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.
Yes. CRA permits an eligible buyer to make an FHSA qualifying withdrawal and an HBP withdrawal for the same qualifying home when all conditions for each program are met. The best mix depends on…
Not always. A switch at maturity may avoid an early-payment penalty, but appraisal, legal, registration, assignment, discharge and setup costs can remain. Some lenders cover selected costs, subject to conditions.
OSFI says federally regulated lenders are not expected to apply the minimum qualifying rate when an uninsured mortgage switches at renewal with no increase to the loan amount or amortization. The new lender still…
Yes. CRA can register a lien or charge against property to secure an unpaid tax debt and may seize or force a sale. A registered claim must be addressed in the title, payout and…
No, the home is not normally sold the day a payment is missed. But a missed payment can be a mortgage default, allowing the lender to start collection and eventually enforcement under the mortgage…
Parents may access a HELOC, refinance or second mortgage, but their payment, risk and retirement plan must be reviewed alongside the buyer’s mortgage.
A co-signer is not removed automatically; the remaining borrower must qualify and the lender and lawyer must approve the change.
A co-signed mortgage can affect the parent’s debt-service calculation, credit exposure and plans to renew, refinance or buy another property.
Verify the Ontario licence, brokerage and contact information independently. Read documents before signing, confirm fees and lender identity, keep copies, and refuse requests to lie, alter records, route money through strangers or sign blan
The label matters less than the signed mortgage documents, responsibility for the full debt and the lender’s ownership requirements.
Yes. False comparables, undisclosed incentives, staged transactions or pressure to support a predetermined value can mislead the lender. Provide accurate property information and use the lender’s approved appraisal process.
The lender must know the true purchase price, incentives, credits and obligations. Undisclosed cashback, renovation credits, deposit returns or separate agreements can distort the property value and down payment.
A straw buyer lends their name, credit or identity to a purchase or mortgage for someone whose true involvement is hidden. The person signing can become responsible for the debt, taxes and legal consequences.…
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.
The lender, broker and lawyer need to understand the source of funds, confirm the real borrower and identify unusual transactions. Keep a clear trail for deposits, gifts, investment sales, property proceeds and overseas transfers.
Lenders and brokers compare statements with other records and may verify documents directly. Removing pages, changing balances or hiding transfers can stop the application and raise fraud concerns. Provide complete original statements and e
False job letters, pay statements, tax records or financial statements mislead the lender and can constitute fraud. The broker should verify the true income and select a lender whose policy can assess it.
The lender may recalculate qualification, change terms or cancel funding. A private loan, family loan, line of credit or second mortgage used for closing must be disclosed when required. Hidden borrowing also creates title-priority…
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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