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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144 published items match this view. We prioritize the effective date, then the announcement or last-update date.
Contact the lender before missing payments and ask for a documented assessment of relief measures. Available options depend on the lender, mortgage and hardship; no single measure is guaranteed.
The trigger rate is generally reached when the fixed payment no longer covers the required interest. The trigger point relates to the mortgage balance reaching the lender’s permitted loan-to-value or equity threshold.
Yes. The federal prohibition on purchases of residential property by non-Canadians was extended and is scheduled to remain in force until January 1, 2027, subject to the Act, regulations and exceptions.
For income earned after 2023, federal tax rules can deny expense and capital-cost-allowance deductions attributable to a non-compliant short-term rental for the period of non-compliance.
For a first HBP withdrawal made from 2022 through 2025, temporary relief generally delays the start of the 15-year repayment period until the fifth year after the withdrawal year.
The FCAC guideline sets expectations for federally regulated financial institutions supporting eligible consumers with principal-residence mortgages who are at risk because of exceptional circumstances. It is not a universal relief program for every mortgage.
Possibly, but not automatically. FCAC expects federally regulated institutions to consider waiving prepayment penalties when appropriate for qualifying consumers in severe financial difficulty.
A federally regulated lender may consider extending amortization as a relief measure, but FCAC expects the extension to be for the shortest period appropriate and accompanied by a plan to restore the amortization when…
FCAC expects federally regulated institutions not to charge interest on interest when a consumer receives qualifying mortgage relief under the exceptional-circumstances guideline.
FCAC expects federally regulated lenders to consider appropriate available measures, but it does not prescribe one solution or guarantee approval of a deferral, fee waiver, amortization extension or penalty waiver.
No. Up to $50,000 is the qualifying-expenditure ceiling for an eligible renovation—not the cheque amount. The refundable credit is a percentage of eligible costs and the rate can depend on the tax year.
Potentially. For dispositions after 2022, profit on a residential property held for fewer than 365 consecutive days is generally deemed business income unless a legislated life-event exception applies.
Yes. Toronto says an undeclared property can be deemed vacant, the tax forms a lien on the property and a purchaser can become responsible. Buyers and sellers should address the declaration and tax status…
For uninsured mortgages at federally regulated lenders, the prescribed qualifying rate remains the greater of the contract rate plus 2% or 5.25%, subject to the straight-switch renewal exception.
No. Some units first occupied for residential purposes after November 15, 2018 are exempt from the annual rent-increase guideline, but other Residential Tenancies Act rules can still apply.
Ontario’s standard lease is required for most residential tenancies signed on or after April 30, 2018, and the landlord must give the tenant a copy within 21 days after signing.
An Ontario first-time-buyer refund application generally must be received within 18 months of the conveyance or disposition. The maximum provincial refund is $4,000 for qualifying transactions.
Yes. A principal-residence sale must generally be reported and the property designated on Schedule 3 and Form T2091(IND), even when the exemption is expected to eliminate the gain.
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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