Canada & Ontario mortgage rule watch
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190 published items match this view. We prioritize the effective date, then the announcement or last-update date.
Downsizing may require a partial mortgage payout, which can create a penalty even if the remaining balance is ported.
A port-and-increase can combine the old mortgage balance with new borrowing, often at different rates and under fresh qualification.
Possibly. Being on maternity or parental leave is not an automatic mortgage decline. The lender will decide whether to use your current leave income, your confirmed return-to-work income, or a more cautious amount after…
Yes. A preapproval or commitment does not prevent the lender or mortgage insurer from asking for updated documents or re-verifying employment before funding. The file may not always be re-checked, but you should plan…
It may be usable, but temporary and long-term benefits are not treated the same. The lender will usually examine the benefit source, amount, taxable status, review conditions and expected continuation before deciding what income…
Often yes, when the pension income is current, documented and expected to continue. The lender will still check the type of benefit, gross amount, taxes, debts and whether the proposed mortgage payment works on…
Expect to provide the signed separation agreement or court order and a bank trail showing what was actually paid or received. Depending on the lender, you may also need proof of arrears status, enforcement…
It can affect either side of the mortgage calculation. Documented support received may be considered income under some lender policies, while support you must pay is normally treated as an ongoing obligation. The court…
Yes, some lenders will combine both jobs when the hours and earnings are stable and sustainable. The important issue is not the number of employers; it is whether the lender can verify the income,…
Sometimes. Two years is a common way to show that variable income is stable, but it is not a universal statute. A lender may use a shorter documented history when the income is consistent…
No universal Canadian rule automatically declines every borrower on probation. It is a lender-risk decision. The answer depends on the job change, industry continuity, guaranteed income, employment history, strength of the file and whether…
Some lenders may, but it is not automatic. A clear employer letter confirming your position, guaranteed salary or hours and return date can support the request, while the lender or mortgage insurer still decides…
They may be able to, but the parents are borrowing against their own home and must qualify, carry the interest and accept the security risk. Whether the child’s lender treats the transferred funds as…
The letter explains the donor, relationship, purpose and non-repayable nature of the gift. Bank records show where the money came from and that it reached the buyer. One document does not replace the other.
No. CMHC identifies a non-repayable gift from a relative as a traditional down-payment source. If repayment is expected, it is a loan and must be disclosed so the lender and mortgage insurer can assess…
Joint tenants hold the property with a right of survivorship, while tenants in common hold separate shares that can pass through an estate. The title choice affects death, estate planning and ownership, but it…
A co-borrower or co-signer usually signs the debt and carries direct repayment responsibility. A guarantor promises to answer for the debt under a guarantee. Whether either person must be on title depends on the…
Yes, independent legal advice and a written co-ownership agreement are strongly advisable. The mortgage explains what the lender can demand; the co-ownership agreement explains how the owners intend to live, pay, decide, sell 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.
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