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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RRSP Home Buyers’ Plan: Withdrawal Limit and Repayment (2026)
RRSP Home Buyers' Plan allows up to $60,000 tax-free withdrawal per person ($120,000 per couple). Repay over 15 years starting year 2 after withdrawal.
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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.