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.
Newest relevant date first
200 published items match this view. We prioritize the effective date, then the announcement or last-update date.
No. Tarion deposit protection applies only in specified circumstances and up to applicable limits. It should never be described as unlimited insurance for every deposit, upgrade payment or contract dispute.
Potentially. Ontario condo law can provide an additional 10-day rescission period after a material change to the disclosure statement, but whether a change is legally “material” can require professional advice.
The 10-calendar-day period generally begins only after the buyer has received the signed purchase agreement, disclosure statement and Ontario Condo Buyers’ Guide. Signing alone may not be the only date that matters.
Because the lender and mortgage professionals must understand whether the money is genuine business revenue, borrowed money, a transfer between owned accounts or funds from another person. A clean paper trail protects both the…
Possibly, but moving corporate money into a personal home purchase can create tax, shareholder-loan, documentation and lender-source-of-funds issues. The withdrawal should be planned with an accountant before the offer becomes firm.
A difference is not automatically a decline, but it must make sense. The Notice of Assessment summarizes CRA’s assessment, while bank deposits show cash movement; neither explains the complete business without reconciliation.
Sometimes, but company revenue and retained earnings are not automatically the shareholder’s personal income. Certain lenders may analyze salary, dividends, ownership, corporate cash flow and eligible add-backs to determine what income is sustainable and…
Some alternative/B lenders review roughly six to twelve months of business bank statements, identify recurring gross business deposits and subtract reasonable operating expenses to estimate supportable income. This is a lender method—not an OSFI…
No. Some programs may add back eligible non-cash, one-time or policy-approved expenses, but ordinary costs required to keep the business operating normally cannot simply be ignored.
No. CMHC says income for a sole proprietorship or partnership may be grossed up by 15% or assessed through eligible add-backs. “May” is not an automatic increase, and it is not a rule for…
Potentially. CMHC has a self-employed mortgage-insurance program with several documentation options, but the insurer and lender must still be satisfied that the income, business and overall application are credible.
No. There is no universal law saying every self-employed borrower must operate for exactly two years. Two years is a common lender or insurer evidence standard, but exceptions and different programs can exist.
Not necessarily. Your tax return reports income under tax rules; a mortgage lender separately decides what stable, supportable income it will use to assess repayment. The two numbers may be related without being identical.
Rental income is not handled by one universal percentage. Many A lenders use conservative add-back or offset worksheets; alternative/B lenders may recognize more rental cash flow; MIC and private decisions can place more weight…
For an eligible insured two-to-four-unit non-owner-occupied property, CMHC describes gross-rent and net-rental-income approaches. The result depends on the method, expenses and the complete application—not rent alone.
Potentially. Under CMHC’s insured-mortgage approach, up to 100% of gross rental income may be considered for an owner-occupied two-unit property, subject to the insurer’s and lender’s full requirements.
No. CMHC rental-income methods apply when CMHC mortgage-insurance requirements are relevant. They are not a universal formula that every conventional A lender, alternative/B lender, MIC or private lender must use.
Changing all or part of a home from personal use to income-producing use can create a deemed disposition at fair market value. Elections may be available in some cases, but they have conditions and…
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.
Mortgage rule second opinion
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