New Mortgage Rules in Canada

With Canada’s new mortgage rules coming into effect on January 1, 2018, we want to help make sure you know how these changes may affect you. Our TD Mobile Mortgage Specialists are ready to help you understand and guide you through these upcoming changes.

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At a glance
Videos about the new mortgage rules

Top 5 key details about the new mortgage rules

We’ve demystified some of the most important points about the new mortgage rules so you can make an informed decision when it comes to buying your home.

What is the new mortgage stress test?

Don’t let the idea of a test stress you out. The stress test is actually a set of rules to help home buyers be confident that they’re buying the house they can afford now and in the future. Watch the video to learn more about stress test, and how it differs based on the amount of your down payment, and the type of mortgage you’re looking for.

What does this mean if I’m buying a home?

Making sure you can afford your mortgage over the longer term is very important, as is knowing how much home you can afford to still maintain your lifestyle. Watch the video to understand how you can navigate the new mortgage rules, and how working with a TD Mortgage Specialist can help you understand what type of mortgage best fits your needs.

What if I’m already approved for my mortgage?

If you already have your mortgage pre-approval and purchase your home before your pre-approval expires, you won’t be affected by the new rules, regardless of when your home closes. Watch the video to find out how a TD Mobile Mortgage Specialist can help guide you through the process and how you may be affected if have your mortgage pre-approval, but don’t make your purchase before January 1, 2018.

What if my mortgage is up for renewal in 2018?

If you’re renewing your mortgage, you won’t be subjected to the stress test if you choose to stay with your existing bank. Watch the video to learn more about how the new mortgage rules can impact you if you’re planning to change mortgage lenders.

What if I don’t qualify under the new rules?

Buying a home can be stressful and emotional. But it's important to be realistic about what you can afford today. Watch the video to get a better understanding of how a TD Mobile Mortgage Specialist can help you stay informed about what you can afford under the new mortgage rules, and how you can make the best decisions for your needs in the future.