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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84 published items match this view. We prioritize the effective date, then the announcement or last-update date.
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.
Ontario land transfer tax is calculated using graduated rates on the value of consideration. Your lawyer normally collects it at closing, and it is generally cash required in addition to the down payment.
Yes, potentially. CRA generally describes a substantial renovation as removing or replacing 90% or more of the interior that existed immediately before renovation, subject to detailed measurement and exclusion rules.
A typical used owner-occupied home sold by an individual is usually exempt from GST/HST, but the result can change for builders, business transactions, substantial renovations, short-term rentals or mixed-use property.
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.
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…
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.
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.
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…
A co-signed mortgage can affect the parent’s debt-service calculation, credit exposure and plans to renew, refinance or buy another property.
Owner-occupied, second-home and rental mortgages carry different underwriting, insurance and pricing assumptions. State the genuine intended use. If plans change before closing, tell the broker and insurer so the file can be reassessed.
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…
The program is aimed at eligible existing homeowners building self-contained secondary suites, subject to its occupancy, property, loan-to-value, construction and qualification rules. It is not a general cash-out refinance for unrelated debts or renovations.
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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