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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128 published items match this view. We prioritize the effective date, then the announcement or last-update date.
Yes. If acceptable insurance is a lender funding condition, the mortgage may not advance until the lawyer can confirm coverage. The issue is often the property—not the borrower’s income or credit—and it can surface…
The lender is usually named as loss payee because the property secures its mortgage. After a significant covered loss, the insurer may pay you, the lender, or both. The lender may release repair money…
No. Home insurance covers specified damage or loss involving the property and belongings. Mortgage default insurance protects the mortgage lender if the borrower defaults and the sale proceeds do not fully repay the insured…
Ontario law does not generally force every homeowner to buy home insurance, but a mortgage lender will normally require acceptable property insurance as a condition of funding. The distinction matters: this is usually a…
No. Mortgage balance does not determine income tax. CRA generally treats capital property as disposed of at fair market value immediately before death, although a principal-residence exemption or qualifying spouse rollover may reduce or…
Generally, no—not simply because only one spouse is on title. Ontario’s Family Law Act restricts a spouse from disposing of or encumbering an interest in a matrimonial home unless the other spouse joins, consents,…
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.
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.
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.
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.
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.
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.
It depends on when your spouse owned the home and whether you occupied it together while married or common-law. Being off title does not automatically preserve the refund.
Toronto’s eligible first-time-purchase rebate is up to $4,475 for qualifying new or resale residential property. It is separate from Ontario’s maximum $4,000 refund.
You can contribute, but the 89-day rule may restrict the deduction for RRSP contributions made shortly before an HBP withdrawal. A rushed deposit-and-withdrawal strategy can lose the expected tax benefit.
Generally, at least 12 months must pass after the tenancy begins or the last lawful increase, and the landlord must give at least 90 days’ written notice using the proper form.
A rent deposit is generally limited to the lesser of one month’s rent and one rental period. It must be used for the last rental period, and the landlord generally owes annual interest at…
Search the HCRA Ontario Builder Directory before signing. It can show licensing status, experience, homes built and regulatory history, including project information and certain cancellations.
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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