Mortgage
9 articles in Mortgage. Each verified against an official source and linked to a calculator.
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What Changed in Mortgage Rules for 2026
2026 mortgage policy: insured price cap raised to $1.5M, 30-year amortization now allowed for first-time buyers and new construction (with 0.20% surcharge). Stress test unchanged.
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Fixed vs Variable Mortgage: How to Choose
Fixed mortgage locks rate for the term; variable tracks prime. Variable saves on average historically but exposes you to rate rises. Decision depends on discount size, term length, and risk tolerance.
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Biweekly Mortgage Payments: Accelerated vs Regular Math
Accelerated biweekly mortgage payment is monthly / 2, paid 26 times per year. Total annual payment equals 13 monthly payments. Saves years of amortization vs regular biweekly.
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Mortgage Prepayment Penalty: Three Months’ Interest vs IRD
Variable mortgage prepayment penalty is 3 months' interest. Fixed mortgage penalty is greater of 3 months' interest or IRD. Major banks use posted-rate IRD which can be 5x discounted-rate IRD.
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GDS and TDS Mortgage Ratios Explained
GDS = housing costs / gross income (limit 39% insured). TDS = GDS plus all other debt (limit 44% insured). Both calculated at OSFI qualifying rate.
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CMHC Mortgage Insurance Premium Tiers (2026)
CMHC mortgage insurance premium tiers: 0.6% at 65% LTV, 1.7% at 75%, 2.4% at 80%, 2.8% at 85%, 3.1% at 90%, 4.0% at 95%. Premium added to mortgage principal.
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OSFI B-20 Mortgage Stress Test: Rules and How to Pass
OSFI B-20 stress test qualifies borrowers at max(contract rate + 2%, 5.25%). Applies to insured and uninsured federally regulated mortgages. GDS limit 39%, TDS limit 44%.
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Home Buyers’ Plan Withdrawal Limit 2026: $60,000 RRSP HBP Rules and Repayment
The 2026 Home Buyers' Plan (HBP) withdrawal limit is $60,000 per first-time home buyer (up to $120,000 for a qualifying couple). Funds must be in the RRSP at least 90 days before withdrawal. Withdrawal is initiated with Form T1036. Repay over 15 years starting the second year after the withdrawal year. The 2024 federal budget provided a temporary 3-year repayment deferral for HBP withdrawals made between January 1, 2022 and December 31, 2025. HBP can be combined with the FHSA.
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Ontario Land Transfer Tax Rates and Brackets (2026)
Ontario LTT is graduated from 0.5% to 2.5%. A first-time home buyer refund of up to $4,000 covers LTT on homes up to $368,333. Toronto buyers pay an additional municipal LTT.