Home Buying

Who Holds Your Deposit, and Where? Ontario’s Trust Account and Deposit Rules Explained

When buying in Ontario, who holds your deposit and where? Per RECO and Ontario Reg 567/05, the deposit is usually delivered within 24 hours of acceptance, is around 5% of the price, and is held by the listing brokerage in a trust account, protected by RECO deposit insurance (up to $200,000 per claim). Here's the full picture, including what happens to the deposit if the deal collapses.

What Is a Backup Offer? The Right “Second in Line” Strategy for Ontario Buyers

An Ontario backup offer is a "second in line" offer a buyer submits when the seller has already accepted a first offer. Per OREA contract rules, a seller can't accept a second offer during the first offer's irrevocable period. Here's how backup offers work, the role of irrevocability, and how buyers use them without getting locked in.

Special Mortgage Programs at Canada’s Big Banks: Which One Is Right for You

Canada's big banks each have a flagship mortgage program: Scotia STEP, TD FlexLine, RBC Homeline, BMO ReadiLine, CIBC Home Power. Here's how readvanceable products work, the stress-test rule, and the 2024 insured-mortgage reforms — so you choose well.

Renting vs Buying in the GTA: How to Actually Decide (2026)

Rent or buy in the GTA? Use TRREB 2025 prices, Q1 2026 rents and the 5% rule to compare ownership costs, opportunity cost and your break-even horizon. Arthur Zhao explains.

How Credit Scores Work in Canada (and How They Affect Your Mortgage)

What credit score do you need for a mortgage in Canada? A clear guide to the 300-900 scale, the five Equifax/TransUnion scoring factors, CMHC's 600 minimum, and how to raise your score before you buy.

Bridge Financing in Ontario: How to Buy Before You Sell

Bridge financing lets you close on a new Ontario home before your current home's sale funds arrive. Here is how the loan works, how interest is charged daily on the bridged amount, why lenders require a firm sale, typical term length, costs, and the risks.

Rent-to-Own in Ontario: How It Works and the Risks to Watch

A rent-to-own home in Ontario is a lease plus an option to purchase: you pay an upfront option fee, part of each month's rent builds as a credit toward your down payment, and you can buy later at a price set today. Here's how it works, who it suits, and the biggest risks — per FCAC and CMHC.

Canada’s Mortgage Stress Test in 2026: How the Qualifying Rate Works

In 2026 Canada's mortgage stress test (the OSFI B-20 minimum qualifying rate) is still the greater of your contract rate + 2% or a 5.25% floor. Here's how it's calculated, who it applies to, the late-2024 switch-at-renewal exemption, and how it shapes your buying power.