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Mortgage rates, financing, and home loan guides for Ontario buyers
New to Canada with no credit score? Here is how CMHC newcomer rules, Big-5 bank programs, alternative credit proof and 90-day fund seasoning work in the GTA.
Turned down by the bank? Arthur Zhao explains Ontario's lender ladder — A-lenders, B-lenders, MICs and private mortgages — rates, fees, LTV, and the exit back to a bank.
Want to renovate a resale home but where does the money come from? A Purchase Plus Improvements (PPI) mortgage rolls the reno into your mortgage — one loan, one rate. The lender lends on the "as-improved" value, and the reno funds are held back and released after the work is done and verified. Per CMHC / Sagen, the improvement amount is capped (e.g., the lesser of $40,000 or 20% of value; CMHC Improvement is 10%). Here's the mechanics, caps, and payout traps.
In Canada, how much you can borrow comes down to GDS (Gross Debt Service) and TDS (Total Debt Service). Per CMHC, insured mortgages generally require GDS at or below 39% and TDS at or below 44%, calculated at the greater of contract rate + 2% or 5.25%. Here's how the two ratios work, what they include, how to back-solve your budget, and how to optimize.
For self-employed buyers in Canada, the hurdle is proving income. According to OSFI, the minimum qualifying rate (stress test) for uninsured mortgages is the greater of your contract rate + 2% or 5.25%; lenders want two years of NOAs, tax returns, and business financials. Here's how self-employed income is assessed, what to prepare, and how to choose between A-lenders and B-lenders.
Does Canada have a 'flipping tax'? Yes. According to the CRA, the residential property flipping rule (effective January 1, 2023) taxes the profit on homes owned under 365 days — including rentals and pre-construction assignments — fully as business income, with no principal residence exemption. Here are the rules, the 9 life-event exceptions, and why surviving 365 days isn't a safe harbour.
Think your Ontario property tax is too high? You can challenge your MPAC assessment. According to MPAC, 2026 assessments are still based on the January 1, 2016 valuation date. File a free Request for Reconsideration first, then appeal to the Assessment Review Board. Here are the deadlines, the $132.50 ARB fee, and the right way to compare.
What is a variable mortgage trigger rate? According to the Bank of Canada, about 75% of Canadian variable mortgages have fixed payments, and at the trigger rate the whole payment covers only interest. Here's how the trigger rate, the trigger point, the rough math, and 2026's lower rates change the risk for GTA borrowers.
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