the money comes from the participant’s RRSP and generally must be repaid over a 15-year period.
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.
Yes. The federal prohibition on purchases of residential property by non-Canadians was extended and is scheduled to remain in force until January 1, 2027, subject to the Act, regulations and exceptions.
For income earned after 2023, federal tax rules can deny expense and capital-cost-allowance deductions attributable to a non-compliant short-term rental for the period of non-compliance.
For a first HBP withdrawal made from 2022 through 2025, temporary relief generally delays the start of the 15-year repayment period until the fifth year after the withdrawal year.
The FCAC guideline sets expectations for federally regulated financial institutions supporting eligible consumers with principal-residence mortgages who are at risk because of exceptional circumstances. It is not a universal relief program for every mortgage.
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…
How to read this centre
Sets laws, program requirements or prudential boundaries. FSRA regulates; it does not write every lender’s underwriting policy.
Applies only when the mortgage or client fits that insured product or program. It should not be generalized to every conventional deal.
Decides its own acceptable income, property, credit and exception policy inside the applicable rules.
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