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Minimum qualifying rate for uninsured mortgages
Current rate:The greater of the mortgage contract rate plus 2% or 5.25%. The minimum qualifying rate (MQR) for uninsured mortgages is a mortgage stress test applied by lenders to borrowers. OSFI obliges federally-regulated lenders to apply this stress test to their borrowers. This helps lenders prepare borrowers so they can continue to make mortgage payments…
Can’t Buy Alone: Why Today’s Homebuyers Are Leaning on Family to Enter the Market
In today’s Canadian housing market, the dream of homeownership remains alive—but for a growing number of first-time buyers, that dream is only possible with a family safety net. According to the 2025 CMHC Mortgage Consumer Survey, more Canadians are entering the market for the first time, but they’re not doing it alone. From gifted down payments…
Understanding Insured, Insurable, and Uninsured Mortgages
When shopping for mortgages, you’re likely to come across terms like insured, insurable, and uninsured mortgages. These classifications impact the type of property you can purchase, how much you need for a down payment, and the interest rates available to you. Let’s break down what these terms mean, their requirements, and examples to clarify how…
Listings of Metro Vancouver New Homes and Condo Developments updated by the hour
Stan Direct: 604-202-1412E-mail: ssteam3000@gmail.com WARNING: Buying a new house or a condo from the developer’s sales office is always very exciting but if you are not very familiar with the whole process, it might cost you THOUSANDS of $$$ and many legal problems. Remember that the new development sale offices are established by the developer and…
